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, and Others), By Distribution Channels(Hospital pharmacies, Retail pharmacies, and 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 Insights

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).

Fibromyalgia is a chronic pain disorder characterized by widespread pain, fatigue, and additional symptoms including sleep disturbances, cognitive issues, and mood changes. This condition is estimated to impact about 2% of the global adult population, with a higher prevalence among women compared to men. Despite extensive research, there is currently no cure for fibromyalgia.

However, various treatment modalities exist to assist in symptom management and enhance the overall quality of life for individuals affected by this condition. Treatment approaches typically encompass a combination of medications, lifestyle modifications, and non-pharmacological therapies. The goal is to alleviate pain, enhance sleep quality, address cognitive challenges, and improve overall well-being. The multidisciplinary nature of fibromyalgia treatment underscores the complexity of managing its diverse symptoms, and a personalized approach is often adopted to tailor interventions based on individual needs and responses.

Fibromyalgia Treatment Market Report Snapshots

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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, and Others), By Distribution Channels(Hospital pharmacies, Retail pharmacies, and Online pharmacies), By Region - Industry Forecast 2024-2031

Fibromyalgia Treatment Market Insights

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