MIGRAINE THERAPEUTIC MARKET ANALYSIS

The global migraine therapeutic market was valued at US$ 4,785.8 Mn in 2021 and is forecast to reach a value of US$ 8,979.8 Mn by 2028 at a CAGR of 9.5% between 2022 and 2028. The global migraine therapeutic market is experiencing strong growth due to the rise in prevalence of migraine worldwide and rise in awareness about migraine and its treatment options. Moreover, increase in demand for safe and effective treatment and rise in research and development around the world is expected to boost the growth of the market. However, factors such as adverse effects of migraine drugs and lack of proper diagnosis and increasing undiagnosed cases are expected to hamper the growth of the global migraine therapeutic market.

Global Migraine Therapeutic Market: Regional Insights

Based on geography, the global migraine therapeutics is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.

Among regions, North America is expected to gain highest share in the market over the forecast period due to the high prevalence of migraine and rise in awareness among people about migraine and its therapeutics in this region. For instance, according to the Migraine Research Foundation, migraines affect more than 39 million people in the United States and women are three times more likely to get migraines than men. According to the Migraine Institute, around 43% of U.S. women and 18% of men will experience migraines at some point in their life. Thus, there is an increasing demand for migraine therapeutics in the United States.

Asia Pacific is also expected to witness robust growth in the global migraine therapeutic market due to the rise in burden of migraine, increasing adoption of novel therapeutics, and the large target population in the region. For instance, according to a 2019 Study by Lancet Global Health, more than 213 million people in India were found to be suffering from migraine in 2019 while 60% of these cases were reported by women. The prevalence of migraine was higher in women aged 35-59 years than in men of the same age. This in turn has increased and/or increasing the demand for migraine therapeutics in India, driving the market growth.

Figure 1. Global Migraine Therapeutic Market Share (%), by Region, 2022

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Global Migraine Therapeutic Market Drivers:

Rise in burden of to migraine to underpin market growth

One of the key factors expected to augment the growth of the global migraine therapeutic market during the forecast period is the rise in prevalence of migraine worldwide. For instance, headache disorders, including migraine, are the second-leading cause of years lived with disability (YLD) worldwide among men and women. According to National Center for Biotechnology Information, migraine affects more than one billion people each year worldwide, and is one of the most common neurologic disorders, with a high prevalence and morbidity, especially among young adults and females. Thus, there is an increase in demand for migraine therapeutics.

Increasing awareness among people to augment market growth

Another factor which is driving the growth of the global biosurgery market is the rise in awareness among individuals about migraine and its treatment options. For instance, migraines are a chronic neurological disorder that affects around one billion people around the world. With the increase in awareness among people, the demand for migraine therapeutics is also increasing. Every year, the United Kingdom observes Migraine Awareness Week in the first week of September. In 2023, it will be observed from September 4 to 13. Purple is the official color of the National Migraine and Headache Awareness Month (MHAM).

Global Migraine Therapeutic Market Opportunities:

Increase in demand for safe and effective treatment across the globe is expected to offer significant growth opportunities for players in the migraine therapeutic market. For instance, with the increase in burden of migraine and increase in awareness, the demand for safe and effective treatment is also increasing rapidly. In January 2022, BioDelivery Sciences announced the launch of new drug, Elyxyb (celecoxib oral solution), a fast-acting liquid. Elyxyb is one of the first U.S. Food and Drug Administration (FDA) approved ready-to-use oral solutions for adults in the treatment of migraine, with or without aura. This in turn is driving the market growth.

Rise in research and development (R&D) around the world is expected to offer significant growth opportunities for players in the global migraine therapeutic market. For instance, in April 2020, Novartis announced that clinical data for Aimovig (erenumab) was reported in Neurology. Real-world evidence supports benefits seen in Aimovig clinical trials. This data strengthens the role of Aimovig as a preventive migraine treatment and confirms its real-world and long-term safety and efficacy benefit in patients with episodic and chronic migraine. This in turn is expected to augment the growth of the global migraine therapeutic market.

Global Migraine Therapeutic Market Trends:

Increase in focus on disease diagnosis is a recent trend

The field of migraine has seen many new advances that have the potential to improve diagnosis and provide more personalized treatments for this condition. New treatments are rapidly becoming available to patients, raising awareness of the complexity of brain diseases, which often overlooked and under-managed. Migraines are difficult to treat, but there have been a number of advancements recently that have revealed new and exciting potential treatments. This in turn is expected to drive the growth of the global migraine therapeutic market.

