Fibromyalgia Treatment Market Trends

Growth Drivers

• Growing Prevalence of Fibromyalgia Treatment- There are numerous factors that is expected to drive the global fibromyalgia treatment market’s growth. However, the primary factor that is anticipated to grow the market is the rise in fibromyalgia globally. According to the National Institute of Arthritis and Musculoskeletal and Skin Diseases (NIAMS), 5 million Americans who are 18 years of age or older have fibromyalgia, and females make up between 80 and 90 percent of fibromyalgia patients. Additionally, there were nearly 1.75 million adults in England and Wales with fibromyalgia as of 2019.
• Increasing Government Initiatives - It is predicted that the market will increase as a result of the growing government initiatives that provide manufacturers and medical practitioners with guidance regarding fibromyalgia. For instance, the European League Against Rheumatism (EULAR) advised against using non-steroidal anti-inflammatory medicines (NSAID) to treat fibromyalgia in their 2016 recommendations. According to estimates, these policies will assist the affected population to manage their fibromyalgia and raise awareness of the condition.
• Worldwide Growing Incidences of Road Accidents - Road accidents are the most dreadful thing that happens to a road user, even though they occur quite frequently. The majority of fatal accidents are caused by excessive speeding, the use of alcohol, or any psychoactive substance or drug. These factors raise the risk of road accidents resulting in death or serious injury. Many times, the surviving person phases long-term disability or severe pain which turns into fibromyalgia disorder over time. Thus, increasing road accidents lead to the growing prevalence of fibromyalgia disorder. According to the World Health Organization statistics, road accidents claim the lives of around 1.3 million people every year across the globe. There are an additional 20 to 50 million people who sustain non-fatal injuries, many of whom proceed to suffer disabilities.
• Surge in Novel Drug Development – Chronic illness fibromyalgia substantially limits patients' ability to engage in typical social and professional activities and makes it difficult to maintain relationships with friends, family, and co-workers. The full spectrum of pain, tiredness, sleep disturbances, and depression symptoms is not completely addressed by any of the medicines currently available. However, the pharmaceutical industry's expanding endeavors have led to the launch of new experimental treatments by deploying novel drug delivery systems, a novel combination of already-approved drugs, as well as inquiries into the potential for using drugs already being prescribed for other ailments. For instance, in 2021, following a pre-NDA meeting with the US Food and Drug Administration, Axsome Therapeutics, Inc., which develops novel therapies for the treatment of central nervous system (CNS) disorders, announced its decision to submit a New Drug Application (NDA) for AXS-14 for the treatment of fibromyalgia (FDA). AXS-14 (esreboxetine) is a new oral, norepinephrine reuptake inhibitor that is both potent and selective.
• Worldwide Boost in the Population of People Above 60- As per the data released by the World Health Organization, the worldwide population of people aged 60 and over is projected to propagate from 1 billion in 2020 to 1.4 billion by 2030. By 2050, the world's population of people aged 60 and above is anticipated to double by 2.1 billion.

Challenges

• High Adoption of Generic Drugs - Only three medications are currently specifically licensed for the treatment of fibromyalgia. As a result, off-label medications and generic antidepressants are being used more frequently to treat the disease's symptoms. Therefore, it is expected to hamper the market’s growth.
• Side Effects Associated with the Use of Fibromyalgia Drugs - Suicidal ideation may be increased in some persons by certain medications. Nausea, headache, exhaustion, high blood pressure, racing heart, excessive sweating, agitation, cholesterol, triglyceride increase, and tremor are all possible side effects.
• Stringent Regulations of Government