Fibromyalgia - Drug Pipeline Analysis and Market Forecasts to 2015

London, United Kingdom (PressExposure) December 22, 2009 -- GlobalData estimates the global Fibromyalgia Syndrome (FMS) market to have be worth $1 billion in 2008. It is estimated to grow at a Compound Annual Growth Rate (CAGR) of 9.2% for the next seven years to reach $1.8 billion by 2015. The growth will be driven by several factors such as escalation in FMS prevalence and the high level of unmet needs prevailing in the sector. Barriers for the FMS market are inadequate knowledge of the disease and limited effectiveness of existing drugs which moderately affect the growth of the market. The moderate treatment seeking and low diagnosis rate also act as a barrier to market volume in the sector.

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GlobalData analyzed the current FMS market landscape and considers it to be a weak market. The disease has recently gained the attention of the pharmaceutical sector and is gradually expected to turn into an established market. The current FMS market had only three major players including Cypress in 2009. Consequently, competition in the market is not strong. Competition in the FMS market is driven not only by product characteristics such as efficacy and safety profiles, but also by market characteristics such as the number of competitors, pricing, off-labels, and treatment flow indicators such as patient compliance and physician perceptions. Pfizer, Eli Lilly and Cypress Biosciences remain the leading competitors in the market. Together, these companies will account for approximately 85% of the global market share in 2009. Pfizer is the market leader with a share of approximately 45%. The global FMS market has a high level of unmet need compared to many other Central Nervous System (CNS) related markets.

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The current FMS market is not very competitive with only two drugs (Lyrica and Cymbalta) approved in 2008. Savella is a third drug which has recently gained approval for FMS in 2009. This clearly indicates that the market is currently faced with a high level of unmet need in terms of efficacy and safety. Other drugs such as mitriptyline, Prozac, Flexeril, Duloxetine and Armodafinil are used off-label for the indication. While the current market is not intensely competitive, it is expected to intensify with the prevailing unmet needs in the sector and the anticipated launch of blockbuster drugs. The available marketed products and off-labels have left a major diseased population unsatisfied and have led to the need for better efficacious and save drugs with novel mechanisms. New entrants can take advantage of this opportunity with the launch of innovative drugs and intense competition in the market is anticipated in the near future.

GlobalData, the industry analysis specialist’s new report, “Fibromyalgia – Drug Pipeline Analysis and Market Forecasts to 2015” is an essential source of information and analysis on the global fibromyalgia market. The report identifies the key trends shaping and driving the global fibromyalgia market. The report also provides insight on the prevalent competitive landscape and the emerging players expected to bring a significant shift in the market positioning of the existing market leaders. Most importantly, the report provides valuable insight on the pipeline products within the global fibromyalgia sector.

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Press Release Submitted On: December 22, 2009 at 12:58 am
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