Tuesday, 8 November 2011

Global Market and Medication Forecast

The global market for Fibromyalgia (FM) was valued at $1.7 billion in 2010 and is expected to grow at a Compound Annual Growth Rate (CAGR) of 4.3% to reach $2.4 billion by 2018. The restricted growth in the market is due to the unavailability of approved drugs in the EU and Japan market, expected patent expiry of Cymbalta (2013) and Lyrica (2018) and lack of newer therapies in late stage FM therapeutics pipeline. Currently, FDA (Food and Drug Administration) has approved three drugs for the treatment of FM. Lyrica (pregabalin) was the first drug approved in June 2007 followed by Cymbalta (duloxetine) in June 2008 and Savella (milnacipran) in January 2009. Marketing authorization of these drugs has been rejected by EMEA (European Medical Agency) due low effectiveness and high adverse reactions associated with the drugs. Cymbalta was the first drug to be rejected by EMEA in 2008, followed by Lyrica in 2009 and Savella in 2010. However, increasing prevalence and diagnosis is expected to drive the future FM therapeutics market.

No comments:

Post a Comment