Fibromyalgia Treatment Market 2022
A Fibromyalgia Treatment Market analysis framework is a useful tool that is mainly used by companies and industry owners. The primary purpose of the market analysis framework is to study the market for its product or services. Moreover, it is an essential tool that offers a better understanding of the market’s competitive dynamics based on the demand and supply of the product and services. It helps the companies know their position in the market regarding other competitors in the Fibromyalgia Treatment Market. This report offers you an idea of the untapped opportunities for the period of 2022-2031. There are many popular market analysis framework tools like SWOT analysis or Porter Five forces model, and much more. Hence, it helps the companies to analyze their competition and improve their strategy effectively.
The global fibromyalgia treatment market is estimated to be valued at US$ 1.2 Bn in 2021, and is expected to exhibit a CAGR of around 7% over the forecast period (2022 – 2031).
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Company Profiles:
- Pfizer, Inc.
- Eli Lilly and Company
- AbbVie, Inc.
- Teva Pharmaceutical Industries Ltd
- Sanofi
- GlaxoSmithKline plc.
- Bayer AG
- TONIX Pharmaceuticals Holdings Corp
- Virios Therapeutics, Inc.
- Aptinyx Inc.
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Key Takeaways from Market Study
- Under products, anticonvulsants hold the highest value in the market, as they help provide relief from pain and treat the same for a long term.
- By distribution channel, hospital pharmacies hold a notable revenue share of around 46%.
- North America accounted for a share of over 40% in 2020 to become the most lucrative among all regions, and is expected to show significant growth over the next ten years.
- Europe is the next dominating region with a market share of 20% in 2020, due to well-developed medical infrastructure largely supported by governments in the region.
“Increasing burden of chronic pain, rising incidence of traumatic stress and road accidents, growing awareness among the population, and increasing research & development activities are all expected to drive market growth,” says a Persistence Market Research analyst.
Collaborations and Acquisitions – Imperative Strategy for Market Players
Major companies are actively engaging in acquisitions and expansion in order to enhance their product portfolios and outreach to a large number of customers. Globally, leading companies, in order to maintain their market position, follow the trend of acquiring companies who are facing a large number of product recalls.
- In May 2020, AbbVie acquired Allergan plc, which helped the company broaden its existing portfolio and strengthen its presence in the global biopharmaceutical sector.
- In October 2020, FDS BioSciences, Inc. acquired a U.S.-based company, Prismic Pharmaceuticals, which is engaged in developing novel therapies for fibromyalgia treatment.
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What else is in the report?
Persistence Market Research offers a unique perspective and actionable insights on the fibromyalgia treatment market in its latest study, presenting historical demand assessment of 2016-2020 and projections for 2021-2031, based on product (anti-depressants, anticonvulsants, muscle relaxants, and analgesics) and distribution channel (hospital pharmacies, retail pharmacies, drug stores, and online sales), across seven key regions of the world.
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