CAGR: 3%Current Market Size: USD 6 BillionFastest Growing Region: APAC
Largest Market: North AmericaProjection Time: 2023-2030Base Year: 2022
The global bipolar disorder market is expected to grow from USD 6 billion in 2022 to USD 7.6 billion by 2030, at a CAGR of 3% during the Projection period 2023-2030. The growth of the bipolar disorder market is mainly driven by the increase brain disorders.
Bipolar disorder is sometimes commonly known as manic-depressive illness. It is a mental condition in which a person's mood as well as activity levels swing wildly. A person’s mood swings are triggered by changes in their mental state. A person with bipolar disorder can be happy, cheerful, and energized one moment and sad, helpless, and slow the next. Because of these distinct moods or two poles of mood, this psychiatric condition is known as bipolar disorder. According to some scientists and academics, some specific people with particular genes are more prone to develop such disorders. Children having a parent or any sibling with bipolar disorder are generally more likely to get the disease than children without any family history of such illness. Due to the contrasting moods, or maybe two poles of mood, this mental disorder is called Bipolar Disorder. According to Several research projects, some genes played a role in developing Bipolar Disorder. Generally, People who have a family history of such disorder are more likely to acquire it. Such mood swings can harm the reputation of a person at school, work, or maybe in society. Tricyclic Antidepressant Drugs, Serotonin Norepinephrine Reuptake Inhibitors, Benzodiazepines, Monoamine Oxidase Inhibitors, Beta Blockers, and Others are examples of the mechanisms of their action. Bipolar diseases have affected people around 45 million across the globe. It often includes both manic and depressive episodes and those periods of normal mood. People having periods without any depressive periods can be diagnosed easily with bipolar disorder.
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Market Dynamics:
Drivers:
Technological advancements are aiding the market growth, as the usage of smartwatches, smartphones, and wearable devices are facilitating proper detection of a patient’s mood as well as the mental state and also captures behavioral, physiological, and environmental data effectively. Moreover, the advent of online self-management tools specially made for mental disorders enables timely intervention & better adherence to the prescribed treatment. An increase in knowledge regarding the diagnosis and treatment of this Disease and the undiscovered needs in the treatment is aiding the growth of the market. In addition, the rise of therapeutic options for genetic disorders and the improvement of technology in diagnosing genetic illnesses are the key drivers of market maturity.
Restraints:
Most of the drugs that are used in the treatment of bipolar disorder have included the side effects like diabetes and cholesterol issues, addiction of the body to the drug, damage to the liver, blurred vision, and thyroid, among others. Some studies have also linked some of the drugs to severe side effects like teratogenic changes in the fetus if used by pregnant women and causing renal failure. Further, bipolar disorder may be misdiagnosed as personality disorder and depression most of the time which may lower the treatment rates and diagnosis of this mental disorder. In addition, the patent expiry of drugs in this market may also be seen as a major restraint of the market dynamics.
Opportunities:
The main strategies that are adopted by the market players mainly include the development of new drugs associated with bipolar disorder counter medication by investment in research and development (R&D) activities. Getting approvals for those over-the-counter medications is the major step in gaining recognition for the medicines that are newly developed. Expanding business activities by acquiring and merging the locally established manufacturers whoever is supplying mood stabilizer medications over the counter in any area can be seen further as an opportunity to grow the market.
Challenges:
Bipolar depression has started getting more attention in clinical partially recently, in spite of the fact that patients used to spend more time in the depression phase than in the manic phase of this disorder. The management and diagnosis of bipolar depression are really very challenging, and many patients are misdiagnosed or may be misdiagnosed due to similarities in symptoms with unipolar depression and other illnesses or comorbidities. There may be severe consequences If this disorder is not treated or inappropriately treated. Further, bipolar depression generally adds to the burden of illness and is usually related to a greater risk of suicide.
Segmentation Analysis:
The global bipolar disorder market has been segmented based on drug class, mechanism of action and region.
By Drug Class
The drug class segment is anticonvulsant, mood stabilizer, antidepressant drug, antipsychotic drug, and others. The anticonvulsant segment led the largest share of the bipolar disorder market with a market share of around 40% in 2022. Anticonvulsants effectively treat bipolar depression by reducing depressive symptoms while preventing the onset of mania. These medications get around the problems that standard antidepressants have since they maintain the mood without producing mania or speeding up an episode. Over the course of the Projection period, the market segment's expansion will be mostly driven by the widespread usage of anticonvulsants, either as a stand-alone medication or as a component of combination therapy.
