According to a thorough analysis published in Future Market Insights Inc., the Global Acute Migraine Treatment Industry is expected to reach a significant worth of US$ 8.6 billion by 2032, marking an incredible leap in growth. From 2022 to 2032, the sector is expected to grow at a strong 4.9% Compound Annual Growth Rate (CAGR), indicating hitherto unheard-of levels of development.
By the end of 2022, the market is predicted to have grown to a value of US$ 2.4 billion, continuing its impressive trend. However, due to growing knowledge of new treatments specifically targeted at treating migraines, the scene is about to change.
A pivotal factor propelling this transformative journey is the surge in clinical trials dedicated to acute migraine treatment. Presently, the industry boasts more than hundreds of ongoing clinical trials, with a significant [specific number] trials in the pivotal phase 4. This surge in trials presents a monumental opportunity for the acute migraine treatment sector, creating a pathway for rapid growth in the forecast period.
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Global Acute Migraine Treatment Industry Dynamics
The rising number of population and the growing prevalence of migraine is expected to drive the market of acute migraine treatment in the forecast period. An increasing female population as the disease is more prevalent in females further accelerates the growth of the acute migraine treatment industry. Growing healthcare expenditure, rising adoption of unhealthy lifestyles, and growing awareness regarding acute migraine and its treatment further spur the market of acute migraine treatment globally.
However, stringent regulation for drug approval, high cost of treatment, adverse side effects, lack of proper diagnosis, and growing preference for alternative time therapies are some of the facthinderingnder the growth of the acute migraine treatment industry
Global Acute Migraine Treatment Industry Overview
The emergence of new drugs and therapies for acute migraine treatment is expected to account for the significant growth of acute migraine treatment in the forecast The development of new drugs such as CGRP antagoprovides provides huge potential for the Global Acute Migraine Treatment Industry to grow. The development of new drugs by key pharmaceutical players such as Amgen, Novartis, Eli Lily, and Company and increasing research and development funding will create a huge opportunity for the market to grow shortly. For instance, in 2017, Eli Lilly and Company’s drug for acute migraine treatment succeeded in a key late-stage study, setting the stage for regulatory approval in the US
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Acute Migraine Treatment: Region-wise Out
North America is expected to contribute to a major share of the global acute migraine treatment, duthe e to the growing prevalence of acute migraine along with the increasing funding for the development of drugs with the presence of major pharmaceutical industries. According to the Migraine Research Foundation, 39 million of the US population suffer from migraine and 1 billion population worldwide. 18% of women, 6% of men, and 10% of children suffer from migraines. In 2015, the medical cost of treating migraine was more than $5.4 billion, although migraine patients spent over $41 billion on treating the entire range of migraine.
Europe accounts for the second largest market share and registers significant growth in the global acute-migraine treatment market, due to the increasing demand for effective treatment for acute migraine and the adoption of new therapies along with favorable reimbursement scenarios. Asia Pacific market is primarily driven by factors such as increasing expenditure on healthcare systems, improvement in the healthcare infrastructure, and growing awareness of disease. China is expected to register significant growth in the acute-migraine treatment market, due to the growing population, low cost of drugs and treatment, and availability of drugs for acute migraine treatment. Due to a lack of developed healthcare facilities, Latin America and the Middle East & Africa are projected to show sluggish growth in the Global Acute Migraine Treatment Industry.
Global Acute Migraine Treatment Industry: Key Players
Some of the key players present in the Global Acute Migraine Treatment Industry are Amgen, Pfizer Inc., Hoffmann-La Roche Ltd, Eli Lily and Company, Novartis AG, Johnson and Johnson, Merck & Co., AstraZeneca and Teva Pharmaceutical among others.
Global Acute Migraine Treatment Industry: Segmentation
The Global Acute Migraine Treatment Industry is segmented based on drug type, distribution channel, and geography.
Segmentation by Drug Type
- Nonsteroidal Anti-inflammatory Drugs (NSAIDs)
- Triptans
- Dihydroergotamine
- Nonspecific Migraine Medications
- Analgesics
Segmentation by Distribution Channel
- Hospitals Pharmacies
- Retail Pharmacies
- Drug Stores
- E-Commerce
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Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges clients face and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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