Market Analysis and Insights: Global Fibromyalgia Market
The global fibromyalgia market is expected to witness significant growth during the forecast period. Emerging markets and huge investment in research and development are the factors responsible for the growth of this market.
The growth of global fibromyalgia market enhanced by the growing cases of fibromyalgia and rise in research and development activities conducted by many pharmaceuticals’ companies. According to the European Network of Fibromyalgia Associations (ENFA), approximately 14 million people are affected in Europe with this disease and around 400 million globally. COVID-19 also had a major impact on the market growth.
Data Bridge Market Research analyses a growth rate in the global fibromyalgia market in the forecast period 2022-2029. The expected CAGR of global fibromyalgia market is tend to be around 7% in the mentioned forecast period. The market was valued at USD 2.1 billion in 2021, and it would grow upto USD 3.61 billion by 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Fibromyalgia is the disorder characterized by the common musculoskeletal pain followed by sleep, memory, fatigue and mood issues. It is believed that fibromyalgia causing painful sensation by affecting the way brain processes pain signals. Although the reason behind the fibromyalgia is not known properly, it is believed that due to the genetic history, chronic infection and physical & emotional trauma may causes fibromyalgia. Females are at more risk than the males. Rheumatoid arthritis, osteoarthritis or lupus are also reasons for fibromyalgia.
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Global Fibromyalgia Market Scope and Market Size
Fibromyalgia market is segmented on the basis of diagnosis, treatment, route of administration, end-users and distribution channel.
· On the basis of diagnosis, the fibromyalgia market is segmented into blood tests and others. Blood test segment further divided into complete blood count, erythrocyte sedimentation rate, cyclic citrullinated peptide test, rheumatoid factor test, thyroid function tests and others.
· On the basis of treatment, the fibromyalgia market is segmented into medication, therapy and others. Medication segment further divided into pain relievers, antidepressants, anti-seizure drugs, muscles relaxant and others. Therapy segment is further bifurcated into physical therapy, occupational therapy, counselling and others.
· Route of administration segment of fibromyalgia market is segmented into oral, parenteral and others
· On the basis of end-users, the fibromyalgia market is segmented into hospitals, specialty clinics and others
· On the basis of distribution channel, the fibromyalgia market has also been segmented into hospital pharmacy, retail pharmacy, others
Fibromyalgia Market Country Level Analysis
Fibromyalgia is analysed and market size information is provided by country, diagnosis, treatment, route of administration, end-users and distribution channel as referenced above.
The countries covered in the fibromyalgia market report are U.S., Canada, Mexico in North America, Brazil, Argentina, Peru, Rest of South America, as part of South America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Hungary, Lithuania, Austria, Ireland, Norway, Poland, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Vietnam, Rest of Asia-Pacific, in Asia-Pacific, U.A.E, Egypt, Israel, Kuwait, Saudi Arabia, South Africa, Rest of Middle East and Africa, as a part of Middle East and Africa.
North America accounts the largest market share due to increasing geriatric population, increasing initiatives taken by the pharmaceutical organizations to generate novel formulation specific for arthritis population. Europe is considered to be second largest market for fibromyalgia due to increased musculoskeletal pain & related disorders. Asia-Pacific is expected to account for the largest market share over coming years for the fibromyalgia market due to increasing initiatives taken by the government and pharmaceutical organizations to spread awareness and presence of generic manufacturer.
The country section of the report also provides individual market impacting factors and changes in regulations in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, disease epidemiology and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
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Competitive Landscape and Fibromyalgia Market Share Analysis
Fibromyalgia market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, company strengths and weaknesses, product launch, clinical trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to fibromyalgia market.
Some of the Major Key players of the industry
The major players covered in the fibromyalgia market are Johnson & Johnson Services, Inc., GlaxoSmithKline Plc., Bayer AG, Teva Pharmaceutical Industries Ltd., Perrigo Company plc, Sun Pharmaceutical Industries Ltd., Cipher Pharms Inc., Novartis AG, Pfizer Inc., Eli Lilly & Company, and Aurobindo Pharma among others.
Patient Epidemiology Analysis
Fibromyalgia market also provides you with detailed market analysis for patient analysis, prognosis and cures. Prevalence, incidence, mortality, adherence rates are some of the data variables that are available in the report. Direct or indirect impact analysis of epidemiology to market growth are analysed to create a more robust and cohort multivariate statistical model for forecasting the market in the growth period.
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