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Fibromyalgia Treatment Market Analysis by Drug Class (Antidepressants, Antiepileptic, Muscle Relaxants, and Others); by Type (Symptomatic Treatment, and Targeted Treatment); and by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • Aptinyx Inc. declared the completion of enrollment of 305 patients in the current Phase 2b study of NYX-2925 in fibromyalgia. NYX-2925 is being studied in 305 patients with fibromyalgia is a randomized, double-blind, placebo-controlled Phase 2 study.

  • Astellas Pharma Inc. has acquired bioelectronics start-up company Iota Biosciences, Inc. (“iota”). In light of this acquisition, Astellas' Rx+ projects are estimated to accelerate.

Global Fibromyalgia Treatment Market Highlights Over 2023 - 2033

Base Year

2022

Forecast Year

2023-2033

CAGR

~9%

Base Year Market Size (2022)

 ~ USD 190 Million

Forecast Year Market Size (2033)

~ USD 536 Million

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)

Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)

 

The global fibromyalgia treatment market is estimated to garner a significant revenue of 536 million USD by the end of 2033 by growing at a CAGR of ~9% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of USD 190 Million in the year 2022. The growth of the market is primarily ascribed to the worldwide escalating load of chronic pain. Fibromyalgia, according to researchers, increases painful sensations by altering how the brain and spinal cord receive painful and non-painful impulses. For instance, across the globe nearly 771 million people are affected by chronic pain.

fibromyalgia market overview image

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Fibromyalgia, commonly known as fibromyalgia syndrome, is a severe neurologic condition that results in immense pain throughout the body. This condition affects people physically, intellectually, and socially and causes exhaustion, musculoskeletal pain, and localized discomfort. Furthermore, there are only few drugs such as Milnacipran, and Pregabalin which are prescribed for fibromyalgia treatment. Globally rising occurrence of musculoskeletal disorder is leading towards the increased chances of fibromyalgia. As per the World Health Organization (WHO), nearly 1.71 billion people around the world have been suffering from musculoskeletal disorders.

Global Fibromyalgia Treatment Market: Growth Drivers and Challenges

Growth Drivers

  • Worldwide Growing Incidences of Road Accidents - Road accidents are the most dreadful thing that happen to a road user, despite the fact that they occur quite frequently. The majority of fatal accidents are caused by excessive speeding, use of alcohol, or any psychoactive substance or drug. These factors raise the risk of road accident resulting in death or serious injury. Many times, the surviving person phases long term of disability or severe pain which turn into fibromyalgia disorder over time. Thus, increasing road accidents leads towards the growing prevalence of fibromyalgia disorder. According to the World Health Organization statistics, road accidents claim the lives of around 1.3 million people every year. There are an additional 20 to 50 million people who sustain non-fatal injuries, many of whom proceed to suffer disabilities.

  • Rising Count of Fibromyalgia Cases – Fibromyalgia is a chronic (long-term) illness characterized by widespread pain and discomfort, as well as exhaustion and difficulty sleeping. Scientists aren't sure what causes it, but those with the disease have heightened pain sensitivity. There were nearly 1.75 million adults in England and Wales with fibromyalgia as of 2019.

  • Surge in Post-Traumatic Stress Disorder (PTSD) - It is a mental health illness caused by watching or experiencing a scary incident. Flashbacks, nightmares, and acute anxiety, as well as uncontrolled thoughts about the incident, may be symptoms. In 2019, approximately 7.5 million adults in the United States suffered from post-traumatic stress disorder (PTSD).

  • Worldwide Boost in the Population of People Above 60- As per the data released by the World Health Organization, the worldwide population of people aged 60 and over is projected to propagate from 1 billion in 2020 to 1.4 billion by 2030. By 2050, the world's population of people aged 60 and above anticipated to doubled 2.1 billion.

  • Surge in Novel Drug Development – For instance, in 2021, following a pre-NDA meeting with the US Food and Drug Administration, Axsome Therapeutics, Inc., that develops novel therapies for the treatment of central nervous system (CNS) disorders, announced its decision to submit a New Drug Application (NDA) for AXS-14 for the treatment of fibromyalgia (FDA). AXS-14 (esreboxetine) is a new oral, norepinephrine reuptake inhibitor that is both potent and selective.

Challenges

  • Side Effects Associated with the Use of Fibromyalgia Drugs - Suicidal ideation may be increased in some persons by certain medications. Nausea, headache, exhaustion, high blood pressure, racing heart, excessive sweating, agitation, cholesterol and triglyceride increase, and tremor are all possible side effects.
  • High Adoption of Generic Drugs
  • Stringent Regulations of Government

The global fibromyalgia treatment market is segmented and analyzed for demand and supply by drug class into antidepressants, antiepileptic, muscle relaxants, and others. Out of these, the antiepileptic segment is projected to significantly grow over the forecast period on the back of its significant results in treating fibromyalgia, and increasing use of pregabalin to cure this disorder as pregabalin is an antiepileptic medication. For instance, Pregabalin has been approved by the FDA for the cure of fibromyalgia as it impedes the release of glutamate, norepinephrine, and substance P, which may make a significant contribution to pain relief in fibromyalgia patients. Furthermore, it was also observed in a clinical study that the daily intake of Pregabalin 300 mg or 600 mg lowered pain after shingles by half or more in 3 out of 10 people.

Global Fibromyalgia Treatment Market Regional Synopsis

The North America fibromyalgia treatment market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. It is backed by the radically increasing prevalence of fibromyalgia, and rising awareness among people regarding fibromyalgia in the region. As per the Centers for Disease Control and Prevention, fibromyalgia affects approximately 4 million adults in the United States, accounting for approximately 2% of the adult population.

fibromyalgia market share image

Market Segmentation

Our in-depth analysis of the global fibromyalgia treatment market includes the following segments:

      By Drug Class

  • Antidepressants
  • Antiepileptic
  • Muscle Relaxants
  • Others

      By Type

  • Symptomatic Treatment
  • Targeted Treatment

      By Distribution Channel

  • Hospital Pharmacies
  • Retail Pharmacies
  • Online Pharmacies

Top Featured Companies Dominating the Global Fibromyalgia Treatment Market

  • Pfizer Inc.

    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • AbbVie Inc.
  • Eli Lilly and Company
  • F. Hoffmann-La Roche Ltd.
  • GlaxoSmithKline plc
  • Aptinyx Inc.
  • Tonix Pharmaceuticals Holding Corp.
  • Virios Therapeutics, Inc.
  • Astellas Pharma Inc.
  • Novartis AG

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