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The migraine drugs market in Latin America size is estimated to grow by USD 82.31 million between 2022 to 2026 accelerating at a CAGR of 5.82%.
This report extensively covers market segmentation by end-user (hospital, retail, and online), therapy (preventive treatment and abortive treatment), and geography (Mexico, Brazil, Argentina, Chile, and the Rest of Latin America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
In Latin America, migraine is linked to a considerable disease burden because of high resource use, high disability, and inadequate treatment practices. The prevalence of migraine is significantly growing in Latin America, which is propelling the demand for migraine drugs in Latin America. Brazil has the highest number of migraine patients, with a percentage of 17.4% and 7.8% in women and men, respectively. This is followed by Colombia, Ecuador, Venezuela, Mexico, and Argentina. In Brazil, migraine was found in 15.2% of the population in 2019. Similarly, in 2021, the prevalence of migraine in Mexico in women and men was 12.1% and 3.9%, respectively. Migraine was 2.2 times more prevalent in women in Brazil compared to men. In Latin America, where the number of women is growing, migraine is becoming more prevalent. To treat migraine vendors are coming up with drugs to get rid of the symptoms.
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The outbreak of COVID-19 led to a slowdown in the growth of the migraine drugs market in Mexico in the first half of 2020. The imposition of lockdown restrictions led to disruptions in the supply chain operations of migraine drugs in the country. This impeded the growth of the market. As pharmaceuticals are considered necessary items, supply chain disruptions had only short-term implications on the growth of the migraine drugs market in Mexico. However, the lifting of lockdown restrictions and the initiation of large-scale vaccination drives provided momentum to the growth of the market in the second half of 2020. Moreover, the increasing adoption of e-commerce channels, the redesigning of distribution channels, and the revival of supply chain operations will foster the growth of the migraine drugs market in Mexico during the forecast period.
Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Physical drug reformulation involves altering drug formulations or components. This strategy is commonly used by vendors to protect patent rights and strengthen their portfolios. New drug delivery systems like transdermal patches and orally disintegrating tablets improve patient adherence and bioavailability, enhancing drug efficacy. Additionally, reformulating drugs extends market exclusivity and combats generics. J and J's SPRAVATO, a nasal spray ketamine-based drug for treatment-resistant depression, is an example of successful drug reformulation. These developments are expected to drive growth in the Latin American marine drugs market.
The Latin American migraine drugs market is expected to grow with the introduction of new drugs like CGRP and monoclonal antibodies. CGRP is a 37-amino acid peptide found in various parts of the nervous system, and its elevated levels are associated with migraine episodes. Four monoclonal antibodies have been approved for migraine treatment in the past three years, with three already available in Brazil and one set to launch soon. These drugs target CGRP directly or its receptor and have been shown to decrease CGRP serum levels and provide relief from migraine symptoms. The growing approval of these drugs is expected to drive the growth of the migraine drugs market in Latin America.
Many people, especially youth, are unaware of migraine symptoms, leading to a lack of diagnosis and treatment. This can result in chronic migraine and undertreated diseases. Developing countries like Costa Rica and Uruguay face this challenge due to poor healthcare facilities, limited diagnostic services, and a shortage of trained personnel. High costs and low disposable incomes also prevent individuals from obtaining proper treatment. These factors negatively impact the demand for migraine drugs and hinder the growth of the migraine drugs market in Latin America.
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Abbvie- The company offers migraine drugs such as Qulipta.
The report also includes detailed analyses of the competitive landscape of the market and information about prominent and key market vendors, including:
Technavio’s report consists of a holistic analysis of the key development analysis, development stage, key market players, their marketing strategies, and powerful innovations to help any client gain a competitive edge.
Hospitals are an important end-user for the migraine drugs market in Latin America. Hospitals account for a significant share of the market in focus owing to a wider range of facilities and advanced infrastructure to cater to the different needs of patients. Private hospitals in Brazil offer superior medical facilities. In fact, Brazil is regarded as one of the top locations for medical tourism in Latin America. The rising healthcare expenditure in Latin America is further propelling the demand for the treatment of migraine in hospitals. For instance, according to The World Bank Group, in 2015, healthcare expenditure (% of GDP) was 7.87% which inclined to 7.96% in 2019.
The market share growth by the preventive treatment segment will be significant during the forecast period. The preventive treatment of migraines is aimed at reducing the attack frequency and the severity of migraine. If a migraine preventative medication reduces the number of days or migraine attacks by at least 50% in less than three months, it is deemed successful. The medications that have been shown to be most effective for preventing migraines are beta-blockers, divalproex sodium, and topiramate. Preventive drugs are taken regularly, often on a daily basis, to reduce the severity or frequency of migraine. Preventive medications help in increasing the effectiveness of the symptom-relieving medicines used during migraine attacks which are propelling the market growth.
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Migraine Drugs Market In Latin America Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2022 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.82% |
Market growth 2023-2027 |
USD 82.31 million |
Market structure |
Fragmented |
YoY growth (%) |
4.89 |
Regional analysis |
Latin America |
Performing market contribution |
Latin America at 100% |
Key consumer countries |
Mexico, Brazil, Argentina, Chile, and Rest of Latin America |
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
Key companies profiled |
AbbVie Inc., Amgen Inc., Amneal Pharmaceuticals Inc., Bausch Health Co. Inc., Bayer AG, Daiichi Sankyo Co. Ltd., Dr Reddys Laboratories Ltd., Eli Lilly and Co., Endo International Plc, Ethypharm SAS, GlaxoSmithKline Plc, H Lundbeck AS, IntelGenx Technologies Corp., Klaria Pharma Holding AB, Kowa Co. Ltd., OptiNose Inc., Pfizer Inc., Sanofi SA, Teva Pharmaceutical Industries Ltd., and UCB SA |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Therapy
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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