Fibromyalgia Treatment Market

Global Market Study on Fibromyalgia Treatment: The United States to Hold Bulk of Market Share

Fibromyalgia Treatment Market Segmented By Anti-depressants, Anticonvulsants, Muscle Relaxants, Analgesics by drugs in Hospital Pharmacies, Retail Pharmacies, Drug stores, Online Sales

  • May-2021
  • PMRREP32455
  • 231 Pages
  • Healthcare
  • PPT, PDF, WORD, EXCEL

About the Report

Increasing load of chronic pain because of rheumatic conditions across the world is expected to raise demand for fibromyalgia treatment over the coming years. Fibromyalgia is a complex and common chronic pain disorder that leads to fatigue, musculoskeletal pain, and localized tenderness, influencing individuals physically, mentally, and socially. Road traffic injuries are increasing at a shocking rate across regions, which further leads to increasing occurrences of fibromyalgia.

Psychiatric disorders are progressively prevalent in the event of fibromyalgia, and post-traumatic stress disorders are additionally seen with rising incidence rates. Globally leading companies, in order to maintain their market position, are acquiring companies who are facing a large number of product recalls. On the other hand, favourable reimbursement policies and increasing healthcare expenditure are also some factors driving market growth.

A new report by Persistence Market Research details market trends in 20+ high growth countries, along with the impact the COVID-19 pandemic has had on the healthcare industry in general, and on the demand for fibromyalgia treatment in particular.

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Companies

  • Pfizer, Inc.
  • Eli Lilly and Company
  • AbbVie, Inc.
  • Teva Pharmaceutical Industries Ltd
  • Sanofi
  • GlaxoSmithKline plc.
  • Bayer AG
  • TONIX Pharmaceuticals Holdings Corp
  • Virios Therapeutics, Inc.
  • Aptinyx Inc.

Historical Trends Vs Future Market Outlook

The market is projected to experience rapid development during the forecast years of 2021 to 2031, as the number of surgeries and trauma cases is rising worldwide. As fibromyalgia is related with age, rising population of people aged above 60 years around the world is a factor that will increase the occurrence of fibromyalgia. Moreover, manufacturers are focusing on partnerships, which provides significant opportunities for the growth of companies within the market.

According to Persistence Market Research’s analysis, the global fibromyalgia treatment market is projected to progress at a CAGR of around 7% from 2021 to 2031

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How is Increasing Burden of Fibromyalgia Boosting Market Growth?

Fibromyalgia is a long-term chronic disorder that is characterized by widespread muscular pain, and is often associated with fatigue, sleep disorders, memory, and mood swings. Symptoms of fibromyalgia are often misunderstood for arthritis or joint inflammation; however, the disease does not show any sort of muscle or joint inflammation. Instead, pain and discomfort are observed in soft tissues. Fibromyalgia is caused due to various factors such as chronic back pain, trauma, osteoarthritis, road accidents, and musculoskeletal disorders.

Fibromyalgia affects an estimated 10 million people in the U.S., and has an estimated prevalence of 3%-6% globally. This disorder is diagnosed and often seen across juveniles, men, and women, with it being more prevalent in women, with 75%-90% of the total FM patients (Source: National Fibromyalgia Association (NFA)). Also, in the U.K., estimated prevalence of fibromyalgia is around 5.4%, which is approximately 1 in every 20 people (Source: Versus Arthritis, 2019).

Such high prevalence of the disease is expected to increase demand for better treatment along with effective medications that lower associated pain and tenderness. Thus, demand for improved treatment for fibromyalgia is expected to provide a positive impetus to market growth.

fibromyalgia-treatment-market

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Will Robust Pipeline of Novel Drugs Under Late Clinical Trials Benefit Treatment of Fibromyalgia?

