The global bipolar disorder market is anticipated to reach USD 4.9 billion by 2025, growing at a CAGR of 2.10%, according to a new report by Grand View Research, Inc. Government support for generating awareness about the bipolar disorder and technological advancements that facilitate accurate detection of a patient’s mood and mental state are a few of the factors driving the growth of this market.
The rising prevalence of bipolar disorders is likely to propel market growth in the forecast period. Government initiatives also drive the market growth. For instance, International Bipolar Foundation’s Social Security Disability Insurance (SSDI) or Supplemental Security Income (SSI) are programs offered by the Social Security Administration (U.S.) for the benefit of the people affected by bipolar disorder.
Besides, technological advancements in smartphones, smartwatches, and wearable devices improve diagnosis rates by capturing physiological, behavioral, and environmental data effectively to detect the patient’s mood and mental state. Online self-management tools also result in timely intervention, thereby improving diagnosis rates and treatment rates for the disorder. However, the patent expiry of blockbuster drugs in this market is likely to impact market dynamics in the forecast period. Additionally, the drugs in the bipolar disorder market are bound to face intense competition from generic drugs, as treatment options for bipolar disorder. Other factors likely to restrain market growth in the forecast period include side effects associated with bipolar drugs, and misdiagnosis of bipolar disorder.
Further Key Findings From the Study Suggest:
- The antipsychotic segment is expected to dominate the market owing to increasing prevalence of psychosis, and physical illness resulting in depression.
- The serotonin norepinephrine reuptake inhibitor segment is anticipated to dominate the market in the forecast period. The growth of this segment is due to these drugs being primarily used to treat major depression and bipolar disorder, and having better safety profile and tolerability.
- North America is expected to dominate global bipolar disorder market. This can be attributed to the high stress levels, insufficient sleep, and trend of substance abuse amongst the population.
- Some of the major players in this space include GlaxoSmithKline (GSK), Pfizer Inc., Janssen Pharmaceuticals, Eli Lilly, Allergan Plc., Novartis AG, AbbVie Inc., Otsuka Holdings Co. Ltd, and AstraZeneca.
Grand View Research has segmented the global bipolar disorder market on the basis of drug class, mechanism of action, and region:
Drug Class Outlook (Revenue, USD Million, 2014 – 2025)
- Mood stabilizer
- Antipsychotic drugs
- Antidepressant drugs
- Antianxiety drugs
Mechanism of Action Outlook (Revenue, USD Million, 2014 – 2025)
- Selective serotonin reuptake inhibitor
- Serotonin norepinephrine reuptake inhibitor
- Tricyclic antidepressants
- Monoamine oxidase inhibitors
- Beta blockers
Regional Outlook (Revenue, USD Million, 2014 – 2025)
- North America
- Asia Pacific
- Latin America
- Middle East and Africa (MEA)
- South Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.