The Global Fibromyalgia Treatments Market is driven by some of the prominent players including A&S Pharmaceutical Corp, Leiner Health Products, Inc., LNK International, Inc., Pharmaceutical Formulations, Inc., Bayer Healthcare, Sanofi, Endo International, Johnson & Johnson, Purdue Pharma, Teva Pharmaceutical Industries Ltd., Eli Lilly and Company, Pfizer Inc., and Merck & Co., Inc. Acknowledging, the sedulous work of these key players, MRFR profiles them in its market analysis.
Fibromyalgia, often abbreviated to FM is believed to have no cure and only its symptoms can be treated to make the condition manageable. FM Treatments accentuate on reducing pain, improving sleep by prescribing antidepressants coupled with the other treatments such as counselling, cognitive behaviour therapy (CBT), and exercise that benefits in reducing pain and relaxation techniques help reducing muscles tension. Over the last few years, thanks to the technological advancements, that has brought innovations in Fibromyalgia treatments, offering phenomenal relief and benefitting results and proving to be a boon to the patients by improving their quality of life. This has provided impetus to the market growth of Fibromyalgia Treatments.
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Accrediting the sedulous work of the key players, who brought novelties in FM treatments helping the FM market to gain increasing traction and grow widely, the Market Research Future, has recently published a meticulous study report, giving out the complete market prognosis up to 2022. According to which, the Global Fibromyalgia Treatments Market is expected to grow further continuing with the same trends over the forecast period. The market is forecasted to demonstrate a spectacular growth by 2022, surpassing its previous growth records in terms of value.
Augmented prevalence rate of fibromyalgia is one of the prime factors that propel the market growth of Fibromyalgia Treatment market. The market is anticipated to progress massively in the near future. as many new treatments will emerge and treating the disease more effectively increasing success rates. There have been a significant numbers of technological advancements in the medical science which will result in fostering the growth of fibromyalgia treatment market globally. The increasing demand for fibromyalgia treatments in North American countries like US and Canada is anticipated to push the market growth of Fibromyalgia Treatment market to the ascended level.
On the other hand factors such as the unmet medical needs are likely to pose challenges to the growth of Fibromyalgia Treatment market. Adversely, growing technology in the healthcare industry plays a major role in the growth of this market as new techniques have been evolved for the treatment of fibromyalgia diseases which are growing effectively and efficiently, which makes the demand for Fibromyalgia Treatment grow eventually.
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Fibromyalgia Treatments Global Market – Competitive Analysis
The global market of Fibromyalgia Treatments appears to be highly competitive with the presence of several well-established and small players. Well established players incorporate acquisition, collaboration, partnership, expansion, and technology launch in order to gain competitive advantage in this market. Top players are investing heavily in R&D and clinical trials to develop effective drugs to cure Fibromyalgia.
To help accelerating pharmaceutical innovations for patients and gain a better understanding of major diseases, these pharma companies collaborate with a number of partners from academia and the biotech industry who contribute specialized knowledge and cutting-edge technologies. These co-operations form one of the pillars of company’s innovation strategy. Through partnering, companies can leverage today’s scientific know-how and translate it into innovative medicines. True partnerships have the power to kindle the innovative impulses that advance medicine and benefit patients as well as partners.
Industry/Innovation/ Related News:
December 04, 2017 – Soterix Medical (Singapore) announced approval of Singapore’s Health Sciences Authority (HSA) for it’s non-invasive therapeutic device, PainX (as an alternative to treatment for fibromyalgia-related migraines and other chronic pain with medication) and Depression tDCS-LTE (medical device for symptoms associated with major depression) which is based on Soterix’s proprietary transcranial Direct Current Stimulation (tDCS) technology, in which a mild electrical current is delivered to the head through electrodes. A special cap ensures that patches are correctly positioned.
November 21, 2017 – Research team at Penticton (Canada) received funding/ grant of more than $91,000 from The Canadian Rheumatology Association for their efforts to treat Fibromyalgia patients struggling to deal with their pain. The funding also helps promote a local Medical Research Fund being established through the Community Foundation of the South Okanagan Similkameen.
November 1, 2017 – Avacen Medical (US) announced winning an innovation award for a dry heat device(Avacen 100) it invented to treat the pain that is widespread in fibromyalgia (Fibromyalgia Pain Control Device) by the global consulting firm Frost & Sullivan (CA, US) – European New Product Innovation Award for developing the Avacen 100. The consultant made the award after analyzing all of the fibromyalgia management devices that are available in Europe.
November 2017 – IQuity, a leading life science technology company in the field of RNA-based diagnosis, announced that the company is preparing to launch, before the end of this year, its third test ‘IsolateFibromyalgia’ to aid the diagnosis of fibromyalgia, a condition characterized by widespread pain alongside other symptoms.
November 21, 2017 – ViaDerma, Inc. (US) announced that it is granted approval to sell VitaStem(TM) its FDA Registered Topical Antibiotic on Amazon.com and expanding testing into major US hospital chains to ramp up domestic sales & begins. The Company would combine its proprietary solutions with CBD’s and other natural products that treat psoriasis, fibromyalgia for pain and other ailments. The Company plans to continue to expand its (IP) “Intellectual Property Portfolio” in 2018.
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Fibromyalgia Treatments Global Market – Regional Analysis
Globally North America is the largest market for fibromyalgia treatments. Europe is the second-largest market and Asia Pacific is expected to grow at a rapid rate. Whereas, Asia-Pacific is expected to be the fastest growing market during the forecast period.
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