Given the current landscape of the growing burden of fibromyalgia cases, globally, there are very lesser therapies approved for the same. Thus, to cater to the larger patient pool, various leading industry players are engaged in the research & development of new drugs, resulting in positive results, gaining a nod for moving the drugs from early stages into advanced phases of trial.

For instance, there are various potential drug candidates such as ICM 1 (Viros Therapeutics), NYX-2925 (Aptinyx), DS-5565 (Daichi Sankyo), and TD-9855 (Theravance Biopharma) that are in phase 2/phase 3 stages of clinical trials.

Thus, availability of treatment options with commercialization potential is expected to augment the growth of the global fibromyalgia treatment industry over the coming years. Also, such developments will enable leading players to strengthen their existing portfolios and expand their presence across the world.

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Will  Need for Lower Cost Treatment Alternatives Lead to Development of the Market?

Treatment cost with branded drug is significantly higher, and it is expected to remain higher when compared with generic drugs or other off-label drugs. These higher costs will drive demand for generic versions of products.

Some of the blockbuster fibromyalgia drugs such as Lyrica, Savella, and Cymbalta have already or are expected to witness patent expiration, leading to the development of generic products within the time frame of 2021-2031. Generic versions of these drugs are likely to see lucrative growth in low-income economies or in economies where these products are limited or not available.

Country-wise Insights

Will the U.S. Offer Lucrative Opportunities to Market Players?

The medical services system of the U.S. is well eminent for its high level expenditure and infrastructure. The care system of hospitals and care centers are abode by administrative principles and insurance strategies. The United States holds the largest share in the global market attributable to increasing cases of chronic rheumatic diseases, rising awareness among people, and growing healthcare expenditure.

According to a 2017 report proposed by the Centers for Disease Control and Prevention (CDC), around 54.4 million people in the United States are affected with arthritis, which is around 25% of the population. It is estimated that, by 2040, almost 78 million people over 18 years or more are expected to suffer from arthritis in the United States.

Why is Demand for Fibromyalgia Treatment Increasing across the U.K.?

The U.K. healthcare system possesses a well-developed infrastructure, largely supported by the government. It is perhaps the best healthcare system in the world. It is not surprising that the U.K. has the most elevated level of expenditure in Europe. The U.K. is recognized as a main market, and the position is probably going to remain the same through the forecast years.

Moreover, rising research activities, presence of several major players, and increasing pipeline drugs are offering several opportunities for market players across the country.

Why is China Dominating the Market for Fibromyalgia Treatment in APAC?

China is projected to observe strong development over the estimated timeframe, which can principally be owed to increasing per capita spending of people in the country. Developing private bodies for research and amendments and increasing reimbursement policies in healthcare and financial support provided by governments are major reasons expected to proper demand for fibromyalgia Treatment over the coming years.

The more the elder population the more is the occurrence of chronic diseases, which increases the need for rapid treatment, thus raising demand for fibromyalgia treatment.

Category-wise Insights

What’s the Market Share of Anticonvulsants?

Anticonvulsants will continue accounting for maximum share among the products through the forecast period. According to Persistence Market Research, the segment held slightly more than half of the market share in 2020.

Anticonvulsants for fibromyalgia are used to ease neuropathic pain and also used as an adjunctive medication for disturbed sleep and anxiety. Lyrica (Pregabalin) and Neurontin (Gabapentin) are two most commonly prescribed anticonvulsants for fibromyalgia.

Why Do Hospital Pharmacies Hold High Market Share for Fibromyalgia Treatment?

The hospital pharmacies segment is expected to contribute maximum revenue share through 2031. Currently, the segment accounts for around 32% share in the market.

Utilization of recommended therapy in clinics and hospitals overseeing a prescribed drug conveyance by a doctor is one of the major factors driving sales at hospital pharmacies.

Competitive Landscape

Companies operating in the market are aiming at strategic collaborations and acquisitions with other manufacturers to expand their product manufacturing and address the demand of an expanding patient pool.

