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Bipolar Disorder Therapeutics Market Set to Surge Significantly During 2017-2025

12-05-2017 07:02 AM CET | Health & Medicine

Press release from: Transparency Market Research

Bipolar Disorder Therapeutics Market Set to Surge

Bipolar disorder, also known as manic-depressive disorder, is a mental illness. It is a mental health problem that primarily affects mood. Symptoms of bipolar disorder are extreme irritability or agitation, a period of feeling empty, loss of interest in normal activities, sleep problems, etc. According to Pfizer, Inc., bipolar disorder affects over 5 million people in the U.S. Bipolar episodes are characterized by a drastic change in behavior and mood, and range from joyful and overexcited (manic episodes) to extremely sad and hopeless (depressive state). These disorders have different types of episodes such as manic episodes, hypomanic episodes, depressive episodes, and mixed episodes. Causes of bipolar disorders include childhood trauma, stressful life events, self-esteem problems, and genetic inheritance. People across the world marked “March 30” as a World Bipolar Day to spread awareness about the disorder and erase the stigma of mental illness. Large number of people suffering from this mental condition resort to drinking to lift their mood. According to the National Institute on Alcohol Abuse and Alcoholism, 27.6% of the people with bipolar disorder become addicted to alcohol, while over 16% engaged in alcohol abuse.

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Rise in prevalence of bipolar disorder, high unmet medical needs, technological advancement and government initiatives are the key factors accelerating the growth of the bipolar disorder therapeutics market. According to the National Institute of Mental Health, in 2016, the Johns Hopkins University School of Medicine and the Salk Institute for Biological Studies co-led a US$ 15.4 Mn effort to develop new systems for quickly screening libraries of drugs for potential effectiveness against schizophrenia and bipolar disorder. Increase in investment in research and development and collaboration activities between companies for product development are the other factors likely to propel the bipolar disorder therapeutics market. In 2015, Aequus and Corium entered into product development collaboration focused on CNS diseases such as autistic disorder, bipolar disorder, schizophrenia, and other major depressive disorders. However, stringent regulations acts as a major restraint of the bipolar disorder therapeutics market.

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The global bipolar disorder therapeutics market can be segmented based on disease type, drug type, distribution channel, and region. In terms of disease type, the market can be classified into bipolar I, bipolar II, cyclothymia, and others. Based on drug type, the global bipolar disorder therapeutics market can be categorized into mood stabilizers, antipsychotics, antidepressants, and others. In terms of distribution channel, the market can be divided into hospital pharmacies, retail pharmacies, and online pharmacies.

Geographically, the global bipolar disorder therapeutics market can be segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

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North America dominates the global bipolar disorder therapeutics market due to new product innovation, increased awareness among people about bipolar disease, and rise in prevalence of bipolar disorders. According to the National Institutes of Health, in the U.S., 48.8% people with bipolar disorder are receiving treatment. Europe is the second largest market for bipolar disorder therapeutics. The market in Asia Pacific is expected to expand at a higher growth rate due to increase in investment in research & development, growing awareness among people, rise in investment by pharmaceutical companies, and availability of skilled manpower for product manufacturing. According to Graphiq, Inc., per year 100,000 people lost their life from bipolar disorder in India has increased by 14.3% since 1990, an average of 0.6% a year.

Major players operating in the global bipolar disorder therapeutics market include Eli Lilly and Company, AstraZeneca plc, Pfizer, Inc., Janssen Pharmaceuticals, Otsuka America Pharmaceutical, Inc., and Allergan plc.

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The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

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