iCrowd Newswire – Jul 17, 2020
Migraine Market Size, Trends and Growth Analysis By types (Episodic and Chronic), by treatment type (Preventive and Abortive), by drug class (Triptans, Ergots, and Others), Global Forecast to 2022
According to Market Research Future (MRFR), the global migraine market size is estimated to expand colossally by 2022, registering a significant CAGR throughout the forecast period (2016 – 2022). The global Migraine Market size is rising pervasively, witnessing a spurting growth in migraine drug sales. The market is predominantly driven by the increasing prevalence of the condition worldwide. The migraine market appears well-developed due to the availability of many novel medicines & therapies to treat symptoms of the disorder, which is impacting the market growth significantly.
Migraine pain is often so severe & incapacitating and can result in sleepless nights, further leading to various health complications. Rising cases of the condition is driving a large share of the global migraine drugs market. Besides, changing lifestyles is supporting market growth, increasing the occurrences of migraines.
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Simultaneously, an increase in the global economy is providing impetus to market growth, enabling access to quality care & improved healthcare worldwide. Moreover, technological advances in medical science foster the growth of the market, excellently, driving innovations & development of medical devices, treatments, and medicines.
The availability of therapeutic medicines is fueling the migraine treatment market size, providing growth opportunities to the market players. Substantial investments in R&D for the development of breakthrough drugs and therapeutics are influencing the market growth. Additionally, the spreading awareness among the population about the availability of migraine treatments substantiates the market growth.
Conversely, large unmet medical needs and drug resistance cases impede the growth of the migraine treatment market. Also, high treatment costs are expected to hamper the growth of the market. Nevertheless, technological advancements transpired in health care are expected to foster market growth, presenting more advanced and cost-effective treatments.
Migraine Market Major Players:
Players active in the migraine market are Eli Lilly and Company, Impax Laboratories, Abbott Laboratories, Inc., Allergan, Pfizer, Inc., Eisai Inc., Klaria, Kowa Pharmaceuticals America, Johnson & Johnson, Meda, Luitpold Pharmaceuticals, Merck, AstraZeneca plc, OptiNose, and GlaxoSmithKline plc, among others.
Migraine Market Regional Analysis
North America dominates the global Migraine market, holding the largest market share. The market is predominantly driven by the rising prevalence of the condition and high healthcare expenditures. Besides, favorable reimbursement scenarios and growing funding support for R&D acts as key driving forces for the regional market growth, increasing the R&D activities for discoveries of breakthrough drugs and therapeutics.
The US accounts for the largest market for Migraine treatments in North America. Heading with the uptake of advanced technologies in Migraine treatment, the North American Migraine market is projected to retain its leading position during the assessment period.
Europe stands second in the global Migraine market due to the growing cases of the disorder across the region. Besides, rising government support for R&D funding, alongside the resurging economy in the region, acts as a major tailwind supporting the regional market growth, availing many novel treatments and drugs. The region is witnessing a spurting rise in the anti-migraine drug market and migraine drug sales. The Europe Migraine treatment market is expected to grow at a considerable CAGR during the review period.
The Asia Pacific region is emerging as the fastest-growing market for migraine treatments. The market is predominantly led by China and India, owing to the vast population and the availability of cost-competitive therapeutics. Moreover, the proliferating healthcare sector and large unmet needs in the region are projected to offer various growth opportunities for the market as well as for players. Vietnam, Thailand, and Malaysia, among other Southeast Asian countries, are projected to contribute to the regional market growth significantly. The migraine drugs market share of the APAC region is expected to grow substantially.
Migraine Market Competitive Landscape
Highly competitive, the Migraine market appears fragmented, with many well-established players forming a competitive landscape. To gain a larger competitive share in the market, mergers & acquisitions, collaborations, expansions, and product/technology launch remain key strategies for these players. Since the launch- based competition is trending; these fervent players initiate R&D activities and clinical trials.
They invest substantially in developing breakthrough medicines to increase their migraine drugs market share. They also make huge investments to expand their global footprints. To meet their expansion goals, players acquire small yet promising companies from emerging markets. The market attracts several new entrants to the market, which, in turn, intensifies the competition further. Also, product launches result in making the competition in the market fierce.
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Migraine Industry/Innovation/ Related News:
Eli Lilly and Company (the US), a leading global pharmaceutical company, announced receiving the FDA approval for its latest migraine drug REYVOW™. The New drug is an oral medication suggested for the acute treatment of migraine, with or without aura, in adults. REYVOW is the only FDA-approved medicine for acute migraine treatment.
Having compositions of serotonin (5-HT) 1F receptor agonists, the drug has a unique mechanism of action. Being the 1st FDA approved migraine medicine, REYVOW strengthens Eli Lilly and Company’s position as a pioneer in providing new options for migraine management.
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Keywords: Migraine Market Size, Migraine Market Trends, Migraine Market Share, Migraine Market Insights, Migraine Market Growth