Market Analysis and Price Projections for Emgality (NDC: 00002-3115)
Market Overview
Emgality, developed by Eli Lilly, is a calcitonin gene-related peptide (CGRP) inhibitor approved for the preventive treatment of migraine in adults and for the treatment of cluster headaches. The migraine drugs market, in which Emgality is a key player, has been experiencing significant growth driven by advancements in treatment processes and the increasing prevalence of migraines.
Current Market Size and Growth
As of 2023, the migraine drugs market size was valued at US$ 4.2 billion. This market is projected to reach US$ 6.3 billion by 2032, with a Compound Annual Growth Rate (CAGR) of 4.3% during the forecast period[5].
Role of Emgality in the Market
Emgality has been well-received due to its clinical efficacy and convenient administration via a pre-filled syringe or autoinjector pen. Since its approval in September 2018, Emgality has shown impressive sales figures. In 2021, it generated $435 million in the US and $577 million globally. Analysts forecast peak sales of $1.27 billion by 2025, indicating strong market reception and growth potential[5].
Competitive Landscape
Emgality competes in a crowded market with other CGRP inhibitors such as Amgen’s Aimovig and Teva’s Ajovy. Despite this competition, Emgality has managed to carve out a significant market share due to its clinical results, convenient administration, and favorable reimbursement scenarios. The drug has received coverage from major pharmacy benefit managers (PBMs) like Express Scripts, OptumRx, and CVS, further boosting its market presence[5].
Factors Driving Market Growth
Several factors are driving the growth of the migraine drugs market:
- Advancements in Novel Therapies: The introduction of CGRP inhibitors like Emgality has revolutionized migraine treatment, offering patients more effective and personalized treatment options[5].
- Increasing Prevalence: The high prevalence of migraines globally, affecting around 12% of the population, presents a significant market opportunity[5].
- Favorable Reimbursement Scenarios: Positive reimbursement policies for migraine medications, especially for CGRP inhibitors, have facilitated patient access and driven sales[5].
- Awareness and Research: Increased awareness initiatives and availability of research funds have contributed to the growth of the market[5].
Price Trends and Projections
The average pharmacy cost for Emgality (300 mg dose, 100 mg/mL x 3 syringes) was reported to be around $567.92 per unit as of December 2024[5].
Price Drivers
- Research and Development Costs: Manufacturers often attribute price increases to research and development costs, as well as obligations to shareholders and the use of co-pay assistance programs[1].
- Market Competition: While Emgality faces competition from other CGRP inhibitors, its strong clinical results and convenient administration help maintain its pricing power[5].
- Reimbursement Policies: Favorable reimbursement scenarios play a crucial role in managing the high costs of Emgality. Insurance coverage and manufacturer programs help reduce the financial burden on patients[5].
Future Price Projections
Given the projected growth of the migraine drugs market and the specific performance of Emgality, it is likely that the drug will continue to command a premium price. However, the overall trend in pharmaceutical pricing suggests that there may be moderate increases rather than drastic hikes. For instance, Vizient projects a 3.8% drug price inflation in 2024, driven in part by specialty pharmaceuticals, which could influence the pricing of Emgality and similar drugs[2].
Key Takeaways
- Market Size and Growth: The migraine drugs market is projected to reach US$ 6.3 billion by 2032, with a CAGR of 4.3% during the forecast period.
- Emgality’s Role: Emgality is a significant player in the market, known for its clinical efficacy and convenient administration.
- Pricing and Cost: The cost of Emgality is high without insurance, but various savings options and insurance coverage help manage the expenses.
- Future Outlook: The market is expected to grow, driven by increasing prevalence and advancements in treatments.
FAQs
-
What is Emgality used for?
- Emgality is used for the preventive treatment of migraine in adults and for the treatment of cluster headaches[5].
-
How is Emgality administered?
- Emgality is administered via a pre-filled syringe or an autoinjector pen[5].
-
What is the current market size of the migraine drugs market?
- As of 2023, the migraine drugs market size was valued at US$ 4.2 billion[5].
-
What is the projected peak sales of Emgality by 2025?
- Analysts forecast peak sales of $1.27 billion for Emgality by 2025[5].
-
What factors drive the growth of the migraine drugs market?
- The growth is driven by advancements in novel therapies, increasing prevalence of migraines, favorable reimbursement scenarios, and increased awareness and research[5].
Cited Sources:
- Prescription Drug Price Transparency Results and Recommendations - Oregon Department of Consumer and Business Services[1].
- Vizient Projects 3.8% Drug Price Increase Driven by Specialty Pharmaceuticals - Vizient, Inc.[2].
- 5 Predictions for the Biopharma and Biotech Industries in 2025 - TFS CRO[3].
- NSCLC MARKET - Global Drug Forecast & Market Analysis to 2025 - GlobalData[4].
- Drug prices and trends for EMGALITY - DrugPatentWatch[5].
