Currently, savvy companies operating in the global migraine drugs market are expending time and money into research and development of new and more effective drugs. This is because they have sensed an opportunity in the considerable unmet needs of patients in the absence of a complete cure and also because of the growing genericization of drugs. More players are expected to foray into the market to tap into the opportunities.
Some of the prominent participants in the global migraine drugs market are AstraZeneca Plc., Allergan Plc., Pfizer, Inc., Teva Pharmaceutical Industries Ltd., GlaxoSmithKline plc, Eli Lilly & Co. Novartis AG, Merck & Co., Inc., Valeant Pharmaceutical International, Inc., Janssen Pharmaceutical Company (Johnson & Johnson), Endo Pharmaceuticals Inc., Zosano Pharma Corporation, Alder BioPharmaceuticals Inc., Avanir Pharmaceuticals, Inc., and Eisai Co., Ltd.
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A research study by Transparency Market Research states that the global migraine drugs market was worth US$2.72 bn in 2016. The report forecasts the market to attain a value of US$3.72 bn by 2025 by registering a tepid CAGR of 3.5% from 2017 and 2025.
The global market for migraine drugs can be divided based on the types of treatments into abortive treatment and prophylactic treatment. The abortive treatment can be divided further into triptans, ergot alkoids, etc. The prophylactic treatment segment too can be segmented again into botulinum toxin, topiramate, etc. At present, the segment of abortive treatment, powered mainly by triptans, leads the market with a higher share.
Geography-wise, the main segments of the global migraine drugs market are North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among them, North America, at present holds a dominant share in the market because of the higher allocations on healthcare, growing instances of migraine, and availability of specialty migraine drugs. In the years ahead too, North America is predicted to hold on to its leading share. By 2025, it is expected to rake in a revenue of US$2.13 bn.
Rising Female Population Proves Beneficial to Market
Migraine is a common disease that afflicts almost 14.7% of the world population. As per the World Health Organization, its prevalence is estimated to be 12% among general population. It is found that females are 2 to 3 times more susceptible to the chronic condition. With the rise of the female population and the increase in overall population, particularly in developing nations, the global migraine drugs market will be boosted majorly in the next couple of years.
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Serving to hinder the market, on the other hand, is the easy availability of generics and over reliance on over the counter (OTC) pain killers and other drugs in emerging and under developed markets. The lead analyst of the TMR report observes, “Companies that manufacture and sell migraine drugs that exhibit a high safety and efficacy profile are expected to gain a competitive edge over their peers.”
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