5 Key Strategies to Succeed in Bipolar Disorder Market | 2023 – 2033
5 Key Strategies to Succeed in Bipolar Disorder Market | 2023 – 2033
According to a research report published by Spherical Insights & Consulting, The Global Bipolar Disorder Market Size is Expected to Grow from USD 5.32 Billion in 2023 to USD 6.47 Billion by 2033, at a CAGR of 1.98% during the forecast period 2023-2033.
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A bipolar disorder also termed as ‘manic-depressive disorder’ or ‘manic depression’ is a mental illness that causes infrequent shifts in a person’s mood, energy, activity levels, and concentration to happen either irregularly or permanently. Suicide, losing one’s job, functioning problems, and family strife can all be caused by bipolar disease. Better functioning and an improved quality of life, however, can result from effective therapy. Furthermore, the growing occurrence of bipolar ailment with associated hazards like substance abuse, high-end stress, and many more are responsible for driving the bipolar market globally. In addition, advanced drug combinations and demand for antidepressant pharmaceuticals drive the bipolar market. Public awareness and technological advancements regarding bipolar disorder by the government positively affect market development. However, a lack of effective diagnostic tools in bipolar illness diagnosis and the adverse effects of therapies used in bipolar disorder treatment.
Browse key industry insights spread across 207 pages with 110 Market data tables and figures & charts from the report on the Global Bipolar Disorder Market Size, Share, and COVID-19 Impact Analysis, By Type (Bipolar I Disorder, Bipolar II Disorder, Cyclothymic Disorder, and Others), By Drug Class (Mood Stabilizers, Anticonvulsants, Antipsychotic Drugs, and Antidepressant Drugs), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.
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The bipolar I disorder segment is anticipated to hold the greatest share of the global bipolar disorder market during the forecast period.
On the basis of the type, the global bipolar disorder market is divided into bipolar I disorder, bipolar II disorder, cyclothymic disorder, and others. Among these, the bipolar I disorder segment is anticipated to hold the greatest share of the global bipolar disorder market during the forecast period. This is attributed to bipolar I disorder having severe symptoms such as mania, depression, and in some cases psychosis. The suicide rate among BP I patients is high and they have lower quality of life.
The antipsychotic drugs segment is anticipated to grow at a rapid CAGR during the forecast period.
On the basis of the drug class, the global bipolar disorder market is divided into mood stabilizers, anticonvulsants, antipsychotic drugs, and antidepressant drugs. Among these, the antipsychotic drugs segment is anticipated to grow at a rapid CAGR during the forecast period. This is attributed to the increasing occurrence of depression caused by physical illness and psychosis. Antidepressants are drugs that are used to treat serious depressive disorders, anxiety disorders, and chronic pain conditions.
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North America is predicted to hold the greatest share of the global bipolar disorder market over the forecast period.
North America is predicted to hold the greatest share of the global bipolar disorder market over the forecast period. Bipolar disease is becoming more and more common in nations like the US and Canada. Additionally, the region’s market would have appealing potential chances during the projection period due to the strong healthcare infrastructure facilities and the growing prevalence of bipolar diseases. The National Alliance on Mental Illness estimates that approximately one in five American people are hospitalized each year due to a mental illness.
Asia Pacific is anticipated to grow at a rapid CAGR growth of the global bipolar disorder market during the forecast period. The prevalence of mental illnesses has increased recently in APAC nations like China and India. Consequently, during the projected period, this factor is expected to propel the bipolar disorder market in this region.
Major vendors in the global bipolar disorder market are Bristol Myers Squibb Company, Eli Lilly and Company, GlaxoSmithKline plc, H. Lundbeck A/S, Janssen Pharmaceuticals Inc., Otsuka Holdings Co. Ltd., Pfizer Inc., Sunovion Pharmaceuticals Inc., Teva Pharmaceutical Industries Ltd., Takeda Pharmaceutical Company Limited, Abbott Laboratories, Novartis International AG, Alkermes plc, AbbVie Inc., Merck & Co. Inc., Mylan N.V., Neurocrine Biosciences Inc., Vanda Pharmaceuticals Inc., and others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Key Market Development
- In May 2024, NRx Pharmaceuticals (Nasdaq:NRXP) announced final clinical trial results about superior safety combined with similar efficacy in the trial of NRX-101 compared to lurasidone in suicidal bipolar depression.
- In February 2024, Baszucki Group announced the launch of a new partnership with McLean Hospital for a clinical trial of a therapeutic ketogenic diet for bipolar disorder. A multidisciplinary team at the McLean OnTrack program will investigate nutritional ketosis as a vital tool for comprehending the fundamental causes of bipolar disorder as well as a potential new therapeutic approach.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global bipolar disorder market based on the below-mentioned segments:
Global Bipolar Disorder Market, By Type
- Bipolar I Disorder
- Bipolar II Disorder
- Cyclothymic Disorder
- Others
Global Bipolar Disorder Market, By Drug Class
- Mood Stabilizers
- Anticonvulsants
- Antipsychotic Drugs
- Antidepressant Drugs
Global Bipolar Disorder Market, By Regional
- North America
-
- US
- Canada
- Mexico
- Europe
-
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
-
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
-
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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