Acute Migraine Treatment Market Predicted to Reach USD 7 billion by 2031, Recording Over a 15% CAGR Says, Transparency Market Research
There are several drugs and therapies available for treating acute migraines, which is a rapidly expanding market. These include both prescription pharmaceuticals like triptans, ergotamines, as well as opioids as well as over-the-counter (OTC) painkillers like acetaminophen and nonsteroidal anti-inflammatory drugs (NSAIDs).
Wilmington, Delaware, United States, Aug. 18, 2023 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – The global market for acute migraine treatment was estimated to be worth a market valuation of around US$ 2.1 billion in 2021. The market is anticipated to advance with a booming 15.1% CAGR from 2023 to 2031 and by 2031, the market is likely to gain US$ 7.9 billion.
The demand for treatments that might lessen the symptoms of a migraine attack is being driven by a rise in understanding about the impact of migraine on overall quality of life. A more apparent knowledge of the effects of migraine on everyday life and a realization of the need for appropriate treatment choices might result from increased public awareness of migraine, which could potentially affect social attitudes about the illness.
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Global Acute Migraine Treatment Market: Key Players
With a high number of participants, the worldwide acute migraine therapy market is fragmented. Companies are making large investments in research and development endeavors, especially to create cutting-edge products. The two main techniques used by the major market participants are product portfolio expansion and mergers and acquisitions.
The leading companies in the industry are Teva Pharmaceutical, Hoffmann-La Roche Ltd., Johnson & Johnson, Amgen, AstraZeneca, Pfizer, Inc., Merck & Co., Novartis AG, Allergan plc, BioDelivery Sciences International, Inc., AbbVie, and Eli Lilly and Company.
Some developments by the key players in the global market for acute migraine treatment are:
- BioDelivery Sciences International, Inc. announced the commercial release and availability of the drug, ELYXYBTM (celecoxib oral solution) within the United States for 2022. The only FDA-approved ready-to-use oral medication for treating acute migraine in adults, with or without aura, is ELYXYBTM.
- The FDA authorized QULIPTA (atogepant) in 2021, according to a statement released by AbbVie, for the treatment of episodic migraine in adults. The CGRP receptor antagonist (atogepant) QULIPTA is the first and only oral medication made exclusively to prevent migraines.
The pharmaceutical industry’s increased emphasis on research and development has resulted in the creation of new and better migraine therapies, such as abortive therapy and symptomatic medication. Significant opportunities are being created for the sector by the introduction of efficient and affordable migraine therapies. Manufacturers are spending a lot of money on research and development to create cutting-edge migraine treatments and drugs.
Key Findings of Market Report
- The CGRP antagonist market category is anticipated to hold the majority of global market share throughout the projection period based on medication type.
- The oral segment is estimated to account for a sizeable portion of the market for acute migraine treatments globally during the forecast period.
- Around 40.0% of the market share was acquired by North America in 2021.
Market Trends For Acute Migraine Treatment
- During the projected period, the oral sector is expected to account for a sizeable portion of the market for acute migraine treatments worldwide. Oral medicines are frequently used as the first line of therapy for migraines since they are typically seen as handy and simple to use. To assist lessen the frequency and intensity of migraines, various treatment options, like lifestyle changes and preventative drugs, may be suggested in addition to medication.
- During the projection period, the CGRP antagonist market segment is anticipated to have the biggest worldwide market share. A CGRP antagonist acts by inhibiting the activity of CGRP, a molecule that plays a role in migraine development. CGRP antagonists are being researched as a potential preventative therapy for the illness and are useful for the management of acute migraine.
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Global Acute Migraine Treatment Regional Market Outlook
Various reasons are propelling the growth of the acute migraine treatment market in different regions. The are:
- In 2021, North America accounted for a prominent share of the global market. During the projection period, the area is anticipated to have significant market growth. The rise in migraine incidence in the area can be linked to North America’s hegemonic position in the world.
- The United States has dominated market growth in North America due to reasons including the existence of international competitors and an increase in research and development efforts for migraine treatments.
- Asia Pacific is anticipated to see a rapid growth throughout the projection period, according to market trends for acute migraine treatments. It is predicted that the market in the area would grow at a rapid CAGR between 2022 and 2031 due to population growth.
Global Acute Migraine Treatment Market Segmentation
- Drug Type
- CGRP Antagonist
- NSAID Drugs
- Beta-adrenergic Blockers
- Ergot Alkaloids
- Route of Administration
- Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- North America
- Asia Pacific
- Middle East & Africa
- South America
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