United States, Rockville, MD, April 28, 2022 (GLOBE NEWSWIRE) -- The bipolar disorder therapeutics market is projected to rise at a CAGR of 3.1% from 2022 to 2026, as per this new analysis by Fact.MR, a market research and competitive intelligence provider. Currently, the market for bipolar disorder therapeutic drugs accounts for a valuation of US$ 5.9 Bn.
Increasing incidence of bipolar disorders and rising focus on mental health are prime factors that will govern the bipolar disorder therapeutics market potential over the forecast period of 2022-2026. Increasing initiatives from governments across the world to bolster awareness regarding mental health will majorly drive bipolar disorder therapeutics market growth across regions.
Poor lifestyle habits, high-stress environments, rising prevalence of insomnia, and advancements in therapeutics are some other factors that will influence market expansion over the forecast period.
The world has witnessed an increase in focus on mental health over the past few years and this has been majorly driven by increasing stress levels among the population across the globe.
Browse in-depth TOC on "Bipolar Disorder Therapeutics Demand"
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Bipolar disorder drug manufacturers are focusing on the development of novel drugs for treatment, and are pushing for faster approvals by regulatory authorities to ensure higher market penetration and a competitive edge.
- In April 2022, BioXcel Therapeutics, a leading biopharmaceutical company known for its utilization of artificial intelligence in the development of medicine and therapeutics, announced the approval of IGALMI™ (dexmedetomidine) Sublingual Film by the Food and Drug Administration (FDA). This will be used for the treatment of bipolar I and II disorders along with the treatment of schizophrenia.
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Key Takeaways from Market Study
- The global bipolar disorder therapeutics market stands at a value of US$ 5.9 Bn in 2022.
- From 2022 to 2026, the market for bipolar disorder therapeutic drugs is predicted to expand at a CAGR of 3.1%.
- Projected valuation of the bipolar disorder therapeutics market for 2026 is US$ 6.8 Bn.
- Increasing awareness about mental health, rising demand for bipolar disorder drugs, and growing stress levels of the population are major factors driving market growth.
- Bipolar disorder therapeutics market growth is expected to be hampered by the side effects associated with the use of bipolar disorder drugs.
- The United States bipolar disorder therapeutics market accounts for 44.3% of the global market share in 2022.
- The market for bipolar disorder therapeutics in Germany is predicted to rise at a slow CAGR of 2.6% over the forecast period.
“Rising public awareness regarding mental health with supportive government initiatives are expected to boost bipolar disorder therapeutics market potential,” says a Fact.MR analyst
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Winning Strategy
Bipolar disorder therapeutic drug providers are focusing on various strategies to maximize their market presence across the world. These companies are also investing in the research and development of novel drugs and devices to gain a competitive edge over other market players.
Increasing awareness through government initiatives is expected to favor bipolar disorder therapeutic drug manufacturers as they capitalize on this increased awareness and drive their sales funnel. Mania and depression due to mental disorders is a common phenomenon and is often signified by mood swings and sudden mood changes.
Key Segments Covered in Bipolar Disorder Therapeutics Industry Research
- Bipolar Disorder Therapeutics Market by Type:
- Antipsychotics Drugs
- Anticonvulsants
- Mood Stabilizers
- Antidepressant Drugs
- Anti-anxiety Drugs
- Bipolar Disorder Therapeutics Market by Region:
- North America Bipolar Disorder Therapeutics Market
- Latin America Bipolar Disorder Therapeutics Market
- Europe Bipolar Disorder Therapeutics Market
- East Asia Bipolar Disorder Therapeutics Market
- South Asia & Oceania Bipolar Disorder Therapeutics Market
- Mea Bipolar Disorder Therapeutics Market
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global bipolar disorder therapeutics market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2026.
The study divulges essential insights on the market on the basis of drug class (antipsychotics drugs, anticonvulsants, mood stabilizers, antidepressant drugs, anti-anxiety drugs) and across six major regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
Fact.MR’s Domain Knowledge in Healthcare
Our healthcare consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the healthcare sector. Our expertise in recognizing the challenges and trends impacting the global healthcare industry provides indispensable insights and support - encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.
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