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The bipolar disorder treatment market is estimated to be valued at US$8,732.9 Mn or Million in 2023 and is expected to exhibit a CAGR of 5.4% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Bipolar disorder is a mental illness characterized by unusual shifts in mood between extreme highs (mania or hypomania) and lows (depression). Some common symptoms of bipolar disorder include extreme changes in energy, activity levels, sleep, and behavior. Manic episodes involve feelings of euphoria, hyperactivity, impulsivity and irritability. Depressive episodes include symptoms like sadness, fatigue, feelings of worthlessness and thoughts of suicide. Treatment options for bipolar disorder include mood stabilizers, antipsychotics, antidepressants and psychotherapy.
Read More Analysis: https://www.coherentmarketinsights.com/market-insight/bipolar-disorders-treatment-market-2605
Market Dynamics:
Rising awareness and diagnosis rates of bipolar disorder drive the growth of the market. According to the World Health Organization (WHO), around 45 million people worldwide suffer from bipolar disorder. However, only about half receive treatment, indicating significant room for diagnosis and treatment uptake. Growing adoption of combination therapy using mood stabilizers, antipsychotics and antidepressants to achieve remission also supports the market growth. Additionally, new product launches catering to different phases of bipolar disorder will further aid the expansion of the market during the forecast period. The introduction of long-acting injectable drugs ensuring medication adherence also present lucrative opportunities. However, patent expirations of blockbuster drugs may restrict the market growth.
Segment Analysis
The bipolar disorder treatment market can be segmented based on therapeutics and region. Based on therapeutics, the market can be categorized into mood stabilizers, antipsychotics, antidepressants and others. Mood stabilizers dominated the market in 2022 and is expected to continue its dominance over the forecast period owing to its high efficacy in managing the symptoms of bipolar disorder like mood swings.
PEST Analysis
Political: Governments in various countries are increasing funding for research and development activities for new drugs and therapies to treat bipolar disorder.
Economic: Rising healthcare expenditures and increasing affordability are driving the growth of the bipolar disorder treatment market.
Social: Growing mental health awareness and reducing stigma associated with mental illnesses are favoring the adoption of treatment options.
Technological: Advancements in drug delivery systems and development of digital therapeutics are expected to offer new growth opportunities.
Key Takeaways
The global bipolar disorder treatment market is expected to witness high growth, exhibiting CAGR of 5.4% over the forecast period, due to increasing mental health awareness campaigns and growing funding for R&D. Regionally, North America accounted for the largest market share in 2022 owing to developed healthcare infrastructure and availability of advanced treatment options in the region. Key players operating in the bipolar disorder treatment market are Takeda Pharmaceutical Company Limited, Pfizer, Inc., Allergan plc, Otsuka Holdings Co. Ltd., Johnson & Johnson, Eli Lilly and Company, GlaxoSmithKline plc, AstraZeneca Plc, Novartis International AG, AbbVie Inc., H. Lundbeck A/S, Minerva Neurosciences, Sumitomo Dainippon Pharma Co., Ltd., Intra-Cellular Therapies Inc., Gedeon Richter Plc., and Indivior PLC.
