The Europe Fibromyalgia Treatment Market would witness market growth of 4.0% CAGR during the forecast period (2023-2030).
Fibromyalgia is now more well-known and diagnosed, which has increased the number of patients seeking therapy. More people are expected to receive the correct diagnosis and therapy for their fibromyalgia symptoms as the public and professional understanding of the disorder increases. The disease's rising prevalence and awareness influence the market share.
The market is expanding partly because generic drugs for treating fibromyalgia are now easier to obtain. Numerous advantages that have a positive market impact come from the availability of generic versions of drugs licensed for treating fibromyalgia. When compared to their branded counterparts, generic drugs are less expensive. This accessibility is enhanced by this affordability, especially for people with limited budgets or without complete insurance coverage, which promotes market expansion.
On the contrary, medical professionals and pharmaceutical firms are looking into and creating fresh fibromyalgia therapy choices. These include drugs that treat the condition's underlying causes and symptoms specifically. Thus, the availability of novel treatments gives patients and healthcare professionals more options for therapy, which is expected to fuel the market throughout the forecast period.
Fibromyalgia can be challenging to diagnose, which is one of the primary reasons it is unclear how many people are afflicted. There is no specific diagnostic test for the condition, and the symptoms may resemble those of several other conditions. In Italy, fibromyalgia (FM), the most common cause of widespread musculoskeletal pain, is estimated to afflict 2% of the Italian general population. However, it is not a uniform clinical entity, and several interacting factors can impact patient prognosis and the outcomes of standard treatment programs. Hence, a significant presence of fibromyalgia in the general population is expected to increase the demand for treatment options and propel market growth in Europe.
The Germany market dominated the Europe Fibromyalgia Treatment Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $267 million by 2030. The UK market is anticipated to grow at a CAGR of 3.1% during (2023 - 2030). Additionally, The France market would showcase a CAGR of 4.7% during (2023 - 2030).
Based on Drug Class, the market is segmented into Anticonvulsants, Antidepressants, Muscle Relaxants and Others. Based on Distribution Channel, the market is segmented into Drug stores & Retail Pharmacies, Hospital Pharmacies and Online Providers. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide Fibromyalgia Treatment Market is Projected to reach USD 4 Billion by 2030, at a CAGR of 4.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include AbbVie, Inc., Novartis AG, Eli Lilly And Company, Amneal Pharmaceuticals, Inc., Teva Pharmaceuticals Industries Ltd., Zydus Lifesciences Ltd., Lupin Limited, Abbott Laboratories, Viatris, Inc., and Sun Pharmaceutical Industries Ltd.
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