The increasing prevalence of fibromyalgia, boosted substantially by the ever-rising base of geriatric population and the increasing expenditure on healthcare, thanks to the augmented disposable income of people have been acting as the key factors driving this market and are expected to maintain its growth pace in the near future too.
Albany, NY -- (SBWIRE) -- 02/22/2017 -- Global Anticonvulsant Market for Fibromyalgia: Overview
The global market for anticonvulsants used for fibromyalgia demonstrates a massive potential for future growth. The efficiency of anticonvulsants in the treatment of various neurological disorders, specifically fibromyalgia, is likely to increase their popularity, reflecting greatly on their demand over the forthcoming years.
The increasing prevalence of fibromyalgia, boosted substantially by the ever-rising base of geriatric population and the increasing expenditure on healthcare, thanks to the augmented disposable income of people have been acting as the key factors driving this market and are expected to maintain its growth pace in the near future too.
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Global Anticonvulsant Market for Fibromyalgia: Drivers and Restrains
Currently, a number of both, patented and off-label anticonvulsant drugs, are being used in the treatment of fibromyalgia. Although with expired patents, Topiramate, levetiracetam, divalproex sodium, lamotrigine, oxcarbazepine, and carbamazepine are driving the global market for anticonvulsants used for the treatment of fibromyalgia considerably. In addition, a robust pipeline of anticonvulsants drugs is waiting for U.S. FDA approval, which, post approval, is expected to add significantly to this market in the years to come. The rising preference for generic products is also projected to influence this market remarkably over the next few years.
On the other hand, the stringent regulatory guidelines for the approval of drugs may create obstacles in the growth trajectory of this market to some extent. However, the advancement in medical and healthcare infrastructure in emerging economies is likely to normalize their effects on this market in the near future.
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Global Anticonvulsant Market for Fibromyalgia: Geographical Analysis
The global market for anticonvulsants used for fibromyalgia registers its presence across Asia Pacific, Europe, North America, and the Rest of the World. Due to the presence of a large pool of established players, North America has acquired the leading position in this market. The high disposable income of consumers that enables them to afford expensive treatments, is likely to maintain the growth pace of the North America market for anticonvulsants for fibromyalgia over the next few years. Apart from this, the growing awareness among consumers regarding health and wellness and the rising number of neurological disorders are also expected to further drive this market.
Asia Pacific, on the other hand, is anticipated to offer the most promising opportunities for the growth of the worldwide market for anticonvulsants used for fibromyalgia in the near future. The improvement in economic conditions, rise in purchasing power, and the increase in the living standard of people in Asian countries, such as India and China, are likely to boost this regional market over the years to come. The substantial progress in the medical tourism industry in this region is also projected to reflect positively on the demand for anticonvulsants in Asia Pacific in the near future.
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Global Anticonvulsant Market for Fibromyalgia: Companies Mentioned in the Report
Pfizer Inc., GlaxoSmithKline Inc., UCB Group, Novartis AG, Johnson & Johnson (J&J), and Abbott Laboratories are some of the leading players operating in the global market for anticonvulsants used for fibromyalgia.
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