The treatment market value for fibromyalgia across the seven major markets 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% to reach $1.9 billion by 2023, according to research and consulting firm GlobalData.
The Company’s latest report, PharmaPoint: Fibromyalgia – Global Drug Forecast and Market Analysis to 2023, 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.
Fibromyalgia treatment market value growth dampened by patent expiries
Maura Musciacco, MSc, GlobalData’s Director of Neurology and Ophthalmology, says the US will consolidate its position as the dominant market, with the country’s share increasing from 83% of fibromyalgia treatment sales in 2013 to 86% by 2023.
Musciacco explains, “The US is the only country among the seven major markets 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.”
These products include two reformulations, namely Pfizer’s Lyrica CR and Tonix Pharmaceutical’s TNX-102 SL, and two “me-too” products, namely Daiichi Sankyo’s DS-5655 and Theravance Biopharma’s TD-9855.
Generic medicines are likely to dominate sales in countries where the pipeline products are limited
Musciacco continues: “The estimated cost of these treatments will be comparatively higher than the currently available fibromyalgia therapies and the inexpensive generic products. These higher costs will drive an increase in the overall value of the fibromyalgia market over the forecast period.
“However, Lyrica, Cymbalta, and Savella have already or will experience generic erosion between 2013 and 2023. Generic medicines are likely to dominate sales in countries where the pipeline products are limited or not available, while markets crowded with generics will see limited sales growth for new entrants.”
