Fibromyalgia Antidepressants Market

Market Study on Fibromyalgia Antidepressants: Duloxetine HCl Holds High Share and Drives Market Revenue

  • October-2021
  • PMRREP32898
  • 245 Pages
  • Healthcare
  • PPT, PDF, WORD, EXCEL

Market Snapshot

The global fibromyalgia antidepressants market was valued at US$ 440.8 Mn in 2020. As per Persistence Market Research’s projections, duloxetine HCL antidepressants hold a substantial share under drug class at over 60%. Overall, the worldwide fibromyalgia antidepressants market is projected to register a healthy CAGR of 8.1% during the forecast period (2021-2031).

Fibromyalgia Antidepressants Industry Outlook:

Data Points

Market Insights

Market Value 2020

USD 440.8 Mn

Market Value 2021

USD 466 Mn

CAGR 2021-2031

8.1%

Key Players

  • Pfizer Inc.
  • AbbVie Inc
  • Virios Therapeutics Inc
  • FSD Pharma
  • TONIX Pharmaceuticals Holdings Corp
  • Aptinyx Inc.

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Companies

  • Pfizer, Inc.
  • Eli Lilly and Company.
  • AbbVie, Inc
  • TONIX Pharmaceuticals Holdings Corp
  • Virios Therapeutics, Inc.
  • Aptinyx Inc.

Sales Analysis of Fibromyalgia Antidepressant Drugs from 2016 to 2020 Vs Market Outlook for 2021 to 2031

Global market value of fibromyalgia antidepressants was US$ 440.8 Mn in 2020. Rising prevalence of the fibromyalgia disorder with symptoms such as fatigue, sleep disorders, memory and mood issues, irritable bowel syndrome, headaches, and depression across the globe are factors driving demand for fibromyalgia antidepressants.

Moreover, increasing penetration of generic fibromyalgia antidepressants, rising number of approved treatment options for fibromyalgia, potential customer base, new product launches, and product approvals globally are also major factors driving market expansion.

The market is expected to register a high CAGR of 8.1% over the forecast period (2021-2031).

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What Opportunities Await Fibromyalgia Antidepressant Manufacturers?

The global market is marked by the presence of established as well emerging players. These players are actively investing in significant research & development to come out with novel therapies. As a result, there are promising product pipelines in advanced stages of clinical trials. Thus, availability of treatment options with commercialization potential is expected to augment market growth and help players strengthen their position in the market.

Additionally, consolidation activities and mergers & acquisitions have emerged as a key growth strategy among industry leaders.

  • In May 2021, Tanezumab, an osteoarthritis drug developed by Eli Lily and Pfizer, was considered by the FDA as a non-addictive painkiller, for the pain management of arthritis.
  • In December 2020, Eli Lily acquired Prevail Therapeutics, a U.S.-based pharmaceutical player that focuses on treatment of neurogenrative disease.
  • In June 2019, Pfizer, Inc. entered into an agreement to combine Upjohn and Mylan and create a whole new pharmaceutical company named Viatris. This combination will drive the diverse portfolio of biosimilars, prescription medicines, generics, and OTC products. All this will be done in support of commercial and regulatory expertise, infrastructure for R&D and manufacturing, and ultimately, a vibrant supply chain.

There are various potential drug candidates such as NYX-2925 (Aptinyx), DS-5565 (Daichi Sankyo), and TD-9855 (Theravance Biopharma) that are in Phase 2/Phase 3 stages of clinical trials.

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Which Factors are Restraining Demand for Fibromyalgia Antidepressants?

Limited availability of these drug has resulted in large-scale adoption of off-label drugs, which means, the prescribed class of drugs are effective in the treatment of fibromyalgia but not approved by the FDA as an actual drug to treat the disease. Lower dose of antidepressants are commonly prescribed off-label drugs to treat the disease.

Thus, this prescription pattern is most likely to be observed specifically in lower-income economies or in countries where the drugs are not available. Also, in some cases, physicians are reluctant to prescribe available drugs. Thus, widespread adoption of off-label drugs limits the penetration of the actual drugs, subsequently restraining market growth.

