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According to Technavio's market sizing methodology, the chronic fatigue syndrome therapeutics market share is expected to increase to USD 51.84 million by 2026, and the market's growth momentum will progress at a CAGR of 4.31%.
This chronic fatigue syndrome therapeutics market research report extensively covers market segmentations by the following:
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The chronic fatigue syndrome therapeutics market report also offers information on several market vendors, including AIM ImmunoTech Inc., Apotex Inc., Aurobindo Pharma Ltd., Bionpharma Inc., Cadila Pharmaceuticals Ltd., Hikma Pharmaceuticals Plc, Lupin Ltd., Pfizer Inc., Sun Pharmaceutical Industries Ltd., Teva Pharmaceutical Industries Ltd., and Viatris Inc. among others. Furthermore, this report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches.
The increasing use of off-label pharmacological treatment for CFS is notably driving the chronic fatigue syndrome therapeutics market growth, although factors such as lack of specific diagnostic tests for confirmation of CFS may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the chronic fatigue syndrome therapeutics industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Chronic Fatigue Syndrome Therapeutics Market Driver
One of the key factors driving the global chronic fatigue syndrome therapeutics market growth is the increasing use of off-label pharmacological treatment for CFS. From 2010 to 2020, the average annual incidence of CFS per 100,000 individuals increased by more than 50%. Graded exercise and CBT are the recommended first-line treatment for CFS. CFS patients are more likely to consult a complementary or alternative healthcare provider for advice and support than a physiotherapist or psychologist in the 6-month timeframe for the management of CFS. A wide range of pain relievers, antidepressants, antibiotics, and immunomodulators are being prescribed off-label for improving symptoms of CFS, as there are no approved drugs for the treatment of CFS. Thus, the increasing administration of off-label drugs in CFS patients will drive market growth in the forecast years.
Key Chronic Fatigue Syndrome Therapeutics Market Trend
Development of new diagnostic tests for CFS is one of the key chronic fatigue syndrome therapeutics market trends that is expected to impact the industry positively in the forecast period. Currently, there is no standard and reliable diagnostic test for the diagnosis of CFS. Recently, researchers at the Stanford University School of Medicine identified a biomarker and developed a blood test for the diagnosis of CFS. It is a nanoelectronic assay that can measure the electrical responses of cells in real-time. Researchers collected PBMCs from 20 people with CFS and 20 healthy controls and placed the cells in a high-salt environment to create stress that cells can usually fix using ATP. The cells from patients with CFS exhibited the greatest electrical changes, while those from healthy controls showed the lowest. Hence, this test could help in the accurate diagnosis of the disease which will further support the market growth in the coming years.
Key Chronic Fatigue Syndrome Therapeutics Market Challenge
One of the key challenges to the global chronic fatigue syndrome therapeutics market growth is the confirmation of specific diagnostic tests for confirmation of CFS. There are no symptoms that are specific to CFS. CFS can be a symptom of many medical conditions, such as fibromyalgia, chronic mononucleosis, neurological conditions, Lyme disease, and sensitivity to certain chemicals. Moreover, CFS can be a symptom in many other treatable illnesses, such as cancer, subacute or chronic infections, depression, psychosomatic diseases, and malingering. Thus, more education about CFS among physicians and nurses is required to provide timely diagnosis and appropriate care for patients. However, in most medical schools, even in developed countries, such as the US, the diagnosis of ME/CFS is not a part of physician training. Such factors may limit the market growth in the forecast years.
This chronic fatigue syndrome therapeutics market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the chronic fatigue syndrome therapeutics market encompasses successful business strategies deployed by the key vendors. The chronic fatigue syndrome therapeutics market is concentrated and the vendors are deploying growth strategies such as investment in the R&D or production of generic drugs, non-generic drugs, and veterinary drugs to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The chronic fatigue syndrome therapeutics market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
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42% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for chronic fatigue syndrome therapeutics in North America. Market growth in this region will be faster than the growth of the market in Rest of World (ROW).
The high per capita pharmaceutical expenditure, the strong market presence of leading vendors, access to advanced healthcare, and the increasing awareness about CFS will facilitate the chronic fatigue syndrome therapeutics market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
Though the demand for COVID-19-related therapeutics increased, the demand for other therapeutics, including CFS therapeutics, declined. Patients were not visiting hospitals and clinics unless there was some major health issue, which negatively impacted the growth of the regional market in 2020. However, clinics were resumed due to the large-scale vaccination drives, and patients started to be admitted to hospitals in 2021. This boosted the growth of the regional market in 2021. The regional market is expected to witness similar growth during the forecast period due to increasing healthcare spending and awareness campaigns organized by non-profit associations.
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The chronic fatigue syndrome therapeutics market share growth by the pain relievers and NSAIDs segment will be significant during the forecast period. Pain relievers (NSAIDs and narcotic medications) are the most commonly used drugs, as they can benefit these patients by relieving pain and reducing inflammation. Several NSAIDs are used to relieve pain in CFS patients. The most commonly used NSAID is ibuprofen.
This report provides an accurate prediction of the contribution of all the segments to the growth of the chronic fatigue syndrome therapeutics market size and actionable market insights on post COVID-19 impact on each segment.
Technavio categorizes the global chronic fatigue syndrome therapeutics market as a part of the global pharmaceuticals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the chronic fatigue syndrome therapeutics market during the forecast period.
Our report provides extensive information on the value chain analysis for the chronic fatigue syndrome therapeutics market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
Chronic Fatigue Syndrome Therapeutics Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.31% |
Market growth 2022-2026 |
$ 51.84 million |
Market structure |
Concentrated |
YoY growth (%) |
3.8 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 42% |
Key consumer countries |
US, Canada, Germany, UK, France, US, Canada, Germany, UK, and France |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
AIM ImmunoTech Inc., Apotex Inc., Aurobindo Pharma Ltd., Bionpharma Inc., Cadila Pharmaceuticals Ltd., Hikma Pharmaceuticals Plc, Lupin Ltd., Pfizer Inc., Sun Pharmaceutical Industries Ltd., Teva Pharmaceutical Industries Ltd., and Viatris Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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