Global Bipolar Disorder Market Anticipated To Grow At A CAGR Of Around USD 6.16 Billion by 2032

As per analysts at Zion Market Research, Bipolar Disorder Market, estimating its value at USD 5.23 Billion in 2023, with projections indicating that it will reach USD 6.16 Billion by 2032. The market is expected to expand at a compound annual growth rate (CAGR) of 1.97% over the forecast period 2024-2032.The surging prevalence of the bipolar disorder, administration support for generating attentiveness regarding the bipolar disorder, and technological developments that enable accurate identification of a patient’s mood and mental state are some of the aspects that are propelling the expansion of this market. For example, the use of tricyclic antidepressants has reduced in the last few years due to the higher prevalence of side effects than other drugs utilized for treating bipolar disorder.

Some of the key players in this market are Pfizer Inc.; Glaxo SmithKline (GSK); Eli Lilly; Janssen Pharmaceuticals; Novartis AG; Allergan Plc.; Otsuka Holdings Co. Ltd; AbbVie Inc.; and AstraZeneca.

Surge In Research Activities & Awareness Campaigns To Stimulate The Global Bipolar Disorder Market

The governments of many countries are allocating funding for the research of bipolar disorder and launching awareness campaigns to suppress the stigma linked with bipolar disorder. The technological development is further helping the market to grow, as the increased use of smartphones, wearable devices, and smartwatches facilitates precise diagnosis of a patient’s mood & mental state and also stores behavioral, physiological, and environmental data efficiently. Besides this, the introduction of online self-management tools related to mental disorders facilitates timely intervention and enhanced adherence to recommended treatment. Nevertheless, many of the drugs utilized for bipolar disorder treatment exhibit associated side effects which comprise addiction of the body to the drug, blurred vision, diabetes & cholesterol issues, damage to the liver, and thyroid. The expiration of blockbuster drugs patent in this market can significantly impact market dynamics.

The global bipolar disorder market is bifurcated on the basis of drug class, mechanism of action, and regional analysis. Based on the drug class, the market is divided into anticonvulsants, mood stabilizers, antidepressant drugs, antipsychotic drugs, and antianxiety drugs. Based on the mechanism of action, the market is divided into serotonin norepinephrine reuptake inhibitors, selective serotonin reuptake inhibitors, monoamine oxidase inhibitors, tricyclic antidepressants, beta blockers, and benzodiazepines.

The North American Region Projected To Witness Major Share In The Global Bipolar Disorder Market

Based on geographical analysis, the global bipolar disorder market is divided into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. The North America region contributed approximately 61.3% share in the market during 2016, due to the increasing prevalence of bipolar disorder across the region. This can be owing to insufficient sleep, high-stress levels, and the trend of substance abuse among the population. Additionally, the administrative initiatives for generating awareness and supporting patients having bipolar disorder are expected to boost the market growth across this region. The Asia Pacific region is likely to witness higher CAGR during the forecasted period than other regions, which can be owing to the high incidence of mental disorders in this region. As per WHO (World Health Organization) data, China and India rank amongst the countries most affected by mental disorders like schizophrenia, anxieties, and bipolar disorder.

Browse the full “Bipolar Disorder Market - By Drug Class (Anticonvulsants, Mood Stabilizers, Antidepressant Drugs, Antipsychotic Drugs, and Antianxiety Drugs), By Mechanism Of Action (Serotonin Norepinephrine Reuptake Inhibitors, Selective Serotonin Reuptake Inhibitors, Monoamine Oxidase Inhibitors, Tricyclic Antidepressants, Beta Blockers, and Benzodiazepines), And By Region - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2019 – 2025.” Report at https://www.zionmarketresearch.com/report/bipolar-disorder-market

The global bipolar disorder market is segmented as follows:

By drug class:

• Antipsychotic drugs
• Mood Stabilizers
• Anticonvulsants
• Antidepressant drugs
• Antianxiety drugs

By the mechanism of action:

• Serotonin Norepinephrine Reuptake Inhibitors
• Selective Serotonin Reuptake Inhibitors
• Benzodiazepines
• Tricyclic Antidepressants
• Monoamine Oxidase Inhibitors
• Beta Blockers

By region:

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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