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The Latin America Migraine Drugs Market size is forecast to increase by USD 80 million, at a CAGR of 5.4% between 2023 and 2028. The market is experiencing significant growth due to the increasing prevalence of migraine in the region. The market is further increased by the introduction of new classes of drugs with higher clinical efficacy, such as Calcitonin Gene-Related Peptide (CGRP) antagonists and monoclonal antibodies. However, concerns related to the side effects of migraine drugs, including medication overuse, headache, and cardiovascular risks, pose a challenge to market growth. Additionally, the affordability of these drugs remains a significant barrier to access for many patients in the region. Overall, the market trends indicate a shift towards more effective and safer treatment options, while addressing the affordability and accessibility challenges is crucial for market expansion.
Migraine, a debilitating condition characterized by recurring headaches, affects millions of people in Latin America. Headache awareness initiatives have led to an increase in the diagnosis and treatment of migraines. Fremanezumab (Ajovy), Erenumab (Aimovig), and Galcanezumab (Emgality) are monoclonal antibodies, part of the gepants class, approved for migraine prevention. New entrants like Rimegepant (Nurtec), Atogepant (Qulipta), and Zavegepant are calcitonin gene-related peptide (CGRP) receptor antagonists, also used for acute treatment. Triptans, ditans, and hormonal medications are other common migraine treatments. Companies like have a pipeline of products for migraine treatment. The World Health Organization recognizes migraines as a disabling condition. The smart healthcare industry continues to innovate, with the development of new drugs and treatments for both men and women.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million " for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The hospitals segment is estimated to witness significant growth during the forecast period. Migraine is a common neurological disease characterized by recurring headaches that can cause significant disability for affected individuals. According to the World Health Organization, the prevalence of migraine in Latin America is high, particularly among women and men. The market in the region is witnessing growth due to increasing headache awareness and the availability of new treatment options. Major companies are leading the way with innovative solutions. Their drugs, Fremanezumab and Erenumab, are monoclonal antibodies that target calcitonin gene-related peptide (CGRP) and CGRP receptors, respectively. These drugs have shown clinical efficacy in preventing migraines and reducing their frequency and severity.
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The hospitals segment was the largest and was valued at USD 91.00 million in 2018. Treatment awareness programs are also playing a crucial role in driving the market. These programs aim to increase public awareness about migraine and its symptoms, as well as the availability of effective treatments. Drug reformulations, such as injectable triptans, ditans, and gepants, are also gaining popularity due to their improved efficacy and convenience. Hormonal medications, neurotoxins, and molecule antagonists are other classes of drugs used to treat migraines. Hospitals, particularly private hospitals in countries like Brazil, are important end-users of these drugs due to their advanced infrastructure and comprehensive medical services. The pipeline of products is large, with several new drugs in various stages of development. The healthcare industry in Latin America is expected to continue investing in research and development to improve the lives of those affected by migraine.
Our researchers analyzed the data with 2023 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.
The increasing prevalence of migraine in Latin America is notably driving market growth. Migraine is a prevalent neurovascular condition in Latin America, affecting a significant portion of the population, particularly women. According to the World Health Organization, migraine ranks among the leading causes of disability worldwide. The disease burden is high due to the high resource utilization and disability associated with migraine. The prevalence of migraine in Latin America is increasing, fueling the demand for effective treatments. Brazil has the highest number of migraine patients, with approximately 17.4% and 7.8% of women and men, respectively, affected. In Brazil, the prevalence of migraine was reported to be 15.2% in 2019.
Similarly, in Mexico, the prevalence was 12.1% and 3% in women and men, respectively, in 2021. The pipeline of migraine drugs includes various classes such as triptans, ditans, gepants, hormonal medications, monoclonal antibodies, and neurotoxin antagonists. Companies are developing new drugs, such as Fremanezumab and Erenumab, which have shown clinical efficacy in preventing migraines. Treatment awareness programs and drug reformulations are also contributing to the growth of the migraine market. Thus, such factors are driving the growth of the market during the forecast period.
Introduction of new classes of drugs with higher clinical efficacy is the key trend in the market. Migraine, a debilitating neurological disease characterized by recurring headaches, affects an estimated 36 million people in Latin America, with women being more prevalent than men. The high prevalence of this condition necessitates increased awareness and effective treatment options. New classes of drugs, such as calcitonin gene-related peptide (CGRP) antagonists, monoclonal antibodies, and other novel molecules, are gaining significance in the market due to their higher clinical efficacy.
CGRP, a 37-amino acid peptide, is abundantly found in the brain and peripheral nervous system, and its receptor, a G-protein coupled receptor, plays a crucial role in pain transmission during a migraine attack. The World Health Organization recognizes migraine as a leading cause of disability, and the pipeline of products in the healthcare industry, including neurotoxins and hormonal medications like triptans, ditans, and gepants, offers potential solutions for those suffering from this condition. Thus, such trends will shape the growth of the market during the forecast period.
Concerns related to side effects of migraine drugs is the major challenge that affects the growth of the market. Migraine is a prevalent neurovascular condition affecting an estimated 36 million people in Latin America, with women and men equally affected. Headache awareness campaigns are crucial to increase treatment utilization, as many individuals with migraine underutilize or remain undiagnosed. Fremanezumab and Erenumab, two monoclonal antibodies which have shown clinical efficacy in preventing migraine attacks. These drugs target calcitonin gene-related peptide (CGRP) and its receptors, providing an alternative to traditional triptans, ditans, and gepants. Despite the pipeline of new products, the market faces challenges due to the side effects of existing treatments. Triptans, commonly used for acute migraine treatment, can cause drowsiness, weight gain, insomnia, muscle weakness, chest pressure, warm sensations, and agitation.
Hormonal medications and some beta-blockers, used for preventive treatment, can lead to side effects such as depression, fatigue, nausea, insomnia, and low blood pressure. The use of neurotoxins and molecule antagonists, such as ergot derivatives and calcitonin gene-related peptide receptor antagonists, can alleviate migraine symptoms, but their side effects limit their widespread use. Thus, the need for safer and more effective migraine drugs remains a priority in Latin America's healthcare sector. Hence, the above factors will impede the growth of the market during the forecast period
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies 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 Inc. - The company offers migraine drugs such as Qulipta.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Migraine is a common neurological disease characterized by recurring headaches, often accompanied by sensitivity to light, sound, and smell. The prevalence of migraine in Latin America is significant, particularly among women and men. Headache awareness programs are essential to increase understanding and access to effective treatments. Fremanezumab and Erenumab, two monoclonal antibodies developed have shown clinical efficacy in preventing migraines. These injectable drugs target calcitonin gene-related peptide (CGRP) molecules, which play a role in migraine pain. Triptans, ditans, and gepants are other types of drugs used to treat migraines.
Neurotoxins and molecule antagonists are also under development as potential migraine treatments. The World Health Organization recognizes migraine as a disabling condition, impacting personal and professional life. Healthcare providers and organizations are focusing on treatment awareness programs and drug reformulations to improve patient care. The pipeline of products in development offers hope for those suffering from this debilitating condition. In addition, the market is witnessing growth due to the increasing prevalence of migraine, awareness programs, and the development of new treatments, including injectable drugs like Fremanezumab and Erenumab.
Market Scope |
|
Report Coverage |
Details |
Page number |
163 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.4% |
Market growth 2024-2028 |
USD 80 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.1 |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AbbVie Inc., Amgen Inc., Amneal Pharmaceuticals Inc., Bausch Health Companies 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 market forecast period |
Customization purview |
If our market 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 Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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