REPORT OUTLOOK
Market Size | CAGR | Dominating Region |
---|---|---|
USD 9.6 Billion by 2032 | 8.8% | North America |
By Type | By Age-Group | By Mode |
---|---|---|
|
|
|
SCOPE OF THE REPORT
Digital Therapeutics & Medical Devices for Migraine Market
Global Digital Therapeutics & Medical Devices for Migraine Market Size is USD 4.8 Billion predicted to witness Till USD 9.6 Billion with a 8.8% CAGR during the forecast period for 2024-2032.
Digital therapeutics and medical devices for migraines utilize technology to alleviate and manage migraine symptoms. Common digital treatments include mindfulness exercises and cognitive behavioral therapy aimed at managing these symptoms. Market growth in this sector is driven by advancements in digital health technology, increased awareness and prevalence of migraines, and a growing preference for non-pharmaceutical treatments. Additional factors propelling market expansion include the rising availability of telemedicine services and the development of AI and machine learning-powered personalized healthcare solutions. The growing acceptance and use of digital health solutions by patients and healthcare providers worldwide also contribute significantly to market growth.
However, several challenges could slow market growth, including the high costs of digital therapeutics and medical devices, regulatory hurdles, expensive development and implementation processes, and concerns over data safety and confidentiality. Despite these obstacles, the market is expected to grow during the forecast period due to technological advancements, strong partnerships with government agencies, a younger population, and increased healthcare expenditure.
Digital Therapeutics & Medical Devices for Migraine Market Report Scope
ATTRIBUTE | DETAILS |
Market Size Value In 2023 | USD 4.8 Billion |
Revenue Forecast In 2032 | USD 9.6 Billion |
Growth Rate CAGR | CAGR of 8.78% from 2024 to 2032 |
Quantitative Units | Representation of revenue in US$ Bn and CAGR from 2024 to 2032 |
Forecast Year | 2024-2032 |
Historic Year | 2019 to 2023 |
By Product |
|
By End-User |
|
By Region |
|
Customization Scope | Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
Competitive Landscape | Neurolief Ltd., Neuros Medical, Inc., Novartis AG, Pfizer Inc., Salvia BioElectronics B.V., Theranica Bio-Electronics Ltd., Other Prominent Players, Relivion MG, gammaCore, WeatherX, Aculief, Theragun, Allay Lamp, Shakti Mat, Allodynic Therapeutics, LLC, Amgen Inc., Bayer AG, Cefaly Technology, Cirrus Healthcare Products, electroCore, Inc, Eli Lilly and Company, eNeura Inc., GlaxoSmithKline plc. |
Digital Therapeutics & Medical Devices for Migraine Market Dynamics
Drivers
The market for digital therapeutics and medical devices for migraines is expanding due to the fact that a large portion of the world’s population suffers from this common neurological condition. The growing number of people with migraine diagnoses is driving the need for medical devices and digital treatments.
In addition, non-drug remedies are growing in popularity among migraine sufferers because of concerns about pharmaceutical side effects, using medications for migraines, and personal health philosophies. In order to treat migraines, there is an increasing need for medical devices and digital therapies. As a result, the global market for migraine medical devices and digital therapies is still growing.
Challenges
The industry for digital therapeutics and medical devices for migraine sufferers may face several challenges in its growth. The protracted and intricate regulatory approval process that new digital solutions must go through with organizations like the FDA is a significant barrier.
The issue of reimbursement is exacerbated by the requirement for insurers to actively cover innovative digital therapy. The effectiveness and reliability of digital treatments in comparison to traditional methods are frequently questioned by patients and healthcare professionals.
Furthermore, the need for robust clinical validation to ascertain the efficacy and safety of these digital solutions may cause a delay in their acceptance and market penetration. Over the coming years, it is anticipated that these restrictions will restrict the market’s growth for digital therapeutics and medical devices for migraines.
Competitive Landscape
Some Major Key Players In The Digital Therapeutics & Medical Devices for Migraine Market:
- Relivion MG
- gammaCore
- WeatherX
- Aculief
- Theragun
- Allay Lamp
- Shakti Mat
- Allodynic Therapeutics, LLC
- Amgen Inc.
