Migraine Drugs Market Highlights
The
global migraine market witnesses rising growth. The continual growth attributes
to the increasing prevalence of the condition worldwide. The pain and symptoms
associated with this debilitating and recurrent, chronic neurologic disease
severely impact the quality of life of sufferers. Chronic migraine
disorder can result in extruding pain and sleep-less nights, further leading to
various health complications. The migraine market is a well-developed space
with the availability of many novel medicines and therapies to treat symptoms
of the condition.
The
availability of various innovative, effective treatments is a key driving force
influencing market growth significantly. According to Market Research Future
(MRFR), the Migraine
Market Share is projected to reach USD 2.2 billion by 2030 at CAGR of
3.10% during the forecast period 2022-2030. In its recently published
market forecast, MRFR also asserts that the market would grow at a moderate
CAGR throughout the forecast period (2022– 2030). The availability of
therapeutic medicines is fuelling market growth, providing growth opportunities
to the market.
Substantial
investments made in the R&D for the development of breakthrough drugs and
therapeutics are influencing the market growth. Additionally, spreading
awareness about the availability of migraine treatments, changing lifestyles,
and increasing occurrences of the condition among the growing population
substantiates the market growth. Simultaneously, improving economic conditions
provides impetus to market growth, enabling access to quality care worldwide.
Moreover,
technological advancements transpired in medical science led by substantial
investments foster the growth of the market excellently, bringing about
innovative medical devices, therapeutics, and medicines. On the other hand,
large unmet medical needs and drug resistance cases hamper market growth.
Also,
high costs associated with the treatments are anticipated to impede market
growth. Nevertheless, technological advancements transpired in health care
would support the growth of the market, presenting more advanced and
cost-effective treatments.
Global Migraine Market - Competitive Analysis
The
Migraine
market outlook appears to be fiercely competitive and fragmented due to the
presence of several well-established players. They alongside, the new entrants,
form a completive landscape in the market. They incorporate strategic
initiatives such as collaboration, mergers & acquisitions, expansion, and
technology launch. Substantial investments are transpired in clinical trials
and the development of effective drugs.
Major Players:
The Migraine
market Players are Impax Laboratories, Allergan, Abbott Laboratories,
Inc., Eli Lilly and Company, Eisai Inc., Pfizer, Inc., Klaria, Johnson &
Johnson, Kowa Pharmaceuticals America, Meda, Merck, Luitpold Pharmaceuticals,
OptiNose, GlaxoSmithKline plc, and AstraZeneca plc, among others.
Global Migraine Market – Segmentations
The report is segmented into four market dynamics to widen the
scope of understanding,
By
Types
: Episodic and Chronic.
By Treatment Type : Preventive and Abortive.
By Drug
Class
: Triptans and Ergots, among others.
By Regions
:
Asia Pacific, North America, Europe, and the Rest-of-the-World.
Global Migraine Market - Regional Analysis
North
America heads the global Migraine market with the largest market share.
Favorable reimbursement scenarios and high healthcare expenditures are key
driving forces behind the regional market growth. Also, the wide uptake of new
technologies in the treatment of migraines drives the growth of the market
substantially. The US, heading with its well-developed Migraine treatment
market, accounts for the largest share in the regional market.
Europe
stands the second-leading position in the global Migraine market. The
increasing prevalence of the condition drives market growth. Besides, the
resurging economy acts as a tailwind to the regional market growth, availing
many novel treatments and drugs. The European Migraine treatment market is
expected to grow at a considerable CAGR.
The
Asia Pacific Migraine market is estimated to emerge as the fastest-growing
market from 2018 to 2023. China and India predominantly lead the APAC migraine
market, heading with the vast population and the availability of
cost-competitive therapeutics.
Moreover,
the proliferating healthcare sector, coupled with large unmet needs in the
region, would provide impetus to the regional market over the assessment
period. Besides, Vietnam, Thailand, and Malaysia, among other Southeast Asian
countries, are projected to contribute significantly to the regional market
growth.
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