Bipolar Disorder treatment Market, By Drug Class (Antipsychotics, Antidepressants, Mood Stabilizers, and Anti-anxiety Drugs and Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), And by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)

Published In : Apr 2023

Code : CMI2605

Pages :201

Formats :

Excel and PDF

Industry : Pharmaceutical

Bipolar Disorder treatment MarketSize and Trends

The global bipolar disorder treatment market is estimated to be valued at US$ 8,732.9 million in 2023 and is expected to exhibit a CAGR of 5.4% during the forecast period (2023-2030).

The increasing prevalence of bipolar disorder, increased government activities to raise awareness, and technological improvements for bipolare disorder treatment are the main drivers of market expansion for this condition and is expected to drive the global bipolar disorder treatment market over the forecast period. For instance, according to an article published in October 2021, titled "What is the worldwide prevalence of bipolar disorder?" bipolar disorder has an approximate lifetime prevalence of 1% and an approximate one-year prevalence of 0.5% worldwide. There are more cases of bipolar I disorder than bipolar II condition. The World Health Organization (WHO) essential statistics revised in June 2022, stated that 1 in every 8 individuals worldwide suffers from a mental condition. In 2020, the number of persons who experience anxiety and depressive disorders will significantly grow as a result of the COVID-19 pandemic. Initial predictions point to an increase in anxiety and depressive disorders of 26% and 28% in just one year, respectively. 40 million people will have bipolar disorder in 2020, according to the same estimate. Alternating moods are common among those with bipolar illness.

Figure 1. Global Bipolar Disorder Treatment Market Share (%), By Drug Class, 2023

Market- Trends

Global Bipolar Disorder Treatment Market- Trends

Increasing product approvals are expected to propel the market growth over the forecast period

To treat adults with schizophrenia and as adjunctive therapy to lithium or valproate for the maintenance treatment of bipolar disorder in adults, the key market players are focusing on getting product approvals from regulatory authorities is expected to drive the bipolar disorder treatment market over the forecast period. For instance, in January 2023, Luye Pharma Group, an international pharmaceutical company, announced it had received FDA approval for its Rykindo (risperidone), which is an extended-release injectable suspension administered via intramuscular injection once every two weeks.