Fibromyalgia Therapeutics Market Set For Rapid Growth, To Reach Value $2.7 billion by 2033
Zion Market Research has published a new report titled “Fibromyalgia Therapeutics Market by Drug Class (Antidepressants [Duloxetine, Milnacipran, and Other Drugs], Antiepileptic’s [Gabapentin, Pregabalin, and Other Drugs], Muscle Relaxants, Analgesics, and Other Drugs), and by Distribution Channel (Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy): Global Industry Perspective, Comprehensive Analysis and Forecast.
According to the report, The global Fibromyalgia Therapeutics Market is expected to reach USD 2.7 billion by 2032, growing at a CAGR of 7.0% from 2023 to 2033.
Fibromyalgia is a condition with an unidentified cause, and its main symptoms are chronic pain, and muscle tenderness as per the National Institute of Arthritis and Musculoskeletal and Skin Diseases. In contrast to arthritis, it does not trigger inflammation of the muscle, joint, or other tissue. However, it is known to cause joint impairment, soft tissue, and cause important pain and tiredness. Fibromyalgia is more likely to affect more females than males. The situation in the U.S. impacts over 5 million individuals aged 18 years and older, 80–90% of which are females. There is no specific diagnostic test for fibromyalgia detection, and doctors perform differential diagnosis to verify the syndrome’s existence. Only three drugs are currently approved for the treatment of fibromyalgia in the U.S. Off-label therapy with sedatives, analgesics, neuroleptics, antidepressants, and muscle relaxants are a common alternative to treat fibromyalgia.
The market for fibromyalgia therapeutics is segmented on the basis of drug class, and distribution channel. On the basis of drug class, the market is segmented into antiepileptic, antidepressants, analgesics, muscle relaxants, and other drugs. The antidepressant drugs held major share of the market in 2018 as these medicines help to comfort pain associated with the disorder and fatigue. The antiepileptic drugs segment also accounted for equal share in the fibromyalgia therapeutics market as Pregabalin and Gabapentin are major antiepileptic drugs prescribed for fibromyalgia treatment. Based on distribution channel the fibromyalgia therapeutics market is segmented into retail, hospital, and online pharmacies. The hospital pharmacy held major share of the market. However, online pharmacies are likely to register high CAGR in the forecast period.
North America, Asia-Pacific, Latin America, Middle East & Africa, and Europe are key regional segments of fibromyalgia therapeutics market. North America dominated the fibromyalgia therapeutics market in 2018. The rising prevalence of chronic rheumatic diseases and growing healthcare expenditure are some of the major factors propelling the growth of market in this region. According to the 2017 stats proposed by the Centers for Disease Control and Prevention (CDC), about 54.4 million adolescents in the U.S. have arthritis i.e. about 25% of the population. It is also noted that arthritis is expected to reach in the U.S. to nearly 78 million adolescents, aged 18 years or older, by 2040. Some of the variables that fuel the North American market are also the presence of extremely developed technology, increasing numbers of chronic pain illnesses owing to evolving lifestyle. In addition, growth in the ageing population base, the presence of promising healthcare systems mentioned by government agencies, increased awareness among the population are further driving market growth in this region.
Some of the players involved in the fibromyalgia therapeutics market are -
- Novartis AG
- Pfizer
- Astellas Pharma
- Eli Lilly and Company
- Allergan Plc
- Aptinyx
- Sun Pharmaceutical Industries Ltd.
- Prismic Pharmaceuticals
- Innovative Med Concepts
- Intec Pharma Ltd.
- Bayer AG
- Sanofi.
The large number of potential pipeline drugs for fibromyalgia treatment is likely to generate excellent opportunity for growth of market in near future. Moreover, patent loss of drugs and penetration of generic drugs globally is anticipated to enhance affordability of patients further propelling the market for fibromyalgia treatment in the near future.
This report segments the global fibromyalgia therapeutics market as follows:
Global Fibromyalgia Therapeutics Market: Drug Class Segment Analysis
- Antidepressants (Duloxetine, Milnacipran, and Other Drugs)
- Antiepileptic’s (Gabapentin, Pregabalin, and Other Drugs)
- Muscle Relaxants
- Analgesics
- Other Drugs
Global Fibromyalgia Therapeutics Market: Distribution Channel Segment
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
Global Fibromyalgia Therapeutics Market: Regional Segment Analysis
- North AmericaU.S.
- EuropeUKFranceGermany
- Asia PacificChinaJapanIndia
- Latin AmericaBrazil
- Middle East and Africa
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