Bipolar Disorder Drugs and Treatment Market - By Drug Class (Mood Stabilizer, Anti-Psychotic Drugs), By Route of Administration (Oral, Parenteral), By Mechanism of Action (Selective Serotonin Reuptake Inhibitor) & Forecast, 2023 – 2032
Published Date: August - 2024 | Publisher: MIR | No of Pages: 240 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationBipolar Disorder Drugs and Treatment Market - By Drug Class (Mood Stabilizer, Anti-Psychotic Drugs), By Route of Administration (Oral, Parenteral), By Mechanism of Action (Selective Serotonin Reuptake Inhibitor) & Forecast, 2023 – 2032
Bipolar Disorder Drugs and Treatment Market Size
Bipolar Disorder Drugs and Treatment Market size was valued at around USD 5.2 billion in 2022 and is expected to register over 3.5% CAGR between 2023 and 2032. Government efforts to raise awareness of bipolar diseases will significantly raise the demand for bipolar disorder drugs and treatment, and this trend is anticipated to continue over the projection period.
Over the past few years, there has been an increase in focus on mental health, largely due to rising levels of stress among the global population. This could potentially increase the product demand. Other variables that will affect market growth include increasing product approvals, speedy progress in treatment development, and an increase in the number of bipolar disorder cases.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Bipolar Disorder Drugs and Treatment Market Size in 2022 | USD 5.2 Billion |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 3.5% |
| 2032 Value Projection | USD 7.5 Billion |
| Historical Data for | 2018 to 2022 |
| No. of Pages | 210 |
| Tables, Charts & Figures | 352 |
| Segments covered | Drug Class, Route of Administration, Mechanism of Action, and Region |
| Growth Drivers |
|
| Pitfalls & Challenges |
|
Bipolar disorder is a mental health condition that affects an individual’s ability to regulate mood and emotions, which can result in episodes of extreme highs (mania or hypomania) and lows (depression). Bipolar disorder drugs and treatment refer to the medications and therapies used to manage symptoms of bipolar disorder. The primary role of bipolar disorder drugs and treatment is to stabilize mood, reduce the severity and frequency of mood swings, and improve overall quality of life for individuals with the condition.
COVID-19 Impact
Due to the COVID-19 outbreak, the demand for bipolar disorder drugs and treatments took a slight hit. With so many COVID-19 cases, healthcare resources and professionals had to prioritize treating those patients. This, unfortunately, led to a decline in bipolar treatment and medication use at hospitals and clinics. On top of that, the lockdowns imposed in many countries to curb the spread of the virus had a ripple effect on the global economy and supply chains. This, in turn, affected the market for bipolar disorder drugs and treatments in different ways.
Bipolar Disorder Drugs and Treatment Market Trends
The increasing prevalence of bipolar disorders is supplementing the demand for bipolar disorder drugs and treatment industry. For instance, according to the Johns Hopkins University report, approximately 9.5% of American adults ages 18 and over suffer from a depressive illness (major depression, bipolar disorder, or dysthymia) each year. Women are nearly twice as likely to suffer from major depression than men. Hence, rising cases of bipolar disorder will foster the market growth.
Moreover, several nation’s governments are providing funds for bipolar disorder research and launching awareness programs to remove the stigma attached to the condition and raise treatment & adherence rates among the public. Medical institutions and scientific organizations are also actively participating by conducting research investigations and creating cutting-edge drugs and therapies for bipolar disorder. Such factors will drive the market growth in the forthcoming year.
Bipolar Disorder Drugs and Treatment Market Analysis
Many bipolar disorder medications can have unpleasant side effects likeGetting hooked on them Problems with blood sugar and cholesterol Thyroid issues Liver damage Blurry vision But when pregnant women take them, research shows that these medications rarely cause serious birth defects or kidney problems in the baby. Also, when patents on popular bipolar medications run out, it can really shake up the market. For example, once Invega, Seroquel, Risperdal, and Zyprexa's patents expire, the market growth might slow down because people will have cheaper, generic options to choose from.
When it comes to treating bipolar disorder, there are several different types of medications used. These include mood stabilizers, anticonvulsants, anti-psychotic drugs, anti-depressants, and anti-anxiety drugs. Anti-psychotic drugs have been particularly important in the treatment of bipolar disorder. They're often used in the short term to control symptoms like hallucinations, delusions, and mania, which can happen during manic or depressive episodes. As more and more people experience these psychotic symptoms, the demand for anti-psychotic drugs is expected to increase. Plus, doctors are starting to use them more often in combination with other medications to treat bipolar disorder, which will also boost their popularity.
