Migraine Drugs Market Size [2022-2028]
The major players being addressed in the Migraine Drugs market are Amgen (US), Abbott Laboratories (US), Allergan (Ireland), Eli Lilly (US), Pfizer Inc (US), AstraZeneca (UK), Johnson and Johnson Services Inc. (US), GlaxoSmithKline (UK)
Pune, India, May 12, 2022 (GLOBE NEWSWIRE) – Global Migraine Drugs Market Size It is expected to grow due to the increased prevalence of migraines during the forecast period. Fortune Business Insights™ publishes this information in an upcoming report titled “Migraine Drugs Market, 2021-2028.”
Migraine is defined as a neurological medical condition in which an individual suffers from severe headaches. These types of headaches can be controlled on their own, but, in some major cases, require external medications. Many migraine medications include non-steroidal anti-inflammatory drugs, analgesics, and antipsychotics. The increasing prevalence of neurological disorders among young people is expected to boost the market. According to the Migraine Research Foundation, more than 1 billion people suffer from migraine attacks, and more than 39 million people suffer from this neurological condition in the United States.
Main Industry Development:
January 2020: Ubrogepant supplied by Allergan is approved for use by the U.S. Food and Drug Administration. The drug effectively treats acute migraine headaches.
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The migraine drug market is divided into preventive and acute treatment. Preventive treatment includes ergotamine, analgesics, and triptans. Acute treatment consists of calcium channel blockers, beta-blockers, anticonvulsants, antidepressants, serotonergic antagonists, and others.
Based on distribution channel, the market is segmented into hospital pharmacy, retail pharmacies, and internet pharmacy. Finally, by geography, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Females are mostly affected
Migraine pain is more common in women than in men. According to the Migraine Society of Ireland, the ratio of women with migraines to male migraines was found to be 3:1 in the world population in 2018. This is attributed to changes in female estrogen levels, especially during menstruation. Furthermore, hormonal medications, such as oral contraceptives and hormone replacement therapy, may further exacerbate migraine headaches in women. Therefore, the increase in the number of females in the world is expected to drive the growth of the migraine drugs market.
Focusing on vendors in emerging markets, such as Asia Pacific and Lamy, is expected to drive market growth. The Asia Pacific region is expected to experience significant growth in the future, due to the increased demand for better healthcare facilities and improvements in healthcare infrastructure. Moreover, this region presents great opportunities for venture capitalists and investors, as developed markets are relatively saturated.
The Migraine Drugs Market developed report on Migraine Drugs includes factual information and the latest data regarding key industry developments such as mergers, acquisitions, and partnerships supporting market expansion. Also, the new products launched by the major players in the market are further evaluated in this report. It allows to evaluate innovation and technological developments in the industry. The key trends in the industry are further highlighted in this report to analyze the development potential of competitors. The epidemiology of migraine in major segmented regions is recognized along with the major actors in those regions. The impact of the COVID-19 pandemic on the market is further highlighted.
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Drivers and restrictions:
Increase public awareness to promote market expansion
The growth of the global migraine drug market is expected to rise during the forecast period due to the increasing prevalence of neurological disorders. The increased cases in the youth group are likely to increase the demand for the products among the population in the coming years. Also, a sedentary lifestyle is destined to enhance product requirements and develop market access.
However, lack of awareness regarding migraine headache and full awareness of the treatment is expected to hamper the growth of the market.
North America dominates the market by increasing drug availability
North America is expected to hold the most important market share for migraine drugs in the world in the coming years. The major players in the market are focusing on launching new product range that will allow the region to dominate its market share. Prescriptions and over-the-counter medications are readily available and easily accessible, supporting market expansion. The region has a well-established healthcare system that maintains its position in the market.
Europe is likely to rank second in the global market due to the favorable reimbursement policies put in place by the government for healthcare services. The non-governmental support group works to create public awareness of migraine symptoms and disorders.
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Partnerships allow key players to increase productivity
The major players in the migraine drugs market are considering forming strategic alliances and partnering with pharmaceutical and healthcare organizations to increase productivity and profitability. The application of innovation and adoption of technological developments allows companies to expand their market reach and enhance the rate of revenue generation.
List of Major Players present in the Global Migraine Drugs Market Report:
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