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China's aging population contributes to the growth of fibromyalgia cases, as it primarily affects individuals aged 30 to 60, aligning with China's demographic trends.
Growing awareness campaigns and medical education initiatives have led to higher diagnosis rates, boosting market demand for fibromyalgia treatments and management options.
Expansion of China's healthcare infrastructure, including hospitals and clinics equipped to handle chronic pain conditions like fibromyalgia, supports market growth by facilitating patient access to treatment.
With the development of disposable income in the Chinese middle-class, healthcare spending approaches, comprised of appointments, medications, as well as alternative medicine for fibromyalgia management, gets more available.
A remarkable consequence of Chinese urbanization is that healthcare facilities in urban cities are more powerful positioned in the market for fibromyalgia patients' accessibility, promoting an increase of market share in medical infrastructure.
The use of advanced medical technologies such as telemedicine and digital health solutions makes it possible remote consultations and monitoring for patients having fibromyalgia all over the world including those in hospitals and other healthcare settings to be expanded.
Depending on pharmaceutical companies and academic institutions, the research and development of fibromyalgia modalities play the role of innovation, driving the market growth based on the introduction of new treatments, thus supporting the market growth.
Traditional Chinese medicine (TCM) practices have long been a centerpiece of Chinese culture and provide an alternative healing environment for fibromyalgia; hence, causing a shift in market dynamics by merging traditional with modern healthcare approaches.
Tackling fibromyalgia patients' activism and advocacy push the raising of awareness, mega research funding, and develop national healthcare policies that determine Chinese fibromyalgia market development.
The credit expansion of health insurance for chronic situations like fibromyalgia decreases patients' out-of-pocket costs, which leads to the increase in below si orthodox and market demand for related healthcare products and services.
Being a leading economic nation in the world, the fibromyalgia market of China is subjected to influences brought about by trade agreements, exchange rates and international cooperation that determine the amount of research funding and treatment choice.
Regulatory evolvements for pharmaceutics and medical tech in China impact the entry targets of fibromyalgia treatments, so the level of product availability, pricing, and competition change.
The preferences of patients who are advocates of holistic treatments for fibromyalgia management such as lifestyle changes, dietary alterations, and mind-body therapies or modalities are among the driving factors in the demand of the complementary and alternative medicine.
Intensifying competition among pharmaceutical companies and healthcare providers for market share in fibromyalgia treatment offerings drives innovation, affordability, and accessibility for patients.
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.
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