Insurance coverage has a significant impact on prescription patterns. Considering the current landscape, the market is primarily dominated by off-label and generic drugs, which makes it difficult for insurers to provide coverage for newly introduced branded drugs.

Treatment with already approved drugs costs higher as compared to off-label products. For patients who are covered with insurance, out-of-pocket costs will include a coinsurance or co-pay. While patients who are not covered with insurance, cost of treatment would range from US$ 400 - 700 for a month's course.

Thus, high treatment cost is another major factor that limits the adoption of fibromyalgia antidepressants, hampering overall market growth.

fibromyalgia-antidepressants-market

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Country-wise Insights

What Makes the U.S. a Leading Market for Fibromyalgia Antidepressants?

The U.S. dominates the North American region with a total market share of 89.3% in 2021, and is projected to continue experiencing high growth throughout the forecast period. Demand for fibromyalgia antidepressants is rising due to research & development activities, presence of leading market players, growing regulatory approvals, and availability of drugs with superior efficacy.  

Why is Germany Considered a Lucrative Market for Fibromyalgia Antidepressants in Europe?

Germany dominates the European market for fibromyalgia antidepressants, with a share of 23.7% in 2021. Growth of this market is driven due to rising prevalence of fibromyalgia, rise in healthcare expenditure, and increasing government initiatives.

Additionally, large number of manufacturers are entering into research collaborations to develop effective fibromyalgia antidepressant drugs.

Why is Japan an Emerging Market for Fibromyalgia Antidepressants?

Japan holds 50% share in the East Asia market, and is projected to expand at a CAGR of over 11%. Rising number of patients suffering from fibromyalgia, advanced healthcare infrastructure, and increasing awareness about fibromyalgia antidepressants are major factors attributed to the growth of the market in the country.

Category-wise Insights

Which Fibromyalgia Antidepressant is Driving Market Growth?

In terms of drug, duloxetine HCl drug holds around 71% market value share in 2021 globally. Segment growth is primarily attributed to duloxetine HCL being a serotonin-norepinephrine reuptake inhibitor and mainly used to treat patients with diabetes and long-term chronic pain.

Additionally, it also helps restore the brain's normal balance of serotonin and norepinephrine by acting on those chemicals directly.

Why are Hospitals Pharmacies Highly Preferred as a Distribution Channel for Fibromyalgia Antidepressants?

Based on distribution channel, hospital pharmacies are leading with over 46% of market share. As patients are consulted at hospitals in large numbers for fibromyalgia, it is positively driving demand for fibromyalgia antidepressants from hospital pharmacies.

Impact of COVID-19

COVID-19 is anticipated to have short-term negative impact on the market for fibromyalgia antidepressants due to lockdowns and temporary shutdown of economies and industries. Supply and demand were jolted by massive infection spread.

As the coronavirus crisis is expanding, healthcare providers rapidly shifted their practice and purchasing priorities to counter the pandemic. Medical staff and equipment were directed toward curbing the virus and its complications.

As a result, the number of patients visiting clinics for fibromyalgia treatment reduced significantly as this was given second priority. Focus was diverted from other indication and drug development to COVID-19 patient treatment and vaccine development.

Despite this delay caused in supply and manufacturing, stocked up antidepressant drugs were utilized for treatment to get relief from pain and aches. With the lifting of lockdowns, reopening of companies and industries, and revised market strategies, fibromyalgia drug manufacturers are expected to capitalize on the growth opportunities in the market going ahead.

What is the Impact of Market Consolidation on This Space?

Considering consolidation activities in the market, mergers and acquisitions have emerged as a key growth strategy among industry leaders. This trend is quite evident in North America, which is one of the key markets for fibromyalgia drugs.

Such consolidation activities not only strengthen the acquirer’s existing portfolio but also help increase their presence at regional as well as global levels. Also, various research-based/clinical-stage companies have potential drug candidates, which opens up new revenue pockets for existing manufacturers.