When it comes to taking bipolar disorder medication, your doctor has several options based on how you prefer to take it. You can take them by mouth, inject them, or use other methods. Most people prefer to take their bipolar disorder meds by mouth. It's easy, and you don't need any special tools or training. Plus, there are lots of different oral medications available, so your doctor can find one that works best for you. Taking oral medications also gives you more flexibility with your dosing schedule. You can take them at different times of the day, and you can change the dose if needed. And let's not forget the cost-effectiveness of oral bipolar disorder drugs. They're often more affordable than other options, which can save you money in the long run.
The market for bipolar disorder drugs is categorized based on how they work on the body. The main types are selective serotonin reuptake inhibitors, serotonin norepinephrine reuptake inhibitors, tricyclic antidepressants, beta blockers, and others. In 2022, the best-selling type was selective serotonin reuptake inhibitors. It's estimated that these drugs will continue to grow in popularity, with a predicted increase of 3.4% from 2023 to 2032. New advancements in drug development are fueling the growth of the bipolar disorder treatment market. Pharmaceutical companies are working on treatments that have fewer side effects, making them easier for patients to take. They're also developing new drugs that target specific symptoms of bipolar disorder, giving doctors more options to choose from. These advancements in drug development are expected to keep the market growing in the coming years.
The United States has the largest market for drugs and treatments for bipolar disorder in North America. In 2022, it made up most of the business, with a whopping $1.9 billion in revenue. This dominance is because more and more people are getting diagnosed with bipolar disorder. This is probably because of stress, not getting enough sleep, and people trying too many drugs. Governments are trying to help by spreading the word about bipolar disorder and giving support to people with mental health problems. One example is in 2022 when the Department of Health and Human Services (HHS) gave $35 million to improve community health services for kids and young people who are struggling with mental and behavioral health issues. This kind of effort will help the market grow even more in the years to come. There's also the fact that the US has great healthcare facilities and spends a lot of money on healthcare. Both of these will make the market for bipolar disorder drugs and treatments grow even faster.
Bipolar Disorder Drugs & Treatment Market Share
Some of the major market players operating in the bipolar disorder drugs and treatment market are
- GlaxoSmithKline (GSK)
- Pfizer Inc.
- Eli Lily
- AbbVie Inc.
- Otsuka Holdings Co.Ltd.
- AstraZeneca
- Novartis AG
- Janssen Pharmaceuticals
These players focus on strategic partnerships, new product launch & commercialization for market expansion. Furthermore, these players are heavily investing in research that allows them to introduce innovative products and garner maximum revenue in the market.
Bipolar Disorder Drugs and Treatment Industry News
- In September 2022, Otsuka America Pharmaceutical, Inc., (Otsuka) and H. Lundbeck A/S (Lundbeck) announced that the U.S. FDA approved their New Drug Application (NDA) for aripiprazole 2-month, ready-to-use, long-acting injectable, a medication administered for the treatment of schizophrenia in adults and for maintenance monotherapy treatment of bipolar I disorder in adults. This approval helped the company to expand their customer base.
- In May 2019, Allergan plc and Gedeon Richter Plc. announced that the U.S. Food and Drug Administration (FDA) has approved a supplemental New Drug Application (sNDA) for VRAYLAR (cariprazine). This approval expanded use of VRAYLAR to treat depressive episodes associated with bipolar I disorder (bipolar depression) in adults. This strategy helped the company to expand and grow.
The bipolar disorder drugs and treatment market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2032, for the following segments
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By Drug Class
- Mood Stabilizer
- Anticonvulsants
- Anti-Psychotic Drugs
- Anti-Depressant Drugs
- Anti-Anxiety Drugs
By Route of Administration
- Oral
- Parenteral
- Other route of administrations
By Mechanism of Action
- Selective Serotonin Reuptake Inhibitor
- Serotonin Norepinephrine Reuptake Inhibitor,
- Tricyclic Antidepressant Drug
- Beta Blockers
- Other mechanism of actions
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Poland
- Switzerland
- Netherlands
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- South Korea
- Thailand
- Indonesia
- Vietnam
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Argentina
- Chile
- Colombia
- Peru
- Rest of Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Israel
- Rest of MEA
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