Pune India, Jan. 30, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the bipolar disorder treatment market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the bipolar disorder treatment market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as drug class, mechanism of action, and regions. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the global bipolar disorder treatment market are GlaxoSmithKline plc, Johnson & Johnson, Takeda Pharmaceutical Company Limited, Allergan plc, Pfizer Inc., Janssen Pharmaceuticals, Minerva Neurosciences, Otsuka Holdings Co. Ltd., Sumitomo Dainippon Pharma Co. Ltd., Novartis AG among others. To achieve a substantial market share in the worldwide bipolar disorder treatment market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
People who suffer from bipolar disorder experience periods of unusually intense emotion, irregular sleep patterns, abnormal levels of activity, and mood episodes. The healthcare provider usually conducts a mental health evaluation for the diagnosis of bipolar disorder based on the patient's symptoms, family history, and life history. It is expected that the market for bipolar disorder treatment will grow due to increasing prevalence and innovations that work with exact recognition of the mental state of a patient. As an example, tricyclic antidepressants have seen a decline over the years because they cause a higher rate of secondary effects compared to other medications used to treat the disorder. There are some factors which are hindering the growth of the market such as side effects associated with the treatment medications and a lack of skilled medical professionals. In the forecast period, factors that could slow down bipolar disorder treatment demand are rising awareness among the general population about the side effects of long-term use of bipolar disorder drugs, as well as increasing patient demand for chemical-free bipolar disorder medications. Moreover, a number of technological advancements are also contributing to the market expansion for bipolar disorder drugs and treatments, as smartphones, wearable devices etc. can be used to detect a patient's emotional and mental state, as well as capture physiological, and behavioural data.
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Scope of Bipolar Disorder Treatment Market Report:
| Report Metric | Information |
| Study Period | 2022-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Market Share Unit | USD Billion |
| Segments Covered | Drug Class, Mechanism of Action, and Regions. |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | GlaxoSmithKline plc, Johnson & Johnson, Takeda Pharmaceutical Company Limited, Allergan plc, Pfizer Inc., Janssen Pharmaceuticals, Minerva Neurosciences, Otsuka Holdings Co. Ltd., Sumitomo Dainippon Pharma Co. Ltd., Novartis AG among others |
Segmentation Analysis
Antipsychotic drugs are expected to be the fastest-growing segment in 2022.
The drug class segment includes antidepressant drugs, mood stabilizers, antipsychotic drugs, antianxiety and others. The antipsychotic drugs segment is expected to witness the highest growth rate during the forecast period Among all bipolar disorder treatments, antipsychotic drugs accounted for the largest percentage of revenue. It is a combination therapy in which an SSRI is used alongside an antipsychotic. The treatment has been extremely successful, which has led more doctors to prescribe it. To control insane side effects, like hallucinations and mania symptoms, antipsychotic drugs are used as a momentary treatment for bipolar disorder.
Selective serotonin reuptake inhibitors are expected to be the fastest-growing segment in 2022.
The mechanism of the action segment includes beta-blockers, selective serotonin reuptake inhibitors, tricyclic antidepressant drugs and others. The selective serotonin reuptake inhibitors are expected to witness the highest growth rate during the forecast period. It has been proposed that the helpful actions of SSRIs are derived from expanding the lack of serotonin, one of the main causes of depression, by inhibiting serotonin reuptake, resulting in the development of serotonin action. SSRIs have a significant influence on different synapses, such as dopamine or norepinephrine
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the bipolar disorder treatment market include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
The North American region witnessed a major share. The bipolar disorder treatment market is expected to grow the fastest in North America during the forecast period, which is attributed to high levels of anxiety, short sleep, and substance abuse patterns among the population. There is a considerable share of the bipolar disorder drugs and treatment market in North America, and this is expected to continue over the projection period, with occasional fluctuations.
Country Analysis
- Germany
Germany's bipolar disorder treatment market size was valued at USD 0.33 billion in 2022 and is expected to reach USD 0.43 billion by 2030, at a CAGR of 3.4% from 2023 to 2030.
Genetic research on bipolar disorder has been developed through technological advances, which have further increased the market. Growing awareness about bipolar disorders has also led to a growing number of mergers and acquisitions among drug manufacturing companies, which is fueling the country's growth market.
- China
China’s bipolar disorder treatment market size was valued at USD 0.34 billion in 2022 and is expected to reach USD 0.45 billion by 2030, at a CAGR of 3.6% from 2023 to 2030.
Growth is driven by the development of healthcare infrastructure, an increase in government initiatives to promote awareness in underserved areas, and a greater rate of strategic collaboration among market players.
- India
India's bipolar disorder treatment market size was valued at USD 0.26 billion in 2022 and is expected to reach USD 0.34 billion by 2030, at a CAGR of 3.5% from 2023 to 2030.
By conducting research studies and developing new medications for bipolar disorder drug therapy, scientific organizations and medical institutions are also actively engaged in treating bipolar disorder, positively impacting the country’s market growth.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven owing to the rising awareness among patients and society about the management of the bipolar disorder.
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