Increase in consumer awareness is another trend

Although migraine sufferers are aware of their headaches, they are often not aware that they have a migraine. This can lead to inappropriate and/or ineffective use of treatments, delays in receiving appropriate care, and miscommunication during clinical encounters. June is National Migraine & Headache Awareness Month (MHAM), and the full headache, migraine, and cluster communities are working together for our diseases to be recognized. This trend is expected to continue over the forecast period, driving the growth of the market.

Global Migraine Therapeutic Market Restraints:

Side effects of migraine drugs to hinder market growth

One of the key factors expected to hamper the growth of the global migraine therapeutic market is the adverse effects of migraine drugs. Common adverse effects include nausea/vomiting, diarrhea, drowsiness, headache, tingling or numbness in toes, and tightness or discomfort in the chest/throat. Sleepiness and fatigue are also common in migraine patients. The other less frequently mentioned side effects include muscle weakness, warm sensations, and chest pressure. NSAIDS (nonsteroidal anti-inflammatory drugs like ibuprofen) are the first line of treatment when it comes to migraines, and are the safest medication for migraines.

Increasing undiagnosed cases to hamper market growth

Another factor which is hampering the growth of the global migraine therapeutic market is the lack of proper diagnosis and increasing undiagnosed cases. Migraines are often undiagnosed and untreated. If there are regular signs/symptoms of migraine, it is important to make an appointment with the doctor to discuss ways to treat and manage migraines. It is also important to get medical help immediately if the headache feels different from the usual migraine headaches. Moreover, the lack of consultation for headache is also found to be a major contributing factor to underdiagnosed cases. This in turn is restraining the growth of the market.

Figure 2. Global Migraine Therapeutic Market Share (%), by Therapeutics, 2022

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Global Migraine Therapeutic Market Segmentation:

The migraine therapeutic market report is segmented into Therapeutics, Route of Administration, and Geography.

Based on Therapeutics, the market is segmented into Pain-relieving Medications and Preventive Medications. Of which, Pain-relieving Medications Segment is expected to dominate the global migraine therapeutic market over the forecast period and this is attributed to the increase in demand for pain-relieving migraine medications. These over-the-counter and/or prescription pain relievers include non-steroidal anti-inflammatory drugs (NSAIDs), Opioids, and salicylates. NSAIDs are the commonly used drugs for patients with migraine.

Based on Route of Administration, the market is segmented into Oral and Nasal and Injection. Of which, Oral and Nasal Segment is expected to dominate the market during the forecast period and this is attributed to the increase in use of oral and nasal migraine medications. Oral and nasal medications are the most frequently used route of administration for the migraine treatment.

Global Migraine Therapeutic Market: Key Developments

In March 2022, AbbVie reported a positive phase 3 progress trial evaluating atogepant (QULIPTA in the U.S.) for the preventive treatment of chronic migraine in adults.

In November 2021, Biohaven Pharmaceutical Holding Company Ltd. and Pfizer Inc. collaborated for the commercialization of Rimegepant outside the United States. Rimegepant is commercialized as Nurtec ODT in the U.S., and is indicated for the acute treatment of migraine attacks with/without aura and the preventive treatment of episodic migraine in adults.

In September 2021, the United States Food and Drug Administration (FDA) approved QULIPTA (atogepant) to AbbVie for the prevention of episodic migraine in adults.

In July 2019, Biohaven Pharma Holding Company Ltd. announced the launch of a campaign called 'Demand More' highlighting what patients want and need from an acute treatment of migraine in their own words. It helps in increasing the awareness regarding migraine.

Global Migraine Therapeutic Market: Key Companies Insights

The global migraine therapeutic market is highly competitive. This is attributed to the increase in demand for safe and effective migraine therapeutics, as a result, players in the market are focusing on launching novel products in the market.

Some of the key players in the global migraine therapeutic market are:

Pfizer Inc., Novartis International AG, Merck & Co. Inc., GlaxoSmithKline PLC, Eli Lilly and Company, AstraZeneca PLC, Amgen Inc., Allergan Inc., Bausch Health Companies Inc., and Teva Pharmaceutical Industries Ltd., among others.

*Definition: Migraine is a neurological disorder often described as intense pulsing or throbbing pain in one area of the head. Migraines are a type of headache that tend to cause other symptoms, too, such as nausea and vision problems. There's no cure for migraines yet. But medications can help prevent or stop them, or keep signs and symptoms from getting worse. People can also avoid things that trigger their migraines.