Who are the key vendors in the Global Fibromyalgia Treatment Market?

The competitive environment of the global Fibromyalgia Treatment market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. 'Pfizer, Inc.', 'Eli Lilly and Company', 'AbbVie, Inc.', 'Teva Pharmaceutical Industries Ltd.', 'Johnson & Johnson Services, Inc', 'Sanofi', 'GlaxoSmithKline plc.', 'Bayer AG', 'TONIX Pharmaceuticals Holdings Corp', 'Virios Therapeutics, Inc.', 'Aptinyx Inc.', 'FSD Pharma'.

What is the key driver of Global Fibromyalgia Treatment Market?

Various factors affect the growth of the global fibromyalgia treatment market, primarily due to the increasing prevalence of fibromyalgia worldwide. According to the National Institute of Arthritis and Musculoskeletal and Skin Diseases (NIAMS), about five million people aged 18 and after and have fibromyalgia in the US. It is worth noting that 80 to 90 percent of fibromyalgia patients are mostly women. This sex-specific prevalence highlights the significant impact of fibromyalgia on the female population. Increasing awareness of fibromyalgia and improved diagnostic capabilities are contributing to greater acceptance of the issues worldwide.

What is the key market trend for Global Fibromyalgia Treatment Market?

Key players in the global fibromyalgia treatment market are engaged in innovative therapies aimed at sustaining or consolidating their market. The launch and approval of emerging Fibromyalgia treatments will contribute significantly to the market that has developed during the forecast period. Expect an illustrative example of the article galcanezumab, by Eli Lilly & Co.; and developed, with Phase IV clinical trials currently underway from January 2021 -phase to December 2021, primarily for the treatment of fibromyalgia. This expansion of existing indications exemplifies the commitment of large pharmaceutical companies to meet the complex and evolving needs of patients with fibromyalgia.

Which region accounted for the largest share in Global Fibromyalgia Treatment Market?

North America in the fibromyalgia treatment market posted the highest revenue, at USD 1,253.5 million, and is expected to maintain significant market growth throughout the forecast period. This growth is driven by the high volumes seen in the region which may also lead to widespread and more advanced approved products that can be used to manage the disease..

Fibromyalgia Treatment Market Size, Share, Growth Analysis, By Drug class(Antidepressants, Antiepileptic, Muscle relaxants, Others), By Distribution Channels(Hospital pharmacies, Retail pharmacies, Online pharmacies), By Region - Industry Forecast 2024-2031

Report ID: SQMIG35A2821 | Region: Global | Published Date: July, 2024
Pages: 219 | Tables: 64 | Figures: 67

Fibromyalgia Treatment Market News

In December 2020, Tonix Pharmaceuticals disclosed encouraging results from a Phase III study evaluating TNX-102 for the treatment of fibromyalgia. The positive results are a significant milestone for Tonix Pharmaceutical, and demonstrate the potential efficacy of TNX-102 in managing the severe complications associated with fibromyalgia. This achievement demonstrates the company’s determination to enhance treatment options for individuals affected by this chronic pain.

In June 2020, Teva Pharmaceutical Industries Ltd. will post a $1.2 billion market cap. announced updated data from the AJOVY injection open-label study. The study focused on evaluating the efficacy of AJOVY in both migraine and fibromyalgia. This initiative by Teva Pharmaceutical reflects the pharmaceutical industry’s commitment to finding multiple uses for existing drugs and underscores its ongoing efforts to provide comprehensive therapeutic solutions for conditions such as fibromyalgia.

Fibromyalgia Treatment Market Report Snapshots

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Global Fibromyalgia Treatment Market size was valued at USD 1.3 billion in 2022 and is poised to grow from USD 1.39 billion in 2023 to USD 2.39 billion by 2031, growing at a CAGR of 7.00% in the forecast period (2024-2031).

The competitive environment of the global Fibromyalgia Treatment market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Leading brands invest in research and development to introduce new flavors, packaging formats, and health-focused variations to cater to changing consumer preferences. They often set the trends in the industry. 'Pfizer, Inc.', 'Eli Lilly and Company', 'AbbVie, Inc.', 'Teva Pharmaceutical Industries Ltd.', 'Johnson & Johnson Services, Inc', 'Sanofi', 'GlaxoSmithKline plc.', 'Bayer AG', 'TONIX Pharmaceuticals Holdings Corp', 'Virios Therapeutics, Inc.', 'Aptinyx Inc.', 'FSD Pharma'

Prominent players in the fibromyalgia treatment market are proactively involved in the introduction of innovative therapies, aiming to establish or fortify their market presence. The imminent launches and approvals of novel treatments dedicated to fibromyalgia are anticipated to contribute significantly to market growth in the forecast period. One illustrative example is the case of Galcanezumab, developed by Eli Lilly and Company, which is currently undergoing a phase 4 clinical trial as of January 2021. Originally approved for the treatment of migraine and cluster headache, Galcanezumab is poised to complete its pivotal clinical end-stage by December 2021, specifically for the treatment of fibromyalgia. This strategic expansion of indications for existing drugs exemplifies the commitment of major pharmaceutical companies to address the complex and evolving needs of fibromyalgia patients.

North America exhibited substantial revenue generation in the fibromyalgia treatment market, amounting to USD 1,253.5 million, and is anticipated to maintain predominant market growth throughout the projected time frame. This growth can be attributed to a higher rate of diagnosis and the prevalence of fibromyalgia in the region, coupled with the broader availability of advanced approved products for managing the disease.

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Fibromyalgia Treatment Market Size, Share, Growth Analysis, By Drug class(Antidepressants, Antiepileptic, Muscle relaxants, Others), By Distribution Channels(Hospital pharmacies, Retail pharmacies, Online pharmacies), By Region - Industry Forecast 2024-2031

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