Fibromyalgia disorder is characterized by musculoskeletal pain along with characteristics of fatigue, sleep disorders, memory and mood issues, irritable bowel syndrome, headaches, depression, and anxiety. It is believed that fibromyalgia alters the pain sensations mechanism controlled by the brain. An individual with fibromyalgia also can have symptoms such as tension headaches, migraine, temporomandibular joint (TMJ) disorders. Symptoms of fibromyalgia can be gradually accumulated with the time, or it can be done by some external factors such as physical trauma, infection, psychological stress, and surgery. However, the real cause of fibromyalgia is still unknown. Prevalence of fibromyalgia is more common in women than in men, and it can be nine times higher in women compare to men.
Fibromyalgia Treatment Market: Drivers and Restraints
Fibromyalgia treatment market is expected to witness high growth over the forecast period as the number of trauma cases and surgeries are increasing across the globe. Although there is no cure for fibromyalgia, however, some drugs in fibromyalgia treatment are used to reduce the symptoms of fibromyalgia such as narcotic and non-narcotic analgesics, anticonvulsants, antidepressants, and muscle relaxants. As fibromyalgia associated with age, increase in geriatric population across the globe is also a factor to increase in the prevalence of fibromyalgia, which in turn, likely to boost the growth of fibromyalgia treatment market. Fibromyalgia is hard to diagnose as most of the symptoms are associated with other diseases as well, which in turn lower the diagnosis rate of patients having fibromyalgia in turn hampering the growth of fibromyalgia treatment market. Fibromyalgia treatment Combination therapies to treat fibromyalgia has many side effects and can cause severe damage to the patients. Also, other indications such as diabetes, kidney problem, heart disease can lead to severe damage to the patients if these drugs are used in fibromyalgia treatment. These factors are expected to hinder the growth of fibromyalgia treatment market over the forecast period.
Fibromyalgia Treatment Market: Segmentation
Fibromyalgia treatment market is classified on the basis of drug class, distribution channels, and regions
Based on drug class, fibromyalgia treatment market is segmented into the following:
- Duloxetine HCl
- Milnacipran HCl
- Muscle Relaxants
Based on distribution channels, fibromyalgia treatment market is segmented into the following:
- Hospitals Pharmacies
- Drug Stores
- Retail Pharmacies
- Online Pharmacies
Fibromyalgia Treatment Market: Overview
Fibromyalgia is diagnosed with the chronic pain symptoms at tender points, a person has fibromyalgia if he or she has pain in at least 11 of 18 specific tender point sites. However, fibromyalgia treatment involves the high rate of chances of misdiagnosis if the individual does not meet the criteria of ACR. The introduction of new drugs is expected to boost the growth of fibromyalgia treatment market over the forecast period. Most of the drugs in fibromyalgia treatment are prescribed as off-label as these drugs available for other indications in the market such as including antidepressants, opioids, anti-epileptics and muscle relaxants. According to the European Network of Fibromyalgia Associations (ENFA), around 14 million people are affected in Europe by fibromyalgia and approximately 400 million people globally. Along with drug therapies, fibromyalgia treatment includes aerobic exercise which is also recommended to lower the pain and relieve the stress in fibromyalgia patients.
Fibromyalgia Treatment Market: Region-wise Outlook
The fibromyalgia treatment market covers the market scenario for North America, Western Europe, Eastern Europe, Asia-Pacific excluding Japan, Japan, Latin America and MEA. There are very few players with approved drugs in the fibromyalgia treatment market giving opportunities for emerging players for market entry. U.S. is the biggest market for fibromyalgia treatment. As North America is strong in terms of international company presence and also active research and development investments coupled with an increase in healthcare expenditure, the North America fibromyalgia treatment market contributes maximum revenue share in global fibromyalgia market. With the increasing number of approvals for new drugs in future, fibromyalgia market is expected to grow faster in developed and emerging economies.
Fibromyalgia Treatment Market: Key Market Participants
Some of the participants in fibromyalgia treatment market include Daiichi Sankyo, Eli Lilly, Innovative Med Concepts, Pfizer, Theravance Biopharma, Forest Pharmaceuticals, Inc., Innovative Med Concepts, Meiji Seika Pharma, and Tonix Pharmaceuticals. The fibromyalgia treatment market is competitive in nature as many generic drugs are available and used as off-label. Leading companies in fibromyalgia treatment are focusing on various new drug development and expanding their operation in the new countries for maintaining their foothold in the fibromyalgia treatment market.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.