Migraine Drugs Market Overview:
Migraine is a neurological medical condition that causes throbbing and intense headaches. Vomiting, stiffness, nausea, and trouble speaking are all possible side effects. Migraines are also thought to be genetically linked and may affect persons of all ages. A pounding headache may be caused by external factors such as stress, alcohol, hormonal fluctuations, and food allergies. Migraines are often self-limiting. In severe cases, however, medicines such as nonsteroidal anti-inflammatory drugs (NSAIDs), analgesics, and antipsychotics, among others, are necessary.
Migraine Drugs Market Size Growth Rate:
The global migraine drugs market reached USD 4,035.8 million in 2022 and is projected to witness lucrative growth by reaching up to USD 9,791.1 million by 2030. The migraine drugs market is expected to exhibit a CAGR of 12.1% during the forecast period (2023-2030). The global migraine therapeutic market is expanding rapidly, owing to increased prevalence and knowledge of migraine and its treatment alternatives.
Furthermore, an increase in demand for safe and useful treatment and an increase in research and development throughout the globe are likely to drive market expansion. However, side effects of migraine medications, a lack of adequate diagnosis, and an increase in undiagnosed instances are likely to hamper the global migraine therapeutics market’s expansion.
The rising incidence of migraine across the globe is one of the main reasons expected to boost the development of the global market for migraine treatments during the forecast period. For instance, among men and women globally, headache disorders, including migraine, rank as the second-leading cause of years lived with disability (YLD).
According to the National Center for Biotechnology Information, migraine is one of the most prevalent neurologic illnesses with a high prevalence and morbidity, particularly among young adults and females. It affects more than one billion people annually globally. As a result, there is a rise in the demand for migraine treatments.
Side effects associated with migraine drug usage are one of the major factors hampering the growth of the migraine drugs market worldwide. The usage of migraine drugs can give side effects such as nausea, paranesthesia, flushing, tingling, neck pain, chest tightness, dizziness, and coronary vasoconstriction.
In addition, stringent rules and regulations by the government are also hindering the growth of the migraine drugs market. Also, drugs’ harmful effects and the increasing precedence of other therapies restrain the growth during the forecast period. Furthermore, the need for proper medication for the patients by the healthcare providers due to lack of knowledge about the reason for the headache also restrains the migraine drugs market growth.
Increased global demand for safe and effective treatments is anticipated to provide significant growth opportunities for market participants in the migraine therapeutics sector. For instance, as the prevalence and awareness of migraines increase, so does the demand for treatments that are both safe and effective. Bio Delivery Sciences announced the launch of Elyxyb (celecoxib oral solution) in January 2022. Elyxyb is a fast-acting liquid. Elyxyb is one of the first ready-to-use oral solutions authorized by the U.S. Food and Drug Administration (FDA) for the treatment of migraine in adults, with or without aura. In turn, this is propelling market expansion.
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COVID-19 Impact Analysis:
Migraine is one of the medical conditions of headache. Many COVID-19 patients who had recovered have reported feeling a headache-like migraine during the quarantine period. The sudden outbreak of COVID-19 has increased stress levels in a considerable amount of the world globally, thus reflected in the global increase of people suffering from migraines. As a result, the market for migraine drugs has seen a spike in demand since the beginning of the COVID-19 pandemic.
Russia-Ukraine Conflict Analysis
Ukraine and Russia are both extensive bases for international clinical trial activities. The attack on Ukraine may cause an underpowering of global drug development outcomes including drugs for migraine with the failure of prospective recruitment locations for both nations. The turmoil and disorder induced by military confrontation have a significant influence over healthcare including migraine drugs and others.
Recent Developments in the Industry:
- In March 2022, AbbVie, a pharmaceutical company, declared a positive phase 3 improvement trial assessing atogepant (QULIPTA in the U.S.) for the prophylactic therapy of chronic migraine in adults.
- In September 2021, the USFDA authorized QULIPTA (atogepant) to AbbVie, a pharmaceutical company, for the prevention of episodic migraine in adults.
- In March 2023, Pfizer Inc., an American pharmaceuticals company, announced that the U.S. FDA authorized ZAVZPRET (zavegepant), the first and only calcitonin gene-related peptide (CGRP) receptor antagonist nasal spray for the acute treatment of migraine with or without aura in adults.
As per the research analysis, the global migraine drugs market is segmented by type into abortive medicine, and preventive medicine; by route of administration into oral, injectable, others; and by distribution channel into hospital-based pharmacies, retail pharmacies, and online pharmacies.
- Based on route of administration, the oral and injectable segment is expected to dominate the market during the forecast period and this is attributed to the increase in the use of oral and injectable migraine medications. Oral and injectable medications are the most frequently used route of administration for migraine treatment.
The global migraine drugs market is segmented into North America, Europe, South America, Asia Pacific and Middle East & Africa.
North America Migraine Drugs Market:
North America dominated the migraine drugs market due to the high usage of migraine drugs. Migraine is the third most prevalent and the sixth most disabling illness globally, affecting more than 37 million in the U.S. and over one billion people worldwide. The United States dominated the market with more than 65% share and is projected to maintain its position until 2029. The launch of CGRP-based therapies, high prevalence, increasing adoption of novel therapeutics, and a large target population in the U.S. are factors contributing to the country’s dominance.
Asia-Pacific Migraine Drugs Market:
The Asia-Pacific region is expected to have positive market growth due to the growing prevalence of migraine in the region. Furthermore, increasing the adoption of advanced technology to prevent migraine with migraine drugs with the surge in population will boost the market demand over the forecasted period.
The major global players in the market include Allergen, Eisai, Ltd., AstraZeneca plc, Abbott Laboratories, Eisai Co., Ltd., Endo International Plc., GlaxoSmithKline Plc., Merck & Co., Inc., Pfizer Inc., and Johnson & Johnson among others.
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The Full Report has the below insights:
- The report offers a comprehensive evaluation of the market in terms of market value (US$) and Y-o-Y Growth Rates (%). It does so via in-depth qualitative insights, historical data (2021-2022) and verifiable projections about market size during the forecast period (2023-2030).
- Visualize the composition of the global migraine drugs market segmentation by type, route of administration, distribution channel, and region, highlighting the key commercial assets and players.
- By Type: Abortive medicine, Preventive medicine
- By Route of Administration: Oral, injectable, others
- By Distribution Channel: Hospital-based pharmacies, Retail pharmacies, Online pharmacies.
- By Region: North America, South America, Europe, Asia Pacific, Middle East & Africa
- Identify commercial opportunities in the global migraine drugs market by analyzing trends and co-development deals.
- The report also covers data insights on various industry forces such as Porter’s five forces analysis, supply chain analysis, pricing analysis, regulatory analysis.
- Excel data sheet with thousands of data points of global migraine drugs market-level 4/5 segmentation.
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- Product mapping in Excel for the key product of all major market players
- The report will provide access to approximately 61 market data tables, 64 figures and close to 180 pages.
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