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Fibromyalgia Treatment Market | SWOT Analysis of Major Market Segments

05-08-2018 10:45 PM CET | Health & Medicine

Press release from: Transparency Market Research

Fibromyalgia Treatment Market | SWOT Analysis of Major Market

Fibromyalgia disorder is characterized by musculoskeletal pain along with characteristics of fatigue, sleep disorders, memory and mood issues, irritable bowel syndrome, headaches, depression, and anxiety. It is believed that fibromyalgia alters the pain sensations mechanism controlled by the brain. An individual with fibromyalgia also can have symptoms such as tension headaches, migraine, temporomandibular joint (TMJ) disorders. Symptoms of fibromyalgia can be gradually accumulated with the time, or it can be done by some external factors such as physical trauma, infection, psychological stress, and surgery. However, the real cause of fibromyalgia is still unknown. Prevalence of fibromyalgia is more common in women than in men, and it can be nine times higher in women compare to men.

Fibromyalgia Treatment Market: Drivers and Restraints

Fibromyalgia Treatment Market is expected to witness high growth over the forecast period as the number of trauma cases and surgeries are increasing across the globe. Although there is no cure for fibromyalgia, however, some drugs in fibromyalgia treatment are used to reduce the symptoms of fibromyalgia such as narcotic and non-narcotic analgesics, anticonvulsants, antidepressants, and muscle relaxants. As fibromyalgia associated with age, increase in geriatric population across the globe is also a factor to increase in the prevalence of fibromyalgia, which in turn, likely to boost the growth of fibromyalgia treatment market.

Fibromyalgia is hard to diagnose as most of the symptoms are associated with other diseases as well, which in turn lower the diagnosis rate of patients having fibromyalgia in turn hampering the growth of fibromyalgia treatment market. Fibromyalgia treatment Combination therapies to treat fibromyalgia has many side effects and can cause severe damage to the patients. Also, other indications such as diabetes, kidney problem, heart disease can lead to severe damage to the patients if these drugs are used in fibromyalgia treatment. These factors are expected to hinder the growth of fibromyalgia treatment market over the forecast period.

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Fibromyalgia Treatment Market: Overview

Fibromyalgia is diagnosed with the chronic pain symptoms at tender points, a person has fibromyalgia if he or she has pain in at least 11 of 18 specific tender point sites. However, fibromyalgia treatment involves the high rate of chances of misdiagnosis if the individual does not meet the criteria of ACR. The introduction of new drugs is expected to boost the growth of fibromyalgia treatment market over the forecast period. Most of the drugs in fibromyalgia treatment are prescribed as off-label as these drugs available for other indications in the market such as including antidepressants, opioids, anti-epileptics and muscle relaxants. According to the European Network of Fibromyalgia Associations (ENFA), around 14 million people are affected in Europe by fibromyalgia and approximately 400 million people globally. Along with drug therapies, fibromyalgia treatment includes aerobic exercise which is also recommended to lower the pain and relieve the stress in fibromyalgia patients.

Fibromyalgia Treatment Market: Region-wise Outlook

The fibromyalgia treatment market covers the market scenario for North America, Western Europe, Eastern Europe, Asia-Pacific excluding Japan, Japan, Latin America and MEA. There are very few players with approved drugs in the fibromyalgia treatment market giving opportunities for emerging players for market entry. U.S. is the biggest market for fibromyalgia treatment. As North America is strong in terms of international company presence and also active research and development investments coupled with an increase in healthcare expenditure, the North America fibromyalgia treatment market contributes maximum revenue share in global fibromyalgia market. With the increasing number of approvals for new drugs in future, fibromyalgia market is expected to grow faster in developed and emerging economies.

Fibromyalgia Treatment Market: Key Market Participants

Some of the participants in fibromyalgia treatment market include Daiichi Sankyo, Eli Lilly, Innovative Med Concepts, Pfizer, Theravance Biopharma, Forest Pharmaceuticals, Inc., Innovative Med Concepts, Meiji Seika Pharma, and Tonix Pharmaceuticals. The fibromyalgia treatment market is competitive in nature as many generic drugs are available and used as off-label. Leading companies in fibromyalgia treatment are focusing on various new drug development and expanding their operation in the new countries for maintaining their foothold in the fibromyalgia treatment market.

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