Fibromyalgia Treatment Market | Key Players Include Eli Lilly, Pfizer, Johnson & Johnson, GlaxoSmithKline, Novartis AG, AstraZeneca

Coherent Market Insights has announced the addition of the “Fibromyalgia Treatment Market Size Status and Forecast 2026”, The report classifies the global Fibromyalgia Treatment Market in a precise manner to offer detailed insights about the aspects responsible for augmenting as well as restraining market growth.

This report studies the global Fibromyalgia Treatment Speaker market, analyzes and researches the Fibromyalgia Treatment Speaker development status and forecast in North America, Europe, Asia Pacific, Latin America and Rest of the World. This report focuses on the top players in global market, like Eli Lilly and Company, Pfizer Inc., Merck & Co., Johnson & Johnson, GlaxoSmithKline Plc., Novartis AG, Sanofi S.A., AstraZeneca, and Allergan Plc.

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Fibromyalgia Treatment Market: Drivers

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. Various organizations are supporting research and development and providing accessible, affordable, and appropriate treatment which is expected to augment the market growth over the forecast period. For instance, a non-profit organization named National Fibromyalgia and Chronic Pain Association (NFMCPA) aims to build a united patient and health care community educate and execute advocacy programs regarding access to care, research, diagnosis and treatment for people suffering with chronic pain from fibromyalgia and overlapping conditions.

Increasing prevalence of Fibromyalgia is expected to augment market growth. According to National Fibromyalgia and Chronic Pain Association, 2014, an estimated 210 million people in 2015, were affected with fibromyalgia syndrome, accounting for 2-4% of the total world population. Moreover, growth of the market is driven by increasing clinical trials by the manufacturers and research organizations and launch of novel diagnostics in order to reduce the burden of the disease with early and accurate disease diagnosis. For instance, in 2013, Innovative Med Concepts, LLC initiated the clinical trial for the drug candidate IMC-1, for the treatment of patients with fibromyalgia. Also, in March 2018, IQuity, a data science company launched a new blood test called Isolate Fibromyalgia, which uses RNA gene expression analysis to detect fibromyalgia, thus aiding in efficient diagnostics, which can provide early medical intervention.

Fibromyalgia Treatment Market: Market Taxonomy

On the basis of drug type, the global fibromyalgia treatment market is segmented into:

Antidepressants
Savella (Milnacipran)
Cymbalta (Duloxetine)
Others
Anticonvulsants
Lyrica (Pregabalin)
Others
Muscle Relaxants
Analgesics
Others

On the basis of distribution channel, the global fibromyalgia treatment market is segmented into:

Hospital Pharmacies
Retail Pharmacies
Online Pharmacies

On the basis of geography, the global fibromyalgia treatment market is segmented into:

North America
Latin America
Europe
Asia Pacific
Middle East
Africa

North America is expected to hold a dominant position in the global fibromyalgia treatment market, owing to increasing incidence of fibromyalgia and to curb the economic burden associated with the disease in the U.S. According to the National Fibromyalgia Association, 2015, fibromyalgia affects an estimated 10 million people in the U.S. Moreover, according to the Community Pain Center, Fibromyalgia is responsible for a decrease in productivity by 1-2%, resulting in direct and indirect expenditures of US$ 15 billion in the U.S., thus impelling the organizations and manufacturers to launch efficient therapies, which in turn is expected to bolster the fibromyalgia treatment market in the region.

The Fibromyalgia treatment market in Europe is expected to gain significant traction, owing to the presence of support groups providing online support combined with fund raising activities to make treatments available for the patients. For instance, the Fibromyalgia Action UK improves the lives of people with fibromyalgia by increasing awareness of the condition throughout the country, thereby improving awareness and access to treatments for fibromyalgia.

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This release was published on openPR.