The fibromyalgia treatment market valued for $3.1 billion in 2022 and is estimated to reach $4.6 billion by 2032, exhibiting a CAGR of 4.0% from 2023 to 2032.
Fibromyalgia is a chronic disorder characterized by widespread musculoskeletal pain, fatigue, and tenderness in various parts of the body. It is considered as a complex condition because its exact cause is not well understood, and there is no definitive diagnostic test for fibromyalgia. The primary symptom of fibromyalgia is chronic pain that affects body parts such as muscles, joints, and soft tissues. The pain may be described as a dull ache, a burning sensation, or a deep muscular soreness. It is often accompanied by other symptoms such as fatigue, sleep disturbances, cognitive difficulties, mood disorders, and heightened sensitivity to touch. People with fibromyalgia may experience pain more intensely or feel pain in response to stimuli that would not typically cause pain or discomfort in others.
It involves a complex interaction between the central nervous system, neurotransmitters, and the way pain signals are processed in the brain. Diagnosing fibromyalgia can be challenging as there are no specific laboratory tests or imaging studies that can definitively confirm the condition. Treatment for fibromyalgia focuses on managing symptoms and improving quality of life by using medications to alleviate the symptoms along with improving sleep and maintaining a healthy diet and exercise.
The growth of the global fibromyalgia treatment market is majorly driven by alarming rise in prevalence of fibromyalgia. According to the National Fibromyalgia Association (2023), fibromyalgia affects an estimated 10 million people in the U.S. and is mostly seen among women, with a prevalence of 75-90%. Moreover, fibromyalgia is more commonly diagnosed in middle-aged and older individuals. As the global population continues to age, the number of people at risk for developing fibromyalgia Increases, leading to a larger patient pool requiring treatment. Thus, rise in prevalence of fibromyalgia boosts the demand for effective treatment medications, which, in turn, propels the growth of the market.
In addition, surge in awareness regarding fibromyalgia and its diagnosis and treatment among the people in developed countries acts as a major driver of the global market. Improved diagnosis and awareness have played a significant role in the identification and treatment of fibromyalgia. In the past, fibromyalgia was often misunderstood or misdiagnosed, leading to delayed or ineffective treatment for many individuals.
Moreover, in past few years, healthcare professionals and the general population have Increasingly acknowledged and gained a better understanding of fibromyalgia condition. For instance, diagnostic criteria for fibromyalgia have evolved and become more refined. The American College of Rheumatology (ACR) has established updated diagnostic criteria, along with other assessment tools, which have helped healthcare professionals more accurately diagnose fibromyalgia. This will further significantly contribute to the growth of the fibromyalgia treatment market.
However, in addition to conventional medical approaches, certain individuals with fibromyalgia may explore alternative treatment options to help manage their symptoms. For instance, acupuncture and other therapies may be involved which hinder the market growth to some extent.
In addition, lack of knowledge and awareness about fibromyalgia in underdeveloped countries may have a negative impact on the growth of the market. In underdeveloped countries, there may be limited healthcare infrastructure, fewer trained healthcare professionals, and lack of specialized clinics or resources dedicated to chronic pain conditions such as fibromyalgia. This contribute to lack of awareness among both healthcare providers and the general population, which acts as a key deterrent factor of the global market.
On the contrary, a robust pipeline of products for fibromyalgia treatment presents an encouraging outlook for both patients and key players in the market. The development of new medications specifically targeting fibromyalgia holds the potential to address the unmet needs of patients and improve their quality of life. Continuous research and development efforts by pharmaceutical companies, researchers, and healthcare professionals demonstrate a commitment to finding more effective and safer treatment options for fibromyalgia. This Includes exploring novel therapeutic approaches and investigating potential targeted therapies. Such strategies adopted by key players are anticipated to boost market growth during the forecast period.
In addition, emerging countries in Asia-Pacific and LAMEA present lucrative opportunities for key players looking to invest in the fibromyalgia treatment market. This is attributed to the fact that these regions are characterized by the presence of a large population base with notable economic growth and Increase in healthcare expenditure. In addition, an alarming rise in prevalence of fibromyalgia in these regions along with rise in awareness about the condition is anticipated to drive the market growth.
The global fibromyalgia treatment market is segmented into drug class, distribution channel, and region. Depending on drug class, the market is categorized into antidepressants, anticonvulsants, muscle relaxants, and others. Based on distribution channel, it is segregated into hospital pharmacies, drug stores & retail pharmacies, and online providers. Region wise, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Major players that operate in the market Include Abbott Laboratories Abbvie Inc., Amneal Pharmaceuticals LLC, Eli Lilly and Company, Lupin, Novartis AG, Sun Pharmaceutical Industries Ltd., Teva Pharmaceutical Industries Limited, Viatris Inc., and Zydus Lifesciences Limited.