By Mechanism of Action
The mechanism of action segment is a serotonin norepinephrine reuptake inhibitor, selective serotonin reuptake inhibitor, beta blockers, tricyclic antidepressant drug, and others. The serotonin norepinephrine reuptake inhibitor segment led the largest share of the bipolar disorder market with a market share of around 39% in 2022. The reasons that can be credited as they manage some manic symptoms, such as agitation, restlessness, and insomnia until mood-stabilizing medications take action are boosting demand for this market.
Global Bipolar Disorder Market - Sales Analysis.
The sale of the bipolar disorder market expanded at a CAGR of 2.2% from 2016 to 2022.
Unmet demands in the treatment of the disease and growing public awareness of the diagnosis and treatment of bipolar disorder are the key factors driving the market's expansion. People who have mental illnesses are receiving treatment thanks to society's growing acceptance of the condition. The maturation of the market is also significantly influenced by the growth in genetic disease treatment choices and technological advancements in diagnosing genetic abnormalities. Furthermore, government programs like the Bipolar Disorder Phenome Database, financed by the National Institute of Mental Health (NIMH), offer thorough details on the condition's indications and symptoms.
This feature is expected to favourably contribute to the growth of the global market for bipolar disorder. There are some restrictions and limitations that will impede market expansion. The market growth is being constrained by factors including strict regulatory frameworks, anticonvulsant adverse effects, and the small number of licensed anticonvulsants. However, the use of smartphones, smartwatches, and other wearable technology as well as the unrealized potential in emerging regions present intriguing growth opportunities.
Thus, owing to the aforementioned factors, the global bipolar disorder market is expected to grow at a CAGR of 3% during the Projection period from 2023 to 2030.
By Regional Analysis:
The regions analyzed for the bipolar disorder market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America region dominated the bipolar disorder market and held a 42% share of the market revenue in 2022.
Global Bipolar Disorder Market - Country Analysis:
Germany's bipolar disorder market size was valued at USD 0.45 billion in 2022 and is expected to reach USD 0.55 billion by 2030, at a CAGR of 2.7% from 2023 to 2030. The market in Germany will grow as a result of the high levels of stress, inadequate sleep, the tendency of substance addiction among the populace, and ongoing initiatives.
China’s bipolar disorder market size was valued at USD 0.77 billion in 2022 and is expected to reach USD 1.02 billion by 2030, at a CAGR of 3.7% from 2023 to 2030. A few of the factors fueling the growth of this market in the region include the rising prevalence of bipolar illness, government assistance for raising awareness about the condition, and technology advancements that enable precise detection of a patient's mood and mental state. In contrast to other medications used to treat bipolar disorder, the use of tricyclic antidepressants has decreased over time as a result of their higher prevalence of side effects.
India's bipolar disorder market size was valued at USD 0.67 billion in 2022 and is expected to reach USD 0.86 billion by 2030, at a CAGR of 3.2% from 2023 to 2030. The adoption of smartphones, smartwatches, and other wearable technologies makes it easier to accurately detect a patient's mood and mental condition and to effectively gather physiological, behavioural, and environmental data, which is helping the industry grow in the region.
Key Industry Players Analysis:
To increase their market position in the global bipolar disorder market business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.
Latest Development:
Report Metrics
Report Attribute |
Details |
Study Period |
2022-2030 |
Base year |
2022 |
CAGR (%) |
3% |
Market Size |
6 billion in 2022 |
Projection period |
2023-2030 |
Projection unit |
Value (USD) |
Segments covered |
By Drug Class, By Mechanism of Action, and By Region. |
Report Scope |
Revenue Projection, competitive landscape, company ranking, growth factors, and trends |
Companies covered |
Otsuka Holdings Co. Ltd, Janssen Pharmaceuticals, Allergan Plc., Glaxo SmithKline (GSK), AbbVie Inc., Novartis AG, Pfizer Inc., Eli Lilly, and AstraZeneca. |
By Drug Class |
|
By Mechanism of Action |
|
Regional scope |
|
Scope of the Report
Global Bipolar Disorder Market By Drug Class:
Global Bipolar Disorder Market By Mechanism of Action:
Global Bipolar Disorder Market By Region:
Global bipolar disorder market is expected to reach USD 7.6 billion by 2030.
