Press Release

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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