Fibromyalgia Treatment Market to Surpass $2.8 Billion by 2034, Growing at 6.9% CAGR | Fact.MR Report

Growing Prevalence of Fibromyalgia to Propel Fibromyalgia Treatment Demand Globally

ROCKVILLE, MD, UNITED STATES, January 31, 2025 /EINPresswire.com/ -- The global fibromyalgia treatment market value is estimated to total US$ 1,445.8 million in 2024 and US$ 2,830.1 million by 2034. Over the forecast period, fibromyalgia treatment demand is projected to rise with a healthy CAGR of 6.9%.

Antidepressants and anticonvulsants are expected to remain widely consumed medications for the management of fibromyalgia. This is attributable to their effectiveness in relieving fibromyalgia pain. The target segments are set to record CAGRs of 7.9% and 6.4%, respectively, through 2034.

The global market for fibromyalgia treatments is poised to exhibit a strong growth trajectory during the forecast period. This is due to the rising prevalence of fibromyalgia globally and the development of new therapies.

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Fibromyalgia medications are witnessing significant demand across the world. They are increasingly consumed by patients who have fibromyalgia to reduce different symptoms, including pain and anxiety, and improve quality of life.

The rising incidence of fibromyalgia is acting as a catalyst fueling sales of fibromyalgia treatments. This chronic disorder is incurable, prompting patients to opt for medications that can lower its symptoms. As the cases of fibromyalgia continue to rise, so will the demand for fibromyalgia treatment medications.

Growing awareness and understanding of fibromyalgia, particularly across nations like India, is anticipated to foster growth of the fibromyalgia treatment market. Similarly, increasing government support, rising diagnostic rates, and the development of novel medications will benefit the market.

The market is also facing certain challenges that are limiting its expansion. These include limited availability of approved medications and side effects associated with drugs like antidepressants.

Key Takeaways from the Market Study

The global market for fibromyalgia treatment is set to total US$ 2,830.1 million by 2034. Based on drug class, the anticonvulsants segment is expected to account for a revenue share of 52.6% in 2034.

By distribution channel, the online pharmacies segment is expected to grow at a high CAGR of 8.6% through 2034. The North America market size is predicted to total US$ 1,128 million in 2034.

Sales in East Asia are projected to rise at 10.3% CAGR through 2034. Overall revenue in the United States is set to total US$ 939 million by 2034. China will likely thrive with a CAGR of 11.4% from 2024 to 2034.

“Increasing efforts of pharmaceutical companies and research institutions to explore the underlying cause of fibromyalgia, along with the development of novel therapies, will likely boost the fibromyalgia treatment industry through 2034. To gain maximum benefits, key players will look to launch new drugs as well as get approval from regulatory bodies," says a Fact.MR analyst.

Leading Players Driving Innovation in the Fibromyalgia Treatment Market:

FSD Pharma; AbbVie, Inc.; Pfizer, Inc.; Sanofi; Bayer AG; GlaxoSmithKline plc.; Teva Pharmaceutical Industries Ltd.; Aptinyx Inc.; Johnson & Johnson Services, Inc.; Virios Therapeutics, Inc.; TONIX Pharmaceutical Holdings Corp; Eli Lilly and Company.

Who is Winning?

Key players in the fibromyalgia treatment market include FSD Pharma, AbbVie, Inc., Pfizer, Inc., Sanofi, Bayer AG, GlaxoSmithKline plc., Teva Pharmaceutical Industries Ltd., Aptinyx Inc., Johnson & Johnson Services, Inc., Virios Therapeutics, Inc., TONIX Pharmaceutical Holdings Corp, and Eli Lilly and Company.

These top companies are focusing on developing novel fibromyalgia medications which can effectively reduce symptoms of fibromyalgia. They are also looking to get fast-track drug approval from regulatory bodies like the Food and Drug Administration (FDA).

Several companies are also implementing strategies like partnerships, distribution agreements, alliances, collaborations, and acquisitions to expand their footprint and stay ahead of the competition.

Recent Developments in the Fibromyalgia Treatment Market:

In April 2021, Lucid Psycheceuticals Inc., the Canada-based specialty psychedelic pharmaceutical business, was acquired by FSD Pharma Inc.

In January 2020, Axsome Therapeutics entered into an exclusive agreement with Pfizer Inc. to develop and commercialize esreboxetine, a novel late-stage product, in the United States to treat fibromyalgia.

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"In the United States, the rising prevalence of fibromyalgia is driving demand."

In 2034, the market for fibromyalgia treatments in the US is projected to be worth US$ 939 million. The demand for fibromyalgia treatments in the US is expected to increase at a 5.2% CAGR over the forecast period.

The fibromyalgia treatment market in the US is predicted to rise due to a number of causes. These include the expanding prevalence of fibromyalgia, the desire for individualized care, the accessibility of generic medications, and the general public's high degree of health consciousness.

Over the past few years, fibromyalgia cases have increased in the United States. The National Fibromyalgia Association (NFA) estimates that 10 million Americans suffer with fibromyalgia.

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