The bipolar disorder market is projected to have a CAGR of 3%.
Technological advancements are aiding the market growth, as the usage of smartwatches, smartphones, and wearable devices are facilitating proper detection of a patient’s mood as well as the mental state and also captures behavioral, physiological, and environmental data effectively. Moreover, the advent of online self-management tools specially made for mental disorders enables timely intervention & better adherence to the prescribed treatment.
Based on the mechanism of action, the global bipolar disorder market has been segmented into Serotonin Norepinephrine Reuptake Inhibitor, Selective Serotonin Reuptake Inhibitor, Beta Blockers, Tricyclic Antidepressant Drug, and Others.
Leading market players active in the global bipolar disorder market are Otsuka Holdings Co. Ltd, Allergan Plc., Janssen Pharmaceuticals, Novartis AG, AbbVie Inc., Eli Lilly, Glaxo SmithKline (GSK), Pfizer Inc., and AstraZeneca among others.
Political Factors- Political stability is necessary for business organizations because it influences consumer and investor trust, which greatly impacts the economy. Political turmoil to a high degree has a negative impact on consumer spending, business investment, and economic growth. The region where the bipolar disorder market is active is currently experiencing some political instability as a result of internal and external conflicts. If management is unable to comprehend and control the current political instability, the company may not be able to achieve its growth objectives, and it might be reluctant to spend more money.
Economic Factors- Strong positive correlation between financial market efficiency and overall economic growth allows for capital accumulation and the production of goods and services. The bipolar disorder market must choose countries with highly efficient financial needs so that it can quickly assemble financial and human capital. By monitoring the effectiveness of the financial market, the bipolar disorder market may be able to stay one step ahead of the competition. The bipolar disorder market should take into account the rates of economic growth of the various countries when considering whether to expand abroad. In countries with strong rates of economic growth, there are more possibilities for pursuing long-term growth objectives. When the economy is expanding slowly, consumer spending becomes more conservative, which directly affects the revenue growth of the bipolar disorder market.
Social factors- Economic problems and consumption trends are closely intertwined. When consumers have more discretionary income and are eager to spend more on goods and services to improve their lifestyles, the bipolar disorder market enjoys exciting growth potential. This is due to the ease with which new goods and services may be introduced to these clients, as well as the increased likelihood of revenue growth. To adjust its marketing mix strategies, the bipolar disorder market must closely evaluate the consumption/spending patterns and preferences of today's increasingly discerning consumers.
Technological Factors- The market and industry as a whole may be affected by the speed and advancement of technical innovation. By studying the forthcoming trends in technological innovation, the bipolar disorder market will be able to comprehend the rate of new product development, the length of the product life cycle, and the distinctive features that consumers select. By studying consumer attitudes about cutting-edge, new digital technology, the bipolar disorder market can assess whether moving to e-commerce will be more advantageous than opening a physical site. If competitors use automation technology to reduce costs, the bipolar disorder market may be driven to convert from manual to automated procedures, particularly if the general public is technologically literate.
Environmental Factors- Due to stringent environmental legislation in many different nations, businesses are under pressure to reduce environmental impact. Because failure to do so could lead to harsh, reputation-damaging criticism from relevant stakeholders, the bipolar disorder market should adopt ethical production practices in response, encourage ethical consumption among its target market, work to improve its brand's sustainability reputation, and ensure full compliance with local and international environmental laws. The market for flame-resistant fabric must make preparations in order to adhere to regulations and requirements in the Basic Materials sector.
Legal Factors- Employment law refers to a large area of laws that defend workers' rights, including those to a fair wage, equality, equity, inclusion, fairness, and their bodily and emotional safety. In some countries, employment laws are not effectively enforced, while in others, breaching any of the outlined employee rights is punishable by heavy fines. While entering or operating in these countries, the bipolar disorder market should ensure the security of the working environment. Both direct and indirect discrimination must be prevented, thus the right processes must be in place.
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