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Migraine Drugs Market to Touch US$3.72 Billion by 2025, Says TMR
ALBANY, New York, April 4, 2019 /PRNewswire/ -- According to a new TMR research report, the global migraine drugs market was valued at US$2.72 bn in 2016. It is expected to reach US$3.72 bn by 2025 end. The global migraine drugs will likely rise at a slow but steady CAGR of 3.50% during 2017-2025. Main methods for route of administration for migraine drugs include nasal spray, transdermal, oral, and injectable. Among these oral intake methods are expected to generate the highest demand in the migraine drugs market, thanks to low costs and convenience associated. Additionally, easy availability of these drugs in North America is expected to generate the highest revenue share in the global migraine drugs market.
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High Pressure Lifestyle Drives Growth
Migraine is often caused due to emotions triggers such as depression, stress, excitement, anxiety, and shock. Additionally, changes in hormone levels also leads to migraine among females. Over half of migraines in women often come during periods of menstruation. Due to growing awareness about mental health, cases such as depression, stress, among others are on the rise. Social factors such as increased financial burdens, breakup of family-oriented supporting structures, and worsening environmental conditions are expected to result in more stress for individuals. Additionally, FDA has approved new drugs for the treatment of migraine, which are effective as preventive medicines as well. The growing demand for cure for stress-related cures, growing awareness about mental health, and innovative drugs are expected to drive significant growth for the migraine drugs market in the near future.
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North America Region Emerges as a Key Opportunity
Region wise, the global migraine drugs market is divided into North America, Latin America, Asia Pacific, Europe, Middle East and Africa. Among these, North America is expected to emerge as a key opportunity in the global migraine drugs market. Rising demand for migraine drugs, establishment of major players in the region, and growing emphasis on healthcare are expected to drive significant growth for the market during the forecast period. The region is also witnessing rising awareness about mental health in most parts and cost-effectiveness of medical procedures. Increasing use of cost-effective preventive medicine can boost the growth of the global migraine drugs during the forecast period. North America is expected to grow at a steady 3.4% CAGR during 2017-2025. Migraine drugs market presents a bright horizon for innovations in the near future.
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The global migraine drugs market depicts a competitive and consolidated landscape. According to Transparency Market Research (TMR), main players in market like hold a significant share of the total revenues. Some key players in the migraine drugs market are GlaxoSmithKline, Novartis AG, Avanir Pharmaceuticals, and Allergan.
Migraine continues to pose a challenge for pharmaceutical companies and patients alike. Recent data points towards it as an evolving and chronic disease. Hence, preventive medicine presents a significant opportunities for all players in the migraine drugs market. Migraine drugs market consists of products such as carisbamate, which is known to be effective for epilepsy but has not enjoyed a lot of success as a preventive migraine medication. Major players in the migraine drugs market are expected to find lucrative opportunities with global expansion through innovations and collaborations.
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The study presented here is based on a Transparency Market Research 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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