The global migraine market witnesses rising growth. The continual growth attributes to the increasing prevalence of the condition worldwide. The pain and symptoms associated with this debilitating and recurrent, chronic neurologic disease severely impact the quality of life of sufferers. Chronic migraine disorder can result in extruding pain and sleep-less nights, further leading to various health complications. The migraine market is a well-developed space with the availability of many novel medicines and therapies to treat symptoms of the condition.
Moreover, technological advancements transpired in medical science led by substantial investments foster the growth of the market excellently, bringing about innovative medical devices, therapeutics, and medicines. On the other hand, large unmet medical needs and drug resistance cases hamper market growth.
Also, high costs associated with the treatments are anticipated to impede market growth. Nevertheless, technological advancements transpired in health care would support the growth of the market, presenting more advanced and cost-effective treatments.
Global Migraine Market - Regional Analysis
North America heads the global Migraine market with the largest market share. Favorable reimbursement scenarios and high healthcare expenditures are key driving forces behind the regional market growth. Also, the wide uptake of new technologies in the treatment of migraines drives the growth of the market substantially. The US, heading with its well-developed Migraine treatment market, accounts for the largest share in the regional market.
Europe stands the second-leading position in the global Migraine market. The increasing prevalence of the condition drives market growth. Besides, the resurging economy acts as a tailwind to the regional market growth, availing many novel treatments and drugs. The European Migraine treatment market is expected to grow at a considerable CAGR.
The Asia Pacific Migraine market is estimated to emerge as the fastest-growing market from 2018 to 2023. China and India predominantly lead the APAC migraine market, heading with the vast population and the availability of cost-competitive therapeutics.
Moreover, the proliferating healthcare sector, coupled with large unmet needs in the region, would provide impetus to the regional market over the assessment period. Besides, Vietnam, Thailand, and Malaysia, among other Southeast Asian countries, are projected to contribute significantly to the regional market growth.
Industry/Innovation/ Related News:
In Feb 2020, Theranica expanded accessibility of Nerivio wearable device to US migraine patients, partnering with the Telemedicine Platform. This has helped to provide rapid consultation with a licensed physician, and home delivery of the novel FDA-authorized prescribed wearable device during the coronavirus crises.
May 21, 2020 ---- Cipla Ltd. (India), a leading multinational pharmaceutical & Biotechnology Company, announced receiving final approval from the USFDA for its Abbreviated New Drug Application (ANDA) for new nasal spray - Dihydroergotamine Mesylate, indicated for the treatment of migraine headaches. This is Cipla's first ANDA approval for a nasal spray, which is indicated in the treatment of acute attacks of migraine headaches with/without aura.
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