GLOBAL MIGRAINE DRUG MARKET SIZE (2023 - 2030)
As per our research report, the global Migraine Drug Market size is estimated to be growing at a CAGR of 15.6% from 2023 to 2030.
The COVID-19 pandemic has had a major effect on the world's healthcare sector, especially the market for migraine medications. Drug shortages and delivery delays are a result of the pandemic's disruption of pharmaceutical supply networks and manufacturing. In addition, treating COVID-19 patients and controlling the pandemic have taken precedence over other healthcare objectives as a result of the epidemic. Patients delaying or avoiding seeking medical attention for problems unrelated to COVID has reduced the market for migraine medications. The pandemic has also resulted in a decrease in medical visits and procedures, such as imaging and diagnostic testing, which are crucial for the identification and management of migraines. Contrarily, the epidemic has also prompted a rise in distant medical services, such as telemedicine, which has facilitated the provision of healthcare to migraine patients. The trend toward remote medical care has also boosted patient knowledge and understanding of migraines, their causes, and how to treat them. The pandemic has had a complex effect on the migraine medicine industry, causing both supply chain interruptions and drug demand fluctuations as well as a rise in the use of remote medical services. The duration and intensity of the pandemic, the rate of the economy's recovery, and the creation of potent COVID-19 vaccines and treatments will all play a role in how the pandemic will ultimately affect the market for migraine medications.
In adults without a history of any other medical conditions, there are a number of drug solutions for treating and preventing migraines, but they come with serious side effects as well, including weight fluctuations, nausea, and dizziness. Sumatriptan is the safest therapeutic option for pregnant women, and anticonvulsant medications are not advised. The U.S. Food and Drug Administration's approval of a new class of medications created specifically to treat migraines, however, has had a favorable impact on the market. Ajovy, Emgality, and Aimovig (Erenumab) are the newest medications to receive FDA approval. Eli Lilly and Company gained FDA approval for Emgality (galcanezumab-gnlm), a 120 mg injection for the treatment of adult migraines before they occur, in September 2020.
Additionally, the market for migraine drugs is being driven by improved awareness campaigns, the availability of research funding from both public and commercial organizations, an improvement in the reimbursement environment for related treatments, and growing knowledge of the efficacy of such drugs.
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