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The treatment market value for fibromyalgia across the seven major markets (7MM) of the US, France, Germany, Italy, Spain, the UK, and Japan, will expand from $1.8 billion in 2013 at a tepid Compound Annual Growth Rate (CAGR) of 0.72 percent to reach $1.9 billion by 2023, according to research and consulting firm GlobalData.
The company's latest report states that while this growth will be primarily driven by the potential introduction of four late-stage pipeline agents, consisting of reformulations of existing therapies and ‘me-too' products, it will also be dampened by the simultaneous patent expiries of the key branded products on the market.
Ms Maura Musciacco, GlobalData's director of neurology and Oohthalmology, says the US will consolidate its position as the dominant market, with the country's share increasing from 83 percent of fibromyalgia treatment sales in 2013 to 86 percent by 2023.
She explains: "The US is the only country among the 7MM with three approved brands: Lyrica, Cymbalta, and Savella. Along with its higher drug prices and prescribing rates, the largest fibromyalgia population, and a greater number of pipeline products compared with the other six countries, the US holds a greater share of the fibromyalgia treatment arena.
"The small range of currently available fibromyalgia therapeutics means that the market will welcome new products that can offer patients better efficacy, convenience, and safety. To date, four pipeline agents will potentially be introduced by 2023, mainly in the US."