  • For instance, in May 2020, AbbVie, acquired Allergan plc, which helped the company broaden its existing portfolio and strengthen its presence in the global biopharmaceutical sector.
  • In December 2018, GSK entered into agreement with Pfizer Inc. to form a new company that will be focused on offering consumer healthcare products.

Manufacturers are also focusing on the expansion of their product portfolios by launching new technologically advanced products and by receiving approval from different government bodies.

  • For instance, in September 2018, EpiGenetics announced the U.S. FDA approval to use its generic BCG vaccine for human clinical trials for fibromyalgia, which are being conducted at the Massachusetts General Hospital.

Some of the leading companies operating in the market are:

  • Pfizer, Inc.
  • Eli Lilly and Company
  • AbbVie, Inc.
  • Teva Pharmaceutical Industries Ltd
  • TONIX Pharmaceuticals Holdings Corp
  • Virios Therapeutics, Inc.
  • Aptinyx Inc.
  • Johnson & Johnson Services, Inc
  • Sanofi
  • GlaxoSmithKline plc.
  • Bayer AG
  • FSD Pharma

*The list is not exhaustive, and only for representational purposes. Full competitive intelligence with SWOT analysis available in the report.

Scope of Report

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

USD Million for Value

Key Regions Covered

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

Key Countries Covered

  • US
  • Canada
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • Thailand
  • Malaysia
  • Indonesia
  • Australia
  • New Zealand
  • GCC Countries
  • Turkey
  • Northern Africa
  • South Africa

Key Segments Covered

  • Drug Class
  • Distribution Channel
  • Region

Key Companies Profiled

  • Pfizer, Inc.
  • Eli Lilly and Company
  • AbbVie, Inc.
  • Teva Pharmaceutical Industries Ltd
  • TONIX Pharmaceuticals Holdings Corp
  • Virios Therapeutics, Inc.
  • Aptinyx Inc.
  • Johnson & Johnson Services, Inc
  • Sanofi
  • GlaxoSmithKline plc.
  • Bayer AG
  • FSD Pharma

Report Coverage

  • Market Forecast
  • Company Share Analysis
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives

Customization & Pricing

Available upon Request

Market Segmentation by Category

By Drug Class

  • Anti-depressants
    • Venlafaxine
    • Duloxetine
    • Milnacipran HCL
    • Others
  • Anticonvulsants
    • Pregabalin
    • Gabapentin
  • Muscle Relaxants
  • Analgesics

By Distribution Channel

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

By Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East and Africa (MEA)

Key Questions Answered in Report

  • Which is the most lucrative market for fibromyalgia treatment?

    The U.S. currently leads the global market. Sales in the U.S will be more than 40% of global sales over the forecast period.

  • Which is the most preferred product for fibromyalgia treatment?

    Anticonvulsants are highly sought-after in the market. Demand for anticonvulsants is expected to remain high in the near future, especially as they help relieve pain and treat it for a long term.

  • Which distribution channel accounts maximum sales?

    Hospital pharmacies continue to remain the leading sales channel for fibromyalgia drugs.

  • Which are some of the leading companies offering fibromyalgia treatment?

    Some of the leading companies in this market are Sanofi S.A., Pfizer Inc., Johnson & Johnson, AbbVie Inc., Eli Lilly & Company, Johnson & Johnson Services, Inc, Sanofi, GlaxoSmithKline plc., and others.

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  • Is this research conducted by Persistence Market Research?

    Yes, the research has been conducted by expert analysts of Persistent Market Research, through a combination of primary research and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

  • What research methodology is followed by Persistence Market Research?

    Persistence Market Research follows a methodology that encompasses the demand-side assessment of the market and triangulates the same through supply-side analysis. This methodology is based on the use of standard market structure, methods and definitions.Request a detailed methodology.

  • Who are the respondents for primary research?

    Persistence Market Research speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.

  • What are the sources of secondary research?

    Persistence Market Research conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.

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