Fibromyalgia Treatment Market to Surpass US$ 3,607.3 Mn Threshold by 2026 - Coherent Market Insights

Global Fibromyalgia Treatment Market Size, by Drug Class (Antidepressants (Milnacipran (Savella and Other Generics), Duloxetine (Cymbalta and Other Generics), and Others), Antiepileptics (Pregabalin (Lyrica and Other Generics), and Others), Muscle Relaxants, Analgesics, and Others (Including Pipeline Drugs)), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), was valued at US$ 2,778.6 Mn in 2018 and is projected to exhibit a CAGR of 3.3% during the forecast period (2018–2026), as highlighted in a new report published by Coherent Market Insights. Robust pipeline and high prevalence of fibromyalgia is expected to support the fibromyalgia treatment market growth over the forecast period.

Approval of drugs such as Lyrica (2007 first drug for treating fibromyalgia), Cymbalta (2008), and Savella (2009) in the past propelled growth of the market, when medications such as muscle relaxants, analgesics, opioids, and other medications were mainly used as an off label treatment.

Subsequently, generic versions of Cymbalta (patent loss in 2013) and Lyrica (in the U.K. after Pfizer lost patent litigation case against Actavis & Mylan in 2015) were made available by generic manufacturers in the market. Launch of generic versions of branded drugs indicated for treatment of fibromyalgia is expected to increase its affordability and support fibromyalgia treatment market growth over the forecast period.

Moreover, increasing penetration of generic fibromyalgia treatment drugs globally, coupled with launches of novel pipeline drugs is expected to support growth of the fibromyalgia treatment market over the forecast period.

For instance, Intec Pharma Ltd. announced the initiation of a Phase I clinical trial of AP-CBD/THC, its Accordion Pill platform with two primary cannabinoids contained in Cannabis sativa, cannabidiol (CBD) and tetrahydrocannabinol (THC), for various indications, including low back pain and fibromyalgia, in 2017.

Browse 32 Market Data Tables and 35 Figures spread through 176 Pages and in-depth TOC on Global Fibromyalgia Treatment  Market, By Drug Class (Antidepressants (Milnacipran (Savella and Other Generics), Duloxetine (Cymbalta and Other Generics), and Others), Antiepileptics (Pregabalin (Lyrica and Other Generics), and Others), Muscle Relaxants, Analgesics, and Others (Including Pipeline Drugs)), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) - Global Forecast to 2026

To know the latest trends and insights prevalent in the Fibromyalgia Treatment Market, click the link below:

https://www.coherentmarketinsights.com/market-insight/fibromyalgia-treatment-market-1691

Furthermore, high prevalence of fibromyalgia across the globe is expected to be a major factor driving the global fibromyalgia treatment market growth over the forecast period.

For instance, 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. According to the National Fibromyalgia Association, 2015, fibromyalgia affects an estimated 10 million people in the U.S., thus driving organizations and manufacturers to launch efficient therapies. This, in turn, is expected to bolster the global fibromyalgia treatment market growth over the forecast period.

Key Takeaways of the Fibromyalgia Treatment Market:

• The global fibromyalgia treatment market is expected to exhibit a CAGR of 3.3% during the forecast period (2018 – 2026), owing to frequent product launches and approvals, and robust pipeline of novel fibromyalgia treatment
• Key players in the market are involved in research and development, patent extension, and other activities. For instance, Prismic Pharmaceuticals has micro-PEA (PP101) + pregabalin combination in phase 2 clinical trials. This drug i.e. (micro-PEA (PP101) has a 'potentiating' or 'synergistic' effect on the other drug, with which it is in combination.
• The price of branded fibromyalgia treatment is quite high and it may not be easily affordable (in the U.S., Savella 60 tablet cost around US$ 400). However, generic versions of fibromyalgia treatment products have been made available by manufacturers, which are affordable to the customers (generic Cymbalta costs around US$ 20 for 60 capsules). Research and development, manufacturing expenses, and other expenses are reflected in the prices of these fibromyalgia treatment products.
• Manufacturers intend to take advantage of countries with large population such as India and China, wherein healthcare infrastructure is steadily getting better (especially in India). Generic manufacturers such as Mylan N.V. and Teva Pharmaceutical Industries Ltd offer their generic versions of fibromyalgia treatment medications.
• Major players operating in the global fibromyalgia treatment market include Eli Lilly and Company, Pfizer, Inc., Novartis AG, Allergan plc, Sun Pharmaceutical Industries Ltd., Aptinyx, Inc., Prismic Pharmaceuticals, Inc., Innovative Med Concepts, Inc., Intec Pharma Ltd., and Astellas Pharma Inc.

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