The rise in diabetic patients is a primary driver for the
gastroparesis treatment market, as diabetes often leads to
gastroparesis, disrupting normal digestion.
WILMINGTON, Del, July 15, 2024 /PRNewswire/ -- The global
fibromyalgia treatment market stood at US$
1.9 billion in 2023, and the global market is projected to
reach US$ 2.9 billion in 2034.
The fibromyalgia treatment market is anticipated to expand at a
CAGR of 3.8% between 2024 and 2034.
The fibromyalgia treatment market is experiencing significant
growth due to increasing awareness and diagnosis of this chronic
pain disorder. Characterized by widespread musculoskeletal pain,
fatigue, sleep disturbances, and cognitive issues, fibromyalgia
affects millions worldwide, predominantly women. The exact cause of
fibromyalgia remains unclear, but it is believed to involve a
combination of genetic, environmental, and psychological factors
that lead to abnormal pain processing in the brain and spinal
cord.
Current treatments for fibromyalgia aim to alleviate symptoms
and improve quality of life, as there is no known cure. The market
comprises a diverse range of pharmacological and
non-pharmacological therapies. Pharmacological treatments include
analgesics, antidepressants, anticonvulsants, and muscle relaxants,
which help manage pain, mood disturbances, and sleep problems.
Notable medications like pregabalin, duloxetine, and milnacipran
are widely prescribed and have shown efficacy in reducing
fibromyalgia symptoms.
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Non-pharmacological treatments play a crucial role in
comprehensive fibromyalgia management. Physical therapy, exercise
programs, cognitive-behavioral therapy (CBT), and stress management
techniques are frequently recommended to help patients cope with
the condition. Lifestyle modifications, such as regular exercise,
healthy diet, and adequate sleep, are also essential components of
treatment plans.
The increasing prevalence of fibromyalgia, coupled with
advancements in medical research, is driving innovation in this
market. New therapeutic approaches, including biologics, monoclonal
antibodies, and other novel drug classes, are under investigation,
promising improved outcomes for patients. Moreover, the integration
of digital health technologies, such as telemedicine and
mobile health apps, is enhancing patient engagement and
self-management, further propelling market growth.
Pharmaceutical companies are investing significantly in research
and development to introduce more effective and targeted therapies.
This competitive landscape is fostering collaborations and
strategic partnerships aimed at accelerating the development and
commercialization of innovative treatments. As awareness and
understanding of fibromyalgia continue to expand, the treatment
market is poised for sustained growth, offering hope for better
management of this debilitating condition.Top of Form
Key Takeaways of Market Report
- Global fibromyalgia treatment market to generate absolute
dollar opportunity worth US$ 2.9
billion until 2034.
- Global fibromyalgia treatment market is valued at
US$ 1.9 billion in 2023.
- North America is forecasted to
hold the largest share in 2023.
Fibromyalgia Treatment Market: Growth Drivers Top of
Form
- According to NIAMS, nearly 5 million adults in the U.S.
suffer from fibromyalgia, with over 80-90% being females.
Government initiatives aim to guide healthcare professionals and
manufacturers, such as the European League Against Rheumatism's
2016 recommendation against using NSAIDs for fibromyalgia
treatment.
- Key players are introducing innovative medications to maintain
their market presence. For instance, Eli Lilly and
Company's Galcanezumab entered its pivotal clinical end-stage
in December 2021 for treating
fibromyalgia, having been previously approved for cluster headache
and migraine. Phase 1 data showed SP-104 treated healthy volunteers
with fewer adverse events compared to immediate-release
naltrexone.
Fibromyalgia Treatment Market Report Scope:
Report
Coverage
|
Details
|
Forecast
Period
|
2024-2034
|
Base
Year
|
2020-2022
|
Size in 2023
|
US$ 1.9 Bn
|
Forecast (Value) in
2034
|
US$ 2.9 Bn
|
Growth Rate
(CAGR)
|
3.8 %
|
No. of
Pages
|
123
Pages
|
Segments
covered
|
By Treatment Type, By
Distribution Channel, By Region
|
Fibromyalgia Treatment Market: Regional Landscape
- North America dominated
the fibromyalgia treatment market in 2023, a trend projected
to continue due to a significant rise in patients in the U.S.
grappling with fibromyalgia. Favorable reimbursement policies
further bolster market growth, encouraging innovation and
accessibility to advanced treatment options.
- In Asia Pacific,
the fibromyalgia treatment market is expanding, driven by
improving healthcare infrastructure in countries like India and China. The region has also seen an increase in
export volumes of generic drugs from manufacturers in China and India. Additionally, collaborations between
international pharmaceutical giants and local companies are
facilitating the introduction of new therapies, contributing to the
market's development in Asia
Pacific.
- Top of Form
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Fibromyalgia Treatment Market: Key Players
- In 2023, Pfizer Inc. made strides in the fibromyalgia
treatment market with the advancement of Tanezumab, a monoclonal
antibody targeting nerve growth factor (NGF). Tanezumab showed
promise in clinical trials for reducing pain associated with
fibromyalgia, offering potential relief to patients who do not
respond well to traditional therapies.
- In 2023, Eli Lilly and Company continued to innovate in
the fibromyalgia treatment market by progressing with
their drug, Galcanezumab. Initially approved for migraine and
cluster headache, Galcanezumab entered pivotal clinical trials
for fibromyalgia in late 2021. Early data suggested efficacy
in managing pain and improving quality of life for
fibromyalgia patients, positioning it as a promising new
option in the treatment landscape.
Fibromyalgia Treatment Market: Segmentation
Treatment Type
§ Pain Relievers
§ Anti-depressants
§ Anti-seizure Drugs
§ Physical Therapy
§ Occupational Therapy
§ Counselling
Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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