Bipolar Disorder Market Future: Trends Shaping Mental Health Treatment

The global bipolar disorder market is anticipated to reach USD 5.87 billion by 2030, growing at a CAGR of 2.7% from 2024 to 2030, 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.

 

 

Access the Bipolar Disorder Market Size, Share & Trends Analysis Report By Type (Mood Stabilizer, Anticonvulsants, Antipsychotic Drugs), By Drug Class, By Distribution Channel, By Region, And Segment Forecasts, 2024 - 2030

 

 

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.

 

 

Bipolar Disorder Market Report Highlights

·        The mood stabilizer segment dominated the market in 2023, with a share of 35.0% in 2023 due to the rising prevalence of bipolar disorder.

 

·        The selective serotonin reuptake inhibitor segment dominated the market in 2023, with a share of 25.0%. The factors responsible for the market growth are the efficacy and safety profile of selective serotonin reuptake inhibitors (SSRIs), which are effective in managing the depressive symptoms occurring due to bipolar disorder.

 

·        The hospital pharmacies segment dominated the market in 2023, with a share of 49.8% in 2023. This market growth was attributed to the increase in the number of patients seeking a diagnosis of their mental health.

 

·        North America dominated the bipolar disorder market with a market share of 39.4% in 2023. This was attributed to the increase in the cases of bipolar disorders and the presence of significant medical institutes in the region.

 

Order your free sample copy of “Bipolar Disorder Market Report 2024 - 2030, published by Grand View Research

 

Key Bipolar Disorder Company Insights

 

Some of the major companies in the global bipolar disorder market are AstraZeneca, Eli Lilly and Company, GSK plc, Johnson & Johnson Services, Inc., Pfizer, Inc. Companies are focusing on developing medicines and therapies in order to target various type of cancers. Companies are also focusing on reducing the side effects of medicines and treatments involved in treating bipolar disorders.

 

·        Pfizer, Inc. is a pharmaceutical and biomedical company, specializing in the research, production, and promotion of medications and vaccines for both people and animals. Pfizer collaborates with health care providers, governments and local communities to support and expand access to health care around the world.

 

·        AstraZeneca plc is a pharmaceutical and biotechnology company, which offers products for various major diseases such as oncology, cardiovascular, gastrointestinal, infection, neuroscience, respiratory, and inflammation.

 

 

Key Bipolar Disorder Companies:

 

The following are the leading companies in the bipolar disorder market. These companies collectively hold the largest market share and dictate industry trends.

 

·        AstraZeneca

·        Eli Lilly and Company

·        GSK plc

·        Johnson & Johnson Services, Inc

·        Pfizer Inc.

·        AbbVie Inc.

·        Otsuka Holdings Co., Ltd.

·        Bristol-Myers Squibb Company

·        Teva Pharmaceutical Industries Ltd.

·        Sumitomo Pharma America, Inc.

 

Recent Developments

 

·        In December 2023, Bristol-Myers Squibb Company acquired Karuna Therapeutics, a biopharmaceutical company that develops medicines related to psychiatric and neurological conditions. This acquisition strengthened the neuroscience portfolio of Bristol-Myers Squibb Company.

 

About Grand View Research:

Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies, ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials, and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit www.grandviewresearch.com

 

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