Global Fibromyalgia Treatment Market Report and Forecast 2024-2032

Global Fibromyalgia Treatment Market Outlook

The global fibromyalgia treatment market attained a value of USD 2.82 million in 2023, driven by the increasing awareness about the condition across the globe. The market size is anticipated to grow at a CAGR of 8.1% during the forecast period of 2024-2032 to achieve a value of USD 5.69 million by 2032.

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Key Trends in the Market

Fibromyalgia is defined as a musculoskeletal disorder which causes intense pain, fatigue, sleep, mood swings, headache, depression, and memory issues. This disorder increases the pain sensations to the brain and spinal cord. As there is no definitive cure, fibromyalgia treatment is aimed at providing comfort to the patients using medications and specialised drugs. Women are more susceptible to fibromyalgia.  

• The increasing prevalence of fibromyalgia, triggered by the sedentary lifestyles led by the working population, genetic predisposition, infections, and traumatic events in lives of people worldwide, is fuelling the fibromyalgia treatment market growth.

• Rising incidences of conditions such as lupus, rheumatoid arthritis, and osteoarthritis are leading to an increase in the number of cases of fibromyalgia, as patients with these conditions are more likely to develop fibromyalgia at some point in their lives.

• Over the forecast period, the anticipated increase in healthcare expenditure across the emerging economies, rising standards of living, and favourable policies of various governments are expected to improve the diagnosis and treatment infrastructure across the healthcare units, increasing the fibromyalgia treatment market size.

Market Analysis

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Based on drug class, the market is segmented into antidepressants, antiepileptic, muscle relaxants, and analgesics, among others. On the basis of distribution channel, the market is classified into hospital pharmacy, retail pharmacy, and online pharmacy, among others. The regional markets for fibromyalgia treatment can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.  

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global fibromyalgia treatment market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

• Pfizer, Inc.

• Eli Lilly and Company

• Novartis AG

• Allergan plc

• Sun Pharmaceutical Industries Ltd

• Intec Pharma Ltd

• Astellas Pharma Inc

• Prismic Pharmaceuticals, Inc.

• Others

Market Share by Drug Class

The antidepressant segment, based on drug class, accounts for a sizable fibromyalgia treatment market share. Antidepressants are an effective medication which reduces severe depression and feelings of trauma or exhaustion, while preventing their resurgence. Antidepressants are recommended by many doctors or pharmacists as they are safe and well-researched. In addition, these medicines can improve the quality of life by providing energy to carry out various day to day activities, which is expected to contribute to the fibromyalgia treatment market price. Meanwhile, the muscle relaxants segment is expected to witness a steady growth in the forecast period as it helps patients cope with muscle stress and tension. 

Market Share by Distribution Channel

As per the fibromyalgia treatment market report, the retail pharmacy segment accounts for a significant share of the market, based on distribution channel. This can be attributed to wider network and easier accessibility of retail pharmacies. Further, retail pharmacies bring greater convenience to people as it is usually available across remote and major locations in both urban and rural areas. Meanwhile, the online pharmacy segment is expected to register a decent growth in the forecast period due to the rising purchasing power and rapid digitalisation in the pharmaceutical and healthcare sector across the emerging economies. 

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Competitive Landscape

Pfizer, Inc. is a leading pharmaceutical and biotechnology company which produces high-quality medications for the treatment of chronic conditions. It also carries out clinical trials and vaccine development to combat lethal infections. The company was established in the year 1849 and is currently headquartered in New York, United States. 

Eli Lilly and Company is a major pharmaceutical company which is headquartered in Indiana in the United States. The company was established in the year 1876 and currently manufactures high-quality medicines. Segments of this company include diabetes solution centre, oncology support centre, and insulin state patient assistance programmes, among others. 

Novartis AG is a prominent pharmaceutical corporation which was founded in 1996 and is currently headquartered in Basel, Switzerland. The company caters to the medical demands of patients suffering from oncological, ophthalmology, and neuro conditions, among others. Novartis AG innovates in digital and scientific technologies to transform the treatment infrastructure in order to improve patient health. 

Other market players include Allergan plc, Sun Pharmaceutical Industries Ltd, Intec Pharma Ltd, Astellas Pharma Inc, and Prismic Pharmaceuticals, Inc., among others.

Key Highlights of the Report