Global Bipolar Disorder Market size was valued at US$ XX Mn in 2019 and the total revenue is expected to grow at XX% through 2020 to 2026, reaching nearly US$ 5560 Mn.
The global Bipolar Disorder market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The global Bipolar Disorder report also provides trends by market segments, technology, and investment with a competitive landscape.
Global Bipolar Disorder Market
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Global Bipolar Disorder Market Overview:
Manic depression, often known as bipolar disorder, is a kind of mental disease marked by mood fluctuations. Manic and depressed mood episodes are the two types o mood episodes. A person's mood swings are triggered by changes in their mental state. A person with bipolar illness might be cheerful, joyous, and enthusiastic one minute and depressed, hopeless, and lethargic the next. Because of these contrasting moods or two poles of mood, this mental condition is known as bipolar disorder.
It has been discovered via several research efforts that specific genes are responsible for the development of bipolar illness. Bipolar disorder is more likely to occur in people who have a family history of the condition.
Global Bipolar Disorder Market Dynamics:
In the projected term, the increased incidence of bipolar illnesses is expected to drive market growth. Market expansion is often aided by government efforts. For example, the International Bipolar Foundation's Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI) are Social Security Administration (US) programs designed to help persons with bipolar disorder.
The market is expected to rise due to increased knowledge of bipolar disorder diagnosis and treatment, as well as unmet requirements in the treatment of the disease. Individuals are being encouraged to seek treatment as society becomes more accepting of mental illness.
Furthermore, the market is being driven by technical advancements in diagnosing genetic abnormalities and a rise in treatment choices for genetic illnesses.
The National Institute of Mental Health (NIMH) sponsored the establishment of the Bipolar Disorder Phenome Database, which provides comprehensive information on the indications and symptoms of the disorder. This element has also contributed to the market's expansion.
Anticonvulsant side effects and strict restrictions, on the other hand, are stifling the worldwide bipolar disorder market's growth. Furthermore, the market's expansion is hampered by the lack of approved anticonvulsants for the treatment of bipolar illness.
Global Bipolar Disorder Market Segment Analysis:
Based on Type, The bipolar I disorder segment dominated the market over the forecast period followed by bipolar II disorder. A key element in holding the largest shares is the rising prevalence of chronic disease among persons with rising stress levels.
Bipolar I illness, according to the National Institute of Mental Health, is characterized in part by manic episodes that are so severe that the person requires emergency hospitalization. Because there is a great need to address bipolar illness, which is becoming more prevalent, the market for bipolar disorder is likely to rise throughout the projected period.
Global Bipolar Disorder Market
Based on Drug Class, the antipsychotic drug segment holds the majority of the market. It is used in conjunction with an SSRI as part of combination treatment and has shown to be effective, leading to an increase in the number of physicians prescribing these drugs.
Antipsychotics are also used "off label" as sedatives, for sleeplessness, anxiety, and/or agitation in patients with bipolar illness. They are frequently used with a mood-stabilizing medicine and can help to alleviate manic symptoms until the mood stabilizers take full action. Some antipsychotics appear to aid with mood regulation on their own. As a result, they might be utilized as long-term therapy for those who cannot tolerate or react to lithium or anticonvulsants.
The widespread usage of anticonvulsants, either as a single medicine or as part of combination therapy, will propel the market sector forward rapidly throughout the projection period.
Based on the Mechanism of Action, the selective serotonin reuptake inhibitor category is expected to dominate the market at first, but serotonin-norepinephrine reuptake inhibitors are expected to acquire market share during the projected period.
Global Bipolar Disorder Market Regional Insights:
Due to improved awareness and a wider range of treatment choices, North America dominates the worldwide bipolar disorder market. In terms of revenue, the United States leads the area, followed by Canada. Europe is the second-largest revenue contributor, with the United Kingdom and Germany accounting for the majority of the market.
According to the National Alliance on Mental Illness, one out of every five individuals in the United States suffers from mental illness at some point throughout the year. Severe periods of mania and sadness necessitate hospitalization to prevent individuals from harming themselves or others.
In comparison to other areas, Asia Pacific is predicted to grow at a faster rate throughout the projection period, which may be related to the region's high incidence of mental diseases. According to WHO data, India and China are among the countries with the highest rates of mental diseases like anxiety, schizophrenia, and bipolar disorder.
Aside from government efforts, such as the Asia Pacific Economic Cooperation (APEC) body's Healthy Asia Pacific 2020 project, which was launched in 2014, the industry in this area is expected to grow.
Global Bipolar Disorder Market
The objective of the report is to present a comprehensive analysis of the global Bipolar Disorder market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.
PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the global Bipolar Disorder market dynamics, structure by analyzing the market segments and project the global Bipolar Disorder market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Bipolar Disorder market make the report investor’s guide.
Global Bipolar Disorder Market Scope: Inquire before buying
Global Bipolar Disorder Market, by Type
• Bipolar I Disorder
• Bipolar II Disorder
• Cyclothymic Disorder
Global Bipolar Disorder Market, by Drug Class
• Mood Stabilizer
• Antipsychotic Drug
• Antidepressant Drug
• Other Classes of Drug
Global Bipolar Disorder Market, by Mechanism of Action
• Selective Serotonin Reuptake Inhibitor
• Serotonin Norepinephrine Reuptake Inhibitor
• Tricyclic Antidepressant Drug
• Beta Blockers
Global Bipolar Disorder Market, by Region
• North America
• Asia Pacific
• The Middle East and Africa
• South America
Global Bipolar Disorder Market Key Players
• AbbVie Inc.
• Allergan PLC
• AstraZeneca Plc
• Novartis AG
• Eli Lilly and Company
• Janssen Pharmaceuticals Inc.
• Glaxo SmithKline Plc
• Pfizer Inc.
• Otsuka Holdings Co. Ltd
• Gedeon Richter
• Janssen Pharmaceuticals
• Bristol-Myers Squibb
• Johnson & Johnson
• Other Key Players
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