Number of pages: 100 | Report Format: PDF | Published date: January 27, 2023
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
Report Attribute |
Details |
Market Size Value in 2021 |
US$ 15.72 billion |
Revenue Forecast in 2030 |
US$ 24.24 billion |
CAGR |
4.9% |
Base Year for Estimation |
2021 |
Forecast Period |
2022-2030 |
Historical Year |
2020 |
Segments Covered |
Drug Class, Distribution Channel, and Region |
Regional Scope |
North America, Europe, Asia Pacific, and the Rest of the World (RoW) |
According to the deep-dive market assessment study by Growth Plus Reports, the global fibromyalgia treatment market was valued at US$ 15.72 billion in 2021 and is expected to register a CAGR of 4.9% to reach US$ 24.24 billion by 2030.
Fibromyalgia Treatment Market Fundamentals
Fibromyalgia, commonly known as fibromyalgia syndrome, is a persistent neurologic disorder that produces extensive discomfort. The disease has no established cause; nevertheless, it can be caused due to various factors, such as genetic causes, physical or mental damage, or infections. Some of the fibromyalgia symptoms include extensive pain, extreme exhaustion, sleep issues, and cognitive impairments. Even though most of the diagnosed fibromyalgia population receives prescription medication therapy, the majority of present treatments are ineffective. Patients have insufficient pain relief, highlighting the need for improved treatment of fibromyalgia secondary symptoms. A physical examination can help discover discomfort and rule out other causes of muscular pain. This condition has no diagnostic tests, such as X-rays or blood testing.
Fibromyalgia patients should try non-drug therapy in addition to any medications prescribed by their doctors. Studies have shown physical activity to be the most effective therapy for fibromyalgia. Exercise should be done in conjunction with any pharmacological treatment. Regular aerobic activities assist patients the best. Other body-based therapies, such as Tai Chi and yoga, can help to alleviate fibromyalgia symptoms. Some sort of trigger usually causes fibromyalgia. It can be back pain, arthritis, injury, or physical stress. Emotional stress may also precipitate this sickness. As a result, how the body "talks" to the spinal cord and brain changes. The U.S. Food and Drug Administration (FDA) has authorized three medications to treat fibromyalgia.
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Fibromyalgia Treatment Market Dynamics
The rising number of trauma cases and surgeries is the major factor driving the fibromyalgia treatment market. As fibromyalgia is associated with age, the increase in the geriatric population can eventually result in the revenue growth of the fibromyalgia treatment market. For instance, according to WHO, in 2030, 1 in 6 people worldwide are expected to be aged 60 years or above. The share of the population aged 60 years and over is likely to increase from 1 billion in 2020 to 1.4 billion in 2030. Additionally, rising road accidents are projected to boost revenue growth opportunities in the global market. Moreover, increase in focus of leading players on R&D activities to develop new theories for the treatment of fibromyalgia and rise in the number of product approvals and launches are expected to drive the market revenue growth in the next few years.
However, patent expiration and side effects caused due to drugs are likely to impede the global fibromyalgia treatment market revenue growth during the forecast period.
Fibromyalgia Treatment Market Ecosystem
The global fibromyalgia treatment market has been analyzed from three perspectives: drug class, distribution channel, and region.
Fibromyalgia Treatment Market by Drug Class
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Based on the drug class, the global fibromyalgia treatment market is segmented into antidepressants, antiepileptics, muscle relaxants, and others.
The antiepileptics segment accounted for the largest market revenue share in 2021, owing to the rising usage of antiepileptics in fibromyalgia treatment. While antiepileptics medication, such as pregabalin, is commonly utilized to treat epilepsy, it has also been found to be effective in managing the symptoms of fibromyalgia. Pregabalin has been approved by the FDA as a treatment option for fibromyalgia, as it inhibits the release of certain neurotransmitters that contribute to pain.
The antidepressants segment accounts for the second-largest market revenue share. This drug class can help in treating social anxiety disorder and seasonal affective disorder. To a certain extent, antidepressants are helpful in the treatment of fibromyalgia. Amitriptyline, a tricyclic antidepressant (TCA), is a popular therapy choice. These factors are expected to propel the overall segment growth.
Fibromyalgia Treatment Market by Distribution Channel
Based on the distribution channel, the global fibromyalgia treatment market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies.
The retail pharmacies segment dominated the market with the largest market share in 2021 owing to the availability of over-the-counter medicines for treating fibromyalgia. Drugs, such as acetaminophen, and NSAIDs, such as aspirin, ibuprofen, and naproxen, are some of the over-the-counter medicines available for treating fibromyalgia. In most cases, fibromyalgia treatment does not require hospitalizations, thus attributing a higher market revenue share to the retail pharmacies segment.
The hospital pharmacies segment accounted for the second-largest market revenue share in 2021. This can be attributed to the availability of well-qualified medical staff in hospitals, which are required for the treatment of severe fibromyalgia.
Fibromyalgia Treatment Market by Region
Based on the region, the global fibromyalgia treatment market is segmented into North America, Europe, Asia Pacific, and the Rest of the World.
North America dominated the global fibromyalgia treatment market revenue share in 2021, owing to the presence of advanced technologies, major international companies, a large geriatric population, and the rising prevalence of trauma cases and surgeries. Various research organizations and corporations are increasing R&D activities to produce new therapies and novel medications. For instance, in December 2022, Tonix Pharmaceuticals Holding Corp., a clinical-stage biopharmaceutical firm, confirmed the first 50% of participants in the Phase 3 RESILIENT trial of TNX-102 SL (cyclobenzaprine HCl sublingual tablets) 5.6 mg for the treatment of fibromyalgia had been randomized. An interim review of the first 50% of randomized participants by an Independent Data Monitoring Committee (IDMC) for a potential sample size modification or early discontinuation for futility is scheduled in the second quarter of 2023.
The market in Asia Pacific is expected to be the fastest-growing region for fibromyalgia therapy, due to an increase in traffic accidents. According to a report by the Government of India Ministry of Road Transport & Highways' Road Accidents in India, about 4,12,432 road accidents were recorded by States and Union Territories during the calendar year 2021, claiming 1,53,972 deaths and injuring 3,84,448 people. The average number of traffic accidents increased by 12.6% in 2021, as compared to the previous year, 2020.
Fibromyalgia Treatment Market Competitive Landscape
The prominent players operating in the global fibromyalgia treatment market are:
Fibromyalgia Treatment Market Strategic Developments
The fibromyalgia treatment market is expected to be valued at US$ 24.24 billion in 2030.
The fibromyalgia treatment market is expected to register a revenue CAGR of 4.9% during the forecast period from 2022 to 2030.
Patent expiration and side effects caused due to drugs are some factors restricting the global market revenue growth.
The rising prevalence of trauma cases and surgeries, increasing older population, technological advancements, and continuous R&D activities by research institutes are driving the market revenue growth.
Pfizer, Inc., Novartis AG, GlaxoSmithKline plc., Bayer AG, and Teva Pharmaceutical Industries Ltd are among the prominent players in the global market.
*Insights on financial performance are subject to availability of information in the public domain