Migraine Drugs Market Is Expected to Witness Rapid Growth in Coming Years
According to the current analysis of Reports and Data, the global Migraine Drugs market was valued at USD 2.91 Billion in 2021 and is expected to reach USD 10.86 Billion by the year 2030, at a CAGR of 15.6%. Migraine treatments are intended to stop the symptoms or for preventing future attacks on the patients. The factors driving the growth of the target market include the increasing awareness about novel drug classes and the rising incidence of migraines problems across the globe. Also, the launch of calcitonin gene-related peptide (CGRP) is expected to drive the growth of this industry. Migraine is defined as a type of intense and recurring headache accompanied by phonophobia, photophobia, and nausea. The condition arises due to genetic origins. However, emotional imbalances such as depression, stress, anxiety, shock, and excitement can trigger migraine attacks.
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There have been various types of medication alternatives for preventing and healing migraines but has severe side effects as well, ranging from weight changes, dizziness, nausea and more in an adult with no background of any other medical condition. For women in pregnancy, sumatriptan are the safest option for the treatment and anticonvulsant medicines are contraindicated. However, the approval of the U.S. Food and Drug Administration for the new class of drug specially designed to treat migraine has transformed the market positively. The new FDA approved drugs are Aimovig (Erenumab), Emgality and Ajovy. In September 2020, Eli Lilly and Company received the U.S. Food and Drug Administration (FDA) approval for Emgality (galcanezumab-gnlm), a 120 mg injection for the preventive treatment of migraine in adults.
North America dominates the market in terms of geography. Migraine affects around 36 million Americans or approximately 12% of the population of the region, according to the American Migraine Association. The rising vendor focus on emerging markets such as Asia-Pacific, Latin America and Middle East Africa is predicted to fuel the market growth. Asia-Pacific is projected to see major growth in the future due to increased demand for better healthcare services and strengthened healthcare infrastructure.
Furthermore, increased awareness initiatives, availability of research funds from private as well as public bodies, improvement in the reimbursement scenario for associated medications, and rising awareness about the effectiveness of such medications are among the key factors propelling the growth of Migraine Drugs market.
Further key findings from the report suggest
- Preventive medications segment is expected to grow with a CAGR of 13.1% during the forecast period. Pain relieving medications remain the chief revenue generating segment in the global Migraine Drugs market.
- New action pathways such as CGRP-based receptor and ligand inhibition, corticotrophin receptor antagonism, and nitrous oxide inhibition are the subject of current research. One of the main advances in the preventive industry is the acceptance of CGRP monoclonal antibodies.
- Amgen and Novartis are the first movers in the market of CGRP with the launch of Aimovig and hence would be in the position of benefit. Also, the favorable reimbursement scenario and an easy-to-use pen-device administration of the medication would be advantageous to the growth of the target product. The therapeutics after its release in July 2020 in Europe and May 2020 in North America received positive responses from both physicians and healthcare providers.
- The launch of Aimovig at a lower than expected price will facilitate patient access and help drive the sales of therapeutics in preventive migraine space, which is expected to be crowded and competitive with CGRP mAbs from Eli Lilly and Alder and Teva Pharma.
- North America remains the key revenue generating geographical segment in the target market. The geographical segment accounted for USD 496.7 million in 2020. Presence of key market players in the region, favorable reimbursements for migraine medications, rising focus on precision medicine, and rising awareness about different medication for migraine, are among the key factors driving the market growth for Migraine Drugs in this region
The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as R&D investments, license agreements, partnerships, merger and acquisitions, collaborations, and joint ventures to gain robust footing in the market.
Top Companies Profiled in the Report:
Pfizer, GlaxoSmithKline, Allergan, Amgen, Eli Lilly, Teva Pharma, Biohaven Pharma, Abbott Laboratories, Johnson & Johnson, and Valeant Pharma,
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Migraine Drugs Market Segmentation:
Product Outlook (Revenue, USD Billion; 2019-2030)
- Pain relieving medication
- Pain relievers
- Opioid medication
- Anti-nausea drugs
- Preventive medication
- Blood-pressure lowering medication
- Anti-seizure drugs
- Botox injection
- Calcitonin gene-related peptide
Route of administration Outlook (Revenue, USD Billion; 2019-2030)
- Nasal sprays
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Latin America (Brazil, Rest of LATAM)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
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