Fibromyalgia Treatment Market to grow with a CAGR of 3.90%
Increasing
healthcare infrastructure and a supportive regulatory environment are the major
drivers for the Global Fibromyalgia Treatment Market.
According
to TechSci Research report, “Global Fibromyalgia Treatment Market Industry
Size, Share, Trends, Competition, Opportunity and Forecast, 2018-2028”, Global Fibromyalgia Treatment
Market has valued at USD 2.98 billion in 2022 and is anticipated to witness an
impressive growth in the forecast period with a CAGR of 3.90% through 2028. This can be due to collaborations and
partnerships among leading companies with a diverse approach to merge the
expertise of individual companies and to strengthen their position in the
market.
The
aging population does contribute to the demand for the Global Fibromyalgia
Treatment Market. Fibromyalgia is more commonly diagnosed in middle-aged and
older adults. As the global population continues to age, the prevalence of
fibromyalgia is expected to rise. A larger population of older individuals
leads to an increased pool of potential fibromyalgia patients. While
fibromyalgia can affect individuals of any age, the risk of developing the
condition tends to increase with age. Older adults are more likely to
experience musculoskeletal pain and other symptoms associated with
fibromyalgia. Older adults often have complex healthcare needs, including the
management of chronic pain conditions like fibromyalgia. The demand for
effective treatment options becomes more pressing as individuals age and
experience age-related health issues in addition to fibromyalgia. Fibromyalgia
can significantly impact an individual's quality of life, making daily
activities and mobility more challenging. Older adults may seek treatment to
maintain or improve their overall well-being and independence. Aging is often
accompanied by the development of other chronic health conditions. Fibromyalgia
frequently coexists with conditions such as osteoarthritis, rheumatoid
arthritis, and cardiovascular diseases. Managing fibromyalgia alongside these
comorbidities increases the demand for comprehensive treatment options. Older
individuals with fibromyalgia may have complex medical profiles requiring a
multidisciplinary approach to care. This approach includes not only
fibromyalgia treatment but also the management of other age-related health
issues.
Fibromyalgia,
also known as fibromyalgia syndrome, is a chronic neurological disorder
characterized by widespread pain throughout the body. While the exact cause of fibromyalgia
remains unknown, it is believed to result from a combination of factors,
including genetic predisposition, physical or emotional trauma, and infections.
Common symptoms associated with fibromyalgia include extensive pain, extreme
fatigue, sleep disturbances, cognitive challenges, among others. Treatment
options for fibromyalgia management typically include a variety of medications,
such as antidepressants, antiepileptic drugs, muscle relaxants, and analgesics.
In January 2023, Amneal Pharmaceuticals, Inc. has
recently entered into a long-term licensing agreement with Orion Corporation,
aimed at facilitating the commercialization of several complex generic products
in various regions. In this exclusive partnership, Orion will be responsible
for introducing Amneal's portfolio of complex generic programs into multiple
parts of Europe, Australia, and New Zealand. The initial lineup will encompass
a combination of generic products that are currently available in the United
States and carefully chosen high-value pipeline products that are currently in
the development stage. Orion, a global pharmaceutical company based in Finland,
focuses on promoting well-being through the development, manufacturing, and
marketing of both human and veterinary pharmaceuticals, as well as active
pharmaceutical ingredients. The company's ongoing efforts revolve around the
creation of novel drugs and treatment approaches, with particular emphasis on
oncology and pain as core therapeutic areas in its pharmaceutical research and
development endeavours.
Browse
over XX market data Figures and spread through XX Pages and an in-depth TOC on
"Fibromyalgia Treatment Market.”
Side
effects of medications used in the treatment of fibromyalgia can present a
challenge in the Global Fibromyalgia Treatment Market. While these medications
can help manage symptoms, they may also come with various side effects that can
impact patient adherence and overall treatment outcomes. Some patients may
experience side effects that are difficult to tolerate, such as dizziness,
drowsiness, gastrointestinal discomfort, or headaches. These side effects can
lead to treatment discontinuation or reduced compliance. Side effects can
negatively affect a patient's quality of life by causing discomfort or
interfering with daily activities. This can be particularly problematic for
individuals with fibromyalgia, who are already dealing with pain and other
symptoms. Medication side effects like drowsiness or cognitive impairment can
affect a patient's ability to function at work or perform daily tasks. This can
lead to decreased productivity and impaired quality of life. In some cases,
medications prescribed for fibromyalgia, such as opioids or certain muscle
relaxants, can lead to dependence or tolerance, which can complicate long-term
treatment plans.
Global Fibromyalgia Treatment Market is segmented based
on Drug Class, Distribution Channel and by region.
Based on Drug Class, Global Fibromyalgia Treatment Market
is segmented into Antidepressants, Antipileptic, Muscle Relaxants, Others. Muscle relaxants are a class of
medications that are sometimes used as part of the treatment approach for
fibromyalgia, a chronic pain condition characterized by widespread
musculoskeletal pain, fatigue, and other symptoms. While muscle relaxants are
not typically considered first-line treatments for fibromyalgia, they may be
prescribed in specific situations to address muscle-related symptoms and
improve overall comfort. Muscle relaxants are primarily designed to alleviate
muscle spasms or involuntary muscle contractions. Some individuals with
fibromyalgia experience muscle spasms or tightness in addition to their
widespread pain. Muscle relaxants can help reduce these symptoms. By reducing
muscle spasms and tension, muscle relaxants can indirectly contribute to pain
relief. Muscle-related pain and discomfort can be one component of the overall
pain experienced by individuals with fibromyalgia.
Based on Region, North America held the largest share in the Global Fibromyalgia Treatment Market.
Many individuals in North America have health insurance coverage, which can
help cover the costs associated with fibromyalgia treatment, including
prescription medications and doctor visits. North America has a strong
tradition of healthcare awareness and education. Healthcare professionals and
the public in the region are more likely to be informed about fibromyalgia,
leading to earlier diagnoses and treatment. The region actively participates in
clinical research and trials related to fibromyalgia treatment, which can lead
to the availability of new and innovative therapies. North America has
well-established patient advocacy groups and support networks for fibromyalgia
patients. These groups work to raise awareness, provide resources, and promote
research into fibromyalgia treatments. In some cases, government initiatives
and healthcare policies may prioritize the treatment of chronic pain
conditions, which can benefit fibromyalgia patients in North America.
Some
of the major companies operating in the Global
Fibromyalgia Treatment Market include:
- AbbVie
Inc.
- Teva
Pharmaceutical Industries Ltd.
- Amneal
Pharmaceuticals LLC
- Novartis
AG
- Zydus
Lifesciences Limited
- Viatris
Inc.
- Eli
Lilly and Company
- Sun
Pharmaceutical Industries Limited
- Abbott
Laboratories Ltd.
- Lupin
Limited.
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“Certain areas, particularly in North
America, are projected to exert significant demand for the treatment of Fibromyalgia.
The growth in the competitive landscape and the presence of well-established
companies in the market, committed to enhance the overall wellbeing of people each
year, are expected to contribute to a remarkable growth of the Global Fibromyalgia
Treatment Market in the forecast period," said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based Global management consulting
firm.
Fibromyalgia Treatment Market by Drug Class (Antidepressants, Antipileptic, Muscle
Relaxants, Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies,
Online Pharmacies), By Region, By Competition Forecast &
Opportunities, 2018-2028F has
evaluated the future growth potential of Global Fibromyalgia Treatment Market
and provides statistics & information on market size, structure, and future
market growth. The report intends to provide innovative market intelligence and
help decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Fibromyalgia Treatment Market.
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