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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).

The competitive environment of the 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. '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'

Various factors affect the growth of the fibromyalgia treatment market, primarily due to the increasing prevalence of fibromyalgia worldwide. According to the National Institute of Arthritis and Musculoskeletal and Skin Diseases (NIAMS), about five million people aged 18 and after and have fibromyalgia in the US. It is worth noting that 80 to 90 percent of fibromyalgia patients are mostly women. This sex-specific prevalence highlights the significant impact of fibromyalgia on the female population. Increasing awareness of fibromyalgia and improved diagnostic capabilities are contributing to greater acceptance of the issues worldwide.

Key players in the fibromyalgia treatment market are engaged in innovative therapies aimed at sustaining or consolidating their market. The launch and approval of emerging Fibromyalgia treatments will contribute significantly to the market that has developed during the forecast period. Expect an illustrative example of the article galcanezumab, by Eli Lilly & Co.; and developed, with Phase IV clinical trials currently underway from January 2021 -phase to December 2021, primarily for the treatment of fibromyalgia. This expansion of existing indications exemplifies the commitment of large pharmaceutical companies to meet the complex and evolving needs of patients with fibromyalgia.

North America in the fibromyalgia treatment market posted the highest revenue, at USD 1,253.5 million, and is expected to maintain significant market growth throughout the forecast period. This growth is driven by the high volumes seen in the region which may also lead to widespread and more advanced approved products that can be used to manage the disease.

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Global Fibromyalgia Treatment Market

Product ID: SQMIG35A2821