Fibromyalgia Treatment Market Expected to Reach $4.6 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Fibromyalgia Treatment Market," The fibromyalgia treatment market size was valued at $3.1 billion in 2022, and is estimated to reach $4.6 billion by 2032, growing at a CAGR of 4.0% from 2023 to 2032.

Fibromyalgia, a complex chronic pain condition, is characterized by widespread pain, fatigue, sleep disturbances, and other chronic symptoms. It affects a substantial number of individuals worldwide, and the rising prevalence of fibromyalgia is one of the key drivers strengthening the growth of fibromyalgia treatment market share. Moreover, improved diagnosis and rise in awareness among healthcare professionals and patients have contributed to a better understanding of fibromyalgia, leading to earlier identification and treatment.

Furthermore, the development of specific diagnostic criteria, along with increased knowledge about the condition, has paved the way for improved patient management and enhanced quality of life. Thus, all the abovementioned factors have notably contributed to the expansion of fibromyalgia treatment market size.

Furthermore, a robust pipeline of products for treatment of fibromyalgia adds to the market growth potential. Ongoing research and development efforts by pharmaceutical companies, researchers, and healthcare professionals have resulted in the development of novel medications and therapies specifically targeting fibromyalgia. These advancements hold the potential of more effective and safer treatment options for patients, thus driving the growth of fibromyalgia treatment market share.

In addition, the launch of generic drugs is one of the major fibromyalgia treatment market trends. The availability of generic drugs provides cost-effective alternatives to brand-name medications. Treatment of fibromyalgia often involves long-term management with medications, and the high cost of branded drugs can create barriers to access for many patients. The introduction of generic versions of these medications allows for more affordable options, increasing the accessibility of treatment for a larger patient population. This, in turn, expands the market by reaching a broader segment of individuals with fibromyalgia who may have previously been unable to afford or access the necessary medications.

The global fibromyalgia treatment market analysis is done on the basis of drug class, distribution channel and region. Depending on drug class, the market is segmented into antidepressants, anticonvulsants, muscle relaxants, and others. The anticonvulsants segment exhibited the highest growth in terms of revenue in 2022, which is attributed to the advantages that these drugs offer in fibromyalgia treatment. Anticonvulsant medications, such as pregabalin (Lyrica) and gabapentin (Neurontin), have shown effectiveness in reducing pain symptoms associated with fibromyalgia. These medications work by modulating the activity of certain neurotransmitters involved in pain processing. The positive outcomes reported by patients using anticonvulsants for fibromyalgia pain management have contributed to increased prescription rates and, consequently, revenue growth in this segment.

On the other hand, the antidepressants segment is anticipated to witness fastest growth during the fibromyalgia treatment market forecast period. While antidepressants are primarily prescribed for depression and anxiety disorders, their effectiveness in managing fibromyalgia symptoms has led to their off-label use for this condition. This expanded indication and increase in recognition of antidepressants as viable treatment option for fibromyalgia will result in increased prescription rates, and is anticipated to be the fastest growing segment during the forecast period. 

In addition, antidepressants are often used as part of combination therapy for fibromyalgia management. Healthcare providers may prescribe a combination of antidepressants with other medications, such as pain relievers or anticonvulsants, to address the diverse symptoms and improve overall outcomes. The use of antidepressants in combination therapy boosts their demand, thus contributing toward the revenue growth.

Based on distribution channel, the market is segmented into hospital pharmacies, drug stores & retail pharmacies, and online providers. The drug stores & retail pharmacies segment exhibited highest growth in terms of revenue in 2022, due to advantages offered by drug stores & retail pharmacies over other distribution channels. Drug stores & retail pharmacies are often conveniently located and easily accessible, making it easy to purchase medications when needed. Patients can simply walk in and purchase the medications with or without the need for a prescription.

On the other hand, the online providers segment is anticipated to grow at the fastest rate during the forecast period. This is attributed to the fact that online providers offer a high level of convenience for patients, who can order medications from the comfort of their own home or workplace, without the need to physically visit a retail store. In addition, it often has a wider selection of brands available for purchase and can be especially beneficial for patients who require a specific brand of medication that may not be readily available in their local area. 

Region wise, North America garnered the highest market share in 2022 due to surge in demand for efficient and high-quality medications for fibromyalgia treatment owing to rise in number of fibromyalgia cases. Availability of well-trained healthcare providers and well-established healthcare services is further expected to increase the diagnosis rate of fibromyalgia in this region, which, in turn, is likely to boost that fibromyalgia treatment industry growth. 

However, Asia-Pacific is expected to witness the highest growth in the market during the forecast period. This is attributed to the presence of high population base and increase in geriatric population along with rise in awareness among the population regarding fibromyalgia. In addition, camps and drives organized by the healthcare government in Asia-Pacific region raising awareness about fibromyalgia is anticipated to boost the fibromyalgia treatment industry growth in future.

Key findings of the study

• Based on drug class, the anticonvulsants segment was the highest contributor to the market in 2022; however, the antidepressant segment is anticipated to grow at a fastest rate during the forecast period.
• By distribution channel, the drug stores & retail pharmacies segment dominated the market in 2022, whereas the online providers segment is anticipated to grow at the highest CAGR during the forecast period.

• Region wise, North America generated the largest revenue in 2022. However, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.