Fibromyalgia Treatment Market Size, Share, Growth Analysis, By Drug class, By Distribution Channels, By Region - Industry Forecast 2024-2031

Fibromyalgia Treatment Market size was valued at USD 1.3 billion in 2022 and is poised to grow from USD 1.39 billion in 2023 to USD 2.39 billion by 2031, growing at a CAGR of 7.00% in the forecast period (2024-2031).

Fibromyalgia is a chronic pain disorder characterized by widespread pain, fatigue, and additional symptoms such as sleep disturbances and mood swings. It affects approximately 2% of the global adult population, with a higher prevalence among women than men. Despite extensive research, there is currently no cure for fibromyalgia. However, various treatments are available to help alleviate symptoms and enhance the quality of life for those affected. Treatment approaches typically include medications, lifestyle adjustments, and non-pharmacological therapies. The objective is to alleviate pain, improve sleep patterns, address psychological challenges, and enhance overall well-being. The complex nature of fibromyalgia management underscores the need for personalized treatment plans tailored to individual needs and responses.

Top-down and bottom-up approaches were used to estimate and validate the size of the Fibromyalgia Treatment market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Fibromyalgia Treatment Market Segmental Analysis

Global Fibromyalgia Treatment Market is segmented based on drug class, distribution channels, and region. Based on drug class, the market is segmented into antidepressants, antiepileptic, muscle relaxants, and others. Based on distribution channels, the market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Drivers of the Fibromyalgia Treatment Market

Several factors contribute to the expansion of the global fibromyalgia treatment market, primarily driven by the rising prevalence of fibromyalgia on a global scale. According to the National Institute of Arthritis and Musculoskeletal and Skin Diseases (NIAMS), approximately five million adults aged 18 and older are affected by fibromyalgia in the United States alone. Notably, 80 to 90 percent of fibromyalgia patients are women, underscoring the significant impact of this condition on the female population. Increased awareness of fibromyalgia and advancements in diagnostic capabilities are also fostering greater recognition of the disorder worldwide.

Restraints in the Fibromyalgia Treatment Market

The scarcity of drugs approved specifically for treating fibromyalgia has resulted in only three available options. Consequently, there is growing reliance on off-label medications and personalized antidepressants to manage the disease's symptoms. In June 2019, Pfizer's loss of patent protection for Lyrica, the initial drug approved for fibromyalgia treatment, had a profound impact on its market revenue. The expiration of patent protection allowed generic versions of Lyrica to enter the market, intensifying competition and leading to a subsequent decline in overall market value.

Market Trends of the Fibromyalgia Treatment Market

Major players in the global fibromyalgia treatment market are actively pursuing innovative therapies to sustain or expand their market presence. The introduction and approval of emerging treatments for fibromyalgia are expected to significantly contribute to market growth during the forecast period. One notable example is galcanezumab, developed by Eli Lilly & Co., which is currently undergoing Phase IV clinical trials from January 2021 to December 2021 specifically for treating fibromyalgia. This expansion into new indications underscores the commitment of leading pharmaceutical companies to address the complex and evolving requirements of fibromyalgia patients.