U.S. Fibromyalgia Treatment Market Size By Drug Class (Antidepressants, Anticonvulsants), By Distribution Channel (Hospital Pharmacies, Drug Stores and Retail Pharmacies), By Geographic Scope And Forecast
Published on: 2024-08-07 | No of Pages : 320 | Industry : latest updates trending Report
Publisher : MIR | Format : PDF&Excel
U.S. Fibromyalgia Treatment Market Size By Drug Class (Antidepressants, Anticonvulsants), By Distribution Channel (Hospital Pharmacies, Drug Stores and Retail Pharmacies), By Geographic Scope And Forecast
U.S. Fibromyalgia Treatment Market Size And Forecast
U.S. Fibromyalgia Treatment Market size was valued at USD 797.98 Million in 2022 and is projected to reach USD 1,017.47 Million by 2030, growing at a CAGR of 3.07% from 2024 to 2030.
The prevalence of fibromyalgia is closely associated with aging, and with the global population aging at an unprecedented rate, the number of individuals affected by fibromyalgia is expected to rise significantly. The U.S. report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
U.S. Fibromyalgia Treatment Market Definition
The Fibromyalgia Treatment market refers to the healthcare sector focused on providing various treatment options and therapies for individuals suffering from fibromyalgia, a chronic pain disorder characterized by widespread musculoskeletal pain, fatigue, sleep disturbances, and cognitive issues. This market encompasses pharmaceuticals, medical devices, therapies, and alternative treatments aimed at managing and alleviating the symptoms associated with fibromyalgia. Pharmaceutical companies are continuously researching and developing new medications specifically designed to treat fibromyalgia symptoms. These may include pain relievers, antidepressants, and anticonvulsants, among others.
There is a growing trend towards non-pharmacological treatments such as physical therapy, exercise, cognitive-behavioral therapy (CBT), and acupuncture, as they are often considered safer and more sustainable options. The use of digital health technologies, including mobile apps, wearables, and telemedicine, is on the rise for remote monitoring, symptom tracking, and providing support to fibromyalgia patients. Tailoring treatments to individual patients based on their symptoms, genetics, and responses to various therapies is gaining prominence, leading to more effective and efficient care. Patient advocacy groups and healthcare providers are emphasizing education and support to empower fibromyalgia patients in managing their condition, leading to better outcomes. Complementary and alternative medicine (CAM) approaches like acupuncture, yoga, and herbal remedies are being explored by patients seeking alternative ways to manage fibromyalgia symptoms.
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U.S. Fibromyalgia Treatment Market Overview
The increase underscores the substantial unmet medical need for effective treatments. This unmet need represents a significant market opportunity as pharmaceutical companies and researchers strive to develop innovative therapies to address the growing demand for fibromyalgia treatment. The prevalence of fibromyalgia is closely associated with aging, and with the global population aging at an unprecedented rate, the number of individuals affected by fibromyalgia is expected to rise significantly. This demographic trend presents a substantial market opportunity for pharmaceutical companies and healthcare providers to cater to the needs of an aging population requiring fibromyalgia treatment.
There is a noticeable increase in public awareness regarding fibromyalgia. As more people become informed about the condition and its impact, there is likely to be greater demand for effective treatments. This heightened awareness not only benefits patients but also creates a favorable environment for market expansion, as patients and healthcare providers seek better solutions. The increasing incidence of anxiety and depression among fibromyalgia patients presents an additional opportunity within the market. There is a growing recognition of the mental health challenges that often accompany fibromyalgia. Consequently, pharmaceutical companies may develop treatments that not only address physical symptoms but also provide relief from associated psychological issues, thus catering to a broader spectrum of patient needs.
U.S. Fibromyalgia Treatment MarketSegmentation Analysis
The U.S. Fibromyalgia Treatment Market is segmented on the basis of Drug Class, Distribution Channel, and Geography.
U.S. Fibromyalgia Treatment Market, By Drug Class
- Antidepressants
- Anticonvulsants
- Muscle Relaxants
- Others
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Based on Drug Class, the market is segmented into Antidepressants, Anticonvulsants, Muscle Relaxants, and Others. Anticonvulsants accounted for the largest market share of 56.17% in 2022, with a market value of USD 448.26 USD Million, and is projected to grow at a CAGR of 3.13% during the forecast period.
U.S. Fibromyalgia Treatment Market, By Distribution Channel
- Hospital Pharmacies
- Drug Stores and Retail Pharmacies
- Online Providers
Based on Distribution Channel, the market is segmented into Hospital Pharmacies, Drug Stores and Retail Pharmacies, and Online Providers. Drug Stores and Retail Pharmacies accounted for the largest market share of 45.48% in 2022, with a market value of USD 362.89 USD Million, and is projected to grow at a CAGR of 2.50% during the forecast period.
U.S. Fibromyalgia Treatment Market, By Geography
- Northeast U.S.
- Southwest U.S.
- West U.S.
- Southeast U.S.
- Midwest U.S.
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On the basis of Geography, the U.S. Fibromyalgia Treatment Market is classified into Northeast U.S., Southwest U.S., West U.S., southeast U.S., and Midwest U.S. South East U.S. accounted for the largest market share of 29.10% in 2022, with a market value of USD 232.24 USD Million and is projected to grow at a CAGR of 3.21% during the forecast period.
Key Players
The “U.S. Fibromyalgia Treatment Market” study report will provide valuable insight with an emphasis on the market. The major players in the market are Pfizer Inc., Eli Lilly and Company, Johnson & Johnson, Purdue Pharma, Allergan, Eversana, Teva Pharmaceuticals, Endo International, Jazz Pharmaceuticals, AstraZeneca, Forest Laboratories (AbbVie), Astellas Pharma, Mylan N.V., Depomed, Scilex Pharmaceuticals, Zydus Pharmaceuticals Inc., Ampel Bio Solutions Inc, Exagen Diagnostics Inc., Grunenthal Group.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis.
Report Scope
Report Attributes | Details |
---|---|
Study Period | 2019-2030 |
Base Year | 2022 |
Forecast Period | 2024-2030 |
Historical Period | 2019-2021 |
Unit | Value (USD Million) |
Key Companies Profiled | Pfizer Inc., Eli Lilly and Company, Johnson & Johnson, Purdue Pharma, Allergan, Eversana, Teva Pharmaceuticals, Endo International, Jazz Pharmaceuticals, AstraZeneca. |
Segments Covered |
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Customization scope | Free report customization (equivalent to up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support
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