Fibromyalgia Treatment Market Size, Share, Outlook, and Opportunity Analysis,

Posted by Rajkumar on August 27th, 2019

Fibromyalgia is a common and complex chronic pain disorder that causes musculoskeletal pain, fatigue, and localized tenderness affecting individuals mentally, physically, and socially. Fibromyalgia is mainly caused due to genetic conditions, however actual cause is still unknown. The most common symptoms of fibromyalgia are fatigue, sleeping problems, chronic muscle pain, and tender points. An individual with fibromyalgia can also have symptoms such as headaches, poor concentration, and depression. Fibromyalgia symptoms might accumulate with time or it can be caused by some external factors. Fibromyalgia treatments include therapy, medications, regular aerobic exercise, stress reduction, and others. Furthermore, for treatment of fibromyalgia, antidepressants or pain medications are prescribed to treat depression, anxiety, pain, and fatigue.

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Robust pipeline of novel drugs are under late clinical trial phase for treatment of fibromyalgia

Market players are focusing on active research and development, in order to introduce new products in the market and increase treatment options. Approval and launch of novel fibromyalgia treatment drugs is expected to significantly support fibromyalgia treatment market growth over the forecast period.

For instance, manufacturers such as Aptinyx, Inc., Prismic Pharmaceuticals, Inc., Innovative Med Concepts, Inc., Intec Pharma Ltd., Astellas Pharma, Inc., and others have drugs in the pipeline indicated for the treatment of fibromyalgia.

Many such drugs are in phase 2 and phase 3 of clinical trials with commercialization potential. For instance, Astellas Pharma, Inc. has ASP0819 in phase 2 and IMC-1 that received fast track designation from the U.S. FDA in 2016.

The global fibromyalgia treatment market size was valued at US$ 2,778.6 Mn in 2018 and is expected to witness a CAGR of 3.3% during the forecast period (2018 – 2026).

Market Dynamics

Key players in the market are focusing on frequent research and development activities for development of novel medications for fibromyalgia treatment. Launch of novel drugs in the market for fibromyalgia is expected to boost the fibromyalgia treatment market growth over the forecast period. For instance, drug candidate IMC-1 is being developed by Innovative Med Concepts, which received fast track designation from the U.S. FDA in 2016

In December 2018, Aptinyx Inc. announced positive results from an interim analysis of an exploratory study of its novel NMDA receptor (NMDAr) modulator, NYX-2925, in subjects with fibromyalgia. Subjects in the study received daily oral doses of NYX-2925 at two dose levels, 20 mg and 200 mg, as well as placebo, over the course of six weeks.

Market Opportunity

Currently, there are limited number of approved treatment options for fibromyalgia. Several manufacturers have potential candidates in the pipeline (some in late stages as well). Hence, new players in the market also have opportunity to develop new drug candidate for treatment of fibromyalgia.

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Another opportunity is present in terms of generic drug manufacturing, as two of the drugs are expected to lose patent protection over the forecast period (Lyrica in 2019 and Savella in 2021, 2023, and 2029). Patent loss may be a restraint for the market, however, there is certainly an opportunity for generic manufacturers.

Key players operating in the fibromyalgia treatment market include Eli Lilly and Company, Pfizer, Inc., Novartis AG, Allergan plc, Sun Pharmaceutical Industries Ltd., Aptinyx, Inc., Prismic Pharmaceuticals, Inc., Innovative Med Concepts, Inc., Intec Pharma Ltd., and Astellas Pharma Inc.

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Rajkumar

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Rajkumar
Joined: February 13th, 2019
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