The global Bipolar Disorder Drugs And Treatment Market is anticipated to expand at a stable CAGR of 2.72% throughout the forecast US$ 4.4 Billion by the end of the year 2023 to reach a valuation of US$ 5.8 Billion by the year 2033. According to a recent study by Future Market Insights, anti-psychotic drugs are leading the market with an expected share of about 40.2% in the year 2023, within the global market. As per Future Market Insights’ historical analysis, the global bipolar disorder drugs and treatment market expanded at a CAGR of 2.10% from 2017 to 2022.
Changing perspectives about the importance of mental health treatments are predicted to overall sales of over-the-counter medicines for bipolar disorder. The reports by Global Burden of Disease, in 2017, revealed that the prevalence of bipolar disorder ranges from 0.3% to 1.2% among different regions. In recent years, there has been growing awareness about the disorder, shifting the perspective for it as a mental ailment creating a surge in the sale of natural bipolar medication. Furthermore, the market for bipolar disorder drugs and treatment is anticipated to augment due to the changing ideology about mental health.
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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.
Key Takeaways:
- Bipolar disorders have been recognized as the 6th largest contributor to the total disabled person throughout the world, revealed by 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 medication 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.
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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 counter medication 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 Bipolar Disorder Drugs and Treatment Market:
The North American region is anticipated to dominate the global bipolar disorder drugs and treatment market. 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.
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Germany is expected to bode well for the global bipolar disorder drugs and treatment market by accounting for around 6.90% in 2023.
Key Companies Profiled:
- 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
Key Market Segments Covered in 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
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Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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