London, 9 July 2015: Technavio, the independent tech-focused global research firm, has published a report on the global fibromyalgia drugs market 2015-2019, which is expected to grow at a CAGR of 0.79% during the forecast period of 2014-2019.
Unavailability of safe and effective drugs to treat the condition is a major factor that augments growth in this market. The approval of new drugs and targeted therapies is expected to increase the population of treatment-seeking individuals, which in turn will drive the demand for fibromyalgia drugs. Also, increasing public awareness about the condition and its treatment options will boost growth in this market.
“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,” says Faisal Ghaus, Vice President of Technavio.
“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.”
Key Market Drivers:
- Unmet Medical Needs.
- Expected Launch of New Therapies.
- Increasing Patient Population.
Key Market Trends:
- Expected Entry of Me-too Drugs.
- Strategic Alliances.
- Increased Public Awareness.
Key Market Vendors:
- Actavis plc
- Eli Lilly and Co.
- Pfizer Inc.
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges, and trends featuring data on product segmentations, vendor shares, growth rate by revenue, and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
