The Global Migraine Therapeutics Market is expected to grow, at a CAGR of 8.4% over the forecast period, 2018-2023. Migraine is a complex neurological condition, characterized by frequent headaches that can last between four and 72 hours. The pain is often unilateral and pulsating in nature, which can often be worsened by physical activity. In most cases, migraine is associated with symptoms such as photophobia, phonophobia, osmophobia, nausea, vomiting, loss of appetite, and sometimes sensory disturbances.
Migraine Therapeutics Market: Major Players
Allergan, Amirall, Astrazeneca, Colucid Pharmaceuticals, Glaxosmithkline, Merck, Neuraxon, Nupathe, Optinose, Pfizer, Redhill Biopharma, Revance Therapeutics, Suda, Teva, Vernalis And Zogenix, Amongst Others.
Increasing prevalence of migraines
Migraine is a neurological disorder which can show incapacitating neurological symptoms. Migraine has been considered as the 3rd most prevalent disorder and 6th most disabling illness worldwide (according to the migraine trust). Migraine affects 18% of women and 6% of men in US. Migraine is mostly common in ages of 25 to 55. More than 4 million adults experience chronic daily migraine and it is estimated that approximately 1 out of 4 U.S. households has at least 1 person with migraine.
Due to the high unmet needs the major pharmaceutical companies have initiated several R&D programs to launch new molecules and are trying to increase the market access of the generic formulations across the globe. Moreover, the growing awareness of migraine therapeutics and improvement in accurate diagnosis of the condition are expected to favor the market expansion over the next few years.
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Migraine Therapeutics Market: Lack of Proper Diagnosis and Undiagnosed Cases
About 37 million people in US suffer from migraine, however, the numbers can be much higher owing to the number of undiagnosed silent migraines. A silent migraine is a type of migraine that does not have headache as one of its characteristic symptoms. Symptoms for a silent migraine revolve around the type of a migraine that it is, as in case of vestibular migraine particularly affects the vestibular system which controls balance. Which results in the primary symptoms to be may be dizziness, vertigo, nausea, and vomiting. In this case there is a lack of a headache. These patients who bypass proper diagnosis would otherwise have been potential users of migraine therapeutics. This will lead to the slowdown of the growth of this market along with other factors such as adverse effects of drugs, increased preference for alternative therapies and generic penetration.
Migraine Therapeutics Market: Asia-Pacific to Emerge as the Fastest Growing Region
APAC is quickly emerging as the fastest-growing region in the migraine drugs market and is expected to grow at approximately a CAGR of about 6% during the forecast period. The primary reason for this region’s growth is the increasing the number of migraine cases and growing public awareness about the disease. India and China are the major markets in this region as the prevalence of migraine is high in these countries. The growing focus on new product launches and the high penetration of drug manufacturers will aid in the growth of the market in APAC during the forecast period.
Key Developments in the Market:
- March 2018 – A new type of medication for migraine headaches is currently being reviewed by the FDA, and if approved may provide safe, long-lasting relief for many by blocking the activation of a molecule involved in the pain process.
Reasons to Purchase Migraine Therapeutics Market Report
- Current and future migraine therapeutics market outlook in the developed and emerging markets
- Analysis of various perspectives of the market with the help of Porter’s five forces analysis
- The segment that is expected to dominate the market
- Regions that are expected to witness the fastest growth during the forecast period
- Identify the latest developments, market shares, and strategies employed by the major market players
- 3 months analyst support, along with the Market Estimate sheet (in Excel)
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