July 20, 2024

Cluster Headache Market Is Estimated To Witness High Growth Owing To Rising Geriatric Population

Market Overview:

Cluster headache is a rare neurological condition characterized by intense unilateral headaches that occur in episodic bouts. The headaches are commonly described as boring, stabbing, or squeezing in quality. Treatment options for cluster headache include oxygen therapy, pharmaceutical medications such as triptans, and neurostimulation devices.

Market Dynamics:

The increasing geriatric population is prone to develop cluster headaches owing to age-related changes in cranial nerves and blood vessels which is expected to drive the market growth. According to the United Nations, the population aged 60 years or over is expected to more than double by 2050 and reach nearly 2.1 billion. Moreover, several pharmaceutical companies are investing heavily in research and development of novel drug therapies for cluster headache treatment which is anticipated to present lucrative opportunities in the market over the forecast period. However, lack of awareness about cluster headache condition and underdiagnosis especially in developing countries may hamper market growth.

SWOT Analysis

Strengths:
– Increasing prevalence of cluster headaches globally is boosting the growth of the market.
– Growing R&D activities for development of novel drugs and devices for treatment of cluster headaches.
– Rising adoption of nasal sprays and injectable formulations owing to their ease of administration.

Weaknesses:
– Lack of awareness about cluster headache condition in developing regions.
– High cost associated with treatment and devices hampers the market growth to some extent.

Opportunities:
– Untapped growth potential in emerging markets of Asia Pacific and Latin America.
– Favorable reimbursement policies and government support promotes the adoption of treatments.

Threats:
– Stringent regulations for approval of drugs and devices.
– Availability of alternative treatment options like acupuncture poses competition to the market.

Key Takeaways

The Global Cluster Headache Market Demand is expected to witness high growth, exhibiting CAGR of 6.4% over the forecast period, due to increasing prevalence of cluster headaches globally. The market size for 2023 is US$ 402.12 Mn.

Regional analysis
North America is currently dominating the cluster headache market owing to growing incidence rates and availability of advanced treatment options in the region. Europe is also contributing significantly to market growth due to increasing adoption of novel formulations.

Key players
Key players operating in the cluster headache market are Zosano Pharma, Eli Lilly and Company, Lundbeck Seattle BioPharmaceutical, Winston Laboratories, GlaxoSmithKline plc., ElectroCore Medical LLC, Autonomic Technologies, Inc., AstraZeneca plc., Allergan plc., Bayer AG, F. Hoffmann-La Roche Ltd, Novartis AG, Sun Pharmaceutical Industries Ltd, Teva Pharmaceutical Industries Ltd., Takeda Pharmaceutical Company Limited, Sanofi, and AbbVie Inc.

Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it