PUBLISHER: The Business Research Company | PRODUCT CODE: 1455279
PUBLISHER: The Business Research Company | PRODUCT CODE: 1455279
Migraine drugs are medications designed to address a neurological condition characterized by intense, throbbing headaches. These drugs operate by targeting various physiological mechanisms responsible for causing migraines.
The primary classes of migraine drugs include triptans, beta-blockers, angiotensin blockers, tricyclics, and anticonvulsants. Triptans, for example, work by altering blood circulation in the brain and modulating how the brain processes pain signals. These drugs can be administered through various routes, such as oral or injectable, and are utilized by diverse end-users, including hospitals and clinics, retail pharmacies, online pharmacies, and others.
The migraine drugs market research report is one of a series of new reports from The Business Research Company that provides migraine drugs market statistics, including migraine drugs industry global market size, regional shares, competitors with a migraine drugs market share, detailed migraine drugs market segments, market trends and opportunities, and any further data you may need to thrive in the migraine drugs industry. This migraine drugs market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The migraine drugs market size has grown strongly in recent years. It will grow from $5 billion in 2023 to $5.38 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth observed in the historical period can be attributed to various factors, including advancements in drug formulations, heightened awareness and diagnosis of migraines, the impact of stress and lifestyle factors on migraine prevalence, the expansion of generic drugs in the market, and the emergence of CGRP (calcitonin gene-related peptide) inhibitors as a notable treatment option.
The migraine drugs market size is expected to see strong growth in the next few years. It will grow to $6.84 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The anticipated growth in the forecast period can be attributed to several factors, including the adoption of personalized medicine approaches in migraine treatment, the increasing use of telemedicine and remote consultations for healthcare delivery, the influence of healthcare policy and insurance coverage on migraine care, the rising global burden of migraines, and the exploration of combination therapies. Key trends expected in the forecast period include the development of targeted therapies, the continued use of telemedicine and remote consultations, a shift towards patient-centric approaches in migraine management, the emergence of digital therapeutics, the integration of biosimilars in migraine treatment, and an emphasis on clinical research and trials in this field.
The anticipated growth of the migraine drugs market is expected to be propelled by the increasing female population. The female population, encompassing females across all age groups in each country or region during a specific period, plays a crucial role in driving the demand for migraine medications. The prevalence of migraines is notably higher in the female population compared to males, influenced by a combination of genetic, hormonal, and environmental factors. As of 2022, according to the World Population Prospects 2022 released by the United Nations, the global female population is estimated at 4.00 billion, constituting 49.75% of the world population. Projections suggest that females will outnumber males by the year 2049. Consequently, the expanding female population serves as a key driver behind the growth of the migraine drugs market.
The increase in the prevalence of migraines is expected to further contribute to the growth of the migraine drug market in the coming years. Migraine headaches, characterized by recurring episodes of pulsing and pounding pain on one side of the brain, have become more prevalent, leading to a rising demand for effective migraine medications. This surge in prevalence fuels innovation and sales growth as pharmaceutical companies develop and provide therapies to address the needs of an expanding patient population. For instance, as reported in March 2023 by the Migraine Australia 2022-23 Pre-Budget Submissions, a document released by the Australian Treasury, Australia has one of the highest migraine rates globally (28%), affecting one in every four people. This prevalence surpasses that of type 2 diabetes, epilepsy, and asthma combined. Therefore, the increasing prevalence of migraines stands as a significant driver for the growth of the migraine drug market.
The anticipated growth of the migraine drug market is expected to face constraints due to the high cost associated with migraine treatment. The elevated expenses related to migraine therapy may create barriers to patients' access to effective migraine drugs, potentially hindering the overall growth of the migraine drug market. Affordability issues could result in restricted access to crucial medications, thereby impeding drug sales. For example, as reported in August 2022 by the Journal of Headache and Pain published in BioMed Central, a UK-based open-access publishing platform, the average price per prescription for migraine drugs had risen from $200 to $300. Consequently, the high cost of migraine treatment stands as a restraint on the growth of the migraine drug market.
Major companies operating in the migraine drugs market are concentrating on the development of innovative products to enhance patient care and gain a competitive advantage. One such example is Zavzpret, a nasal spray medication designed for the acute treatment of migraines with or without aura in adults. For example, in March 2023, Pfizer, a US-based pharmaceutical company, obtained approval from the Food and Drug Administration (FDA) for Zavzpret. It is the first and only approved zavegepant (CGRP receptor antagonist) nasal spray for the acute treatment of migraine. Targeting the calcitonin gene-related peptide (CGRP), Zavzpret offers a new treatment option, particularly for individuals experiencing migraines with nausea and vomiting, as well as for those unable to use triptans due to cardiovascular risks.
In May 2022, Pfizer Inc., a US-based pharmaceutical and biotechnology corporation, acquired BioHaven Pharmaceutical Holding Company Ltd. for $11.6 billion. Through this acquisition, Pfizer aims to commercialize NURTEC ODT (rimegepant), an innovative compound for the prevention and acute treatment of migraines. This strategic move underscores the pharmaceutical industry's commitment to advancing migraine drug development and addressing patient needs.
Major companies operating in the migraine drugs market report are Pfizer Inc., Johnson & Johnson Services Inc., Bayer AG, Merck & Co. Inc., AbbVie Inc., AbbVie Inc., Sanofi SA, Novartis AG, AstraZeneca, Abbott Laboratories, GlaxoSmithKline plc., Eli Lilly and Company, Amgen Inc., Otsuka Holdings Co. Ltd., Teva Pharmaceutical Industries Ltd., Bausch Health Companies Inc., Eisai Co. Ltd., Dr Reddys Laboratories Ltd., H. Lundbeck A/S, Amneal Pharmaceuticals Inc., Endo Pharmaceuticals Inc., Neurelis Inc., ALDER BIOPHARMACEUTICALS INC., eNeura Inc., Winston Pharmaceuticals Ltd.
North America was the largest region in the migraine market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the migraine drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the migraine drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The migraine drugs market consists of sales of analgesics, ergotamines, sumatriptan, and rizatriptan. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Migraine Drugs Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on migraine drugs market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for migraine drugs ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The migraine drugs market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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