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Fibromyalgia Treatment Market 2022 | Increased Morbidity of Fibromyalgia Along with Other Chronic Conditions and Introduction of Cutting-Edge Fibromyalgia Remedies

09-21-2022 11:24 AM CET | Health & Medicine

Press release from: Precision Business Insights

Fibromyalgia Treatment Market 2022 | Increased Morbidity

According to Precision Business Insights (PBI), the latest report, the Fibromyalgia Treatment market is expected to be valued at USD 3,017.9 million in 2022, growing at an 3.8% CAGR from 2022 to 2028. Fibromyalgia treatment market analysis projects that the increased prevalence of fibromyalgia and its related complication compelled the introduction of targeted & precise treatment methods for fibromyalgia. Also, the increase in awareness about fibromyalgia will give the required fuel for the fibromyalgia treatment market growth in the forecast period.

View the detailed report description here - https://precisionbusinessinsights.com/market-reports/fibromyalgia-treatment-market/

Anticonvulsant/ Anti-epileptic Segment to Flourish the Most in Forecast Period:
In 2021, antiepileptics dominated the market. Pfizer's Pregabalin, which generates the most revenue, has propelled the category to a dominant position in the market. Pregabalin, an antiepileptic medication, is widely used in the treatment of epilepsy and has also shown a prominent effect on fibromyalgia. Thus, this segment of a drug is anticipated to grow the most in the fibromyalgia treatment market growth. In 2021, the muscle relaxant will hold the second largest share in the market. Several clinical trials have shown the effectiveness of the drug category, but targeted treatment is still in the development stage. The segment is expected to increase at a slower rate, owing primarily to the market launch of pipeline items. However, in emerging regions such as Latin America, the Middle East, and Africa, the product type is widely used. Which will lead to the overall fibromyalgia treatment drug market growth in the forecast period.

North American Region to Dominate the Fibromyalgia Treatment Market:
In 2021, North America earned USD 1,065.3 million in revenue and will dominate market growth during the forecast period. The advancement is owing to increased fibromyalgia recognition and frequency, as well as enhanced availability of cutting-edge approved treatments to regulate the disease. According to the American Chronic Pain Association, fibromyalgia affects an estimated 2-4% of Americans (2017). Furthermore, prominent competitors' increased focus on launching novel pharmaceuticals in the North American region will likely drive the fibromyalgia treatment drug market throughout the projection period.

China is expected to have rapid growth over the forecasted term, owing primarily to rising per capita spending in the country. Developing private bodies for research and improvements, as well as expanding reimbursement policies in healthcare and financial support supplied by governments, are predicted to be important factors for proper demand for fibromyalgia treatment in the approaching years. The elderly population increases the frequency of chronic diseases, which increases the need for prompt treatment, driving the demand for fibromyalgia treatment.

Strategic New Product Launches, Mergers, Acquisitions, And Agreements Are the Key Strategies Adopted by Market Players:
The global Fibromyalgia Treatment market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In August 2022, Scilex Holding Company ("Scilex"), a commercial biopharmaceutical company focused on developing and commercializing non-opioid therapies for patients suffering from acute and chronic pain, announced the signing of a Product Distribution Agreement ("Agreement") with CH Trading Group LLC ("CH Trading"), an international import, export, and trading company focused on the Middle East and North Africa (MENA) Region and other markets, to distribute Sorrento Therapeutics, Inc. In June 2022, The U.S.-approved migraine medication AJOVY from Teva Pharmaceuticals has undergone phase 2 clinical research to treat fibromyalgia.

Request sample report at: https://precisionbusinessinsights.com/request-sample?product_id=60279

The fibromyalgia treatment market is segmented based on treatment method, distribution channel, and geography
Based On the Treatment Method, The Market is Segmented into the Following:
• Anti-depressants
• Anticonvulsants
• Muscle Relaxants
• Analgesics
• Wearables

Based On Distribution Channel, The Market is Segmented into the Following:
• Hospitals
• Retail Pharmacies
• Online Pharmacies

Based On Geography, The Market is Segmented into the Following:
• North America
• Europe
• Asia-Pacific
• Middle East and Asia
• Latin America

Request Methodology: https://precisionbusinessinsights.com/request-methodology?product_id=60279

Key players' profiles in the fibromyalgia treatment market are Abbott, AbbVie, Allergan, Astellas Pharma, AstraZeneca, Bayer AG, Boehringer Ingelheim, Cephalon, Inc., Eli Lilly, F. Hoffmann-La Roche, GlaxoSmithKline, Johnson & Johnson Services, Novartis, Pfizer, and Sanofi.

Contact:
Mr. Satya
Precision Business InsightsTM | Toll Free: +1 866 598 1553
Email: sales@precisionbusinessinsights.com
Kemp House, 152 - 160 City Road, London EC1V 2NX
Web: https://precisionbusinessinsights.com/ | D U N S® Number: 852781747

About Precision Business Insights:
We are a market research company that strives to provide the highest quality market research insights. Our diverse market research experts are enthusiastic about market research and therefore produce high-quality research reports. We have over 500 clients with whom we have a good business partnership and capacity to provide in-depth research analysis for more than 30 countries. In addition to deliver more than 150 custom solutions, we already have accounts with the top five medical device manufacturers. Precision Business Insights offers a variety of cost-effective and customized research services to meet research requirements. We are a leading research service provider because of our extensive database built by our experts and the services we provide.

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