Product ID: SQMIG35I2095
Report ID: SQMIG35I2095 | Region: Global | Published Date: October, 2022 | Pages: 157 | Tables: 67 | Figures: 75
Bipolar Disorder Market size was valued at USD 5.25 billion in 2021 and is poised to grow from USD 5.36 billion in 2022 to USD 6.4 billion by 2030, growing at a CAGR of 2.00% in the forecast period (2023-2030).
Manic depression, formerly known as bipolar disorder is a mental health illness that results in sharp mood swings, including emotional highs (mania or hypomania), and lows (depression). According to research, the fact that bipolar disorder frequently runs in families and that some people are more predisposed to the condition than others due to certain genes. No single gene can cause the condition; multiple genes are involved.
Three distinct diagnoses fall under the category of bipolar disorder bipolar I, bipolar II, and cyclothymic disorder. According to a recent study, India has the lowest lifetime risk of bipolar disorder at 0.1% and the United States has the highest rate at 4.4%.
A few of the factors boosting the growth of this market include the rising prevalence of bipolar illness, government assistance for raising awareness about the condition, and technology advancements that enable precise detection of a patient's mood and mental state. In contrast to other medications used to treat bipolar disorder, the use of tricyclic antidepressants has decreased over time as a result of their higher prevalence of side effects.
US Bipolar Disorder Market is poised to grow at a sustainable CAGR for the next forecast year.
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Global bipolar disorder market is segmented based on the drug class, type, and region. Based on the drug class, the global market is segmented as mood stabilizers, anticonvulsants, antipsychotic drugs, antidepressant drugs, antianxiety drugs and others. Based on type, the market is segmented as, bipolar I disorder, bipolar II disorder, cyclothymic disorder, and others. Based on region, the market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Bipolar Disorder Market Analysis by Drug Class
Based on drug class, the market is segmented into mood stabilizers, anticonvulsants, antipsychotic drugs, antidepressant drugs, and antianxiety drugs and dominated by the antipsychotic medication category. SSRIs and antipsychotic medications can be used together in combination therapy. The majority of medical experts choose antipsychotic medications because they outperform other over-the-counter bipolar medications in the market in terms of effectiveness.
The majority of the revenue generated by the global market for bipolar disorder medications and treatments is anticipated to derive from this category. Over the course of the forecast period, it is anticipated to expand at a CAGR of 2.8%, which is higher than the other market categories. By 2027, the market for antipsychotic medications is anticipated to be worth USD 3 Bn.
Anticonvulsant medications are currently being used by doctors more frequently, resulting in a CAGR of 3.9% over the forecast period.
Bipolar Disorder Market Analysis by Type
Global bipolar disorder market has been segmented on the basis of type as bipolar I disorder, bipolar II disorder, cyclothymic disorder and others. Among these, the bipolar I disorder category is now in the lead with the largest market share. The largest proportions are largely due to the rise in chronic illness cases among persons who are under escalating amounts of stress. The market sector with the greatest market shares in second place is bipolar II disorders.
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Geographically, North America is anticipated to dominate the global bipolar disorder market due to the region's high levels of stress and widespread substance misuse problems. Various government programmes and efforts meant to increase awareness fuel the rise of the market in Europe and North America. The North America region demonstrated its dominance by accounting for over 50% of the global market for bipolar disorder in 2019 and anticipated for the forecast period. The market demand is significantly rising due to the Y-O-Y increase in the prevalence of bipolar disorder in this region. The prevalence of bipolar disorder is rising in the North America, which is driving the regional market. A sizeable portion of the population in this region has high levels of stress and sleep problems.
Recently, governments in North America have launched a number of initiatives to raise public awareness of bipolar disorder, which is further anticipated to support market expansion.
Due to the high prevalence of mental diseases in this region, Asia Pacific is also anticipated to see a greater CAGR over the course of the projected period than other regions. India and China are among the nations with the highest rates of mental illnesses like anxiety, schizophrenia, and bipolar disorder, according to WHO data. Along with government initiatives, the market in this region is projected to be driven by APEC's Healthy Asia Pacific 2020 initiative, which was launched in 2014.
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Bipolar Disorder Market Drivers
Emphasis on improving product portfolio and the growing number of mental illnesses is expected to propel the market growth
Bipolar Disorder Market Restraints
Lack of medications and the correct line of treatment to create market challenges
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Global bipolar disorder market is relatively fragmented, with a high level of competition. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective solutions.
Top Players in the Global Bipolar Disorder Market
Bipolar Disorder Market Recent Developments
In January 2022, the U.S. Food and Drug Administration (FDA) approved an expanded indication for the antipsychotic Caplyta (lumateperone) for the treatment of bipolar I and II depression in adults. Caplyta, marketed by Intra-Cellular Therapies Inc., was already approved for the treatment of schizophrenia in adults.
In June 2021, Through the multi-stage ENLIGHTEN clinical trials, the Food and Drug Administration (FDA) approved Lybalvi® (olanzapine/samidorphan) for a number of indications, including the treatment of adults with schizophrenia and/or bipolar I disorder (acute manic episodes or acute episodes with mixed features). Olanzapine/safety samidorphan's and effectiveness were examined over studies lasting 4 weeks, 24 weeks, and 52 weeks, respectively. The secondary analysis further assessed the metabolic consequences.
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According to the global bipolar disorder market report analysis, in terms of drug class in which anticonvulsant medications are currently being used by doctors more frequently, resulting in a CAGR of 3.9% over the forecast period.
Some of the greatest over-the-counter medications for treating bipolar disorder are carbamazepine, also known as Equetro, divalproex sodium, also known as Depakote, lamotrigine, also known as Lamictal, topiramate, also known as Topamax, and valproic acid, also known as Depakene. As previously indicated, all of these anticonvulsant medications are currently responsible for 32% of the world's market for bipolar treatment pharmaceuticals and are anticipated to grow at a CAGR of 3.9% collectively.
|Market size value in 2021||USD 5.25 billion|
|Market size value in 2030||USD 5.36 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
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For the Global Bipolar Disorder Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Bipolar Disorder Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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