Global 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) 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), as highlighted in a new report published by Coherent Market Insights.
There is a tremendous unmet medical need in depression, therefore key market players are engaged in the adoption of inorganic strategies such as collaboration and agreement which is expected to drive market growth over the forecast period. For instance, in November 2020, Biogen Inc., a biotechnology company, and Sage Therapeutics, Inc., a clinical-stage biopharmaceutical company, announced that they had executed a global collaboration and license agreement to jointly develop and commercialize zuranolone (SAGE-217) for major depressive disorder (MDD), postpartum depression (PPD), and other psychiatric disorders and SAGE-324 for essential tremor and other neurological disorders.
Global Bipolar Disorder treatment Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems with regard to the transportation of drugs from one place to another.
COVID-19 had a minor negative impact on the global bipolar disorder treatment market. For instance, according to World Health Organization (WHO), key facts updated in June 2022, 1 in every 8 people in the world live with a mental disorder. Due to the COVID-19 pandemic, the number of people who suffer from anxiety and depressive illnesses greatly increased in 2020.
Global Bipolar Disorder Treatment Market: Key Developments
In February 2022, Sunovion Pharmaceuticals Inc., a pharmaceutical company, and Otsuka Pharmaceutical Development & Commercialization, