New York, United States , June 13, 2024 (GLOBE NEWSWIRE) -- The Global Bipolar Disorder Market Size 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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Bipolar disorder is an emotional condition that can be chronic (permanent or recurring) or episodic (occurs irregularly). Bipolar disorder can also be known by the earlier terms manic-depressive disorder or manic depression. The growing prevalence of bipolar illness and its related risks, such as high stress, substance abuse, and others, as well as developments in drug combinations and the need for antidepressant drugs, are propelling the global bipolar disorder market. Other factors expected to drive market growth include increased R&D efforts and government initiatives in the healthcare sector. Furthermore, increased public knowledge of bipolar disease, as well as improved technology that enables for precise detection of a patient's mood and mental state, will drive the bipolar disorder market forward. For example, in April 2024, Vanda Pharmaceuticals Inc. (Vanda) (Nasdaq: VNDA) reported that the US Food and Drug Administration, or FDA, had approved Fanapt® (iloperidone) tablets for the immediate treatment of manic or mixed episodes in patients with bipolar I illness. Fanapt®, an atypical antipsychotic medication, has been used in the acute treatment of schizophrenia patients since it was approved by the FDA in 2009. However, a lack of reliable diagnostic methods for disease diagnosis, as well as the negative side effects of bipolar disorder therapies, are projected to constrain market expansion.
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, Others), By Drug Class (Mood Stabilizers, Anticonvulsants, Antipsychotic Drugs, 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 expected to hold the largest share of the global bipolar disorder market during the anticipation timeframe.
Based on the type, the global bipolar disorder market is categorized into bipolar I disorder, bipolar II disorder, cyclothymic disorder, and others. Among these, the bipolar I disorder segment is expected to hold the largest share of the global bipolar disorder market during the anticipation timeframe. BP-I has significant repercussions, including both direct and indirect problems. Suicide rates are high among BP-I patients, and they have a lower quality of life and productivity than unaffected individuals. Bipolar disorder, especially the most severe kind (type I), has a strong genetic component. Family studies show that this illness is caused by a few genes that have a minimal effect.
The antipsychotic drugs segment is expected to grow at the fastest CAGR during the anticipation timeframe.
Based on the drug class, the global bipolar disorder market is categorized into mood stabilizers, anticonvulsants, antipsychotic drugs, and antidepressant drugs. Among these, the antipsychotic drugs segment is expected to grow at the fastest CAGR during the anticipation timeframe. The increasing prevalence of depression is caused by physical disease and psychosis. Antidepressants are medications that treat severe depression, anxiety disorders, and chronic pain.
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North America is projected to hold the largest share of the global bipolar disorder market over the anticipation timeframe.
North America is projected to hold the largest share of the global bipolar disorder market over the anticipation timeframe. The rising incidence of bipolar diseases would create attractive prospective opportunities for the region's market over the projection period. According to the National Alliance on Mental Illness, approximately one out of every five adults in the United States suffers from a mental disease that requires hospitalisation each year. All of these characteristics will contribute to regional industry growth over the forecasted timeframe.
Asia Pacific is expected to grow at the fastest CAGR growth of the global bipolar disorder market during the anticipation timeframe. Mental illnesses have recently become more prevalent in APAC countries like India and China. As a result, this factor is projected to boost the bipolar disorder market in this region throughout the forecast period.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. 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.
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Recent Developments
- On May 2024, NRx Pharmaceuticals, Inc., a clinical-stage pharmaceutical firm, announced that NRX-101 demonstrated a statistically significant safety improvement over the standard of care comparator in a recently completed clinical trial in patients with suicidal bipolar depression.
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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