Global Fibromyalgia Market, By Diagnosis (Blood Tests, Others), Treatment (Medication, Therapy, Others), Route of Administration (Oral, Parenteral, Others), End-Users (Hospitals, Homecare, Specialty Clinics, Others), Distribution Channel (Hospital Pharmacy, Online Pharmacy, Retail Pharmacy) – Industry Trends and Forecast to 2029.
Fibromyalgia Market Analysis and Size
The global fibromyalgia market is expected to witness significant growth during the forecast period. Emerging markets and huge investment in research and development are the factors responsible for the growth of this market. The growth of global fibromyalgia market enhanced by the growing cases of fibromyalgia and rise in research and development activities conducted by many pharmaceuticals’ companies. According to the European Network of Fibromyalgia Associations (ENFA), approximately 14 million people are affected in Europe with this disease and around 400 million globally. COVID-19 also had a major impact on the market growth.
Data Bridge Market Research analyses a growth rate in the global fibromyalgia market in the forecast period 2022-2029. The expected CAGR of global fibromyalgia market is tend to be around 7% in the mentioned forecast period. The market was valued at USD 2.1 billion in 2021, and it would grow upto USD 3.61 billion by 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Market Definition
Fibromyalgia is the disorder characterized by the common musculoskeletal pain followed by sleep, memory, fatigue and mood issues. It is believed that fibromyalgia causing painful sensation by affecting the way brain processes pain signals. Although the reason behind the fibromyalgia is not known properly, it is believed that due to the genetic history, chronic infection and physical & emotional trauma may causes fibromyalgia. Females are at more risk than the males. Rheumatoid arthritis, osteoarthritis or lupus are also reasons for fibromyalgia.
Fibromyalgia Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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By Diagnosis (Blood Tests, Others), Treatment (Medication, Therapy, Others), Route of Administration (Oral, Parenteral, Others), End-Users (Hospitals, Homecare, Specialty Clinics, Others), Distribution Channel (Hospital Pharmacy, Online Pharmacy, Retail Pharmacy)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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Pfizer Inc (U.S.), AstraZeneca (U.K.), Johnson and Johnson services Inc (U.S.), F. Hoffmann-La Roche Ltd (Switzerland), Janssen Pharmaceuticals, Inc. (Belgium), Sanofi (France), Merck & Co., Inc (U.S.), Mylan N.V. (U.S.), Teva Pharmaceutical Industries Ltd (Israel), Bristol Myers Squibb Company (U.S.) GlaxoSmithKline Plc. (U.S.), Bayer AG (U.S.), Perrigo Company plc (Ireland), Sun Pharmaceutical Industries Ltd. (India), Cipher Pharmaceuticals Inc. (U.S.), Novartis AG (Switzerland), Eli Lilly & Company (U.S.), and Aurobindo Pharma (India)
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Market Opportunities
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Global Fibromyalgia Market Dynamics
Drivers
- Increased Incidence of Fibromyalgia
Increasing prevalence of fibromyalgia are expected to boost the market growth over the forecast period 2022-2029. Fibromyalgia affects an approximately 10 million people in the U.S., with an average prevalence of 3%-6% globally. It is more prevalent in women, with 75%-90% of the total fibromyalgia patients. There is an estimated prevalence of 5.4% fibromyalgia cases which rounds off to approximately 1 in every 20 people.
- Rising Demand for Oral Drugs
Oral drugs is expected to boost the market growth. The segment is expected to accelerate the global market as most products are available in capsule and tablet form and it is a very feasible route of administration.
Opportunities
- Increased Clinical Research
Although the cases of fibromyalgia are rising, the therapies are very few. Thus, various leading market players are getting themselves involved in the R&D of new drugs, developing new drugs which are gaining a nod for the drug transition from early stages into advanced phases of trial. For instance, various potential drug candidates such as ICM 1 (Viros Therapeutics), NYX-2925 (Aptinyx), DS-5565 (Daichi Sankyo), and TD-9855 (Theravance Biopharma) are in their phase 2/phase 3 stages of clinical trials and are soon to be used in these treatments with full potential.
- Increasing Demand for Retail Pharmacies
The rise in the number of narcotic drugs delivered through retail pharmacies and the surge in the number of retail pharmacies in developed countries create opportunities for the market growth. In addition to this, patients prefer retail pharmacies for purchasing drugs, as these are easily accessible.
Restraints/Challenges
- Lack of skilled professionals
The lack of qualified personnel who are unable to perform the treatments could curb the growth of the global fibromyalgia market over a forecast period.
- High Cost
The huge expenditure associated with the treatments surely hamper the market growth.
This global fibromyalgia market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global fibromyalgia market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Fibromyalgia Market Scope
The global fibromyalgia market is segmented on the basis of diagnosis, treatment, route of administration, distribution channel and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Diagnosis
- Blood Tests
- Others
Treatment
- Medication
- Therapy
- Others
Route of Administration
- Oral
- Parenteral
- Others
End User
- Hospitals
- Homecare
- Specialty Clinics
- Others
Distribution Channel
- Hospital Pharmacy
- Online Pharmacy
- Retail Pharmacy
Fibromyalgia Market Regional Analysis/Insights
The global fibromyalgia market is analysed and market size insights and trends are provided by diagnosis, treatment, route of administration, distribution channel and end-user as referenced above.
The major countries covered in the global fibromyalgia market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America has been witnessing a positive growth for global fibromyalgia market throughout the forecasted period due to increasing geriatric population, increasing initiatives taken by the pharmaceutical organizations to generate novel formulation specific for arthritis population.
Asia-Pacific dominates the market due to increasing initiatives by the government and pharmaceutical organizations to spread awareness and presence of generic manufacturers.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Fibromyalgia Market Share Analysis
The global fibromyalgia market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global fibromyalgia market
Key players operating in the global fibromyalgia market include:
- Pfizer Inc (U.S.)
- AstraZeneca (U.K.)
- Johnson and Johnson services Inc (U.S.)
- F. Hoffmann-La Roche Ltd (Switzerland)
- Janssen Pharmaceuticals, Inc. (Belgium)
- Sanofi (France)
- Merck & Co., Inc (U.S.)
- Mylan N.V. (U.S.)
- Teva Pharmaceutical Industries Ltd (Israel)
- Bristol Myers Squibb Company (U.S.)
- GlaxoSmithKline Plc. (U.S.)
- Bayer AG (U.S.)
- Perrigo Company plc (Ireland)
- Sun Pharmaceutical Industries Ltd. (India)
- Cipher Pharmaceuticals Inc. (U.S.)
- Novartis AG (Switzerland)
- Eli Lilly & Company (U.S.)
- Aurobindo Pharma (India)
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