Migraine is a neurological disorder often described as intense pulsing or throbbing pain in one area of the head. Migraines are severe headaches that cause throbbing pain, nausea, and sensitivity to light and sound. Typically the headache is unilateral (affecting one half of the head) and pulsating in nature, lasting from 2 to 72 hours. The pain is often unilateral and pulsating in nature, which can often be worsened by physical activity. It is a type of headache that tend to cause other signs and symptoms, too, such as nausea and vision problems. There is no cure for migraine, but drugs can help prevent or stop them, or keep signs and symptoms from getting worse.
Market Statistics:
The global Migraine Therapeutic Market is estimated to account for US$ 5,217.6 Mn in terms of value by the end of 2022.
Drivers:
Increase in demand for safe and effective treatment due to increase in burden of migraine around the world is expected to drive growth of the global migraine therapeutic market during the forecast period. For instance, owing to increase in prevalence of migraine, the demand for safe and effective treatment is also increasing rapidly. In September 2021, AbbVie announced that the U.S. Food and Drug Administration (FDA) approved QULIPTA for the preventive treatment of episodic migraine in adults. QULIPTA is the first and only oral calcitonin gene-related peptide receptor antagonist specifically developed for the preventive treatment of migraine. AbbVie offers 3 treatments across the full spectrum of migraine to help patients living with this debilitating disease
Opportunities:
Growing awareness about migraine and available treatment options is expected to offer significant growth opportunities for players in the global migraine therapeutic market. For instance, June is the National Migraine and Headache Awareness Month (MHAM). MHAM and the full headache, migraine, and cluster communities are working together to raise awareness, enhance education for all, and address stigma. Purple is the official color of National Migraine and Headache Awareness Month (MHAM). 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. With the rise in awareness among people, the demand for migraine therapeutics is also increasing.
Restraints:
Adverse effects of migraine drugs, lack of proper diagnosis, and increasing undiagnosed cases are major factors expected to hamper the growth of the global migraine therapeutic market during the forecast period. For instance, migraines are often undiagnosed and untreated. If there are regular signs/symptoms of migraine, it is important to make an appointment with a 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 global migraine therapeutic market.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/migraine-drugs-market-575
Global Migraine Therapeutic Market - Impact of Coronavirus (Covid-19) Pandemic:
Headache is one of the earliest and most common symptoms during the acute phase of COVID-19. Migraine-like head pain is the most common description of a headache caused by COVID-19. The COVID-19 can cause a moderate to severe headache that can be similar to a migraine attack. Moreover, individuals suffering from migraines prior to COVID infection often report that their symptoms grow worse after getting COVID. This in turn has increased or increasing the demand for migraine therapeutic, driving the growth of the market.
Key Takeaways:
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.
Among therapeutics, pain-relieving medications segment held dominant position in the global migraine therapeutic market in 2022, accounting for 73.6% share in terms of value, increasing approval and launch of new products is expected to propel growth of the segment during the forecast period.
Market Trends:
One of the key trends expected to augment growth of the global migraine therapeutic market is the increase in focus on disease diagnosis. The field of migraine has seen many advances that have the potential to improve diagnosis and provide personalized treatments for the condition. Migraine is difficult to treat, but there have been a number of advancements recently that have revealed new and exciting potential treatments. These new treatments are rapidly becoming available to patients, raising awareness of the complexity of brain diseases, which often overlooked and under-managed. This in trend is expected to continue over the forecast period.
Competitive Landscape:
Major players operating in the global migraine therapeutic market include
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.
Recent Developments:
In December 2021, Biohaven Pharmaceutical Holding Company Ltd. announced that NURTEC ODT (Rimegepant) 75 mg was approved by the Ministry of Health of Israel for the preventive treatment of episodic migraine in adults.
In December 2019, Allergan announced that the U.S. Food and Drug Administration (FDA) has approved Ubrelvy (Ubrogepant) for the treatment of acute migraine.
In December 2018, Eli Lilly and Company and Aduro Biotech announced a research collaboration and license agreement to develop novel immunotherapies.
In May 2018, Novartis and Amgen announced Food and Drug Administration (FDA) approval of Aimovig, a novel treatment developed specifically for migraine prevention.
