Report ID: SQMIG35A2821
Report ID:
SQMIG35A2821 |
Region:
Global |
Published Date: July, 2024
Pages:
219
|
Tables:
64 |
Figures:
67
Drivers
Increasing Prevalence of Fibromyalgia
The growth of the global fibromyalgia treatment market is influenced by various factors, with the predominant driver being the escalating prevalence of fibromyalgia worldwide. According to the National Institute of Arthritis and Musculoskeletal and Skin Diseases (NIAMS), an estimated five million individuals aged 18 years and older in the United States suffer from fibromyalgia. Notably, the majority of fibromyalgia patients, ranging from 80 to 90 percent, are females. This gender-specific prevalence underscores the significant impact of fibromyalgia on the female population. The increasing awareness of fibromyalgia and improvements in diagnostic capabilities contribute to the growing identification of cases globally.
Restraints
Higher adoption of Off-label and Generic Drugs
The limited availability of drugs specifically approved for the treatment of fibromyalgia, currently standing at only three, has resulted in a higher reliance on off-label medications and generic antidepressants for managing the indications of the disease. Furthermore, the loss of patent protection rights for Lyrica, a key medication in fibromyalgia treatment, by Pfizer in June 2019 has had a notable impact on the drug's market revenue. With the expiration of patent protection, generic versions of Lyrica have entered the market, leading to increased competition and subsequently affecting the overall market growth.
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Report ID: SQMIG35A2821