USD 1.3 billion
Fibromyalgia Treatment Market Size, Share, Growth Analysis, By Drug class(Antidepressants, Antiepileptic, Muscle relaxants, Others), By Distribution Channels(Hospital pharmacies, Retail pharmacies, 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.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Antiepileptic
Fastest Growth
Antiepileptic
Growth Rate
7.00% CAGR
Global Fibromyalgia Treatment Market ($ Bn)
Country Share for North America Region (%)
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Fibromyalgia Treatment Market Segmental Analysis
Global Fibromyalgia Treatment Market is segmented based on drug class, distribution channels, and region. Based on drug class, the market is segmented into antidepressants, antiepileptic, muscle relaxants, and others. Based on distribution channels, the market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Analysis by Distribution Channels
The accessibility of fibromyalgia drugs through retail and hospital pharmacies is anticipated to be a key driver for the growth of this segment in the forecast period. The convenience and widespread availability of these medications in retail and hospital settings contribute to the ease with which patients can procure their prescribed treatments. Furthermore, the nature of fibromyalgia treatment, which typically does not necessitate hospitalizations, attributes a higher market share to retail pharmacies. Patients often prefer the convenience of obtaining their medications from retail outlets, reinforcing the dominance of this segment.
The online pharmacies segment plays a pivotal role in the fibromyalgia treatment market by providing a convenient and accessible avenue for patients to acquire their prescribed medications. This segment has gained significance as part of the evolving healthcare landscape, offering a digital platform for individuals dealing with fibromyalgia to purchase their necessary treatments from the comfort of their homes. Online pharmacies contribute to the market by facilitating seamless transactions, providing information about fibromyalgia medications, and ensuring timely delivery of prescriptions.
Analysis by Drug Class
The antiepileptic segment emerged as the market leader, driven by the substantial revenue generated by Pfizer's Lyrica, positioning it as a dominant force in fibromyalgia treatment. Lyrica, classified as an antiepileptic drug, has gained widespread adoption for managing fibromyalgia within the population, contributing significantly to the segment's growth and overall market dominance.
The muscle relaxants segment secured the second-largest share. Although anticipated to exhibit slower growth, this segment's position is influenced by potential product launches from pipeline products entering the market. Despite the expected deceleration, muscle relaxants find considerable adoption in developing regions like Latin America, the Middle East, and Africa. This geographic uptake emphasizes the global utilization of muscle relaxants in fibromyalgia treatment, highlighting the diverse market dynamics and the significance of regional preferences in shaping the overall landscape of fibromyalgia pharmaceuticals.
Global Fibromyalgia Treatment Market By Drug Class
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Fibromyalgia Treatment Market Regional Insights
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.
The Asia-Pacific is expected to demonstrate stable growth throughout the forecast period, driven by several factors contributing to the evolving landscape of fibromyalgia treatment in the region. The increasing patient population grappling with fibromyalgia, coupled with a simultaneous rise in healthcare expenditure and the development of healthcare infrastructure, is anticipated to create a favorable environment for market growth in Asia-Pacific.
Global Fibromyalgia Treatment Market By Region
- Largest
- Fastest
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Fibromyalgia Treatment Market Dynamics
Drivers
Increasing Prevalence of Fibromyalgia
-
The growth of the global fibromyalgia treatment market is influenced by various factors, with the predominant driver being the escalating prevalence of fibromyalgia worldwide. According to the National Institute of Arthritis and Musculoskeletal and Skin Diseases (NIAMS), an estimated five million individuals aged 18 years and older in the United States suffer from fibromyalgia. Notably, the majority of fibromyalgia patients, ranging from 80 to 90 percent, are females. This gender-specific prevalence underscores the significant impact of fibromyalgia on the female population. The increasing awareness of fibromyalgia and improvements in diagnostic capabilities contribute to the growing identification of cases globally.
Restraints
Higher adoption of Off-label and Generic Drugs
-
The limited availability of drugs specifically approved for the treatment of fibromyalgia, currently standing at only three, has resulted in a higher reliance on off-label medications and generic antidepressants for managing the indications of the disease. Furthermore, the loss of patent protection rights for Lyrica, a key medication in fibromyalgia treatment, by Pfizer in June 2019 has had a notable impact on the drug's market revenue. With the expiration of patent protection, generic versions of Lyrica have entered the market, leading to increased competition and subsequently affecting the overall market growth.
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Fibromyalgia Treatment Market Competitive Landscape
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.
Top Player’s Company Profiles
- 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
Recent Developments
- In December 2020, Tonix Pharmaceuticals disclosed encouraging results from a Phase III study evaluating TNX-102 for the treatment of fibromyalgia. The positive results are a significant milestone for Tonix Pharmaceutical, and demonstrate the potential efficacy of TNX-102 in managing the severe complications associated with fibromyalgia. This achievement demonstrates the company’s determination to enhance treatment options for individuals affected by this chronic pain.
- In June 2020, Teva Pharmaceutical Industries Ltd. will post a $1.2 billion market cap. announced updated data from the AJOVY injection open-label study. The study focused on evaluating the efficacy of AJOVY in both migraine and fibromyalgia. This initiative by Teva Pharmaceutical reflects the pharmaceutical industry’s commitment to finding multiple uses for existing drugs and underscores its ongoing efforts to provide comprehensive therapeutic solutions for conditions such as fibromyalgia.
Fibromyalgia Treatment Key Market Trends
- 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.
Fibromyalgia Treatment Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research. Pharmaceutical companies are intensifying their commitment to research and development endeavors aimed at creating novel treatments for fibromyalgia. This strategic emphasis on advancing therapeutic options is anticipated to propel the growth of the fibromyalgia treatment market in the foreseeable future. The increasing investment in research signifies a recognition within the pharmaceutical industry of the unmet medical needs and complexities associated with fibromyalgia. By dedicating resources to explore innovative treatment modalities, pharmaceutical companies aim to address the unique challenges posed by this chronic pain disorder, ultimately improving patient outcomes.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 1.3 billion |
| Market size value in 2031 | USD 2.39 billion |
| Growth Rate | 7.00% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Fibromyalgia Treatment Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Fibromyalgia Treatment Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Fibromyalgia Treatment Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Fibromyalgia Treatment Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Fibromyalgia Treatment Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Fibromyalgia Treatment Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Fibromyalgia Treatment Market Report Snapshots
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