Fibromyalgia Treatment Market Size is Projected to Reach US$ 2,830.1 Million by 2034 With a CAGR of 6.9% | Fact.MR

The size of the global fibromyalgia treatment market is expected to increase from US$ 1,445.8 million in 2024 to US$ 2,830.1 million in 2034. Throughout the forecast period, the demand for fibromyalgia treatment is expected to grow at 6.9% CAGR.

Demand is very strong for antidepressants and anticonvulsants in the market due to the fact that they are effective in causing relief from fibromyalgia-induced chronic pain. The target segments are expected to register CAGRs of 7.9% and 6.4%, respectively, during 2034.

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Fibromyalgia Treatment Market Analysis

Which Factors Are Fueling Fibromyalgia Treatment Demand?

"Increasing Incidence of Fibromyalgia Globally"

There has been a dramatic increase in fibromyalgia cases over the years, with it being a somatization disorder that presents with symptoms such as musculoskeletal pain and pain. For example, according to the National Health Services, approximately 1 out of every 20 people worldwide are afflicted with fibromyalgia.

Patients suffering from fibromyalgia tend to use drugs such as antidepressants and anticonvulsants to ease pain and other symptoms. Therefore, the increasing incidence of fibromyalgia is likely to drive demand for fibromyalgia therapy throughout the forecast period.

Country-wise Insights

North America is projected to continue to lead the ladder in the market for the treatment of fibromyalgia, whereas the East Asia region is poised to provide quality growth prospects to manufacturers owing to the swelling number of patients and the dominance of pharma majors.

East Asia fibromyalgia treatment market is anticipated to grow with a strong CAGR of 10.3% over the forecast period. It will most likely have a worldwide market share of approximately 21.2% in 2034, and China and Japan will lead the front.

The value of the United States fibromyalgia treatment market is anticipated to reach US$ 939 million in 2034. During the forecast period, the demand for fibromyalgia treatment in the United States is anticipated to increase at 5.2% CAGR.

Category-wise Insights

The following section offers a doorway to dominant segments, their growth expectations, and corresponding shares within the fibromyalgia treatment market. On the basis of drug class, the segment of anticonvulsants will dominate the market with a value share of 52.6% in 2034. In terms of distribution channels, the hospital pharmacies segment is projected to hold a dominant market share of 45.7% in 2024.

As per the latest analysis, anticonvulsants are expected to remain highly sought-after drugs for the treatment of fibromyalgia. This is due to their effectiveness in relieving fibromyalgia pain.

Demand for anticonvulsants in fibromyalgia management is poised to grow at 6.4% CAGR during the assessment period. It will likely total US$ 1,488.5 million, contributing a revenue share of 52.6% by 2034.

Anticonvulsants, or antiseizure drugs or antiepileptic drugs, are increasingly popular for the treatment of fibromyalgia. These drugs are prescribed to manage various fibromyalgia symptoms, such as pain and sleep disturbances.

Competitive Landscape

Major companies in the market for fibromyalgia treatment are FSD Pharma, AbbVie, Inc., Pfizer, Inc., Sanofi, Bayer AG, GlaxoSmithKline plc., Teva Pharmaceutical Industries Ltd., Aptinyx Inc., Johnson & Johnson Services, Inc., Virios Therapeutics, Inc., TONIX Pharmaceutical Holdings Corp, and Eli Lilly and Company.

Major producers of fibromyalgia treatment medications are investing heavily in research and development in order to discover new & effective fibromyalgia medications. They are also seeking rapid-track approval of their drugs by regulatory authorities such as the United States Food and Drug Administration (FDA).

Few companies also embrace strategies such as alliances, partnerships, distribution deals, facility expansion, collaborations, and acquisitions. These are supposed to help them increase their footprint and considerably remain ahead of the pack.

Current Developments in the Fibromyalgia Treatment Market-

In April 2021, FSD Pharma Inc. acquired the Canada specialty psychedelic pharmaceuticals business Lucid Psycheceuticals Inc.
In October 2023, NeuroMetrix, Inc. partnered with the National Fibromyalgia Association in order to enhance the quality of life of fibromyalgia patients.
In December 2023, AbbVie Inc. partnered with BigHat Biosciences to find and develop innovative next-generation therapeutic antibodies in neuroscience and oncology.
Axsome Therapeutics acquired in January 2020 the Reboxetine clinical and nonclinical data of Prizer under an agreement with Pfizer Inc. Axsome also acquired under this agreement the exclusive US rights to develop and market esreboxetine, a late-stage novel product, for the treatment of fibromyalgia.

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Fibromyalgia Treatment Market Segmentation

By Drug Class:
Antidepressants
Anticonvulsants
Muscle Relaxants
Analgesics
By Distribution Channel:
Hospital Pharmacies
Drug Stores
Retail Pharmacies
Online Pharmacies
By Region:
North America
Europe
Latin America
East Asia
South Asia & Oceania
Middle East & Africa

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