The Global Bipolar Disorder Drugs and Treatment Industry is set for steady growth in the coming decade, according to a recent study by Future Market Insights (FMI). The market is projected to reach US$5.8 billion by 2033, reflecting a Compound Annual Growth Rate (CAGR) of 2.72% from 2023 onwards. This growth is attributed to several factors, including rising awareness of bipolar disorder and the continued importance of antipsychotic medications in treatment.
A significant rise has been witnessed in the demand for natural bipolar meds or drugs is anticipated to grow by the patients suffering from such disease. A similar category of drugs, commonly known as bipolar depression treatment medication, is increasingly available in all parts of the world. The healthcare sector was kept as one of the most vital business sectors globally. Some remarkable developments have been witnessed in the field of herbal medicine for bipolar disorder which has emerged as a successful niche for the bipolar disorder drugs and treatment market.
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Global Bipolar Disorder Drugs and Treatment Industry Key Takeaways:
- Bipolar disorders have been recognized as the 6th largest contributor to the total number of disabled persons throughout the world, as revealed by the World Health Organization. To mitigate the serious consequences, modern medical science has developed therapeutic drugs for its treatment that are available as over-the-counter meds in drug stores.
- Previously, the consciousness and awareness concerning the remedial measures for any type of mental disorder were considered below the level. This has resulted in less demand for good medicine for bipolar disorder produced by pharmaceutical companies. However, in the recent past, the surging digital media impact and the acceptance of methods for the treatment of bipolar is reflected in the huge growth in sales of over-the-counter meds for bipolar cases.
- Some old-age natural medications used for bipolar disorder that is actively being researched and developed by pharmaceutical companies to augment their customer base. Many market players have succeeded in creating brand value by supplying mood stabilizers online to customers.
- The demand for medication concerning bipolar disorder from hospitals and healthcare institutes dropped significantly. Surprisingly enough, the number of patients diagnosed with bipolar disorders increased significantly during the worldwide shutdown. However, the market growth for prescribed drugs continued through the increase in the online availability of bipolar meds on e-commerce sites.
Global Bipolar Disorder Drugs and Treatment Industry Competitive Landscape:
The major strategies adopted by key players within the global bipolar disorder drugs and treatment market include the development of new drugs for bipolar disorder countermedication by investing in research and development (R&D) activities. Acquiring approvals for such over-the-counter medications is the most important step in gaining recognition for newly developed medicines. Furthermore, expanding business activities by acquisition and merger of the locally established manufacturers supplying mood stabilizer medications over the counter in any area.
More Insights into the Global Bipolar Disorder Drugs and Treatment Industry:
The North American region is anticipated to dominate the Global Bipolar Disorder Drugs and Treatment Industry. The United States is set to account for around 52.90% of the total market share in 2023.
According to the National Institute of Mental Health (NIMH) data, it has been estimated that the number of people in the USA developing bipolar disorder symptoms at approximately 10 million. With the support of government initiatives and the dissemination of knowledge about the mental condition of such patients, there has been an encouraging environment for their treatment through proper medication for bipolar disorder.
Germany is expected to bode well for the Global Bipolar Disorder Drugs and Treatment Industry by accounting for around 6.90% in 2023.
Top 12 Key Companies Profiled From the Global Bipolar Disorder Drugs and Treatment Industry:
- AbbVie Inc.
- Glaxo SmithKline (GSK)
- ELI Lilly and Company
- Janssen Pharmaceuticals
- Astellas Pharma Inc.
- Bristol Myers Squibb
- Gedeon Richter Plc.
- Lundbeck A/S
- Pfizer Inc.
- Novartis AG
- Otsuka Holdings Co. Ltd
- Validus Pharmaceuticals LLC
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Key Segments Covered in Global Bipolar Disorder Drugs and Treatment Industry Research
Drug Class:
- Mood Stabilizer
- Anticonvulsants
- Anti-Psychotic Drugs
- Anti-Depressant Drugs
- Anti-Anxiety Drugs
Bipolar Disorder:
- Bipolar I Disorder
- Bipolar Ii Disorder
- Cyclothymic Disorder
Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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