The Global Acute Migraine Drugs Market is expected to grow at a CAGR of 4.2% during the forecast period of 2020 to 2027. The market is driven by the growing prevalence of migraine, rising awareness about migraine and its treatments, and increasing investments in research and development activities.
The global acute migraine drugs market is segmented into drug class, route of administration, distribution channel, and region. Based on drug class, the market is divided into triptans, analgesics, antiemetics, and others. Triptans held the largest share in the market, due to the availability of various drugs in this class and the effectiveness of these drugs in providing relief from migraine.
Based on route of administration, the market is divided into oral, intranasal, and injectable. Oral route of administration held the largest share in the market, due to the ease of administration and availability of various drugs in this route.
Based on distribution channel, the market is divided into hospital pharmacies, retail pharmacies, and online pharmacies. Hospital pharmacies held the largest share in the market, due to the availability of specialized drugs in this channel.
Region-wise, the market is divided into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. North America held the largest share in the market, due to the presence of well-developed healthcare infrastructure and increasing prevalence of migraine.
The key players operating in the global acute migraine drugs market are GlaxoSmithKline plc, Novartis AG, Pfizer Inc., Allergan plc, Merck & Co. Inc., Eli Lilly and Company, Teva Pharmaceutical Industries Ltd., Dr. Reddy’s Laboratories Ltd., Impax Laboratories Inc., and Amgen Inc.
The market is driven by the growing prevalence of migraine, rising awareness about migraine and its treatments, and increasing investments in research and development activities. In addition, the increasing demand for novel drugs and the rising adoption of biosimilars are expected to drive the growth of the market. However, the high cost of migraine drugs and the availability of generic drugs are expected to hamper the growth of the market.
The growing prevalence of migraine is expected to drive the growth of the market. Migraine is a neurological disorder characterized by recurrent headaches. The prevalence of migraine is increasing due to the changing lifestyle and increasing stress levels. According to the World Health Organization, it is estimated that migraine affects around 10% of the global population.
The rising awareness about migraine and its treatments is expected to drive the growth of the market. Patients are becoming more aware of the symptoms of migraine and the available treatments. This is expected to increase the demand for migraine drugs, thereby driving the growth of the market.
The increasing investments in research and development activities is expected to drive the growth of the market. Various companies are investing heavily in research and development activities in order to develop novel drugs for the treatment of migraine. This is expected to increase the availability of new drugs in the market, thereby driving the growth of the market.
The increasing demand for novel drugs is expected to drive the growth of the market. Patients are increasingly demanding novel drugs for the treatment of migraine, as these drugs provide better relief from migraine symptoms. This is expected to drive the growth of the market.
The rising adoption of biosimilars is expected to drive the growth of the market. Biosimilars are biologic drugs that are similar to the original biologic drug in terms of safety, efficacy, and potency. The increasing adoption of biosimilars is expected to drive the growth of the market.
However, the high cost of migraine drugs is expected to hamper the growth of the market. Migraine drugs are expensive and are not easily affordable by all patients. This is expected to restrain the growth of the market.
In addition, the availability of generic drugs is expected to hamper the growth of the market. Generic drugs are cheaper than branded drugs and are easily available in the market. This is expected to restrain the growth of the market.
The key players operating in the global acute migraine drugs market are GlaxoSmithKline plc, Novartis AG, Pfizer Inc., Allergan plc, Merck & Co. Inc., Eli Lilly and Company, Teva Pharmaceutical Industries Ltd., Dr. Reddy’s Laboratories Ltd., Impax Laboratories Inc., and Amgen Inc. These companies are focusing on the development of novel drugs for the treatment of migraine. They are also involved in strategic collaborations and partnerships in order to increase their market share.