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Fibromyalgia Treatment Market Report 2024: Strategies And Recent Developments | Pfizer Inc., Johnson and Johnson Services Inc., Roche Holding AG, AbbVie Inc., Novartis AG, Sanofi S.A., AstraZeneca PLC
Fibromyalgia Treatment Market Trends
The Business Research Company offers in-depth market insights through Fibromyalgia Treatment Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The fibromyalgia treatment market size has grown steadily in recent years. It will grow from $2.66 billion in 2023 to $2.79 billion in 2024 at a compound annual growth rate (CAGR) of 5.0%. The growth in the historic period can be attributed to increasing prevalence of fibromyalgia, growing awareness about fibromyalgia, government initiatives, rising disposable incomes.
The fibromyalgia treatment market size is expected to see steady growth in the next few years. It will grow to $3.28 billion in 2028 at a compound annual growth rate (CAGR) of 4.1%. The growth in the forecast period can be attributed to growing geriatric population, rising healthcare expenditure, rising occurrence of musculoskeletal disorders, increasing research and development activities to develop better treatment. Major trends in the forecast period include advancements in treatment options, strategic collaborations, advancements in integration of technology, innovative treatments.
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Market Segmentation:
The main types of fibromyalgia treatment are symptomatic treatment and targeted treatment. Symptomatic treatment, also known as palliative or supportive care, focuses on managing the individual symptoms and improving the patient's overall quality of life. The various drug class includes antidepressants, antiepileptics, muscle relaxants, analgesics and others that are distributed through various distribution channels such as hospital pharmacy, retail pharmacy and online pharmacy.
Fibromyalgia Treatment Global Market Report 2023 provides data on the global fibromyalgia treatment market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors' revenues, profiles and market shares. The fibromyalgia treatment market report identifies opportunities and strategies based on market trends and leading competitors' approaches.
Major Driver - Government Initiatives On Musculoskeletal Health Propel Growth In The Fibromyalgia Market
Rising government initiatives on musculoskeletal conditions are expected to propel the growth of the fibromyalgia market going forward. Government initiatives refer to specific actions, policies, programs, or projects undertaken by a government to address various societal issues, promote economic growth, improve public services, or achieve particular goals that benefit the nation and its citizens. Major government authorities are implementing several initiatives to help patients suffering from musculoskeletal conditions. For instance, in 2022, according to Musculoskeletal Australia, an Australia-based organization, the Australian government implemented the Own Your Health initiative. This initiative strives for overall self-care for patients suffering from musculoskeletal conditions for the next four years. Therefore, rising government initiatives on musculoskeletal conditions drive the fibromyalgia market.
Competitive Landscape:
Major players in the fibromyalgia treatment market are Pfizer Inc., Johnson and Johnson Services Inc., Roche Holding AG, AbbVie Inc., Novartis AG, Sanofi S.A., AstraZeneca PLC, Abbott Laboratories, GlaxoSmithKline PLC, Eli Lilly and Company, Amgen Inc., Viatris Inc., Teva Pharmaceutical Industries Ltd., Regeneron Pharmaceuticals Inc., Mylan N.V., Astellas Pharma Inc., Biogen Inc., Daiichi Sankyo Co. Ltd., Boehringer Ingelheim International GmbH, Sun Pharmaceutical Industries Ltd., Horizon Therapeutics PLC, Endo International PLC, Amneal Pharmaceuticals Inc., Zydus Lifesciences Limited, Lupin Limited.
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Top Trend - Market Leaders Focus On Innovative Microchip Technology For Fibromyalgia Treatment Advancements
Major companies operating in the fibromyalgia treatment market are focusing on developing technologically advanced solutions, such as microchip technology, to sustain their position in the market. Proprietary microchip technology is a specific type that utilizes a microchip to provide precise and targeted nerve stimulation to reduce symptoms associated with fibromyalgia. For instance, in November 2022, NeuroMetrix Inc., a US-based medical equipment manufacturing company, launched a Quell Fibromyalgia device through the Pathfinder Program, offering a novel solution for fibromyalgia symptom reduction. Quell Fibromyalgia, the first and sole medical device authorized by the U.S. Food and Drug Administration (FDA) for alleviating fibromyalgia symptoms, utilizes transcutaneous electrical nerve stimulation (TENS). This device was enabled by proprietary microchip technology and delivers precise, high-power nerve stimulation in a compact, wearable form factor optimized through position and motion sensing.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Fibromyalgia Treatment Market Characteristics
3. Fibromyalgia Treatment Market Trends And Strategies
4. Fibromyalgia Treatment Market - Macro Economic Scenario
5. Fibromyalgia Treatment Market Size And Growth
…..
27. Fibromyalgia Treatment Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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