Migraine is a common condition found among people of all ages across the world. Primary causes of migraine can be triggers like food, environmental factors, and hormones, or genetics. As more number of people come forward reporting migraine, the demand for migraine drugs is will grow during the forecast period.
The global migraine drugs market has recorded phenomenal growth in the past few years and is expected to grow at a substantial rate in the coming years. A recently published Transparency Market Research report finds that the global migraine drugs market will grow at a stable rate during the forecast period. As a result, the market valued at US$2.72bn in 2016 will attain an overall value of US$3.72bn by the end of 2025.
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The steadily growing demand in the global migraine drugs market is accentuating growth for pharmaceutical industries. Many prominent players are looking at launching revised versions of their existing drugs and at the same time are aiming to introduce new drugs. Further, companies are also looking at merging with prominent regional brands in order to capture a larger section of the expanding global migraine drugs market.
As far as regions are concerned, North America is predicted to hold a prominent position in the global migraine drugs market. The well-established pharmaceutical industry is the prime reason for growth in this region. Moreover, people are well acquainted with the risks of migraine and the growing awareness about health promotes growth for migraine drugs here.
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Growing Risk from External Factors to Fuel Demand
As mentioned earlier, a large portion of patients suffering from migraine are bothered by external factors like environment, food, and physiological aspects. Pollution has become a pressing issues across the world. Harmful gases, dust, pollen, and other elements are considered significant triggers for migraine. As pollution levels hit a new high every year, the probabilities of more migraine cases will increase. Thus, the demand in the global migraine drugs market will shoot up in the coming years.
Further, research also proves that consumption of certain types of foods can also trigger migraine. With growing prevalence of fast food, especially among the youth, cases of migraine are expected to rise in the future. As a result, the need for products in the global migraine drugs market will grow. Moreover, physiological aspects like stress, fatigue, and hunger can also cause migraine among people. With rising work pressure in corporate sector, professionals are unable to take care of their health, thus becoming victims of migraine. This will also fuel demand in the global migraine drugs market.
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Increasing Investments in Research to Steer Growth
While there are numerous aspects augmenting demand in the global migraine drugs market, there are some challenges faced by existing products. Instances of side effects among patients is a matter of concern for pharmaceutical companies. In order to sustain in the global migraine drugs market, most companies are investing heavily into new research. The aim is to develop drugs with better efficiency and less side effects.
As positive results begin to surface hinting the efficiency of the new drugs, the potential for the global migraine drugs market will rise in the future.
The study presented here is based on a Transparency Market Research report titled “Migraine Drugs Market (Treatment - Abortive (Triptans and Ergot Alkoids) and Prophylactic (Botulinum Toxin and Topiramate); Route of Administration - Oral and Injectable; Distribution Channel - Retail Pharmacies and Hospital Pharmacies) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025.”
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