Migraine Drugs Market is poised to grow at a CAGR of over 2.8% during the forecast period of (2020-2030)
High prevalence rate along with growing awareness linked with proper management followed by the robust product pipeline are expected to drive the growth of Migraine Drugs industry during the forecast period of 2020-2030.
The Migraine Drugs Market is expected to grow at the CAGR of 2.8% from 2020-2030, according to a new research report by Next Move Strategy Consulting.
Migraine is a neurological disorder associated with high intensity headache along with other symptoms such as sensitivity to smell, nausea & others. Migraine attacks can last long for hours or days which can be controlled with proper medication followed by some lifestyle changes. The migraine attack starts with warning such as visual disturbance, tingling sensation & others and can travel from one of the head to other which also hampers the daily activities in day-too-day life.
According to the report, high prevalence rate of migraine along with the growing awareness among people is one of the major factors driving the market growth. It has also proved that female population is more prone to migraine as compared to males. There has been growth in female population along with the further growth in awareness with regards to the treatment options & prevention is also expected to enhance the market growth. The huge product pipeline for migraine drugs are also expected to flourish the migraine drugs market. On the other hand, Introduction of novel technology for the treatment of migraine is anticipated to change the market trends to further promote the market growth.
However, various side effects associated with the migraine drugs can restrain the market growth. Moreover, growth in research & development activities along with high investment as well as untapped opportunities from the developing economies is anticipated to provide numerous opportunities to the market in the coming few years.
On the basis of types, the migraine drugs market share is segmented into abortive medicine and preventive medicine. Abortive medicines dominate the global migraine drugs market in terms of market share and will be the dominant during the forecasted period.
On the basis of administration route, the migraine drugs market is categorised into oral, injection, and others. Oral form of drugs are easy to take & widely used as per the prescription. Oral administration holds the major market share and maintains its dominance over the forecast period.
Based on distribution channel, the market is categorized into hospital-based pharmacies, retail pharmacies, and online pharmacies. Due to changing trends & changing lifestyle of large population, online pharmacies are likely to grow with significant CAGR over the period of time.
North America is likely to account for the highest market size & share of the migraine drugs market in the forecast period 2020–2030 owing to the huge demand for the migraine drugs, along with high prevalence rate as well as growing awareness among people with respect to the management of migraine. Europe accounts for the second leading position in the migraine drugs market size. Asia Pacific is expected to be the fastest developing region in the migraine drugs market which is majorly driven by the presence of large female population along with growing awareness. In addition, growing healthcare expenditure as well as high unmet needs of large population is further expected to drive the market growth.
According to the report, some the key players in the migraine drugs market are Allergan Plc., AstraZeneca, GlaxoSmithKline Plc., Impax Laboratories, Abbott Laboratories, Eisai Co., Ltd., Johnson & Johnson, Merck & Co., Endo International Plc, and Pfizer Inc.
Browse key industry insights from the report at https://www.nextmsc.com/report/migraine-drugs-market in detail along with the table of contents:
Key Insights from the Migraine Drugs Market Report:
- Asia Pacific is the fastest growing Migraine Drugs market owing to the rising healthcare expenditure along with growing awareness among people followed by high prevalence rate of migraine.
- The online pharmacies dominate the segment and are expected to grow at significant CAGR to maintain the led in 2030.
- Some of the major players in the market are Allergan Plc., AstraZeneca, GlaxoSmithKline Plc., Impax Laboratories, Abbott Laboratories, Eisai Co., Ltd., Johnson & Johnson, Merck & Co., Endo International Plc, and Pfizer Inc.
The report Migraine Drugs market – segmented by type, administration route, distribution channel and geography
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