Bipolar Disorder Therapeutics Market Report 2024 - Bipolar Disorder Market Opportunities And Statistics

"The Business Research Company recently released a comprehensive report on the Global Bipolar Disorder Therapeutics Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The bipolar disorder therapeutics market size has grown strongly in recent years. It will grow from $7.09 billion in 2023 to $7.53 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to rise in medical research and developments, increased healthcare expenditure, rise in prevalence of mental health disorders, rise in patient advocacy.

The bipolar disorder therapeutics market size is expected to see strong growth in the next few years. It will grow to $9.46 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to increasing prevalence of bipolar disorder, government initiatives, expansion of healthcare infrastructure, growing adoption of a sedentary lifestyle. Major trends in the forecast period include personalized treatment approaches, digital health integration, innovative medications, preventive interventions, neuroimaging and biomarkers.

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Market Drivers and Trends:
The increase in the prevalence of bipolar disorder is expected to propel the growth of the bipolar disorder therapeutics market going forward. Bipolar disorder refers to a disabling illness that is associated with depressive mood swings and includes symptoms such as irregular sleep, low motivation, and loss of interest in daily activities. Population growth and aging are leading to an increase in the burden of bipolar disorder over time. As a result, an increase in the prevalence of bipolar disorder increases the demand for the bipolar disorder therapeutics market. For instance, according to the Depression and Bipolar Support Alliance, a US-based non-profit association providing support to the patients of depression or bipolar disorder, in 2021, approximately 5.7 million adult Americans which was about 2.6% of the U.S. population were affected by bipolar disorder. The median age of the onset of bipolar disorder is 25 years, and more than two-thirds of people suffering from bipolar disorder had at least one relative with the illness. Therefore, the increase in the prevalence of bipolar disorder is driving the growth of the bipolar disorder therapeutics market.

Strategic partnerships have emerged as a key trend gaining popularity in the bipolar disorder therapeutics market. Major companies operating in the bipolar disorder therapeutics sector are focused on partnerships to reinforce their position. For instance, in October 2021, Mindpax Inc., a Germany-based digital technology company operating in the bipolar disorder therapeutics market, partnered with Eversana Life Science Services LLC, a US-based life sciences company operating in the bipolar disorder therapeutics market. Through this partnership, both companies will develop remote clinical assessments and targeted digital therapy to improve patients' clinical conditions and provide personalized therapeutic interventions to bipolar patients. Furthermore, in November 2020, Biogen, a US-based biotechnology company, partnered with Sage Therapeutics, a US-based company that develops novel therapies including bipolar. Through this partnership, both businesses will work together to commercialize zuranolone (SAGE-217) for significant postpartum depression (PPD), depressive disorder (MDD), and other psychiatric diseases.

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Major Key Players of the Market:
AbbVie Inc., Pfizer Inc., Astellas Pharma Inc, AstraZeneca PLC, Bristol-Myers Squibb, GlaxoSmithKline PLC, Januaryssen Pharmaceuticals, Novartis AG, Otsuka Pharmaceutical Co. Ltd., Validus Pharmaceuticals, Eli Lilly and Company, Gedeon Richter PLC., Sumitomo Pharma Co. Ltd, H. Lundbeck A/S, Janssen Pharmaceuticals, Sanofi S.A., Lundbeck A/S, Allergan plc, Takeda Pharmaceutical Company Limited, Sunovion Pharmaceuticals Inc., Alkermes plc, Mylan N.V., Teva Pharmaceutical Industries Ltd., Johnson & Johnson, Celon Pharma SA, NeuroRx Inc., IntraCellular Therapies Inc., Sumitomo Pharma Co. Ltd., Vanda Pharmaceuticals Inc., Sage Therapeutics Inc.

Bipolar Disorder Therapeutics Market 2024 Key Insights:
• The bipolar disorder therapeutics market size is expected to see strong growth in the next few years. It will grow to $9.46 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%.
• A Lifelong Condition That Requires Early Diagnosis And Proper Treatment
• Strategic Partnerships Driving Growth In The Bipolar Disorder Therapeutics Market
• North America was the largest region in the bipolar disorder therapeutics market in 2023

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