Migraine Drugs Market

Global Migraine Drugs Market Size (2023 to 2028)

The global migraine drugs market size is projected to value USD 5.9 billion by 2028 and USD 4.65 billion in 2023, growing at a CAGR of 4.87% during the forecast period.

Global Migraine Drugs Market Share Insights:

• The U.S. had the most significant share of the worldwide market in 2022 due to the growing patient volume suffering from migraines.
• The European market held a substantial share of the worldwide market in 2022.

Migraine is a typical headache due to nerves and blood vessels' involvement, mostly seen more in women than men. Two medications are used to treat migraines; some work for a cure, and others for prevention. Migraine patients are more prone to psychiatric conditions and have a high chance of acquiring bipolar disorders when compared to ordinary people. In addition, people with migraines are more at risk for sleep disorders and depression. A migraine has symptoms such as severe pain intensity, nausea, vomiting, photophobia, and phonophobia, and some reasons for migraine are sounds, smells, an extended stay in sunlight, and others.

Drugs that cure migraine:

• Anticonvulsants (Topiramate)
• Beta-Blockers (Propranolol)
• Antihistamine (Cyproheptadine)
• Botulinum Toxin
• Histamine Calcium Channel Blockers (Verapamil)

MARKET DRIVERS:

The growing incidence of migraine among people, the rising population worldwide, and the growing demand for quality drugs are significant factors driving the growth of the global migraine drugs market.

According to the Migraine Research Foundation, migraine ranked as the 3rd most prevalent illness and 6th most disabling worldwide. Around 39 million in the United States and over 1 billion population is now suffering from migraine. According to a Medline article, nearly 12% of the U.S. Suffers from migraine headaches. The treatment of this migraine headache is treatable by using preventive drugs. For Instance, a device known as the Cefaly Transcutaneous Electrical Nerve Stimulating device is approved by the FDA to treat migraines. This device increases the trigeminal nerve by emitting electric currents and relieves temporary migraine pain. Many key researchers are focusing on manufacturing different drug combinations to increase the drug's success rate and reduce the side effects for long-term usage. There are also attempts to manufacture different dosages of drugs according to age groups due to increasing migraine cases among several ages.

The incidence of migraines is higher in women than in men. Therefore, the growing female population worldwide is a big plus to the global migraine drugs market expansion. In addition, factors such as increasing work pressure, high alcohol consumption, 'growing demand for quality drugs, lifestyle changes, and awareness among patients associated with the prevention and treatment of migraine further increase the demand levels for the global migraine drugs market. Furthermore, rising pharmaceutical R&D expenditures, increasing healthcare spending, and a high prevalence of migraines are expected to boost the growth rate of the global migraine drugs market during the forecast period.

The government has conducted several types of awareness programs in regions to reduce the severity of the headache and to release the details about the essential medication. Programs also help to reduce the cause of migraine by explaining the reasons which may cause a migraine. Furthermore, the growing investments from the market participants and others to develop more effective drugs favor the market’s growth rate. Additionally, lifestyle changes and rising stress levels among people are leading to a greater incidence of migraine, resulting in market growth.

MARKET RESTRAINTS:

Side effects associated with migraine drug usage are one of the major factors hampering the growth rate of the migraine drug market worldwide. The usage of side effects can give side effects such as nausea, paranesthesia, flushing, tingling, neck pain, chest tightness, dizziness, and coronary vasoconstriction. In addition, stringent rules and regulations by the government are also hindering the growth rate of the migraine drugs market. Also, drugs' harmful effects and the increasing precedence of other therapies restrain the growth during the forecast period. Furthermore, the need for proper medication for the patients by the healthcare providers due to lack of knowledge about the reason for the headache also restrains the migraine drugs market growth.

Impact of COVID-19 on the global migraine drugs market:

Migraine is one of the medical conditions of headache. Many COVID-19 patients who had recovered have reported feeling a headache-like migraine during the quarantine period. The sudden outbreak of COVID-19 has increased stress levels in a considerable amount of the world globally, thus reflected in the global increase of people suffering from migraines. As a result, the market for migraine drugs has seen a spike in demand since the beginning of the COVID-19 pandemic. Regions such as North America, Europe, and APAC registered significant growth in 2020. In addition, increased retail sales of triptans demanded by people with acute migraine conditions have accelerated the market to grow substantially. Analysts at Market Data Forecast have predicted that, with the support received from COVID-19, the global migraine drugs market will register new growth heights during the forecast period.

