The global Fibromyalgia Treatment Market is estimated to be valued at US$ 1546.59 Mn in 2023 and is expected to exhibit a CAGR of 3.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Treatments focus on reducing symptoms and improving overall well-being through medications, lifestyle changes and gentle exercises.
Market key trends:
Medical cannabis has emerged as a promising treatment option for reducing fibromyalgia symptoms like chronic pain, sleep difficulties and depression. Studies show cannabinoids help modulate pain signaling pathways and reduce inflammation. They also have sleep-promoting effects through interaction with endocannabinoid system. Growing legalization of medical marijuana in major markets has boosted its adoption among fibromyalgia patients. Many report significant improvements in their quality of life with cannabis treatment.
Segment Analysis
Global Fibromyalgia Treatment Market Size is segmented into drug class, pipeline analysis, sales channel, and geography. Within drug class, anti-depressants dominate the market owing to their widespread usage in fibromyalgia management. Anti-depressants help address neurological abnormalities and reduce overall pain. Pfizer's Lyrica (pregabalin) also has a significant market share due to its efficacy in pain management and fewer side effects.
Key Takeaways
The global fibromyalgia treatment market size is expected to reach US$ 2050.32 Mn by 2030, growing at a CAGR of 3.3% during the forecast period.Fibromyalgia mainly affects women aged 20-50 years. With rising awareness about this chronic condition, the market is anticipated to witness steady growth over the next decade.
Regional analysis
North America currently accounts for the largest share of the global fibromyalgia treatment market owing to rising fibromyalgia prevalence, availability of advanced treatments, and favorable reimbursement policies. The Asia Pacific region is projected to witness the fastest growth during the forecast period due to improving healthcare infrastructure and increasing access to diagnosis and treatment.
Key players
Key players operating in the fibromyalgia treatment market are 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. Eli Lilly and Company leads the fibromyalgia treatment market with its product Cymbalta (duloxetine). Pfizer's Lyrica (pregabalin) also has a dominant market share in the prescription medication segment.
For More Insights, Read- https://www.newsstatix.com/fibromyalgia-treatment-market-size-share-analysis-2023-2030/
Comments
0 comment