The global fibromyalgia treatment market size is expected to reach USD 1,414.4 million by 2027, exhibiting a CAGR of 9.2% during the forecast period. The heavy investments in R&D for the development of innovative drugs in pain management will subsequently boost the market growth, states Fortune Business Insights in a report, titled “Fibromyalgia Treatment Market Size, Share &COVID-19 Impact Analysis, By Drug Class (Antidepressants, Antiepileptic, Muscle Relaxants, and Others), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy) and Regional Forecast, 2020-2027.” The market size stood at USD 1,918.1 million in 2019.
Request Sample PDF:
https://www.fortunebusinessinsights.com/enquiry/sample/fibromyalgia-treatment-market-105016
Strong Pipeline Products to Augment Growth
The prominent companies are focused on introducing innovative therapies to improve their product portfolio in the market. Potential product launches and approvals by regulatory bodies to treat fibromyalgia can greatly impact the fibromyalgia treatment industry in the forthcoming years. For instance, in January 2021, Eli Lilly and Company developed Galcanezumab, which is currently under phase 4 clinical trial. The drug has been approved for migraine and cluster headache; it is estimated to reach its pivotal clinical end-stage by December 2021 to treat fibromyalgia. Similarly, Teva Pharmaceuticals’ AJOVY is approved in the U.S for migraines and is currently under phase 2 clinical trial to manage fibromyalgia.
Lower Frequency of Patients Availing Treatment to Dampen Fibromyalgia Treatment Market Growth amid COVID-19
The COVID-19 outbreak has negatively impacted the global market across the globe. The surging cases of coronavirus have led to the high proclivity towards coronavirus vaccination in the pharmaceutical industry. Moreover, the lower frequency rate of patients availing treatment for fibromyalgia coupled with underdiagnosed indication, will restrict the market growth amid coronavirus. Besides, the increasing production of COVID-19 medicine and preventative vaccines is expected to disrupt fibromyalgia treatment drugs’ supply and demand during the pandemic.
Key Development:
December 2020: Tonix Pharmaceuticals developed a product called TNX-102 SL, which is in Phase 3 clinical trial. The innovative product is expected to launch in the U.S market by 2023.
Get Customized Report:
https://www.fortunebusinessinsights.com/enquiry/customization/fibromyalgia-treatment-market-105016
The Report Lists the Key Players in this Market:
- Pfizer, Inc. (U.S.)
- Eli Lilly and Company (U.S)
- Allergan (Ireland)
- Tonix Pharmaceuticals (U.S)
- Aptinyx (U.S)
- Teva Pharmaceutical Industries Ltd. (Israel)
- Novartis AG (Switzerland)
- Sun Pharmaceuticals (India)
- Astellas Pharma Inc (Japan)
- Other Prominent Players
Increasing Healthcare Expenditure to Augment Growth in Asia Pacific
Asia Pacific is expected to dominate the fibromyalgia treatment marketshareduring the forecast period. The large patient pool and increasing healthcare spending will enable speedy expansion of the market in the region. North America is expected to hold the largest share globally due to the growing prevalence of fibromyalgia. Lack of treatment options for fibromyalgia and potential product launches is expected to augment the market’s growth in Europe. Also, the growing healthcare expenditure by the European Commission is expected to propel the market in Europe.
Enquire before buying @
https://www.fortunebusinessinsights.com/enquiry/queries/fibromyalgia-treatment-market-105016
TABLE OF CONTENTS:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Prevalence of Fibromyalgia by key Regions
- Key Industry Trends
- Pipeline Analysis
- Regulatory Scenario
- Recent Industry Developments Such as Mergers & Acquisitions
- Impact of COVID-19 on the Market
- Global Fibromyalgia Treatment Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Drug Class
- Antidepressants
- Antiepileptic
- Muscle Relaxants
- Others
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
- Market Analysis, Insights and Forecast – By Country
- North America
- Europe
- Asia pacific
- Latin America
- Middle East & Africa
- North America Fibromyalgia Treatment Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis – By Drug Class
- Antidepressants
- Antiepileptic
- Muscle Relaxants
- Others
- Market Analysis – By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
- Market Analysis – By Country
- U.S.
- By Drug Class
- Antidepressants
- Antiepileptic
- Muscle Relaxants
- Others
- By Drug Class
- Canada
- By Drug Class
- Antidepressants
- Antiepileptic
- Muscle Relaxants
- Others
- By Drug Class
- U.S.
- Europe Fibromyalgia Treatment Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis – By Drug Class
- Antidepressants
- Antiepileptic
- Muscle Relaxants
- Others
- Market Analysis – By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
- Market Analysis – By Country
TOC Continued…..
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune – 411045, Maharashtra, India.
Phone:
US:+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245