Pune, India, May 12, 2022 (GLOBE NEWSWIRE) -- The global Migraine Drugs Market size is expected to grow due to the rising prevalence of migraine during the forecast period. Fortune Business Insights™ publishes this information in an upcoming report titled, "Migraine Drugs Market, 2021-2028".
Migraine is recognized as a neurological medical condition wherein an individual suffers from a severe headache. These headaches are self-manageable but, in some major cases, require external medications. Various migraine drugs include no-steroidal anti-inflammatory drugs, analgesics, and antipsychotics. The increasing prevalence of neurological disorders among the young population is expected to boost the market. According to the Migraine Research Foundation, over 1 billion people suffer from migraine attacks, and over 39 million people suffer from this neurological condition in the U.S.
Key Industry Development:
January 2020: Use of Ubrogepant introduced by Allergan was approved by the U.S. FDA. The drug effectively treats acute migraine.
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The Migraine Drugs Market is bifurcated into preventative treatment and acute treatment. Preventative treatment includes ergotamine, analgesics and triptans. Acute treatment consists of calcium channel blockers, beta-blockers, anti-convulsants, anti-depressants, anti-serotonergic drugs, and others.
Based on the distribution channel, the market is trifurcated into hospital pharmacy, retail pharmacy, and online pharmacy. Finally, by geography, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Female Population are Mostly Affected
Migraine pain is commonly prevalent in women as compared to men. According to the Migraine Association of Ireland, the ratio of female migraineurs to male migraineurs was found to be 3:1 in the global population in 2018. This is attributed to the changes in estrogen levels in females, especially during menstruation. Moreover, hormonal medications, such as oral contraceptives and hormone replacement therapy may further worsen migraine in women. Therefore, increase in the global female population is anticipated to propel the growth of migraine drugs market.
Rise in focus of vendors on the emerging markets, such as Asia-Pacific and LAMEA, is expected to boost the market growth. Asia-Pacific is projected to witness significant growth in future, owing to rise in demand for better healthcare facilities and improvements in healthcare infrastructure. Furthermore, this region presents remarkable opportunities for the venture capitalists and investors, as the developed markets are comparatively saturated.
The migraine drugs market report developed on migraine drugs includes factual information and the latest data regarding key industry developments such as mergers, acquisitions, and partnerships that support market expansion. Also, new products launched by the key players in the market are assessed further in this report. It allows evaluating innovation and technological developments in the industry. Key trends in the industry are highlighted further in this report to analyze the development potential for the competitors. Epidemiology of migraine in segmented key regions is recognized along with major key players in those regions. The impact of the COVID-19 pandemic on the market is highlighted further.
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Drivers & Restraints:
Rising Public Awareness to Bolster Market Expansion
The global migraine drugs market growth is expected to rise during the forecast period due to the rising prevalence of neurological disorders. Increasing cases in a younger population are likely to enhance product demand among the population in the coming years. Also, a higher sedentary lifestyle is estimated to boost product requirements and develop market reach.
However, lack of awareness regarding migraine and complete treatment awareness is anticipated to hinder the market growth.
North America Dominates Market by Increasing Drug Availability
North America is expected to hold the most significant global migraine drugs market share in the coming years. Key players in the market focus on launching a new product range that allows the region to dominate the market share. Prescriptions and over-the-counter drugs are easily available and accessible that supports market expansion. The region holds a well-established healthcare system that maintains its market position.
Europe is likely to hold the second-largest global market position due to favorable reimbursement policies framed by the government for healthcare services. Non-government supports group works on creating public awareness regarding migraine symptoms and disorders.
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Partnerships Allow Key Players to Increase Productivity
The key players in the migraine drugs market consider forming strategic alliances and partnering with the pharmaceutical and healthcare organizations to increase productivity and profitability. Implementing innovation and adopting technological advancements allows the companies to expand their market reach and enhance revenue generation rate.
List of Key Players Profiled in the Global Market Report for Migraine Drugs:
- Amgen (U.S.)
- Abbott Laboratories (U.S.)
- Allergan (Ireland)
- Eli Lilly (U.S.)
- Pfizer Inc. (U.S.)
- AstraZeneca (U.K.)
- Johnson and Johnson Services Inc. (U.S.)
- GlaxoSmithKline (U.K.)
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