Report Overview

The Australian Migraine Drugs market size stood at around USD xx billion in 2019 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of xx% during the forecast period.

Migraine is a neurological condition that is estimated to affect 4.9 million Australians. Migraine is characterized by recurrent attacks of moderate to severe headache. Migraine pain is typically pulsating, affecting one side or area of the head. During a migraine attack, patients may experience nausea, vomiting, and sensory sensitivity such as phonophobia and photophobia that significantly affects their lives. Despite its impact, migraine is underdiagnosed and undertreated. The total economic costs of migraines in 2018 are estimated to be $35.7 billion in 2018. $8.1 billion (23%) of these costs are attributable to chronic migraine and $27.6 billion (77%) are attributable to episodic migraine.



Market Drivers

The rise in prevalence of migraine and the development of novel drugs are the major drivers which propelled the demand of the market in the forecast period. The rising population and growing demand for quality drugs are significant factors driving the growth of the global migraine drugs market. Creating awareness over the availability of different treatment procedures for migraines in rural areas boosts the demand of the market. Investments in the development of new drugs by market players and other companies are also leveling up the growth rate of the market. Changes in lifestyles and rising stress levels among people are some of the factors for the market to grow.

Epidemiology

20.55% of Australians suffer from migraines. Prevalence is higher for women, with 28.66% of women experiencing migraines compared to 11.96% of men (Institute for Health Metrics Evaluation (IHME), 2016). 7.6% of Australian migraine sufferers experience a severe form of migraine known as chronic migraine, defined as 15 or more migraine days per month.

Females aged 25 to 29 face the highest prevalence rate of chronic migraine (3.7% of this cohort), while the highest prevalence rate of episodic migraine (42.3%) occurs in females aged 35 to 39. Migraine prevalence (rate and cases) is higher among females than males in every age group, and prevalence (rate and cases) for males is more stable across age groups. 86% of people with migraines are of working age (15-65).