Fibromyalgia Treatment Market to Surpass US$ 3,607.3 Million by 2026 – Coherent Market Insights

Pune, INDIA


SEATTLE, May 10, 2019 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the fibromyalgia treatment market was valued at US$ 2,778.6 million in 2018 and is projected to exhibit a CAGR of 3.3% over the forecast period (2018–2026).

Key Trends and Analysis of the Fibromyalgia Treatment Market:

Key players in the market are involved in robust research and development activities for the development of novel therapies indicated for treatment of fibromyalgia. Launch of novel treatments is expected to significantly drive the global fibromyalgia treatment market growth over the forecast period.

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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. Astellas Pharma, Inc. has ASP0819 in phase 2 and IMC-1 that received fast track designation from the U.S. FDA in 2016.

Intec Pharma Ltd. announced the initiation of Phase I clinical trial of AP-CBD/THC, it's Accordion Pill platform with two primary cannabinoids contained in Cannabis sativa, cannabidiol (CBD) and tetrahydrocannabinol (THC), for various indications, including low back pain and fibromyalgia, in 2017.

Moreover, increasing penetration of generic fibromyalgia treatment drugs globally is expected to increase affordability of patients and drive global fibromyalgia treatment market growth over the forecast period. For instance, leading generic manufacturers such as Sun Pharmaceutical Industries Ltd., Mylan N.V., and Teva Pharmaceutical Industries Ltd. launched generic drugs for fibromyalgia treatment in the market.

Furthermore, high prevalence of fibromyalgia in key regions is expected to be another factor increasing demand for its treatment therapies and driving the global fibromyalgia treatment market growth. For instance, according to the National Fibromyalgia Association, 2015, fibromyalgia affects an estimated 10 million people in the U.S

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/fibromyalgia-treatment-market-1691

Key Market Takeaways:

  • The market is expected to exhibit a CAGR of 3.3% during the forecast period (2018–2026), owing to robust pipeline and high prevalence of fibromyalgia
  • Key players in the market are involved in extensive research and development, product development, patent extension, and other activities to gain major share in the market
  • North America fibromyalgia treatment market is expected to hold largest market share over the forecast period in the global fibromyalgia treatment market, owing to potential customer base, new product launches, and presence of leading manufacturers in the region
  • Generic manufacturers such as Teva Pharmaceutical Industries Ltd., Mylan N.V., and others have launched generic drugs in North America region, which has supported growth of the market
  • Several manufacturers such as Aptinyx, Inc., Prismic Pharmaceuticals, Inc., and Innovative Med Concepts, Inc. have drugs in the pipeline for the treatment of fibromyalgia
  • Some of the major players operating in the global 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.

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.


        

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