SEATTLE, Aug. 22, 2022 /PRNewswire/ -- According to Coherent Market Insights, the global fibromyalgia treatment market is estimated to be valued at US$ 3,142.4 million in 2022 and is expected to exhibit a CAGR of 3.3% during the forecast period (2022-2030).
Key Trends and Analysis of the Global Fibromyalgia Treatment Market:
Major players operating in the market are focusing on research and development activities on fibromyalgia treatment. For instance, in August 2021, Kutahya Health Sciences University, based in Turkey, carried out studies which aim to investigate the effectiveness of manual lymphatic drainage on symptom severity, pain intensity, pressure pain threshold and anxiety about pain in fibromyalgia syndrome. The Manual lymphatic drainage is a subset of CDT (carbohydrate-deficient transferrin) and a specialized manual technique based on the physiologic principles of lymph flow and lymph vessel emptying.
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Key Market Takeaways:
The global fibromyalgia treatment market is expected to exhibit a CAGR of 3.3% during the forecast period due to the increasing product approval and up gradation by regulatory bodies is expected to drive the global fibromyalgia treatment. For instance, in July 2021, NeuroMetrix, wearable pain relief Technology Company, receives breakthrough device designation from the U.S. Food and Drug Administration (FDA) to NeuroMetrix's Quell device for treatment of the symptoms of fibromyalgia in adults. A transcutaneous electrical nerve stimulator (TENS), Quell is intended for symptomatic relief and management of chronic pain in the lower extremities, including the knee, foot and leg.
Among Distribution Channel, the Hospital Pharmacies segment is expected to dominate the segment growth over the forecast period, owing to the increased prevalence of the fibromyalgia. For instance, in August 2019, according to the Center for Disease Control and Prevention, worldwide, over 3-4% of the population has fibromyalgia. In India, the prevalence is lower, at 0.5% to 2%. According to the U.S. government statistics, fibromyalgia is more common in women than men. Female patients comprise almost 90% of reported clinical cases for fibromyalgia. Fibromyalgia affects about 4 million of the U.S. adults, about 2% of the adult population. The cause of fibromyalgia is not known, but it can be effectively treated and managed.
Key players operating in the global fibromyalgia treatment market include Eli Lilly and Company, Pfizer, Inc., Novartis AG, Allergan plc, Sun Pharmaceutical Industries Ltd., Aptinyx, Inc., Prismic Pharmaceuticals, Inc., Innovative Med Concepts, Inc., Intec Pharma Ltd., and Astellas Pharma Inc.
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Detailed Segmentation:
Global Fibromyalgia Treatment Market, By Drug Class:
- Antidepressants
- Milnacipran (Savella and Other Generics)
- Duloxetine (Cymbalta and Other Generics)
- Others
- Antiepileptics
- Pregabalin (Lyrica and Other Generics)
- Others
- Muscle Relaxants
- Analgesics
- Others (Including Pipeline Drugs)
Global Fibromyalgia Treatment Market, By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Global Fibromyalgia Treatment Market, By Region:
- North America
- By Country:
- U.S.
- Canada
- Europe
- By Country:
- U.K.
- Germany
- Italy
- France
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- By Country:
- China
- India
- Japan
- ASEAN
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Middle East & Africa
- By Country:
- GCC Countries
- Israel
- South Africa
- Rest of Middle East & Africa
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