REPORT COVERAGE:

This research report on the global migraine drugs market has been segmented and sub-segmented based on treatment, therapeutic class, and region.

Migraine Drugs Market - By Treatment:

• Preventive
• Absorptive

Based on the treatment type, the preventive segment is predicted to lead the migraine drugs market, accounting for the leading share during the forecast period owing to the increasing awareness of the therapies. In addition, due to increasing awareness about migraine, most people are changing their life and food habits to include exercise in their daily schedule to prevent the migraine effect.

Migraine Drugs Market - By Therapeutic Class:

• Triptans
• Ergots
• Others

Based on the therapeutics, the triptans segment dominated the market in 2022 and is predicted to account for a considerable share in the global migraine drugs market during the forecast period owing to the growing expenditure on healthcare. In addition, Triptans is an FDA-approved drug that is safe if used in limited dosage.

Migraine Drugs Market - By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Geographically, the North American migraine drugs market is likely to play the leading role among all the regions in the worldwide market during the forecast period owing to the growing population suffering from headaches. The U.S. holds a significant share of the North American region. In the U.S., increasing manufacturing of various drugs for migraine drives the market forward. In 2021, AbbVie Inc approved oral medicine for preventive treatment for migraine in adults approved by the U.S. health regulators. Migraine is a type of neurobiological disorder affecting nearly 16% of the people in the United States. 1 in 4 American households suffers from migraine, which demands market growth in this Region. Migraine is the third most common disease in the world. Nearly 2.7 million Canadian people are suffering from migraine, according to recent studies. Migraine affects people for nearly 4-72 hours. As per a recent survey, it is found that half of Canadians suffered from Migraines during the Covid-19 pandemic.

The migraine drugs market in the Asia-Pacific region is predicted to have a high CAGR during the forecast period owing to the successful initiatives taken by the governments of Asia-Pacific countries to bring awareness towards migraines. In this Region, India and China are the countries that contribute to the migraine drugs market. People in China use traditional Chinese medicine for migraines. As a result, researchers in this region manufacture drugs with herbal ingredients, reducing the side effects of conventional migraine drugs. Increasing clinical trials for developing migraine drugs in Japan drive the market in this Region. The government has taken several measures for the approval of the migraine drug to increase the safety of the people in their Region.

The European migraine drugs market is anticipated to grow at a promising CAGR during the forecast period owing to the consistent growth in the number of people diagnosed with migraine. According to the information published by the European Migraine and Headache Alliance, approximately 41 million people in Europe have migraines. The growing R&D activities around migraine drugs are a major factor in regional market growth. Asia-Pacific to have substantial growth in the upcoming years. In Germany, headache disorders are seen in women and men due to restrictions on the quality of life. In Germany, most people suffer from tension-type headaches. It is estimated that nearly 10 million adults suffer from migraines in the United Kingdom.

The Latin American migraine drugs market is anticipated to hold a considerable share of the global market during the forecast period.

The migraine drugs market in MEA is expected to register a moderate CAGR in the global market during the coming years.

KEY MARKET PARTICIPANTS:

Companies playing a promising role in the global migraine drugs market profiled in this report are Allergan, GlaxoSmithKline, Pfizer, Endo, Impax Laboratories, Abbott, Aeriel BioPharma, Alder Biopharmaceuticals, Bayer, CoLucid, Eli Lilly, Johnson & Johnson, Kowa Pharmaceuticals America, Klaria, Luitpold Pharmaceuticals, AstraZeneca, Meda, Aegis Therapeutics, Merck, TG Therapeutics, NValeant, and Winston Pharmaceuticals.

RECENT MARKET DEVELOPMENTS:

• In 2022, Biohaven Pharmaceutical Holding Company Ltd. partnered with Pfizer Inc. and announced that the Phase 3 clinical trial of rimegepant has started in 1,431 adults for the acute treatment of migraine.
• In 2022, BioDelivery Sciences developed a liquid migraine medicine named Elyxyb (celecoxib oral solution), which the FDA approved for adult people.
• In 2020, Eli Lilly launched a new medicine called to treat migraines named Reyvow, which the FDA approved. It is the first drug to treat pain and the sensitivity of light, sound, and nausea.
• In 2020, New drugs were approved by the U.S. Food and Drug Administration to treat migraine in adults. This approval allows the ubrelvy to market, which Allergan USA, Inc manufactured.