During the course of the projected period, market growth is anticipated to be driven by the rising acceptance and introduction of novel fibromyalgia treatments. For example, Scilex Holding Corporation, Biopharmaceutical Company has committed to developing SP-104 as a treatment for fibromyalgia in May 2022. For the treatment of fibromyalgia, SP-104 is a brand-new medication with a fixed dose and delayed burst release of low dose naltrexone hydrochloride, 4.5 mg. In comparison to volunteers treated with immediate release naltrexone, SP-104 treated healthy volunteers exhibited decreased incidence of side events, according to data from phase 1 clinical trials.
The global Fibromyalgia Treatment Market is estimated to be valued at US$ 3,142.4 million in 2022 and is expected to exhibit a CAGR of 3.3% during the forecast period (2022-2030).
Key Competitors in the Fibromyalgia Treatment Industry:
1. Eli Lilly and Company
Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. Eli Lilly and Company was founded in 1876 and is headquartered in Indianapolis, Indiana.
2. Pfizer Inc.
Pfizer Inc. discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. Pfizer Inc. was founded in 1849 and is headquartered in New York, New York. The company has collaboration agreements with Bristol-Myers Squibb Company; Astellas Pharma US, Inc.; Myovant Sciences Ltd.; Akcea Therapeutics, Inc; Merck KGaA; Valneva SE; BioNTech SE; and Arvinas, Inc. on December 2022, Pfizer Presents Updated Favorable Elranatamab Data from Pivotal Phase 2 MagnetisMM-3 Trial, early and deep responses, and a manageable safety profile for elranatamab in heavily pretreated patients with advanced multiple myeloma
3. Novartis AG
Novartis AG researches, develops, manufactures, and markets healthcare products in Switzerland and internationally. The company operates through two segments: Innovative Medicines and Sandoz. Novartis AG was incorporated in 1996 and is headquartered in Basel, Switzerland. Novartis AG has a license and collaboration agreement with Alnylam Pharmaceuticals to develop, manufacture, and commercialize inclisiran, a therapy to reduce LDL cholesterol.
4. Sun Pharmaceutical Industries Ltd.
Sun Pharmaceutical Industries Limited, a generic pharmaceutical company, develops, manufactures, and markets branded and generic formulations and active pharmaceutical ingredients (APIs) in India and internationally. The company was founded in 1983 and is based in Mumbai, India.
5. Aptinyx, Inc.
Aptinyx Inc., a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of novel, proprietary, and synthetic small molecules for the treatment of brain and nervous system disorders. Aptinyx Inc. was incorporated in 2015 and is headquartered in Evanston, Illinois.
6. Astellas Pharma Inc.
Astellas Pharma Inc. engages in the manufacture, marketing, import, and export of pharmaceuticals in the Japan, United States, and internationally. Astellas Pharma Inc. was founded in 1923 and is headquartered in Tokyo, Japan. In January, 2023 Selecta Biosciences, Inc. and Astellas Pharma Inc. announced an exclusive licensing and development agreement for IdeXork (Xork). Xork is being studied as a potential next generation immunoglobulin G (IgG) protease that will be developed by Astellas for use with AT845, an investigational, adeno-associated virus (AAV)-based treatment for Late-Onset Pompe disease (LOPD) in adults.
7. Intec Pharma Ltd.
Establishment in 1990 was development of database software for epidemiology for collecting data about infection diseases. The company has headquarters situated in Bratislava, Slovakia.
8. Astellas Pharma Inc.
Astellas Pharma Inc. engages in the manufacture, marketing, import, and export of pharmaceuticals in the Japan, United States, and internationally. Astellas Pharma Inc. was founded in 1923 and is headquartered in Tokyo, Japan.
*Definition- Fibromyalgia, commonly known as fibromyalgia syndrome, is a persistent neurologic condition that results in excruciating pain throughout the body.
