Global Migraine Drugs Market: Snapshot
The global migraine drugs market has considerable room for growth in the absence of a permanent cure for the condition and growing genericization of drugs. Hence, established companies in the market are seen upping allocations on research and development to come up with better drugs to satisfy the unmet demands, and thereby grow their sales and revenues. In the upcoming years, the market is expected to see entry of aspiring players too. All these will help to increase competition.
Migraine is a common occurrence worldwide. Hence, with the increasing global population, particularly female population – who are more prone to have migraine, the market for the drugs will likely rise at a steady pace. Posing a challenge to the market, on the downside, 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.
As per a report by Transparency Market Research, the global migraine drugs market will likely expand at a lackluster CAGR of 3.5% during the period between 2017 and 2025 to become worth US$3.72 bn by 2025 from US$2.72 bn in 2016.
Triptans Make Abortive Treatment Segment Dominant
Depending upon the available treatments, the global market for migraine drugs can be divided into abortive treatment and prophylactic treatment. The abortive treatment can be further segmented into triptans, ergot alkoids, etc. The prophylactic treatment segment can be further divided into botulinum toxin, topiramate, etc. At present, the segment of abortive treatment leads the market with a higher share. The triptans are primarily powering the growth of the segment. The segment of prophylactic treatment is also expected to see steady growth in the next couple of years on the back of topiramate, which will likely rise at 3.4% CAGR in the forecast period. Increasing incidences of chronic migraine and rise in inclination towards prophylactic treatment of migraine is projected to fuel this growth.
Depending upon the route of administration, global migraine drugs market can again be classified into injectable, oral, and others including nasal sprays, transdermal patches, etc. Of them, oral route of administration accounts for a dominant share in the market because of their relatively cheaper price and easy availability of orally administrable drugs, namely triptans and topiramate.
Greater Healthcare Expenditure Propels North America Market to Fore
Geographically, North America currently runs the show in the global migraine drugs market. In future too, it is predicted to retain its leading share by rising at a CAGR of 3.4% from 2017 to 2025 to clock a revenue of US$2.13 bn by 2025-end. Factors pushing the market in the region to the fore are greater healthcare expenditure, rising occurrence of migraine, and availability of specialty migraine drugs. Europe trails North America in terms of market share and is forecasted to pull in a revenue to the tune of US$741.4 mn by 2025 by rising at a CAGR of 3.4% from 2017 to 2025.
Vis-à-vis growth rate, Asia Pacific is projected to surpass all other regions by registering a CAGR of 3.8% in the forecast period on the back of growing healthcare expenditure and shift of focus by key players in emerging markets in India and China.
Some of the prominent participants in the global migraine drugs market are AstraZeneca Plc., Allergan Plc., Pfizer, Inc., Teva Pharmaceutical Industries Ltd., GlaxoSmithKline plc, Eli Lilly & Co. Novartis AG, Merck & Co., Inc., Valeant Pharmaceutical International, Inc., Janssen Pharmaceutical Company (Johnson & Johnson), Endo Pharmaceuticals Inc., Zosano Pharma Corporation, Alder BioPharmaceuticals Inc., Avanir Pharmaceuticals, Inc., and Eisai Co., Ltd.
Global Migraine Drugs Market: Scope and Methodology
This report on the global migraine drugs market analyzes the current and future prospects of the market. The report comprises an elaborate executive summary, including a market snapshot that provides overall information of various segments and sub-segments.
The research is a combination of primary and secondary research. Primary research formed the bulk of our research efforts along with information collected from telephonic interviews and interactions via e-mails. Secondary research involved study of company websites, annual reports, press releases, stock analysis presentations, and various international and national databases. The report provides market size in terms of US$ Mn for each segment and sub-segment for the period from 2017 to 2025, considering the macro and micro environmental factors. Growth rates for each segment within the global migraine drugs market have been determined after a thorough analysis of past trends, demographics, future trends, technological developments, and regulatory requirements.
A detailed qualitative analysis of factors responsible for driving and restraining market growth and future opportunities has been provided in the market overview section. This section of the report also includes market attractiveness analysis that provides a thorough analysis of the overall competitive scenario in the global migraine drugs market.
Market revenue in terms of US$ Mn for the period between 2015 and 2025 along with the compound annual growth rate (CAGR %) from 2017 to 2025 are provided for all the segments, considering 2016 as the base year and 2015 as historic year. Market size estimations involved in-depth study of product features of different types of treatments & drug class and various pipeline products. Additionally, market related factors such as preference for self-medication, regional availability of specialty drugs, patent expiration of migraine drugs & availability of generic drugs, projected launch of new drugs etc. in various geographies and historical year-on-year growth have been taken into consideration while estimating the market size.
Migraine Drugs Market: Segmentation
Migraine is type of headache, estimated to affect 12 to 14.7% of population across the globe. According to international as well regional guidelines it is categorized by frequency and nature of attack into episodic migraine and chronic migraine. Abortive and prophylactic are the two treatments offered for migraine relief. Abortive treatment which is given to abort acute attack of migraine include medication such as triptans, ergot alkoids and others. While prophylactic treatment is recommended to patients with chronic migraine to prevent migraine attacks using medications such as botulinum toxin, topiramate and other drugs.
Based on treatment, the global migraine drugs market has been segmented into abortive and prophylactic. These treatments segments are further classified based on the drug class such as abortive treatment is classified into triptans, ergot alkoids, and others while prophylactic treatment is segmented into botulinum toxin, topiramate and others. Abortive treatment segment is projected to hold dominant share of global migraine drugs market while prophylactic treatment segment is likely to register steady growth during the forecast period from 2017 to 2025.
Based on route of administration, the global migraine drugs market is segmented into oral, injectable and others. Others segment of route of administration include nasal sprays, transdermal patches, etc. Low cost and vast availability of orally administrable drugs is projected to contribute for dominating share of oral segment of route of administration.
Based on the distribution channel, the global migraine drugs market is segmented into retail pharmacies, hospital pharmacies and others. Ever increasing number of retail pharmacies, self-medication with widely available OTC migraine abortive drugs is attributed for the significant share of the segment in the global market.
Migraine Drugs Market: Geographical and Competitive Dynamics
Geographically, the global migraine drugs market has been segmented into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In addition, the regions have been further segmented by major countries from each region.
The report also profiles major players in the migraine drugs market based on various attributes such as company overview, financial overview, SWOT analysis, key business strategies, product portfolio, and recent developments. Key companies profiled in the report include 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., and others.
The global migraine drugs market has been segmented as below:
Global Migraine Drugs Market, by Treatment
- Ergot Alkaloids
- Botulinum Toxin
Global Migraine Drugs Market, by Route of Administration
- Others (Nasal Spray, Transdermal Patch, etc.)
Global Migraine Drugs Market, by Distribution Channel
- Retail Pharmacies
- Hospital Pharmacies
- Others (Online Pharmacies, Drug Stores, etc.)
Global Migraine Drugs Market, by Geography
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa