The global flunarizine hydrochloride market is anticipated to grow at considerable CAGR during the forecast period (2022-2028). Flunarizine hydrochloride is a calcium antagonist that works to prevent or reduce migraine migraines. This medication is used to treat vertigo and dizziness. Flunarizine hydrochloride market growth is fueled by rising migraine prevalence, increased intake of junk food, smoking and drinking, and a hectic and stressful lifestyle that leads to migraines. Further, the calcium channel, voltage-gated subunit beta-type (CACNB) gene is studied using flunarizine hydrochloride in research. Flunarizine inhibits the translation of CACNB mRNA, lowering the protein's expression. The effect of calcium channel, voltage-gated subunit beta-type encoded protein in neuronal development is being studied with this medication. Flunarizine inhibits the translation of CACNB mRNA, lowering the protein's expression.

The presence of alternatives is restraining the growth of global flunarizine hydrochloride market. For instance, in May 2021, Biohaven Pharma has launched Nurtec Odt. Furthermore, US Food and Drug Administration has approved the drug in February 2021. The Nurtec is a calcitonin gene-related peptide receptor antagonist that is used to treat acute migraine and also prevents episodic migraine in adults. Moreover, according to the CEO of Biohaven pharma, the company reported $136 million in net product revenue from the sales of Nurtec Odt in the third quarter of 2021. The availability of various alternatives is anticipated to hamper the demand of global flunarizine hydrochloride market during the forecast period.

Impact of COVID-19 Pandemic on Global Flunarizine Hydrochloride Market. 

The COVID-19 pandemic had resulted in a significant impact on the global economy as a whole. However, the COVID-19 pandemic has resulted in a decline in the growth of the global flunarizine hydrochloride market. The implementation of lockdown and restrictions has disrupted the supply chain which led to delayed business deals between the manufacturers and producers. Thus, owing to the strict regulations, the global flunarizine market has resulted in a significant decline.

Segmental Outlook 

The global flunarizine hydrochloride market is segmented based on application and drug formulation. Based on the application, the market is further segmented into vertigo and migraine. Based on the drug formulation, the market is further sub-segmented into tablets and capsules. Among these, the migraine segment is anticipated to hold a considerable share in the market owing to the rise in the awareness of healthcare among the population.

Global Flunarizine Hydrochloride Market by Drug Formulation, 2021 (%)

The Tablet Segment is Anticipated to Hold a Prominent Share in the Global Flunarizine Hydrochloride Market 

 Tablets are a type of medicine that is used to treat a variety of ailments. Chemical ingredients in these drugs have effects on the body that can help prevent or treat symptoms linked with a variety of diseases or medical problems. The tablet segment is anticipated to hold a prominent share in the Global Flunarizine Hydrochloride Market owing to the rise in the research and development (R&D) activities and new launches. For instance, in September 2021, AbbVie Inc developed Qulipta (Antogepant). The qulipta tablet helps in preventing migraine in adults. Moreover, in September 2021, the US Food and Drug Administration (FDA) has approved the drug for general use. Further, Cipla manufactured Rizact. The Rizact prevents symptoms of migraine and prevents attacks at an early stage. The Rizact compromises two doses such as 10 mg and 5 mg. Thus, rise in research and development (R&D) and new launches are anticipated to drive the tablet segment.

Regional Outlook 

The global flunarizine hydrochloride market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East &Africa, and Latin America).  The market can be analyzed for a particular region or country level as per the requirement. Among these, the Asia Pacific segment is anticipated to hold a considerable share in the market over the forecast period owing to rise in the healthcare infrastructure.

Global Flunarizine Hydrochloride Market, by Region 2022-2028

North America is Anticipated to Hold a Prominent Share in the Global Flunarizine Hydrochloride Market 

North America is anticipated to hold a prominent share in the global flunarizine hydrochloride market owing to the rise in the prevalence of migraine and the high cost of treatment. For instance, according to National Inpatient Sample Analysis published in 2020, migraine affects 1 in 7 Americans annually, and an estimated 40 million people are suffering from migraine. The prevalence of migraine is estimated at 19% in women and 9% in males. Moreover, the economic impact of migraine in the US is estimated between $13 billion and $17 billion annually. Thus, the rise in the prevalence of migraine is anticipated to propel the growth of the market in the region, further boosting the global flunarizine hydrochloride market over the forecast period.

Market Players Outlook 

The major companies serving the global flunarizine hydrochloride market are Johnson & Johnson Services Inc., Cipla Ltd., Torrent Pharmaceuticals Ltd., Alkem Laboratories Ltd, and more. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market.  For instance, in December 2019, Uberlvy received approval from Food and Drug Administration for Uberlvy. Uberlvy is a medicine developed by Allergan, used for the treatment of acute migraine attacks in adults.

The Report Covers

• Market value data analysis of 2021 and forecast to 2028.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the flunarizine hydrochloride market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.