ID: MRFR/Pharma/4175-CR | 85 Pages | Author: Rahul Gotadki | March 2018
Chinese fibromyalgia market is expected to grow USD 21.68 Billion at a CAGR of 14.20% during the forecast period 2023-2030.
Fibromyalgia syndrome is a condition characterized by widespread musculoskeletal pain. Patients with fibromyalgia may also have muscle stiffness, increased sensitivity to pain, problems with mental processes, fatigue, irritable bowel syndrome (IBS), and others. As symptoms of fibromyalgia syndrome mimic other chronic diseases, therefore its diagnosis takes a long time. According to a study published in Arthritis Research & Therapy journal in 2017, in Taiwan, the risk of coronary heart disease in fibromyalgia patients was 47% higher than in the general population. For fibromyalgia to be diagnosed, the differential diagnosis is most commonly used. Other diagnostic procedures, such as laboratory evaluations are also used.
Notably, increasing cases of rheumatic diseases and growing geriatric population are the key factors driving the Chinese fibromyalgia market. According to the study published in Aging Clinical and Experimental Research in 2014, fibromyalgia syndrome can affect people of all age group, with the high prevalence in the elderly population as the geriatric population is more vulnerable towards pain, reduced mobility, and sleep disruption. In the general population, the prevalence of fibromyalgia increases by 2% at the age of 20 to 8% at the age of 70.
Growing awareness among the population, and rising incidences of traumatic stress and road accidents are also fueling the market growth. According to a study published in Pain Research and Management journal, in 2014, it was found that physical trauma is followed by fibromyalgia syndrome. In this study, conducted with a specific cohort of individuals involved in a motor vehicle collision, found that 8% of individuals developed widespread chronic pain. Widespread chronic pain characterizes fibromyalgia.
However, difficulty in diagnosis may hinder the growth of the market over the forecast period. Fibromyalgia can’t be easily confirmed as the condition is commonly expressed with many other accompanying chronic disorders such as rheumatic diseases, neurological disorders, mental health problems, and others
Intended Audience
Figure: Chinese Fibromyalgia Market by Diagnosis market share, 2016 (%)
Sources: Annual reports, Press release, White paper, Company presentation
Segmentation
The chinese fibromyalgia market is segmented on the basis of diagnosis, treatment, and end-user.
On the basis of the diagnosis, the chinese fibromyalgia market is classified into laboratory evaluation and presence of central sensitization.
On the basis of the treatment, the chinese fibromyalgia market is segmented into targeted treatment and symptomatic treatment.
On the basis of the end-users, the chinese fibromyalgia market is segmented into hospitals, clinics, diagnostic centers, and others.
Research Methodology
Sources: Annual reports, Press release, White paper, and Company presentation
Key Findings
Regional Analysis
South Central China accounted for the major share of the market owing to the rising prevalence of fibromyalgia in this region. Rising cases of chronic rheumatic diseases are also capable of fuelling the fibromyalgia market in China. Prevalence of rheumatoid arthritis is around 0.35%, with the significantly higher rate in Northern China as compared to the Southern part.
The rising healthcare expenditure is also propelling the growth of the market. In China, the total expenditure on health per capita in 2014 was USD 731, as per the World Health Organization (WHO) in 2015. The health expenditure in China grew at a rate of 11.6% per year, suggested by a study published in BMC Health Services Research journal in 2017. This rate is much faster than the growth of the country’s economy, i.e. 9.9% per year.
Key Players
Some of key the players in the chinese fibromyalgia market are Pfizer, GlaxoSmithKline, AstraZeneca, Roche, Astellas Pharma, Eli Lilly and Company, Johnson & Johnson Services, Inc., SANOFI, Bayer AG, AbbVie, ALLERGAN, Boehringer Ingelheim, Cephalon, Inc., Vertical Pharmaceuticals, Sunovion Pharms Inc, Jazz Pharmaceuticals, ABBOTT, NOVARTIS, and others.
Report Attribute/Metric | Details |
---|---|
Market Size | USD 1.68 Billion |
CAGR | 14.20% |
Base Year | 2022 |
Forecast Period | 2023-2030 |
Historical Data | 2021 |
Forecast Units | Value (USD Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Treatment, Diagnosis, End User |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
Key Vendors | Pfizer, GlaxoSmithKline, AstraZeneca, Roche, Astellas Pharma, Eli Lilly and Company, Johnson & Johnson Services, Inc., SANOFI, Bayer AG, AbbVie, ALLERGAN, Boehringer Ingelheim, Cephalon, Inc., Vertical Pharmaceuticals, Sunovion Pharms Inc, Jazz Pharmaceuticals, ABBOTT, NOVARTIS, and others. |
Key Market Opportunities | Increasing cases of rheumatic diseases and growing geriatric population are the key factors driving the Chinese fibromyalgia market |
Key Market Drivers | Growing awareness among the population, and rising incidences of traumatic stress and road accidents are also fueling the market growth. |
Key Questions Answered
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