Fibromyalgia is a chronic disorder characterized by widespread musculoskeletal pain, fatigue, and tenderness in various parts of the body. It is considered as a complex condition because its exact cause is not well understood, and there is no definitive diagnostic test for fibromyalgia. The primary symptom of fibromyalgia is chronic pain that affects body parts such as muscles, joints, and soft tissues. The pain may be described as a dull ache, a burning sensation, or a deep muscular soreness. It is often accompanied by other symptoms such as fatigue, sleep disturbances, cognitive difficulties, mood disorders, and heightened sensitivity to touch. People with fibromyalgia may experience pain more intensely or feel pain in response to stimuli that would not typically cause pain or discomfort in others.
It involves a complex interaction between the central nervous system, neurotransmitters, and the way pain signals are processed in the brain. Diagnosing fibromyalgia can be challenging as there are no specific laboratory tests or imaging studies that can definitively confirm the condition. Treatment for fibromyalgia focuses on managing symptoms and improving quality of life by using medications to alleviate the symptoms along with improving sleep and maintaining a healthy diet and exercise.
The growth of the global fibromyalgia treatment market is majorly driven by alarming rise in prevalence of fibromyalgia. According to the National Fibromyalgia Association (2023), fibromyalgia affects an estimated 10 million people in the U.S. and is mostly seen among women, with a prevalence of 75-90%. Moreover, fibromyalgia is more commonly diagnosed in middle-aged and older individuals. As the global population continues to age, the number of people at risk for developing fibromyalgia Increases, leading to a larger patient pool requiring treatment. Thus, rise in prevalence of fibromyalgia boosts the demand for effective treatment medications, which, in turn, propels the growth of the market.
In addition, surge in awareness regarding fibromyalgia and its diagnosis and treatment among the people in developed countries acts as a major driver of the global market. Improved diagnosis and awareness have played a significant role in the identification and treatment of fibromyalgia. In the past, fibromyalgia was often misunderstood or misdiagnosed, leading to delayed or ineffective treatment for many individuals.
Moreover, in past few years, healthcare professionals and the general population have Increasingly acknowledged and gained a better understanding of fibromyalgia condition. For instance, diagnostic criteria for fibromyalgia have evolved and become more refined. The American College of Rheumatology (ACR) has established updated diagnostic criteria, along with other assessment tools, which have helped healthcare professionals more accurately diagnose fibromyalgia. This will further significantly contribute to the growth of the fibromyalgia treatment market.
However, in addition to conventional medical approaches, certain individuals with fibromyalgia may explore alternative treatment options to help manage their symptoms. For instance, acupuncture and other therapies may be involved which hinder the market growth to some extent.
In addition, lack of knowledge and awareness about fibromyalgia in underdeveloped countries may have a negative impact on the growth of the market. In underdeveloped countries, there may be limited healthcare infrastructure, fewer trained healthcare professionals, and lack of specialized clinics or resources dedicated to chronic pain conditions such as fibromyalgia. This contribute to lack of awareness among both healthcare providers and the general population, which acts as a key deterrent factor of the global market.
On the contrary, a robust pipeline of products for fibromyalgia treatment presents an encouraging outlook for both patients and key players in the market. The development of new medications specifically targeting fibromyalgia holds the potential to address the unmet needs of patients and improve their quality of life. Continuous research and development efforts by pharmaceutical companies, researchers, and healthcare professionals demonstrate a commitment to finding more effective and safer treatment options for fibromyalgia. This Includes exploring novel therapeutic approaches and investigating potential targeted therapies. Such strategies adopted by key players are anticipated to boost market growth during the forecast period.
In addition, emerging countries in Asia-Pacific and LAMEA present lucrative opportunities for key players looking to invest in the fibromyalgia treatment market. This is attributed to the fact that these regions are characterized by the presence of a large population base with notable economic growth and Increase in healthcare expenditure. In addition, an alarming rise in prevalence of fibromyalgia in these regions along with rise in awareness about the condition is anticipated to drive the market growth.
The global fibromyalgia treatment market is segmented into drug class, distribution channel, and region. Depending on drug class, the market is categorized into antidepressants, anticonvulsants, muscle relaxants, and others. Based on distribution channel, it is segregated into hospital pharmacies, drug stores & retail pharmacies, and online providers. Region wise, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Major players that operate in the market Include Abbott Laboratories Abbvie Inc., Amneal Pharmaceuticals LLC, Eli Lilly and Company, Lupin, Novartis AG, Sun Pharmaceutical Industries Ltd., Teva Pharmaceutical Industries Limited, Viatris Inc., and Zydus Lifesciences Limited.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the fibromyalgia treatment market analysis from 2022 to 2032 to identify the prevailing fibromyalgia treatment market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the fibromyalgia treatment market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report Includes the analysis of the regional as well as global fibromyalgia treatment market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Drug Class
- Antidepressants
- Anticonvulsants
- Muscle Relaxants
- Others
By Distribution Channel
- Hospital pharmacies
- Drug stores and retail pharmacies
- Online providers
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Abbott Laboratories
- Teva Pharmaceutical Industries Ltd.
- AbbVie Inc.
- Amneal Pharmaceuticals LLC
- Zydus Lifesciences Limited
- Sun Pharmaceutical Industries Limited
- Eli Lilly and Company
- Novartis AG
- Viatris Inc.
- Lupin Limited.
