Fibromyalgia Treatment Market Outlook 2024 : Expected Market Growth Rate, Major Driver And Segments | Pfizer Inc., Johnson and Johnson Services Inc., Roche Holding AG

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Fibromyalgia Treatment Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $3.28 billion In 2028 At A CAGR Of 4.1% :

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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Fibromyalgia Treatment Market Major Segments
The fibromyalgia treatment market covered in this report is segmented -

1) By Type: Symptomatic Treatment; Targeted Treatment
2) By Drug Class: Antidepressants; Antiepileptics; Muscle Relaxants; Analgesics; Other Drugs
3) By Distribution Channel: Hospital Pharmacy; Retail Pharmacy; Online Pharmacy

Key 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.

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Prominent 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.

Fibromyalgia Treatment Market Players
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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Largest And Fastest Growing Region In The Market
North America was the largest region in the fibromyalgia market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in fibromyalgia treatment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Fibromyalgia Treatment Market Report Structure
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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