World fibromyalgia syndrome market to grow at a CAGR of 9.2% for the next seven years, reaching $1.8 billion by 2015, forecasts Global Data

The global market for fibromyalgia syndrome (FMS) drugs was valued at some $1 billion in 2008 and is estimated to grow at a Compound Annual Growth Rate (CAGR) of 9.2% for the next seven years to reach $1.8 billion by 2015, according to a new report from GlobalData.

The growth will be driven by several factors such as escalation in FMS prevalence and the high level of unmet needs prevailing in the sector. Barriers for the FMS sector are inadequate knowledge of the disease and limited effectiveness of existing drugs which moderately affect the growth of the market. The moderate treatment-seeking and low diagnosis rate also act as a barrier to market volume in the sector, the report notes.

Market remains imperceptibly competitive