Bipolar Disorder Market Size, Share, Trends, Growth and Forecast 2032

Bipolar Disorder Market Insights

Zion Market Research has published a report on the global 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 report explores the factors fueling market growth, the hitches that could hamper this expansion, and the opportunities that may arise in the Bipolar Disorder industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.

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Bipolar Disorder Market: Introduction

Bipolar disorder is a mental disorder resulting in extreme shifts in moods. Symptoms of bipolar disorder include elevated moods referred to as mania or hypomanic episodes and episodes of depression. These disorders are classified into bipolar disorder type I and bipolar disorder type II. Furthermore, bipolar disorder is the blend of three features encompassing complete genetic diathesis, distinct medical characteristics, and easy availing of lithium for treating the disorder. Apart from lithium, other anticonvulsants that are utilized for treating bipolar disorders are Tegretol, Lamictal, and valproic acid. While lithium and valproic acid are utilized for treating mania, Lamictal is used for treating depression.

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Bipolar Disorder Market: Growth Drivers

Escalating awareness about diagnosing and treating bipolar disorders along with unmet requirements for treating the disorder will prompt the expansion of the bipolar disorder industry over the forecast timeline. Surging awareness about disorder among the public will promulgate market growth over the estimated timeline. Apart from this, technological breakthroughs in detecting genetic disorders and the rise in the medical treatment alternatives for these ailments are a few of the key factors driving the market expansion over the forecast timespan.

Furthermore, favorable government schemes such as the introduction of a bipolar disorder phenome database funded through the national institute of mental health are predicted to provide in-depth information pertaining to disease symptoms, thereby further embellishing the market trends. Nonetheless, strict laws launched by the government regarding the approval of anti-convulsants due to the side effects witnessed in the patients with its intake will put brakes on the growth of the bipolar disorder industry over the forecast timeline.

The Bipolar Disorder Market is growing due to several key drivers. These include:

1. Increasing Prevalence of Bipolar Disorder

• Rising awareness and improved diagnostic techniques have led to a higher reported incidence of bipolar disorder, boosting the demand for treatment options.

2. Advancements in Therapeutics

• Ongoing research in psychopharmacology has resulted in new, more effective medications with fewer side effects, improving patient adherence and treatment outcomes. This includes mood stabilizers, atypical antipsychotics, and anticonvulsants.

3. Growing Awareness of Mental Health

• Campaigns and initiatives aimed at reducing the stigma associated with mental health conditions have made it easier for people to seek help. Governments, healthcare organizations, and NGOs are playing key roles in raising awareness.

4. Government Support and Reimbursement Policies

• Increased government initiatives, such as mental health care policies and reimbursement schemes, have supported the availability of bipolar disorder treatments, making them more accessible to patients.

5. Technological Advancements in Diagnostics

• Advances in diagnostic tools, including imaging technologies like MRI and biomarkers, are improving early detection, which is crucial for effective treatment and disease management.

6. Rise in Research and Development (R&D) Investments

• Pharmaceutical companies are heavily investing in the development of novel drugs and therapies. Clinical trials are increasingly focusing on personalized medicine, which is driving growth.

7. Increase in Co-occurring Disorders

• The rising number of cases where bipolar disorder occurs alongside other mental health disorders (like anxiety or substance abuse) has increased the need for comprehensive treatment solutions, expanding market demand.

8. Digital Health Technologies

• Telemedicine and mobile health applications are enabling patients to better manage their symptoms and communicate with healthcare providers, which is supporting market expansion.

9. Aging Population

• With an aging global population, the risk of mental health disorders, including bipolar disorder, is higher, contributing to the increased demand for diagnosis and treatment.

10. Improved Healthcare Infrastructure

• The global development of healthcare infrastructure, especially in emerging markets, is increasing access to treatments and mental health services.

These growth drivers, combined with evolving healthcare policies and societal attitudes, are shaping the bipolar disorder market and contributing to its expansion.

Bipolar Disorder Market: Report Scope

Bipolar Disorder Market: Regional Insights

North American Market To Attain Highest Gains Over Forecast Timeline

The expansion of the industry in the sub-continent over the forecast timeline is owing to the surging occurrence of bipolar disorder in the countries like the U.S. and Canada. Additionally, the availability of strong healthcare infrastructure facilities and the rise in the occurrence of bipolar disorders will provide lucrative growth avenues for the market in the region over the forecast timespan. Citing an instance, National Alliance on Mental Illness stated that nearly one in every five adults in the U.S. suffered from a mental disorder each year, and this required hospitalization. All these factors will prompt the regional industry expansion over the forecast timeframe.

Bipolar Disorder Market: Competitive Space

Key participants profiled in the report include-

• Otsuka Holdings Co. Ltd
• Janssen Pharmaceuticals
• Pfizer Inc.
• Novartis AG
• Glaxo SmithKline (GSK)
• AbbVie Inc.
• Eli Lilly
• Allergan Plc.
• AstraZeneca.

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 The Middle East & Africa