The global Bipolar Disorder treatment Market is estimated to be valued at US$ 8,732.9 Mn or Bn in 2023 and is expected to exhibit a CAGR of 5.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Bipolar disorder treatment includes drugs, therapy and other methods to manage the symptoms of bipolar disorder. Bipolar disorder is a mental disorder characterized by periods of depression and abnormally elevated moods. Drugs to treat depression and periods of elevated moods are prescribed. There are also psychotherapies available to help manage bipolar disorder.
Market key trends:
One of the key trends in the bipolar disorder treatment market is the growing focus on development of novel therapies. Currently, most treatments only manage symptoms rather than provide a cure. Drug manufacturers are investing heavily in R&D to develop drugs that can modify disease course or provide remission. Some of the novel mechanisms being researched include drugs targeting glutamate and GABA systems involved in mood regulation. Another trend is the increasing adoption of digital therapeutics. Digital apps and programs are being developed to deliver therapy and help patients track and manage their condition in addition to drug therapy. This offers greater treatment convenience and engagement with therapy.
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Market key trends:
One of the key trends in the bipolar disorder treatment market is the rising prevalence of the bipolar disorder globally. According to the World Health Organization (WHO), bipolar disorder affects around 45 million people worldwide. The prevalence of bipolar disorder is almost equal among men and women. The rising cases of bipolar disorder is majorly driving the growth of the treatment market. Moreover, growing awareness regarding early diagnosis and available treatment options for bipolar disorder is also fueling the market growth.
SWOT Analysis
Strength: Wide range of treatment options available for bipolar disorder including drugs, psychotherapy, electroconvulsive therapy etc. This ensures appropriate treatment for all types of patients.
Weakness: High cost of treatment specially immunotherapy drugs which limits its access in low and middle income countries.
Opportunity: Growing mental health awareness programs by governments and NGOs can increase early diagnosis and management of bipolar disorder cases.
Threats: Social stigma associated with mental illness prevents people from seeking timely treatment. Side effects of long term drug therapy can reduce patient compliance.
Key Takeaways
The global bipolar disorder treatment market is expected to witness high growth, exhibiting CAGR of 5.4% over the forecast period, due to increasing awareness about mental health disorders and available therapies.
Regional analysis: North America currently dominates the global market due to increasing prevalence of bipolar disorder in the region. According to National Institute of Mental Health, approximately 4.4% US population suffers from bipolar disorder. Moreover, favorable reimbursement policies and regular new product launches will help North America to retain its leading position in the market during the forecast period.
Key players operating in the bipolar disorder treatment are Takeda Pharmaceutical Company Limited, Pfizer, Inc., Allergan plc, Otsuka Holdings Co. Ltd., Johnson & Johnson, Eli Lilly and Company, GlaxoSmithKline plc, AstraZeneca Plc, Novartis International AG, AbbVie Inc., H. Lundbeck A/S, Minerva Neurosciences, Sumitomo Dainippon Pharma Co., Ltd., Intra-Cellular Therapies Inc., Gedeon Richter Plc., and Indivior PLC.
