Before implementing any strategy, it's crucial to comprehend the dynamics of the Chinese fibromyalgia market, including the prevalence of the condition, existing treatments, patient demographics, and competitor landscape.
Differentiating the product or service offering is key to standing out in a crowded market. This could involve unique formulations, delivery methods, or ancillary services tailored to the needs of fibromyalgia patients in China.
Market segmentation may be done based on age, gender, severity of symptoms, and geographic area of the customers. Thus, it can be achieved on target market via focused marketing actions. That strive to reach such audiences, the message should reflect its particular needs and expectations.
In this regard, the development of strategic partnerships and alliances with healthcare practitioners (HCPs) who have a specialization in treating fibromyalgia could be the key. It entails disseminating flyers, brochures, course materials and responding to patients' inquiries, as well as patient care rehab or training programs.
Educating the patients regarding fibromyalgia, its symptoms, treatment options and the role of the company’s products and/or services in managing the condition is advantageous in galvanizing and establishing brand faithfulness and trust.
The conducting clinical trials in China not only prove that the product is effective and safe but having approval of regulatory authority and acceptance among medical professionals also facilitates gaining of the approval and acceptance of both patients and physicians.
Aligning with hospitals, health clinics, patient support groups, or other target organizations may bring widespread visibility and brand legitimacy among the Chinese fibromyalgia population.
While pricing the product or service at a competitive level with respect to its value proposition and being mindful of the affordability of the target market is essential for infiltration and movement of the market.
Picking up the most suitable distribution channels is the key gate to the market growth and to the hits targeting both medical institutions and retail channels all over China. Here, they can either keep dealing with local distributors or even go ahead to establish sales channels of their own.
Compliance with Chinese regulatory norms along with obtaining clearance of the health authorities in China demonstrates the reliability of the product to the healthcare professionals and patients alike regarding the safety and efficacy.
The business environment is subject to the evolution, which means that the relevant competitive dynamics are to be monitored thoroughly to review consumers, regulations and industry trends as soon as possible in order to result in an effective adaptation of the strategy.
Implementing comprehensive support PROGRAMS for patients that aim at medication compliance, lifestyle management and access to support networks can induce patient confidence and loyalty.
The intelligence from market research data, patient input, and real-world evidence is timely and reliable resource which assists in creating, adapting and constant update of strategies in line with market demands.
Investing in brand building activities and maintaining a positive reputation through ethical business practices and high-quality products or services is essential for long-term success in the Chinese fibromyalgia market.
Regularly assessing competitor strategies, strengths, and weaknesses enables the company to identify gaps in the market and capitalize on opportunities for differentiation and growth.
Chinese Fibromyalgia Market Highlights:
Chinese Fibromyalgia Market Overview
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
- Pharmaceutical Companies
- Hospitals & Clinics
- Research and Development (R&D) Companies
- Government Research Institute
- Academic Institutes and Universities
Figure: Chinese Fibromyalgia Market by Diagnosis market share, 2016 (%)
Sources: Annual reports, Press release, White paper, Company presentation
Chinese Fibromyalgia Market Segmentat Insights
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
- The Chinese fibromyalgia market is expected to reach USD 3,079.1 million by 2022 at a CAGR of 18.7%
- On the basis of the diagnosis, the laboratory evaluation segment is expected to command the largest market share of 77.2% over the review period, and it is also expected to grow at the fastest CAGR of 19.1% during the forecast period 2017-2022
- On the basis of the treatment, the symptomatic treatment segment is expected to command the largest market share of 68.6% over the review period, and targeted treatment is expected to grow at the fastest CAGR of 19.2% during the forecast period 2017-2022
- South Central China holds the largest share of the Chinese fibromyalgia market and is expected to reach USD 785.3 million by 2022
- North China is the fastest growing market, which is expected to grow at a CAGR of 19.2% over the forecast period 2017-2022
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,
- Roche,
- Astellas Pharma,
- Eli Lilly and Company,
- Johnson & Johnson Services, Inc.,
- SANOFI,
- Bayer AG,
- GlaxoSmithKline,
- AstraZeneca,
- AbbVie,
- ALLERGAN,
- Boehringer Ingelheim,
- Cephalon, Inc.,
- Vertical Pharmaceuticals,
- Sunovion Pharms Inc,
- Jazz Pharmaceuticals,
- ABBOTT,
- NOVARTIS, and
- others.