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: FIBROMYALGIA TREATMENT MARKET, BY DRUG CLASS
CHAPTER 5: FIBROMYALGIA TREATMENT MARKET, BY DISTRIBUTION CHANNEL
CHAPTER 6: FIBROMYALGIA TREATMENT MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
The fibromyalgia treatment market is likely to experience a significant growth rate of 4.0% from 2023-2032 owing to increasing market demand from pharmaceutical sector.Fibromyalgia is a condition characterized by widespread musculoskeletal pain, along with symptoms such as fatigue, sleep disturbances, memory problems, and mood issues. A person with fibromyalgia experiences more pain due to disruption in the processing of both painful and non-painful signals in the brain and spinal cord. Symptoms of fibromyalgia include widespread pain, fatigue, and cognitive difficulties. Treatment options may include the use of medications, which are approved for fibromyalgia along with some off-label medications for alleviating the related symptoms.
Key factors driving the growth of the fibromyalgia treatment market include the significant prevalence of fibromyalgia among the population, surge in awareness regarding fibromyalgia and its treatment and enhanced access to generic medications for fibromyalgia treatment.
One of the major drivers for the fibromyalgia market is the rising awareness among the population regarding fibromyalgia and subsequent increase in diagnosis rate and treatment of fibromyalgia. In the past, fibromyalgia was often underdiagnosed or misdiagnosed due to a lack of understanding about the condition. However, over the years, there has been an increased focus on raising awareness about fibromyalgia, its symptoms, and available treatment options. This has led to improved recognition and diagnosis rates for the condition.
Furthermore, as awareness has grown, more individuals experiencing symptoms related to fibromyalgia are seeking medical help and getting accurately diagnosed. This has resulted in an increase in the demand for fibromyalgia treatments and thus propelled the growth of the fibromyalgia treatment market.
In addition, improved access to generic medications for fibromyalgia treatment has several positive effects on the market growth. Generic medications are usually priced lower than brand-name drugs. This makes them more affordable for patients, especially those without comprehensive health insurance coverage or limited financial resources. Increased affordability encouraged more individuals to seek treatment for fibromyalgia, thereby driving market growth. Also, the availability of generic medications created competition in the market. This can lead to price reductions and cost savings for both patients and healthcare systems. Moreover, competition also encourages innovation and the development of new treatment options, further expanding the market growth.
On the other hand, the presence of a substantial number of drugs in the pipeline offers growth opportunities for key players in the fibromyalgia treatment market. The development of new drugs and therapies specifically designed to target fibromyalgia symptoms and improve patient outcomes can drive the market growth in the coming years. Introduction of new drugs in the market expands the range of treatment options available for fibromyalgia patients. This provides healthcare providers with more choices to tailor treatment plans according to individual patient needs, preferences, and responses. It can lead to improved patient satisfaction and outcomes, thereby driving market growth.
The global fibromyalgia treatment market is segmented into drug class, distribution channel, and region. Depending on drug class, the market is categorized into antidepressants, anticonvulsants, muscle relaxants, and others. Based on distribution channel, it is segregated into hospital pharmacies, drug stores & retail pharmacies, and online providers. Region wise, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
The key players profiled in the study include Abbott Laboratories, Abbvie Inc, Amneal Pharmaceuticals LLC, Eli Lilly and Company, Lupin, Novartis AG, Sun Pharmaceutical Industries Ltd., Teva Pharmaceutical Industries Limited, Viatris Inc., and Zydus Lifesciences Limited. Other players in the market include MSN Laboratories Ltd, Rising Pharmaceuticals, Sciengen Pharmaceuticals, Actavis Elizabeth, Apotex and others.
The players in the market have been actively engaged in the adoption of various strategies such as agreement, partnership, product approval, acquisition and spin off to remain competitive and gain an advantage over the competitors in the market. For instance, in may 2022, Lupin received approval from the U.S. Food and Drug Administration (FDA) for its Abbreviated New Drug Application (ANDA), Pregabalin Capsules, 25 mg, 50 mg, 75 mg, 100 mg, 150 mg, 200 mg, 225 mg, and 300 mg to market a generic equivalent of Lyrica Capsules, and will be manufactured at Lupin's facility in Aurangabad, India.
Key Market Insights
- By drug class, the anticonvulsants segment was the highest revenue contributor to the market and is estimated to reach $2.6 billion by 2032, with a CAGR of 3.6%. However, the antidepressants segment is estimated to be the fastest-growing segment with the highest CAGR during the forecast period.
- Based on distribution channel, the drug stores and retail pharmacies segment was the highest revenue contributor to the market in 2022 and the online providers segment is anticipated to grow with a highest CAGR during the forecast period.
- Based on region, North America garnered the largest revenue share in 2022, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.
Companies Mentioned
- Abbott Laboratories
- Teva Pharmaceutical Industries Ltd.
- AbbVie Inc.
- Amneal Pharmaceuticals LLC
- Zydus Lifesciences Limited
- Sun Pharmaceutical Industries Limited
- Eli Lilly and Company
- Novartis AG
- Viatris Inc.
- Lupin Limited.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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