Market Research Report
Global Migraine Drugs Market (by Mode of Administration, Treatment Class & Regions): Insights and Forecast with Potential Impact of COVID-19 (2020-2024)
|Global Migraine Drugs Market (by Mode of Administration, Treatment Class & Regions): Insights and Forecast with Potential Impact of COVID-19 (2020-2024)|
Published: September 14, 2020
Content info: 107 Pages
Delivery time: 1-2 business days
The global migraine market is expected to reach US$5.10 billion in 2024, growing at a CAGR of 3.7%, for the duration spanning 2020-2024. The factors such as growing female population, increasing cigarette consumption, increasing pharmaceutical R&D expenditures, accelerating economic growth, increasing healthcare spending, increasing stress levels, unmet medical needs and prevalence of migraine at high rates would drive the growth of the market. However, the market growth would be challenged by adverse effect of drugs, lack of proper diagnosis, increased preferences for alternative options, regulatory challenges and high cost associated. A few notable trends include, growth in pharmaceutical & biotech merger & acquisition, progressing CGRP targeting drug pipeline, branded acute treatment for episodic migraine, growing awareness regarding migraine and its therapeutics and development of additional migraine therapeutics.
The global migraine market holds a lucrative growth opportunity for the coming future due to the high prevalence rate of migraine among people. Migraine market is expected to witness the advent of first-in-class novel migraine therapeutics, especially meant for patients who are unresponsive to triptans or ones at risk of cardiovascular disorders. A considerable amount of funds are being invested in the research and development of new migraine drugs, in order to make such therapeutics available in market. A number of drugs are under late stage clinical process and some therapeutics are registered for the FDA approval. Launches of new migraines drugs would thereby help the migraine market to grow globally in coming years.
The fastest growing regional market is North America, due to the presence of well established healthcare infrastructure as well as major pharmaceutical players. Increased retail sales of triptans and ergot alkaloids, demanded by the people with acute migraine conditions for the abortive purpose, helped the market to grow at a considerable pace in the region. Europe and Asia Pacific also secured considerable shares in the migraine market, owing to the high prevalence rate of migraine, along with the increased programmes of collaboration and partnership in the pharmaceutical sector. Further, the sudden outbreak of COVID-19, would trigger the stress levels among people, due to the implementation of the lockdown measures, which would elevate the risk of migraine among them and thereby is expected to accelerate the growth of the global migraine market in coming years.