Home > > Pharmaceuticals And Healthcare > > Chronic Fatigue Syndrome Market Size, Share | Growth Analysis 2031
Id: CBI_1416 | Pages: 214 | Format : PDF | Published : | Author : Amit Sati | Category : Pharmaceuticals And Healthcare
Consegic Business Intelligence analyzes that the chronic fatigue syndrome market size is growing with a CAGR of 6.0% during the forecast period (2024-2031). The market accounted for USD 115.91 million in 2023, and the market is projected to be valued at USD 174.54 Million by 2031.
Chronic fatigue syndrome is a complex and debilitating condition characterized by extreme and persistent fatigue that doesn't improve with rest, along with several other symptoms. Symptoms of this syndrome include severe fatigue, sleep problems, post-exertional malaise, cognitive difficulties, and pain among others. As per the analysis, the combination of risk factors estimated to develop this syndrome are viral infections, immune system dysfunction, genetic factors, and psychological factors. The exact cause of this disease is still not available which is challenging the diagnosis of this syndrome. Management of this syndrome is typically focused on symptom relief and improving overall quality of life. Treatment options involve a group of medications, cognitive behavioral therapy, and physical therapies to address specific symptoms.
The rising cases of this syndrome are one of the prominent reasons fuelling the trends of the market across the globe. The syndrome is also known as myalgic encephalomyelitis is a serious, long-term illness, characterized by profound tiredness, regardless of bed rest. The group of risk factors associated with this syndrome are alterations in the immune system, genetic factors and infections among others. Based on the analysis, the severity of this disease impairs patients' ability to conduct activities of daily living and affects their quality of life.
Additionally, the increasing prevalence of this syndrome across the globe is fueling the demand for effective treatment solutions. For instance, according to the report published by the Centers for Disease Control and Prevention in March 2023, about 836,000 to 2.5 million Americans are estimated to have chronic fatigue syndrome, and 90% of cases remain undiagnosed. Moreover, according to the data published in the Journal of Clinical Medicines in June 2021, the prevalence rate of the syndrome is higher in females than males (1.31% female vs. 0.60% male). Consequently, the growing prevalence of this syndrome across the globe is driving market trends worldwide.
The increasing awareness regarding this syndrome assist as the potential factor fueling the market expansion. The condition is also called as myalgic encephalomyelitis and long covid is s a disorder characterized by extreme tiredness. As per the analysis, the high prevalence of this disease necessitates an increase in awareness of the effective treatment. Awareness programmes and initiatives by governments to educate people regarding this syndrome are boosting the market trends. For instance, in August 2023, the Government of the UK announced an Interim delivery plan outlining 21 actions to improve understanding, research and care for those living with myalgic encephalomyelitis. The plan identifies how care and support for those who experience ME/CFS can be practically improved and sets out the next steps necessary to improve understanding of ME/CFS and support for those affected. As a result, the escalating awareness is driving the chronic fatigue syndrome market growth.
The syndrome, also known as myalgic encephalomyelitis, is a complex multisystem disease commonly characterized by severe fatigue, cognitive dysfunction, sleep problems, autonomic dysfunction, and post-exertional malaise, which can severely impair patients' ability to conduct the activities of daily living. Early diagnosis and prompt treatment are critical to prevent high morbidity and its overwhelming effect on the quality of life. However, there is no fully approved diagnostic test or method approved for syndrome which limits the patients and healthcare providers to opt for effective treatment. The exact cause of this syndrome remains unknown making it challenging to develop appropriate diagnostics. The lack of a single, universally accepted diagnostic test or criteria makes it difficult to accurately diagnose CFS, resulting in underdiagnosis and misdiagnosis. The misdiagnosis creates stigma and misinformation which further hampers the management of disease. Thus, the lack of fully approved diagnostic methods is hindering market trends.
The demand for more advanced solutions for effective treatment has motivated a rise in investment in research and development activities, which is creating lucrative chronic fatigue syndrome market opportunities and trends in the coming years. Based on the analysis, an increase in funding and grants allocated to the research and development of appropriate diagnosis and advanced treatment of this syndrome is expected to contribute to the growth trajectory of the market. For instance, in April 2023, A Cornell multidisciplinary research centre focused on solutions for chronic fatigue syndrome announced that they received a five-year, USD 9.5 million grant from the National Institutes of Health's National Institute of Allergy and Infectious Disease. This grant is expected to enable experts from disparate fields to work together on the mysterious and debilitating condition.
Moreover, in December 2023, PrecisionLife, a leading computational biology company, that is driving precision medicine in complex chronic diseases, Action for M.E., and the MRC Human Genetics Unit at the Institute of Genetics and Cancer, University of Edinburgh have been awarded a USD 790086.17 grant by Innovate UK's Advancing Precision Medicine programme to improve diagnosis and treatment for the millions of people affected by ME/CFS and long Covid. Thus, consistent demand to come up with innovative treatments and therapies is expected to create opportunities and chronic fatigue syndrome market trends.
