Tuesday June 21, 8:00 am ET
Although the Fibromyalgia Market Will More Than Triple in Size Over the Next Decade, it Will Remain Small in Comparison with Primary Target Markets Such As Depression, Neuropathic Pain, and Insomnia
WALTHAM, Mass., June 21 /PRNewswire/ — Decision Resources, Inc., one of the world’s leading research and advisory firms focusing on pharmaceutical and health care issues, finds that improved awareness of fibromyalgia among both physicians and patients will be a major market driver over the next ten years. Currently, less than 20% of fibromyalgia sufferers receive an accurate diagnosis.
“Reasons for low diagnosis of fibromyalgia include an absence of official diagnostic and treatment guidelines, a paucity of effective therapies, and continuing reticence on the part of many physicians to recognize fibromyalgia as a true syndrome in its own right,” said Tricia Nagle, analyst at Decision Resources, Inc. “We expect notable improvements in diagnosis over the next ten years as a result of the publication of official treatment (and possibly diagnostic) guidelines and the approval of several new drug therapies to treat the condition. New drug approvals will not only help to validate fibromyalgia syndrome in the minds of physicians, but will also bring about a new era of drug marketing.”
The new Pharmacor study entitled Fibromyalgia also finds that, although the fibromyalgia market has clear potential, it remains a secondary target for most drug companies. Primary markets such as depression, neuropathic pain, or insomnia represent much more lucrative target markets than fibromyalgia, so many companies will investigate their drugs for fibromyalgia only after they have secured a place in one of the more lucrative markets.
Fibromyalgia is one of the most common diagnoses made in rheumatological practice, yet the causes of this condition remain unknown and the treatments remain largely ineffective. Indeed, no drugs are yet labeled to treat fibromyalgia in any of the major pharmaceutical markets (United States, France, Germany, Italy, Spain, United Kingdom, and Japan).
About Pharmacor from Decision Resources
Pharmacor is a unique family of studies that assesses a host of market- impacting factors and analyzes the commercial outlook for drugs in research and development.
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Decision Resources, Inc., (http://www.decisionresources.com) is a world leader in market research publications, advisory services, and consulting designed to help clients shape strategy, allocate resources, and master their chosen markets.
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