Global Migraine Drugs Market - 2023-2030
Market OverviewThe global migraine drugs market reached USD 4,035.8 million in 2022 and is projected to witness lucrative growth by reaching up to USD 9,791.1 million by 2030. The migraine drugs market is expected to exhibit a CAGR of 12.1% during the forecast period (2023-2030), owing to the increase in the preponderance of migraine globally and the increase in awareness regarding migraine and their therapy choices. Additionally, a rise in demand for secure and efficacious therapy and an increase in research and development is anticipated to promote the growth of the market.
Market DynamicsThe Treatment Advancements are Expected to Drive the Migraine Drugs Market Growth During the Forecast Period.
The treatment advancements such as the advancements in new drugs and new drug delivery systems (needle injections, nasal sprays) are expected to drive the global migraine drugs market growth during the forecast period. For example, a few of these medications can treat migraine 2-4 hours into an attack when compared to the pre-existing therapies that perform satisfactorily if administered within 30 minutes.
The Increasing Funding for Clinical Research is Providing Growth Opportunities for Migraine Drugs Market.
The growing funding to the key market players is ensuring growth opportunities for the global migraine drugs market in the upcoming years. For instance, in August 2022, Theranica, an Israel-based digital therapeutics designer concentrated on migraine care, raised around USD 45 million in Series C funding.
COVID-19 Impact AnalysisThe COVID-19 analysis includes Pre-COVID Scenario, COVID Scenario, and Post-COVID Scenario along with pricing dynamics (including pricing change during and post-pandemic comparing it to pre-COVID scenarios), demand-supply spectrum (shift in demand and supply owing to trading restrictions, lockdown, and subsequent issues), government initiatives (initiatives to revive market, sector or industry by government bodies) and manufacturers strategic initiatives (what manufacturers did to mitigate the COVID issues will be covered here).
Russia-Ukraine Conflict Analysis
Ukraine and Russia are both extensive bases for international clinical trial activities. The attack on Ukraine may cause an underpowering of global drug development outcomes including drugs for migraine with the failure of prospective recruitment locations for both nations. The turmoil and disorder induced by military confrontation have a significant influence over healthcare including migraine drugs and others.
Global Recession Impact Analysis
The healthcare industry is not completely immune to recession, as healthcare institutions thought firings and employing freezes during past financial downturns. That stated, the industry does cope finer than other sectors because of its essential nature. However, the danger of recession threatens the market as inflation persists increasing. The elevated extent of tension about the persistent recession could hold a substantial influence on the scleroderma market over the following few years.
Artificial Intelligence Impact Analysis
In May 2023, Healint, a virtual clinical trial platform-delivering company, partnered with the Saitama Medical University Hospital in Japan to experiment with how AI could be employed to detect migraines. The investigation is fueled by Healint's Migraine Buddy platform for data. The research will investigate how AI could diagnose patients, pick therapies and pinpoint possible fatal circumstances positively impacting the global migraine drugs market in the upcoming years.
Segment AnalysisThe global migraine drugs market is segmented based on phase, design, indication, service, and region.
The Retail Pharmacy Segment is Estimated to Hold a 35% Share of the Global Market by 2030.
The majority of migraine preventive or abortive medications are intended for relieving the induced symptoms and averting or subsiding the migraine attack. These medications are primarily analgesics and OTC medicines that are easily available from retail pharmacies. Therefore, the retail pharmacy segment is estimated to hold a dominant share of the global migraine drugs market accounting for around 35.0% of the total market throughout the forecast period.
Geographical AnalysisEurope is Estimated to Hold the Second-largest Share of the Global Migraine Drugs Market During the Forecast Period.
Europe is estimated to hold around 28.2% of the total migraine drugs market owing to the high spending on migraine by European individuals and the efforts by various organizations to spread awareness about migraine in this region. For instance, according to a new article published in September 2022, at the recent Migraine Trust International Symposium, the world’s longest-established headache medical conference, supporters gathered jointly to reach for enhanced guidelines for those impacted by migraine. Migraine persists to be a considerable public health issue across Europe costing European economies an assessed €55 billion yearly in immediate and indirect health care costs.
Competitive LandscapeThe major global players in the market include Allergen, Eisai, Ltd., AstraZeneca plc, Abbott Laboratories, Eisai Co., Ltd., Endo International Plc., GlaxoSmithKline Plc., Merck & Co., Inc., Pfizer Inc., and Johnson & Johnson among others.
Why Purchase the Report?• To visualize the global migraine drugs market segmentation based on type, route of administration, distribution channel, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of migraine drugs market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.
The global migraine drugs market report would provide approximately 53 tables, 54 figures, and 195 Pages.
Target Audience 2023• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies