Global Fibromyalgia Drugs Market 2015-2019
According to the National Institute of Arthritis and Musculoskeletal and Skin Diseases, fibromyalgia is a syndrome with an unknown cause and chronic pain and muscle tenderness as the major symptoms. Unlike arthritis, it does not cause joint, muscle or other tissue inflammation. However, fibromyalgia is known to cause impairment of joints, soft tissues, and causes significant pain and fatigue. Fibromyalgia affects women more than men. In the US, the condition affects more than 5 million people aged 18 years and above, of which 80-90% are women. There is no particular diagnostic test for detecting fibromyalgia, and physicians undertake differential diagnosis to check the presence of the syndrome. Currently in the US, only three drugs are approved to treat fibromyalgia. Off-label treatment is a popular option to treat fibromyalgia using analgesics, antidepressants, sedatives, neuroleptics, and muscle relaxants.
Technavio's analysts forecast the global fibromyalgia drugs market to grow at a CAGR of 0.79% over the period 2014-2019.
Covered in this Report
This report covers the present scenario and the growth prospects of the global fibromyalgia drugs market for 2015-2019. To calculate the market size, the report considers revenue generated from the sales of various drugs used in the treatment of fibromyalgia. Based on the chemical class of the drugs used to treat fibromyalgia, the market is segmented as follows:
Technavio Announces the Publication of its Research Report – Global Fibromyalgia Drugs Market 2015-2019
Technavio recognizes the following companies as the key players in the Global Fibromyalgia Drugs Market: Actavis, Eli Lilly and Pfizer
Other Prominent Vendors in the market are: Daiichi Sankyo, Innovative Med Concepts, Meda, Meiji Seika, Merck Sharp and Dohme, Switch Biotech, Theravance, Tonix and Zynerba Pharmaceuticals
Commenting on the report, an analyst from Technavio’s team said: “Pharmaceutical companies carry out small molecular changes on existing drugs and market them as me-too drugs. Vendors produce me-too drugs because of the increased expenditure associated with drug development and to overcome cost barriers. For instance, the CR formulation of Lyrica from Lyrica (pregabalin) by Pfizer is in phase III clinical trials. DS-5565 (mirogabalin) by Daiichi Sankyo is a me-too drug that is undergoing phase III clinical trials. These drugs are likely to be introduced in the market during the forecast period.”
According to the report, though fibromyalgia has no known cure, approved drugs such as Lyrica, Savella, and Cymbalta are currently used to provide symptomatic treatment, especially in the US. The market presents immense potential for pharmaceutical companies to invest in the R&D of drugs that can cure the condition. In addition, Cymbalta and Lyrica have several adverse effects that lead to noncompliance and drug regimen discontinuation among individuals with the condition. In EMEA and APAC, healthcare settings and patients opt for off-label and OTC drugs to treat the condition. These drugs also have severe side effects. This provides vendors with a huge opportunity to develop drugs that have a better safety and efficacy profile.
Further, the report states that adverse effects of drugs leads to a reduction in the sales and revenue of the drugs and a decline in the market value.
Actavis, Eli Lilly, Pfizer, Daiichi Sankyo, Innovative Med Concepts, Meda, Meiji Seika, Merck Sharp and Dohme, Switch Biotech, Theravance, Tonix, Zynerba Pharmaceuticals