Competitive Landscape

Key players are focusing on expansion in emerging regions and new product manufacturing. Strategies of expansion, new product launches, and approvals, agreements, partnerships, collaborations, and developed distribution channels such as online sales by key manufacturers are further strengthening their market presence.

  • In May 2020, the acquisition of Allergan plc by AbbVie enabled AbbVie to strengthen its presence across key therapy areas, including immunology, hematologic oncology, neuroscience, and allergan aesthetics.
  • Similarly, in Jan 2016, Innovative Med Concepts LLC received Fast Track Designation by the U.S. FDA for its potential molecule – IMC-1, for the treatment of fibromyalgia.

Similarly, recent developments related to companies manufacturing fibromyalgia antidepressants have been tracked by the team at Persistence Market Research, which are available in the full report.

Fibromyalgia Antidepressants Industry Report Scope

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

US$ Mn for Value

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East & Africa

Key Countries Covered

  • US
  • Canada
  • Brazil
  • Mexico
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Benelux
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • Thailand
  • Indonesia
  • Malaysia
  • Singapore
  • China
  • Japan
  • South Korea
  • Australia
  • New Zealand
  • Turkey
  • Egypt
  • North Africa
  • South Africa
  • and GCC Countries

Key Market Segments Covered

  • Drug Class
  • Distribution Channel
  • Region

Key Companies Profiled

  • Pfizer, Inc.
  • AbbVie, Inc.
  • Virios Therapeutics, Inc.
  • FSD Pharma
  • TONIX Pharmaceuticals Holdings Corp
  • Aptinyx Inc.

Pricing

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Key Segments Covered in Fibromyalgia Antidepressants Industry Research

By Drug Class

  • Venlafaxine
  • Duloxetine HCL
  • Milnacipran HCL
  • Others

By Distribution Channel

  • Hospital Pharmacies
  • Retail Pharmacies
  • Drug stores
  • Online Sales

FAQs Answered in Market Study

  • How much is the fibromyalgia antidepressants market currently worth?

    The global fibromyalgia antidepressants market is worth US$ 466 Mn, and is set to expand 2.2X over the next ten years.

  • What is the sales forecast for fibromyalgia antidepressants through 2031?

    Sales of fibromyalgia antidepressants are expected to top US$ 1 Bn by 2031, increasing at a CAGR of 8.1%.

  • What was last 5 year’s market CAGR for fibromyalgia antidepressants?

    From 2016-2020, the market for fibromyalgia antidepressants expanded at the rate of 4.8%, owing to growing burden of fibromyalgia and related disorders across the globe.

  • What are the key trends shaping market growth?

    Development of novel therapies to treat fibromyalgia and increasing research/funding grants for fibromyalgia research are some of the key trends being witnessed in this marketplace.

  • Which are the top 5 countries driving demand for fibromyalgia antidepressants?

    The U.S., Japan, China, Canada, and Brazil are expected to drive high demand for fibromyalgia antidepressants.

  • What is the North America market outlook for fibromyalgia antidepressants?

    North America is one of the key markets for fibromyalgia antidepressants. The U.S. is expected to account for over 87% of the North American market by 2031.

  • At what percentage is demand for fibromyalgia antidepressants expected to register growth in Europe?

    Demand of fibromyalgia antidepressants is expected to register a growth rate of 7.3% through 2031.

  • At what percentage is demand for fibromyalgia antidepressants expected to rise in East Asia?

    Demand of fibromyalgia antidepressants is expected to increase at 10.2% CAGR over the next ten years.

  • What are the key market statistics for Korea and Japan?

    The Korea market is offering lucrative growth opportunities and is expected to exhibit growth at 6.4% CAGR, with the Japan market surging at 11% CAGR during the forecast period.

  • Who are the key manufacturers of fibromyalgia antidepressants?

    Pfizer, Inc., AbbVie, Inc., Virios Therapeutics, Inc., FSD Pharma, TONIX Pharmaceuticals Holdings Corp, and Aptinyx Inc Limited are key manufacturers of fibromyalgia antidepressants.

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