Migraine Drugs Market Overview
Migraine is a disorder leading to extruding pain, sleep-less night, and various health complications. Recently, the US FDA has been approving considerable numbers of drugs aiming to prevent and make migraine occurrences lesser. Despite the recent advances in drug discoveries, there are vast numbers of cases unmet needs, which foster the growth of the market, driving investments in drug developments.
Acknowledging the continuous rise in the market size, Market Research Future (MRFR) migraine drugs market research report asserts that the global industry would create a valuation of USD 6986.02 MN by 2030. In its recent study report, MRFR also states that the market is estimated to register a CAGR of 3.65% during the assessment period (2022 – 2030).
Over the past few years, the global migraine drug market is rising pervasively due to the increasing prevalence of the condition. Besides, the availability of novel medicines & therapies to treat symptoms of the condition, impact the growth of the market positively. Due to the availability of many breakthrough drugs, the market appears to be a well-developed space. Moreover, heady lifestyles accelerate market growth, increasing occurrences of the condition.
Substantial investments made in the R&D for the development of medicines and therapeutics is influencing the market growth. Additionally, spreading awareness about the availability of migraine treatments among the increasing population substantiates the market growth. Simultaneously, improving economic conditions are providing impetus to market growth, enabling access to quality care & improved healthcare worldwide.
Certainly, technological advances in manufacturing techniques and medical science are significant growth drivers of the market. Substantial investments foster the growth of the market, excellently, driving innovations & developments.
On the other hand, large unmet medical needs and drug resistance cases hamper the market growth. Nevertheless, increasing government initiatives and rising regulatory approvals would support the growth of the market, presenting more advanced and cost-effective treatment options.
Global Migraine Drugs Market – Segmentations
The report is segmented into four main dynamics to widen the scope of understanding,
By Type : Episodic Migraine and Chronic Migraine.
By Treatment Type : Acute Treatments, Preventive Treatments, Combination, and others.
By End-user : Hospitals & Clinics, Retail Pharmacy, Online Pharmacy, and others.
By Regions : Americas, Europe, Asia-Pacific, Middle East & Africa, and Rest-of-the-World.
Migraine Drugs Global Market – Geographical Analysis
North America is projected to continue to lead the global migraine drug market. The significant share of the market attributes to favorable reimbursement scenarios and high healthcare expenditures. Also, a wide uptake of new technologies for the formulations of new migraine drugs acts as a key driving force for the growth of the regional market. US is the largest market for migraine drugs in North America.
Europe stands second in the global migraine drugs market. Factors such as the increasing prevalence of the condition drive the growth of the market, creating a huge patient pool. Besides, the resurging economy in the region pushes the growth of the regional market, availing many novel treatments and drugs. The European migraine drugs market is expected to grow at a considerable CAGR during the review period.
The migraine drugs market in the Asia Pacific region is estimated to grow rapidly over the assessment period. The market is predominantly driven by China and India, owing to the vast population and the availability of cost-competitive therapeutics. Moreover, the proliferating healthcare sector, coupled with the large unmet needs in the region, would provide impetus to the regional market growth over the forecast period.
Global Migraine Drugs Market – Competitive Analysis
Fiercely competitive, the migraine drugs market appears to be fragmented, with several well-established players forming a competitive landscape. To gain a bigger market share, these players adopt approaches such as mergers & acquisitions, collaboration, and technology launch. To meet their expansion plans, these players acquire small yet promising companies from the emerging markets. They invest substantially in clinical trials and the development of effective drugs.
Leading players highlighted in the migraine drugs market report are Alder Biopharmaceuticals, Inc. (US), Allergan Plc. (Ireland), Pfizer Inc. (US), Merck & Co., Inc. (US), GlaxoSmithKline Plc (UK), Teva Pharmaceutical Industries Ltd. (Israel), Johnson & Johnson Services, Inc. (US), AstraZeneca PLC (UK), Amgen Inc. (US), eNeura Inc., and Eli Lilly and Company, among others.
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