Fibromyalgia Treatment Market, by Drug Type (Antidepressants, Anticonvulsants, Muscle Relaxants, Analgesics and Others), and by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and Geography - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026

  • To Be Published : Apr 2019 |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

Fibromyalgia is a common and complex chronic pain disorder that causes musculoskeletal pain, fatigue and localized tenderness affecting individuals mentally, physically and socially. Fibromyalgia is mainly caused due to genetic conditions, however actual cause is still unknown. The most common symptoms of fibromyalgia are fatigue, sleeping problems, chronic muscle pain and tender points. An individual with fibromyalgia can also have symptoms such as headaches, poor concentration and depression. Fibromyalgia symptoms can be gradually accumulated with the time or it can be done by some external factors. Fibromyalgia treatments include therapy, medications, regular aerobic exercise, stress reduction, and others. Furthermore, for treatment of Fibromyalgia antidepressants or pain medication are prescribed to treat depression, anxiety, pain, and fatigue.

Fibromyalgia Treatment Market: Market Dynamics

Increasing prevalence of Fibromyalgia is expected to augment market growth. According to National Fibromyalgia and Chronic Pain Association, 2014, an estimated 210 million people in 2015, were affected with fibromyalgia syndrome, accounting for 2-4% of the total world population. Moreover, growth of the market is driven by increasing clinical trials by the manufacturers and research organizations and launch of novel diagnostics in order to reduce the burden of the disease with early and accurate disease diagnosis. For instance, in 2013, Innovative Med Concepts, LLC initiated the clinical trial for the drug candidate IMC-1, for the treatment of patients with fibromyalgia. Also, in March 2018, IQuity, a data science company launched a new blood test called Isolate Fibromyalgia, which uses RNA gene expression analysis to detect fibromyalgia, thus aiding in efficient diagnostics, which can provide early medical intervention.

Furthermore, various organizations are supporting research and development and providing accessible, affordable, and appropriate treatment which is expected to augment the market growth over the forecast period. For instance, a non-profit organization named National Fibromyalgia and Chronic Pain Association (NFMCPA) aims to build a united patient and health care community educate and execute advocacy programs regarding access to care, research, diagnosis and treatment for people suffering with chronic pain from fibromyalgia and overlapping conditions.

However, the difficulty to diagnose fibromyalgia since most of the symptoms are associated with other diseases, reduces the rate of diagnosis of patients with fibromyalgia, thereby hindering the growth of fibromyalgia treatment market.         

Fibromyalgia Treatment Market: Regional Dynamics

Regional segmentation of the global fibromyalgia treatment market by Coherent Market Insights comprises North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to hold a dominant position in the global fibromyalgia treatment market, owing to increasing incidence of fibromyalgia and to curb the economic burden associated with the disease in the U.S. According to the National Fibromyalgia Association, 2015, fibromyalgia affects an estimated 10 million people in the U.S. Moreover, according to the Community Pain Center, Fibromyalgia is responsible for a decrease in productivity by 1-2%, resulting in direct and indirect expenditures of US$ 15 billion in the U.S., thus impelling the organizations and manufacturers to launch efficient therapies, which in turn is expected to bolster the fibromyalgia treatment market in the region.

The Fibromyalgia treatment market in Europe is expected to gain significant traction, owing to the presence of support groups providing online support combined with fund raising activities to make treatments available for the patients. For instance, the Fibromyalgia Action UK improves the lives of people with fibromyalgia by increasing awareness of the condition throughout the country, thereby improving awareness and access to treatments for fibromyalgia. Also, the UK Fibromyalgia, a member of Disability Rights UK, is focused on spreading awareness regarding Fibromyalgia condition through magazines and social media accounts, as well as encourages National Health Society (NHS) and private organizations to invest in new research projects.

Fibromyalgia Treatment Market: Competitive Landscape

The key players in Fibromyalgia treatment market are focusing on developing innovative solutions to treat generalized pain associated with fibromyalgia. For instance, in October 2017, Avacen Medical launched an Avacen 100 Class II, which provides provide non-invasive, rapid whole-body treatment, using a single point of contact. Avacen treatment method is a novel concept in the chronic pain treatment that safely and non-invasively infuses heat into the circulatory system to generate muscular relaxation, thus providing an ideal drug-free and safe alternative for pain relief.

Key players operating in the global fibromyalgia treatment market include Eli Lilly and Company, Pfizer Inc., Merck & Co., Johnson & Johnson, GlaxoSmithKline Plc., Novartis AG, Sanofi S.A., AstraZeneca, and Allergan Plc.

Fibromyalgia Treatment Market: Market Taxonomy

On the basis of drug type, the global fibromyalgia treatment market is segmented into:

  • Antidepressants
    • Savella (Milnacipran)
    • Cymbalta (Duloxetine)
    • Others
  • Anticonvulsants
    • Lyrica (Pregabalin)
    • Others
  • Muscle Relaxants
  • Analgesics
  • Others

On the basis of distribution channel, the global fibromyalgia treatment market is segmented into:

  • Hospital Pharmacies
  • Retail Pharmacies
  • Online Pharmacies

On the basis of geography, the global fibromyalgia treatment market is segmented into:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East
  • Africa

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

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Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.
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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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