- Bayer AG
- Cefaly Technology
- Cirrus Healthcare Products
- electroCore, Inc
- Eli Lilly and Company
- eNeura Inc.
- GlaxoSmithKline plc.
- Neurolief Ltd.
- Neuros Medical, Inc.
- Novartis AG
- Pfizer Inc.
- Salvia BioElectronics B.V.
- Theranica Bio-Electronics Ltd.
- Other Prominent Players
Recent Developments
-
January 2024: Neurolief announced a strategic equity investment from Sawai Group Holdings Co., Ltd. This follows an exclusive agreement for developing and marketing Neurolief’s Relivion, a groundbreaking non-invasive, at-home wearable electroceutical therapy for depression and migraines, in Japan. This investment strengthens the strategic collaboration between Neurolief and the Japanese pharmaceutical company.
-
February 2024: Theranica, a leader in prescribed digital therapeutics, announced that its Nerivio Remote Electrical Neuromodulation wearable, designed for the treatment and prevention of migraines, will be covered by a commercial insurance policy offered by Highmark Inc.
North America Leads in Market Revenue:
The North American digital therapeutics and medical devices for migraine market is expected to record the highest revenue share in the near future. This is due to substantial investments in healthcare technology, widespread use of digital health solutions, and a well-developed healthcare infrastructure. Additionally, the Asia Pacific market is anticipated to expand due to rising healthcare spending, an emphasis on research and innovation in non-pharmacological migraine therapies, and industrial growth driven by increasing healthcare costs, migraine incidence, and interest in digital health solutions. The development of new technologies and improved healthcare infrastructure further drive market growth in this region.
Segmentation of Digital Therapeutics & Medical Devices for Migraine Market
Digital Therapeutics & Medical Devices for Migraine Market By Type-
- Arm Device
- Neck Device
- Head/Forehead Device
- Others
Digital Therapeutics & Medical Devices for Migraine Market By Age-Group-
- Above 18 Years
- Above 12 Years
Digital Therapeutics & Medical Devices for Migraine Market By Mode of Action-
- Electrical Pulse
- Mild Electrical Stimulation
- Deep Muscle Treatment
Digital Therapeutics & Medical Devices for Migraine Market By Region-
North America-
- The US
- Canada
- Mexico
Europe-
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific-
- China
- Japan
- India
- South Korea
- South East Asia
- Rest of Asia Pacific
Latin America-
- Brazil
- Argentina
- Rest of Latin America
 Middle East & Africa-
- GCC Countries
- South Africa
- Rest of Middle East and Africa
Head/Forehead Devices Dominate the Market:
The head/forehead device segment is anticipated to hold a major share of the global digital therapeutics and medical devices for migraine market in 2023. These devices offer a straightforward, non-invasive, and drug-free method for relieving migraine symptoms, making them popular alternatives to standard pharmaceutical treatments. Their efficacy and user-friendliness are key factors driving market growth.
Rapid Growth in the Above 18 Years Segment:
The above 18 years segment is projected to grow rapidly in the global market, as migraines frequently affect adults. Working-age adults are increasingly seeking effective non-pharmacological methods to manage migraines to maintain productivity and avoid drug usage. This demographic’s growing awareness and willingness to adopt digital health solutions also contribute to the segment’s future growth.
FAQ
Digital Therapeutics & Medical Devices for Migraine Market Size is predicted to witness a 8.8% CAGR during the forecast period for 2024-2032.
GlaxoSmithKline plc., Neurolief Ltd., Neuros Medical, Inc., Novartis AG, Pfizer Inc., Salvia BioElectronics B.V., and Theranica Bio-Electronics Ltd.
In-Depth Database
Our Report’s database covers almost all topics of all regions over the Globe.
Recognised Publishing Sources
Tie ups with top publishers around the globe.
Customer Support
Complete pre and post sales
support.
Safe & Secure
Complete secure payment
process.