Migraine Drugs Market Overview
The global migraine drugs market is predicted to grow at a 3.9% CAGR between 2020-2030, states the new Market Research Future (MRFR) report. Migraines, simply put, are severe, painful, and recurring headaches, which can be accompanied or preceded by sensory warning symptoms and other signs. Its causes are not yet known but triggers that may set of migraine include hormonal changes in women, emotional triggers such as stress, depression, anxiety, or excitement, physical causes such as poor posture, insufficient sleep, or tiredness, triggers in the diet such as caffeine and alcohol, dehydration and irregular mealtimes, taking medications such as contraceptive pills, sleeping pills, or hormone replacement therapy medications, and triggers in the environment such as bright lights, loud noise or flickering screens. Migraine is of two types- chronic and episodic.
Various factors are propelling the Migraine Drugs Market growth. These factors, as stated by the latest Market Research Future (MRFR) report, include a rising focus on development on migraine drugs, lifestyle changes, unhealthy food consumption, awareness programs undertaken by organizations on prevention as well as treatment of migraine, and high unmet needs. Additional factors propelling the migraine drugs market growth include stressed lifestyle, patent expiration, rising female population, launch and FDA approval of new drugs, increasing incidence of migraines, increasing healthcare expenditure, and awareness about prevention as well as treatment of migraine.
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.
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Migraine Drugs Market Segmentation
• The MRFR report provides an all-inclusive segmental analysis of the migraine drugs market on the basis of drug class, treatment, end user, and type.
• Based on type, the migraine drugs market is segmented into chronic and episodic migraine. Of these, the episodic migraine will have maximum share in the market over the forecast period.
• Based on treatment, the migraine drugs market is segmented into neuromodulation, preventive, acute, and others. Of these, the acute segment will command the largest share in the market over the forecast period owing to its high prevalence and availability of several drugs to treat acute migraines.
• Based on drug class, the migraine drugs market is segmented into triptans, anticonvulsants, tricyclics, angiotensin blockers, beta-blockers, and others. Of these, the triptans segment will lead the market over the forecast period for its high efficacy.
• Based on end user, the migraine drugs market is segmented into research and academic institutes, hospitals and clinics, and others. Of these, hospitals and clinics will dominate the market over the forecast period for being primary treatment centers for patients.
Migraine Drugs Market Regional 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.
Migraine Drugs Market Players
• Allergan Plc (Ireland)
• Alder Biopharmaceuticals Inc. (US)
• Pfizer Inc. (US)
• GlaxoSmithKline Plc (UK)
• Merck & Co. Inc. (US)
• Teva Pharmaceutical Industries Ltd (Israel)
• AstraZeneca PLC (UK)
• Johnson & Johnson Services Inc. (US)
• Amgen Inc. (US)
• Eli Lilly and Company
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