According to a new report published by KD Market Insights, titled, “Fibromyalgia Treatment Market Insights, Trends, Opportunity Forecast, 2023–2032,” the global fibromyalgia treatment market size is anticipated to witness moderate growth during the forecast period i.e., 2023-2032. The growing incidence of fibromyalgia, expanding healthcare infrastructure, more and more centered on affected person-centered care and creation of superior technology, such as telemedicine and digital fitness. Which are the major factors augmenting the growth of the global fibromyalgia treatment market. The global fibromyalgia treatment market is anticipated to grow at a steady CAGR of 3.3% from 2023 to 2032. The market's revenue surged to $3.1 billion in 2022, and it is expected to further accelerate, reaching a notable $4.2 billion by 2032.
The rising occurrence of fibromyalgia and the necessity, for treatment choices drive the demand for both medications and non-medicinal interventions, are further expected to create ample growth opportunities for the global fibromyalgia treatment market during the forecast period i.e., 2023-2032. Moreover, the requirement for treatment options necessitates inclusive and holistic approaches to managing this condition. The escalating interest in therapies, like acupuncture and massage therapy, has propelled market expansion. The expanding healthcare infrastructure in developing regions, is expected to contribute towards the market growth during the period.
The North America region accounted for the largest share in the global fibromyalgia treatment market in 2022. The region is further projected to continue dominating in the market during the forecast period. This can be attributed to the high prevalence of fibromyalgia in the region, as well as the growing awareness about the condition.
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According to drug class, the anticonvulsants segment accounted for the largest market share in the fibromyalgia treatment market in 2022 and is further expected to continue with the trend during the forecast period i.e., 2023 – 2032.
The global fibromyalgia treatment market is segmented into drug class, distribution channel and region. Based on drug class, the market is bifurcated into antidepressants, anticonvulsants, muscle relaxants, others. Based on distribution channel, it is classified into hospital pharmacies, drug stores and retail pharmacies, online providers.
The global fibromyalgia treatment market is analyzed across North America (U.S. Canada), Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, India, Japan, South Korea, Indonesia, Thailand, Australia, New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and the Rest of Latin America) and Middle East Africa (GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, and Rest of Middle East Africa).
Key Insights of Fibromyalgia Treatment Market
- On the basis of drug class, the anticonvulsants segment accounted for the largest market share in the fibromyalgia treatment market in 2022 and is further expected to continue with the trend during the forecast period i.e., 2023 – 2032.
- On the basis of region, North America accounted for the largest share in the global fibromyalgia treatment market in 2022. The region is further projected to continue dominating in the market during the forecast period.
- On the basis of region, Europe is estimated to account for the second largest share in the market during the forecast period.
Some of the major fibromyalgia treatment companies profiled in the report include AbbVie Inc., Eli Lilly and Company, Novartis AG, Teva Pharmaceutical Industries Ltd., Sun Pharmaceutical Industries Limited, Amneal Pharmaceuticals LLC, Zydus Lifesciences Limited, Abbott Laboratories, Viatris Inc., Lupin Limited.
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