About Fibromyalgia Treatment
Fibromyalgia is a condition that causes lasting and debilitating muscle pain and fatigue. In recent years, cases of road traffic injuries have been rising at an alarming rate, which further leads to the rising prevalence of fibromyalgia as road traffic accidents are likely to develop widespread chronic pain. Psychiatric disorders are increasingly prevalent in the case of fibromyalgia, and post-traumatic stress disorders are also seen with the increasing occurrence rate. Screening for post-traumatic stress disorder symptoms is also an essential part of the assessment process in patients suffering from fibromyalgia. Fibromyalgia treatment is performed by professionals to cure fibromyalgia disease. The Fibromyalgia therapeutics medicine market is driving because factors like a strong pipeline of novel medicine are below the late clinical trial part and also the availableness of a possible client base. Market players are accenting analysis and development, so as to introduce new products within the market and increase treatment choices. restrictive approval and launch of novel fibromyalgia treatment medicine are expected to reinforce fibromyalgia therapeutic medicine market growth over the forecast amount. However, factors like limited prescriptions written by care professionals and also the availableness of other drug products are expected to hamper the market growth.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Fibromyalgia Treatment market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Pfizer (United States), GlaxoSmithKline (United Kingdom), AstraZeneca (United Kingdom), F. Hoffmann-La Roche AG (Switzerland), Astellas Pharma (Japan), Johnson & Johnson Services, Inc. (United States), SANOFI (France), ABBOTT (United States), NOVARTIS (Switzerland), Eli Lilly and Company (United States), Bayer AG (Germany), ALLERGAN (Ireland), Boehringer Ingelheim (Germany), AbbVie (United States) and Cephalon, Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Sunovion Pharms Inc (United States), Jazz Pharmaceuticals (Ireland) and Vertical Pharmaceuticals (United States).
Segmentation Overview
AMA Research has segmented the market of Global Fibromyalgia Treatment market by Type (Symptomatic and Targeted), Application (Hospitals Pharmacies, Clinic Pharmacy, Retail Drug Stores and Online Pharmacies) and Region.
On the basis of geography, the market of Fibromyalgia Treatment has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Medication Type, the sub-segment i.e. Antidepressants will boost the Fibromyalgia Treatment market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Diagnosis Type, the sub-segment i.e. Laboratory Evaluation will boost the Fibromyalgia Treatment market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increase in The Recommendation of The Treatment by The Doctors
Market Growth Drivers:
Increasing Numerous Cases of Fibromyalgia, Growing Awareness Among the Population and Rising Geriatric Population
Challenges:
Lack of Infrastructure in The Middle- And Low-Income Countries and Difficulty in Diagnosis of The Disease
Restraints:
Higher Adoption of The Off-Label and Generic Drugs
Opportunities:
Increasing Financial Support by The Government and Increasing Research and Development by The Private Operators
Market Leaders and their expansionary development strategies
In June 2020, the Teva pharmaceuticals industries ltd announced that the company will present the new data regarding AJOVY injection that will help to treat fibromyalgia.
In December 2020, Tonix pharmaceuticals announced that the company will achieve positive phase 3 results. The treatment will be used to treat fibromyalgia.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Providers of Fibromyalgia Treatment, Venture Capitalists and Private Equity Firms and End-Use Industry
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.