Fort Collins, Colorado, Oct. 12, 2023 (GLOBE NEWSWIRE) -- According to DataHorizzon Research, the migraine drugs market size was valued at USD 5.4 Billion in 2022 to reach USD 8.2 Billion by 2032 at a CAGR of 4.3%.
A migraine is a neurological condition leading to a headache that causes severe throbbing pain or pulsing sensation, usually on one side of the head. Headache is followed by nausea, vomiting, and hypersensitivity to light and sound i.e., photophobia and phonophobia, respectively, causing increased trouble. Migraine can be acute, lasting for some hours to long-lasting for about days, causing severe pain and mental disturbance.
The rising prevalence of migraines among the younger population arising from hectic schedules, increasing work pressure, inappropriate sleep cycles, and high alcohol consumption are some factors anticipated to bolster market growth. Migraine is a major cause of disability and imposes an enormous personal and socio-economic burden. Several drugs have been developed for treating migraine, which has proven very effective, leading to increased demand and thus enhancing the market growth.
The rising awareness among people about migraine disorder, government initiatives, and the development of various devices and technologies are creating market growth opportunities in the coming years. Medical devices like Cerena have been developed and intended for patients with pain or headaches. It is the first medical device approved by the FDA, and several other technologies are being developed for the treatment.
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Segmentation Overview:
The global migraine drugs market has been segmented into therapeutic class, treatment, and region. Artificial insemination held a large market share until 2020 because patients prefer it more due to convenience and low-risk factors. The women segment dominated the market with a high market share. The infertility ratio is estimated to be higher in women than men due to factors like unhealthy lifestyles, obesity, and disorders like PCOS and PCOD. North America is anticipated to hold the highest market share until 2022. Currently, one billion people worldwide suffer from migraine disorder, out of which a major share belongs to the U.S. Rising incidences of migraine along with new product launches by key companies developing new medical devices and technologies, are driving the market growth in the region.
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Migraine Drugs Market Report Highlights:
- The global migraine drugs market growth is anticipated at a CAGR of 4.3% by 2032.
- The migraine drugs market growth is driven by the rise in demand for gepants, monoclonal antibodies, and calcitonin gene-related peptide antagonists.
- Assisted reproductive technology procedure is anticipated to grow fastest during the forecast period. With technological advancement, in-vitro fertilization techniques are prevailing and preferred by patients.
- Some prominent players in the migraine drugs market report include Abbott, Amgen, Eli Lilly and Company, Johnson and Johnson, GlaxoSmithKline plc, Teva Pharmaceuticals, Pfizer Inc., Impax Laboratories, Merck and Co., and AstraZeneca.
Industry Trends and Insights:
- In 2023, Tonix’s CNS development portfolio comprises both biologics and small molecules to alleviate pain, psychiatric, and addiction conditions. The TNX-102 SL is under Phase 3 development to manage fibromyalgia. The complete development is expected by December 2023.
- In 2022, Biodelivery Sciences launched a new drug. Elyxyb, is a ready-to-use oral medication approved by the US FDA for treating acute migraine.
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Migraine Drugs Market Segmentation:
- By Therapeutic Class: Triptan, ergot, analgesics.
- By Treatment: Acute treatment, preventive treatment, prophylactic treatment.
- By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.
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