Bipolar Disorder Market Size, Share, Growth & Trends | 2031

Report Description

Bipolar Disorder Market Outlook

The Bipolar Disorder Market size was USD 5.20 Billion in 2022 and is likely to reach USD 7.09 Billion by 2031, expanding at a CAGR of 3.5% during 2023–2031. The growth of the market is attributed to the growing incidence of bipolar disorder, technological advancements, and government support for generating awareness about the bipolar disorder. 

Bipolar disorder is a type of mental illness characterized by extensive shifts in mood. The patient may face symptoms as episodes of depression and extremely prominent mood called mania, which is why the disorder is also called as manic depression.

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Patient with bipolar disease faces problems in managing everyday life tasks at work, school, or public relationships management. The patient with bipolar disorder can be joyful, happy, and energized at a certain moment and can become hopeless, sad, and sluggish at the next moment.

Till date, there is no proper cure to the disease but the treatment is available to reduce the severity and to keep a control over the disorder. With rising stress in the daily life of the population and changing lifestyle; addiction to drugs, smoking, and use of alcohol are the factors leading to prevalence of bipolar disorder in the recent times.

As per the Institute for Health Metrics and Evaluation (IHME), the cases of bipolar disorder around the globe varies from 0.3 to 1.2% by country wise estimation. About 45 million people in the world were reported with bipolar disorder in 2017, with nearly equal percentage of male and female. The most common age of the disorder development is the early 20s and people with history of depression are more susceptible to the bipolar disorder.

During the COVID-19 pandemic outbreak, the market showed some positive result due to rising cases of mental depression because of the restriction on business, travel, and tension about health. This increased cases of bipolar disorder during the pandemic proved to be a positive sign for the market expansion.

Market Trends, Drivers, Restraints, and Opportunities

• Vast initiatives by governments across several countries to increase the awareness about the disorder and encourage early diagnosis are expected to boost the market growth.
• Growing investment from private organizations associated to improving mental health of people and high research activities for the treatment of the disease are likely to propel the market expansion.
• Development in technology and wide adoption of the technology in smart watches, smartphones, and wearable devices, which aid to precise recognition of a patient’s mental state. This is anticipated to spur the market revenue.
• Severe side-effects associated with the use of treatment drugs such as addiction of the drug, blurred vision, as well as damage to the thyroid and liver are major challenges that can hamper the market growth. Additionally, the use of these drugs by pregnant women can sometimes lead to teratogenic changes in the baby as well as renal failure.
• The patent expiry of the major drugs and rising number of generic drugs in the market are constraining factors expected to restrict the market growth.

Scope of Bipolar Disorder Market Report

The report on the global bipolar disorder market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Bipolar Disorder Market Segment Insights

Antipsychotic segment is estimated to grow at a substantial pace

Based on drug classes, the global bipolar disorder market is divided into mood stabilizer, anticonvulsants, antipsychotic drugs, antidepressant drugs, and antianxiety drugs. The antipsychotic segment is estimated to grow at a substantial pace owing to the use of antipsychotics in a combination therapy with Selective Serotonin Reuptake Inhibitor (SSRI). The drug therapy is showing great results for the patients and doctors are increasingly prescribing this drug, which lead to the segment growth at a rapid pace.

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The anticonvulsants segment, however, is projected to exhibit a high CAGR during the projected period as the drugs are widely used as depression mood stabilizer by increasing the symptoms of bipolar disorder without triggering mania. It is considered to be better and advanced drug classes than the traditional antidepressant drugs.

SSRI segment is projected to expand at a significant CAGR

On the basis of mechanisms of action, the market is segmented into selective serotonin reuptake inhibitor (SSRI), tricyclic antidepressant drugs, beta blockers, monoamine oxidase inhibitors, Serotonin Norepinephrine Reuptake Inhibitor (SNRI), benzodiazepines, and others. The SSRI segment is projected to expand at a significant CAGR during the projected period as these drugs show highly effective result and fast action.

This inhibitor is extensively used in almost all types of combination therapies. However, the benzodiazepines segment is projected to demonstrate significant growth in the near future owing to wide adoption of the drugs in a combination therapy to control manic symptoms such as agitation, restlessness, and insomnia till the mood-stabilizing drugs starts its effect.

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North America is anticipated to constitute a major market share

In terms of regions, the global bipolar disorder market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of North America is anticipated to constitute a major market share in the coming years due to the large number of people suffering from mental problems and great awareness among the people regarding the disease.

Furthermore, the healthcare infrastructure is well developed to handle the bipolar patients, advanced technologies for fast detections, and government initiative towards research and development for new treatment drugs. For example, in 2016 the Substance Abuse and Mental Health Services Administration’s (SAMHSA) Center for Mental Health Services (CMHS), the part of the U.S. Department of Health and Human Services, has extended its funding for treatment of mental health and recovery.

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Meanwhile, the market of Asia Pacific is estimated to grow at a fast pace during the forecast period as there is a large number of the targeted population base in countries such as India and China. As per a report of the World Health Organization (WHO), China and India stand among the top nations having a high number of patients suffering from mental disorders such as bipolar disorder, schizophrenia, and anxieties.

Moreover, several government organizations are also putting efforts to promote awareness of the disorder in the region. For instance, governments across the region have agreed to launch initiative as the Healthy Asia Pacific 2020, in 2014 under the aegis of the Asia Pacific Economic Cooperation (APEC) body. These factors are set to boost the market in the near future in the region.