ALBANY, New York/PRNewswire/ --
A report by Transparency Market Research finds that the global migraine drugs market would rise at a steady 3.5% CAGR during the forecast duration beginning in 2017 and ending in 2025. At this pace, the market which was worth US$2.72 bn in 2016 would likely attain a value of US$3.72 bn by 2025-end.
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Increasing Occurrence of Migraine, Particularly in Women, Drives Sales in Market
At the forefront of driving the global migraine drugs market is of course the rising cases of migraine. As per the WHO, migraine is widespread and afflicts around 14.7% people around the world. It also finds that the risk of the chronic condition is higher in women than in men because of the changes in their estrogen levels mainly during their menstruation periods. Besides, intake of drugs such as hormone replacement ones and contraceptives, which bring about hormonal fluctuations in women, is also a leading cause of migraines. All these are positively impacting the global migraine drugs market.
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Rising Awareness about Migraine Treatment Benefits Market
There are other factors too that are benefitting the global migraine drugs market. Those include the increasing knowledge about the treatment of migraine. Nonetheless, there are a few developing nations were awareness about migraine effects and treatment is limited, let alone knowledge about its drugs. To overcome such challenges, governments in these nations are often seen undertaking initiatives with public healthcare officials for better treatments.
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Based on treatment, the global migraine drugs market can be broadly classified into prophylactic treatment and abortive treatment. The abortive treatment can be further divided into ergot alkoids, triptans, etc. Similarly, the prophylactic treatment consists of topiramate, botulinum toxin, and others. Between the two, the abortive treatment segment, powered by sales of triptans, currently accounts for a greater share in the global migraine drugs market. With respect to geography, North America at present holds a leading share in the global migraine drugs market. It is projected to attain a value of US$2.13 bn by 2025-end. The migraine drugs market in the region is being led by the abortive treatment.
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Possibility of Side Effects and Easy Availability of Generics Negatively Impacting Market
The global migraine drugs market is somewhat being hampered by the possibility of side effects caused by excess consumption of migraine drugs. Further, generics flooding the market and easy availability of over the counter (OTC) painkillers in developing and underdeveloped nations is also negatively impacting the global migraine drugs market.
To deal with such issues, manufacturers of migraine drugs are seen taking extra caution to ensure the efficiency and safety of drugs. They are seen investing in research and development of improved drug varieties.
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The global migraine drugs market is consolidated owing to a few players having a solid stronghold over it. However, this has not served to reduce competition as nimble players are seen expending considerable amounts on research and development of better products to satisfy various unmet needs of the end users.
Some of the key participants in the global migraine drugs market are Pfizer, Inc., Eli Lilly & Co., Allergan Plc., GlaxoSmithKline plc, and Novartis AG.
The review is based on the findings of a TMR report, titled, "Migraine Drugs Market (Treatment - Abortive (Triptans and Ergot Alkoids) and Prophylactic (Botulinum Toxin and Topiramate); Route of Administration - Oral and Injectable; Distribution Channel - Retail Pharmacies and Hospital Pharmacies) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017-2025."
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