by Fibromyalgia is a disorder characterized by widespread musculoskeletal pain accompanied by fatigue, sleep, memory and mood issues. The pain can occur all over the body, but it often starts in the shoulders, neck, back, hips and knees. It results from sensitization of the central nervous system. The syndrome is usually diagnosed based on specific tender points on the body. Fibromyalgia treatment aims at symptom management through medical management including pain medication, antidepressants and lifestyle modifications. The global fibromyalgia treatment market is driven by increasing prevalence of fibromyalgia across the world. As per estimations, fibromyalgia affects approximately 5 million adults in the US and roughly 10 million across Europe. The condition is more prevalent in women as compared to men with a female to male ratio of 5:1. Increasing awareness regarding fibromyalgia and availability of various treatment options are also aiding the market growth.
The Global Fibromyalgia Treatment Market Demand is estimated to be valued at US$ 1781.68 Bn in 2024 and is expected to exhibit a CAGR of 10% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the fibromyalgia treatment are BASF, Syngenta, Bayer CropScience (formerly Monsanto), DowDuPont (now Corteva), FMC Corporation, ADAMA, Agricultural Solutions. BASF leads the fibromyalgia drug market and offers products such as duloxetine and pregabalin for fibromyalgia treatment.
Increased funding for fibromyalgia research and clinical trials is opening new opportunities in the market. Pharmaceutical companies are investing in development of novel drugs including SNRIs, SSRIs, NNRIs and NaV1.7 inhibitors for better management of fibromyalgia symptoms.
North America dominates the global fibromyalgia treatment market due to high disease prevalence, awareness and availability of treatment. However, growing burden of fibromyalgia in developing regions along with healthcare investments offers immense scope for market expansion in Asia Pacific and Latin America.
Market Drivers
Growing geriatric population prone to musculoskeletal disorders is driving the fibromyalgia treatment demand. Older age is a significant risk factor for fibromyalgia.
Recognition of fibromyalgia as a chronic condition by regulatory authorities have made patients more proactive in seeking long-term treatment. This continues to fuel the market growth.
Market Restrains
High treatment costs associated with fibromyalgia drugs significantly limits their access and uptake. Many patented pharmaceuticals are not covered under insurance policies.
Lack of approved treatments for children further restricts the market potential. Fibromyalgia also occurs in children but treatment approaches are still evolving.
Segment Analysis
The fibromyalgia treatment market can be segmented based on treatment type, drug class and distribution channel. Based on treatment type, the non-pharmacological treatment segment currently dominates the market due to minimal drug interference and risk of side effects. The non-pharmacological treatments aim to improve overall lifestyle of patients through exercise and stress management techniques.
Based on drug class, pregabalin is the dominating sub segment owing to its proven effectiveness in treating symptoms like chronic pain and insomnia associated with fibromyalgia. Pregabalin, sold under the brand name Lyrica, is gaining widespread acceptance as a first-line treatment due to minimal side effects.
Global Analysis
Regionally, North America dominates the fibromyalgia treatment market and is expected to continue its leadership during the forecast period. Increased awareness among patients and healthcare providers combined with new drug approvals are some factors responsible for market growth in the region. However, Asia Pacific is anticipated to emerge as the fastest growing regional market during the forecast period. Rising geriatric population prone to developing fibromyalgia coupled with increased government spending on healthcare infrastructure augurs well for regional market growth.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
