Bipolar disorder, also known as manic depression, is a mental disorder that could lead to periods of depression and elevated mood.It is a long-lasting condition and the symptoms are extreme irritability or agitation, a period of feeling empty, loss of interest in normal activities, sleep problems, etc., and can include an extremely elevated mood called mania. These disorders have different types of episodes such as manic episodes, hypomanic episodes, depressive episodes, and mixed episodes. People diagnosed with bipolar disorder may have trouble managing everyday life tasks at school or work, or maintaining relationships, and can be treated by psychotherapy as well as medications such as mood stabilizers and antipsychotics. Bipolar disorder can be categorized into bipolar I, bipolar II, and cyclothymia. The bipolar disorder therapeutics market is anticipated to witness a high growth owing to an increase in the prevalence ofbipolar disorder, government initiatives to increase public awareness, and high demand for anti-depressants.
Rising of bipolar disorder, high unmet medical needs, technological advancement, and government initiatives are expected to drive the market over the forecast period. A significant number of people suffering from this mental condition resort to drinking to lift their mood. According to the National Institute on Alcohol Abuse and Alcoholism, 27.6% of the people with bipolar disorder become addicted to alcohol, while over 16% engaged in alcohol abuse. Factors such as an increment in investment in research and development and collaboration activities between companies are estimated to propel the growth of bipolardisorder therapeutics market. On the other hand, advancements related to combination therapies of drugs provide lucrative opportunities for market growth in the near future.
The bipolar disorder therapeutics market is anticipated to record a significant CAGR over the forecast period i.e. 2020-2028. The market is segmented by drug type and by the mechanism of action. The antipsychotics sector of the drug type segment is anticipated to hold leading shares in the bipolar disorder therapeutics market on account of its suitability with SSRI as part of combination therapy, and demonstrating good results causing a significant number of physicians to opt for antipsychotics. On the contrary, Anticonvulsants constituted a moderate share in the market by serving as effective depression mood stabilizer by alleviating the depressive symptoms of bipolar disorder without precipitating mania, and by overcoming the limitations faced by traditional antidepressants as they stabilize the mood without triggering mania or causing episode acceleration. CLICK TO DOWNLOAD SAMPLE REPORT
According to the Centers for Disease Control and Prevention, most of the MHDs coexist with other diseases such as cardiovascular disease, diabetes, or obesity. In 2017, in the US, depression affected almost 10% of the young population, and 4% of the population lived with serious mental illnesses such as schizophrenia, bipolar disorder, and majordepression. An increment of these MHDs is estimated to act as an important role in the bipolar disorder therapeutics market.
A rise in patient awareness, healthcare awareness, and an increase in investment in research and developments, are some factors that are expected to drive the market over the forecast period.
Bipolar disorder medication can have long-term side-effects such as tremors, muscle spasms, involuntary movements, dry mouth, sore throat, weight gain, increased glucose and lipid levels in the blood and sedation can impede the growth of the market.
Our in-depth analysis of thebipolar disorder therapeuticsmarket includes the following segments:
Based on regions, the bipolar disorder therapeutics market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.
North America is estimated to hold the leading shares of the global bipolar disorder therapeutics market on account of new product innovation, increased awareness among people about the bipolar disease, and a rise in the prevalence of bipolar disorders. The market in the Asia Pacific is expected to witness a higher growth rate owing to an increase in investment in research & development, growing awareness among people, rise in investment by pharmaceutical companies, and availability of skilled manpower for product manufacturing.
The bipolar disorder therapeutics market is further classified on the basis of the region as follows:
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