Migraine Drugs Market Analysis Latin America - Size and Forecast 2024-2028

Latin America Migraine Drugs Market Size 2024-2028

The Latin America migraine drugs market size is forecast to increase by USD 80 mn million at a CAGR of 5.4% between 2023 and 2028.

• The market is experiencing significant growth due to several key factors. The increasing prevalence of migraine In the region is a major driver, with an estimated 36 million people suffering from this condition. Another growth factor is the introduction of new classes of drugs with higher clinical efficacy, which are gaining popularity among healthcare professionals and patients. The use of digital health technologies, such as telemedicine and mobile applications, is expected to further expand the reach of migraine treatments In the region. However, concerns related to the side effects of migraine drugs remain a challenge, as some medications can cause serious adverse reactions. These factors, among others, are shaping the market dynamics and providing opportunities for market participants. The market trends and analysis report offers an in-depth examination of these and other influencing factors, enabling stakeholders to make informed decisions and capitalize on emerging opportunities.

What will be the size of the Latin America Migraine Drugs Market during the forecast period?

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• The market is experiencing significant growth due to increasing headache awareness and the introduction of novel preventive treatments. New classes of migraine medications, such as calcitonin gene-related peptide (CGRP) antagonists, including fremanezumab, erenumab, and galcanezumab, are gaining popularity. These drugs offer preventive benefits, addressing the underlying causes of migraines. Additionally, oral CGRP receptor antagonists, like rimegepant and atogepant, and ditans, such as Nurtec ODT and Qulipta, provide new options for patients seeking effective, non-injectable treatments. Triptans, hormonal medications, and gepants continue to be commonly used. The World Health Organization recognizes migraine as a leading cause of disability, driving demand for innovative treatments.
• Companies are actively expanding their pipelines to meet this growing need. WebMD reports that both men and women suffer from migraines, with women experiencing them more frequently. The Latin American market is poised for continued growth as these new treatments become more accessible to patients. The market is witnessing growth as new treatments focus on targeting specific proteins and amino acids involved in migraine pathways, offering more effective relief options for sufferers.

How is this market segmented and which is the largest segment?

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.

• End-user
  • Hospitals
  • Retail
  • Online
• Therapy
  • Preventive treatment
  • Abortive treatment
• Geography
  • Latin America

By End-user Insights

• The hospitals segment is estimated to witness significant growth during the forecast period.

The market is primarily driven by the demand from hospitals, which represent a substantial market share. Brazil, in particular, is a significant contributor due to its advanced medical facilities and reputation as a medical tourism destination. Hospital groups and specialized healthcare providers play a crucial role In the market, benefiting from their extensive inpatient and outpatient services. The prevalence of migraine, a debilitating neurological disease, is high among both women and men in Latin America, necessitating effective treatment options. Migraine awareness programs and initiatives by organizations such as the World Health Organization are increasing, leading to a growing need for clinical efficacious drugs.

The pipeline of products includes molecule antagonists, monoclonal antibodies, and injectable drugs like Fremanezumab and Erenumab. The market also encompasses triptans, ditans, gepants, and hormonal medications.

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The Hospitals segment was valued at USD 91.00 million in 2018 and showed a gradual increase during the forecast period.

Market Dynamics

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.

What are the key market drivers leading to the rise in adoption of Latin America Migraine Drugs Market?

The increasing prevalence of migraine in Latin America is the key driver of the market.

• In Latin America, the prevalence of migraine continues to rise, leading to a significant disease burden due to high resource utilization and disability. According to the World Health Organization, migraine affects approximately 17.4% and 7.8% of women and men, respectively, in Brazil, which has the highest number of migraine patients In the region. The prevalence of migraine in Brazil was reported to be 15.2% in 2022. Similar trends are observed in Mexico, where the prevalence in women and men was 12.1% and 3.9%, respectively. The growing awareness of headache disorders, including migraine, is driving the demand for effective treatment options.
• Several pharmaceutical companies, such as Biohaven Pharmaceuticals, are developing innovative migraine drugs to address unmet medical needs. For instance, Fremanezumab and Erenumab are monoclonal antibodies that have shown clinical efficacy in preventing migraine attacks. These drugs target calcitonin gene-related peptide (CGRP) and its receptor, which play a crucial role in migraine pathophysiology. The pipeline of products In the migraine drugs market includes various classes of drugs, such as triptans, ditans, gepants, hormonal medications, and neurotoxins. These drugs work by targeting different mechanisms involved in migraine, including serotonin receptors, calcitonin gene-related peptide receptors, and ion channels. The development of drug reformulations and new delivery systems, such as injectable forms of CGRP antagonists, is also gaining momentum In the market.

