Bipolar Disorder Treatment Market to 2025 - Industry Applications, Market Size, Segmentation, Company Share.
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Increasing government as well as private support to diminish the bipolar disorder to boost the global market growth significantly
The global bipolar disorder treatment market is majorly driven by factors such as increasing prevalence of bipolar disorder. According to the National Institute of Mental Health, approximately 10 million people in the U.S. develop this illness sometimes during their lives. And about half of them never receive the correct diagnosis or treatment. Moreover, according to the World Health Organizations (WHO), bipolar disorder is the 6th leading cause of disability in the world. However, increase in consciousness for the treatment and diagnosis of bipolar disorder and unmet desires in the treatment of the disorder are the major drivers for the growth of the global bipolar disorder treatment market. Growing recognition of society for the mental illness is encouraging people to get a treatment for this disorder. In addition, advancement in technology to identify the genes responsible for this disease are another major factor driving the global growth of bipolar disorder treatment market. Increasing government support including the launch of Bipolar Disorder Phenome Database, funded by the National Institute of Mental Health (NIMH) to provide complete info concerning symptoms and signs of the illness has further contributed to the significant growth of the market. In addition, key players and medical institutions are also playing a vital role by leading continuous efforts in research development to produce novel drugs and treatments for bipolar disorder. For instance, the John Hopkins University of Medicine and Salk Institute for Biological Studies have launched an initiative in order to develop drug screening methods regarding bipolar disorder and schizophrenia.
However, factors such as side effects of anticonvulsants, strict regulatory outlines, and an inadequate number of approved anticonvulsants are factors anticipated to hamper the market growth.
Global Bipolar Disorder Treatment Market Taxonomy:
The global bipolar disorder treatment market is segmented on the basis of drug class, Mechanism of Action, and geography.
On the basis of drug class, the global bipolar disorder treatment market is segmented into:
• Mood Stabilizers
• Antipsychotic drugs
• Antidepressant drugs
• Antianxiety drugs
On the basis of mechanism of action, the global bipolar disorder treatment market is segmented into:
• Selective Serotonin Reuptake Inhibitor
• Serotonin Norepinephrine Reuptake Inhibitors
• Tricyclic Antidepressants
• Monoamine Oxidase Inhibitors
• Beta Blockers
Geographically, the global bipolar disorder treatment market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Growing occurrence of disease demanding proper cure is anticipated to fuel the market growth in North America
On the basis of geography, North America is estimated to dominate the market with major share in bipolar disorder treatment market. The major market share is due to increasing prevalence of bipolar disorder in this region. Increasing trend of substance abuse amongst the population, insufficient sleep, and high-stress levels are the major factors for the bipolar disease in North America. In addition, government support generating attentiveness and associate patients with bipolar disorder is also fueling market growth in this region. For instance, in 2016, the branch of the U.S. Department of Health and Human Services including Substance Abuse and Mental Health Services Administration’s (SAMHSA) and Center for Mental Health Services (CMHS), has expanded its support for mental health treatment and recovery. such initiatives enhancing the bipolar disorder treatment market growth in North America.
However, Asia Pacific is anticipated to make a dominating growth during the forecast period. Increasing in the number of people suffering this disorder is anticipated to boost the demand for the treatment of this disorder. According to WHO, India and China possess most number of patients with mental disorders including schizophrenia, anxieties, and bipolar disorder. As an outcome, the number of people demanding the proper treatment is anticipated to be responsible for the growth of the bipolar disorder treatment market in the Asia Pacific.
Key players in global bipolar disorder treatment market:
• Glaxo SmithKline (GSK)
• Pfizer Inc.
• Janssen Pharmaceuticals
• Eli Lilly and company
• Allergan Plc.
• Novartis AG
• AbbVie Inc.
• Otsuka Holdings Co. Ltd
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