Report Attributes | Report Details |
Study Timeline | 2018-2031 |
Market Size in 2031 (USD Million) | USD 174.54 Million |
CAGR (2024-2031) | 6.0% |
By Treatment | Medications (Analgesics, Antidepressants, Sleep Enhancers, CNS Stimulants, and Immunomodulators) and Non-Pharmacologic Management (Cognitive Behavioural Therapy (CBT), Lifestyle and Activity Management, and Physical Therapy) |
By End Use | Hospitals, Clinics, and Others |
By Region | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
Key Players | AIM ImmunoTech, GSK plc., Eisai Co., Ltd., Cortene Inc., Sanofi, Pfizer Inc., Biogen, Sun Pharmaceutical Industries Ltd, and Novartis AG |
Geographies Covered | |
North America | U.S. Canada Mexico |
Europe | U.K. Germany France Spain Italy Russia Benelux Rest of Europe |
APAC | China South Korea Japan India Australia ASEAN Rest of Asia-Pacific |
Middle East and Africa | GCC Turkey South Africa Rest of MEA |
LATAM | Brazil Argentina Chile Rest of LATAM |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, Restraint or Challenges, Opportunities, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, Cost Analysis, and Regional Trends & Forecast |
The treatment is categorized into medications and non-pharmacologic management. In 2023, the medications segment accounted for the highest market share of in the chronic fatigue syndrome market and it is also expected to hold the fastest CAGR over the forecast period. As per the analysis, medications suitable for symptoms associated with this syndrome are utilized to manage the disease. Typically used medications for the treatment and management of this syndrome are analgesics, antidepressants, immunomodulators, and sleep enhancers among others. Additionally, advancement in technology is expected to propel the research and development of medications for this syndrome. For instance, in November 2023, AIM ImmunoTech Inc. announced that the U.S. Patent and Trademark Office (USPTO) has issued a U.S. patent for Ampligen titled "Methods for improving exercise tolerance in myalgic encephalomyelitis patients,".Thus, the advancements in medications are expected to provide lucrative opportunities for chronic fatigue syndrome market demand across the globe.
The end-use industry segment is categorized into hospitals, clinics and others. In 2023, the hospitals segment accounted for the highest chronic fatigue syndrome market share of 38.85% in the overall chronic fatigue syndrome market, and it is also expected to hold the fastest CAGR over the forecast period. Hospitals are the primary users and providers of facilities for these syndrome. Hospitals play an important role in helping patients by providing convenient, affordable, and easy access to diagnosis, treatment and management for this complex disease. Additionally, based on the analysis, hospitals are equipped with the state-of-the-art healthcare infrastructure and medical personnel required for the better management of this syndrome. Similarly, hospitals also have associations with specialized therapists who possess a better understanding of psychological conditions.
Moreover, the rising hospital sector is fueling the utilization of advanced medications for the syndrome management which is further boosting the segment expansion. For instance, according to the data published by the National Investment Promotion and Facilitation Agency in 2023, the Indian hospital industry was valued at USD 95.50 Million in FY21 in terms of revenue and is expected to reach USD 220.68 Million by FY 2027, growing at a CAGR of 18.24%. As a result, the growing hospital sector is expected to propel the segment expansion in upcoming years.
The regional segment includes North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.
In 2022, North America accounted for the highest market share at 39.55%, valued at USD 45.84 Million in 2023, it is expected to reach USD 69.87 Million in 2031. In North America, the U.S. accounted for a major market share of 67.25% in the year 2023. The chronic fatigue syndrome market across the North America region growing is owing to the high prevalence of the disease, the availability of advanced medical facilities and the presence of well-established healthcare systems across the region.
Additionally, significant expansion in investments in pharmaceutical research and development. For instance, according to the report by the National Center for Science and Engineering Statistics in September 2023, in financial year (FY) 2022, the 42 federally funded research and development centres (FFRDCs) in the United States spent USD 26.5 Million on research and development (R&D). This was a 6.4% increase from the previous year. Furthermore, according to the data published by the Congressional Budget Office in April 2021, The U.S. pharmaceutical sector spent USD 83 Million on R&D in 2019. Similarly, in August 2019, the Government of Canada announced to investment of USD 1.4 million in biomedical research to improve the quality of life of people living with this syndrome. Moreover, as per the analysis, North America is home to several pharmaceutical companies actively involved in researching and developing new and improved treatments for this syndrome. Thus, the growing pharmaceutical research and development spending and government investment across the region are driving market trends.
Furthermore, the Asia Pacific region is expected to witness significant trends over the forecast period, growing at a CAGR of 6.6 % during 2024-2031. As per the chronic fatigue syndrome market analysis, significant rise in healthcare spending, better health awareness and significant growth in the pharmaceutical sector across the region are expected to increase the treatment facilities across the region. For instance, according to the report published by India Brand Equity Foundation, in August 2023, the market size of the Indian pharmaceuticals sector is expected to reach USD 65 Million by 2024, and approximately USD 130 Million by 2030. All these above-mentioned factors are collectively driving the demand for chronic fatigue syndrome management from the pharmaceutical and healthcare industry in the Asia Pacific region and creating lucrative growth opportunities for thechronic fatigue syndrome market demand.
The global chronic fatigue syndrome market is highly competitive, with several large players and numerous small and medium-sized enterprises. These companies have strong research and development capabilities and a strong presence in the market through their extensive product portfolios and distribution networks. The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships. The key players in the global chronic fatigue syndrome industry include-
In 2023, the market size of chronic fatigue syndrome was USD 115.91 million.
In 2031, the market size of chronic fatigue syndrome will be expected to reach USD 174.54 million.
The high prevalence of chronic fatigue syndrome is fostering market growth. The rising awareness for effective management of chronic fatigue syndrome is contributing to the phenomenal market growth.
In 2023, the medications segment accounted for the highest market share in the overall chronic fatigue syndrome market.
North America accounted for the highest market share in the overall market.