FIBROMYALGIA TREATMENT MARKET ANALYSIS

Fibromyalgia Treatment Market Size and Trends

The fibromyalgia treatment market is estimated to be valued at USD 3.07 Bn in 2024 and is expected to reach USD 3.86 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 3.3% from 2024 to 2031.

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The fibromyalgia treatment market is witnessing positive growth trends over the past few years. There is higher disease awareness due to growth in diagnosis rates and development of novel treatment alternatives. Moreover, rising healthcare expenditure and presence of favorable reimbursement policies are also contributing to the market expansion. However, lack of cure and presence of alternative treatment options continue to hinder the market to a certain level. Strong product pipeline with drugs having novel mechanisms of action is further expected to bring more growth opportunities for market players in the near future.

Increasing research and development activities for the development of new therapies

Market players are focusing on active research and development, in order to introduce new products in the market and increase treatment options. For instance, in February 2022, Karabuk University, University in Turkey, in collaboration with SULEYMAN ERSOY, Saglik Bilimleri University, carried out research on new therapy called wet cupping therapy (WCT) for the treatment of fibromyalgia. The aim of this study was to evaluate the effects of wet cupping therapy (WCT) on fibromyalgia syndrome. The patients will be randomized into two groups. WCT was applied once a month to patients in the intervention group while the control group will be on standard therapy for fibromyalgia. An evaluation will be made before treatment and at the 3rd month using the Fibromyalgia Impact Survey (FEA), VAS, and EuroQol-5D (EQ-5D-3L) quality of life scale.

Increasing approval and launch of novel fibromyalgia treatment are expected to drive the market growth over the forecast period. For instance, in May, 2022, Scilex Holding Company, a biopharmaceutical company, committed to develop SP-104 for fibromyalgia treatment. SP-104 is a novel, proprietary, fixed dose, delayed burst release of low dose naltrexone hydrochloride, 4.5 mg, for the treatment of fibromyalgia. Phase 1 clinical trial data showed that SP-104 treated healthy volunteers and had lower rates of adverse events, as compared with immediate release naltrexone -treated volunteers.