What are the market trends shaping the Latin America Migraine Drugs Market?

The introduction of new classes of drugs with higher clinical efficacy is the upcoming trend In the market.

• The market is witnessing significant growth due to the increasing prevalence of migraine among both men and women. According to the World Health Organization, migraine is the third most common neurological disease worldwide, affecting approximately 12% of the global population. In Latin America, the prevalence is estimated to be even higher, with over 36 million people suffering from this debilitating condition. New classes of drugs, such as calcitonin gene-related peptide (CGRP) antagonists, monoclonal antibodies, and small molecule antagonists, are gaining popularity due to their higher clinical efficacy. These drugs, including Fremanezumab and Erenumab, produced by Biohaven Pharmaceuticals, are injectable and have shown promising results in clinical trials.
• The pipeline of products In the migraine drugs market includes triptans, ditans, gepants, and hormonal medications. CGRP is a 37-amino acid peptide found In the hypothalamus, thalamus, cerebellum, and sensory fibers, as well as In the peripheral nervous system. The calcitonin receptor-like subunit (CLR) and the activity-modifying protein subunit RAMP form the binding receptor for CGRP, which is a G-protein coupled receptor. Treatment awareness programs and drug reformulations are also contributing to the growth of the market. The healthcare sector is increasingly focusing on providing effective solutions for managing migraine and reducing its impact on patients' lives. The market is expected to continue growing during the forecast period as more effective treatments become available.

What challenges does Latin America Migraine Drugs Market face during the growth?

Concerns related to the side effects of migraine drugs is a key challenge affecting the market growth.

• Migraine, a debilitating neurovascular condition, affects both men and women in Latin America, with a reported prevalence of approximately 15% among women and 6% among men. Headache awareness programs are crucial in increasing the understanding and treatment of this neurological disease. Several migraine drugs are available In the market, including triptans, ditans, gepants, hormonal medications, and drug reformulations of molecule antagonists, such as monoclonal antibodies like Fremanezumab and Erenumab. These drugs have shown clinical efficacy in preventing and treating migraines. However, the use of these drugs comes with potential side effects, such as drowsiness, weight gain, insomnia, muscle weakness, chest pressure, warm sensations, and agitation.
• The World Health Organization recognizes migraine as a leading cause of disability, making it essential to address the side effects of these drugs to ensure patient compliance and market growth. The pipeline of products In the migraine drugs market includes neurotoxins, injectable formulations, and other innovative treatments. Healthcare providers play a vital role in educating patients about the benefits and risks of these drugs to optimize treatment outcomes.

Exclusive Latin America Migraine Drugs Market Customer Landscape

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

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, market forecast partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence In the market.

The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• 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.
• UCB SA

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.

Research Analyst Overview

The market is witnessing significant growth due to the increasing prevalence of this neurological disease and the rising awareness of available treatment options. Migraine is a common health condition characterized by recurring headaches that can cause discomfort, and disability, and impact an individual's quality of life. Both men and women are affected by migraines, with women being more prone to experiencing this condition. Migraines can be debilitating, leading to missed workdays and reduced productivity. According to the World Health Organization, migraine is among the leading causes of disability worldwide. The disease is often accompanied by various symptoms, including sensitivity to light, sound, and smell, nausea, and vomiting.

Moreover, the market for migraine drugs in Latin America is driven by the growing demand for effective treatments to alleviate the symptoms of this condition. Several classes of drugs are used to treat migraines, including triptans, ditans, gepants, hormonal medications, neurotoxins, molecule antagonists, and monoclonal antibodies. Triptans are a common class of drugs used to treat migraines. They work by narrowing the blood vessels surrounding the brain, reducing inflammation, and blocking pain pathways. Ditans are a newer class of drugs that target serotonin receptors In the brain, offering a different mechanism of action than triptans. Gepants are a newer class of drugs that block calcitonin gene-related peptide (CGRP), a neuropeptide involved In the transmission of pain signals.

Furthermore, hormonal medications, neurotoxins, molecule antagonists, and monoclonal antibodies are other classes of drugs used to treat migraines. Neurotoxins, such as botulinum toxin, are used to prevent chronic migraines by blocking the release of acetylcholine, a neurotransmitter involved in muscle contraction. Molecule antagonists, such as erenumab and fremanezumab, are monoclonal antibodies that target CGRP and its receptors, offering a preventive treatment option for migraines. The pipeline of products for migraine treatment in Latin America is strong, with several companies developing new drugs and formulations to address the unmet needs of patients.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming market growth and trends and changes in consumer behaviour
• Growth of the market across Latin America
• Thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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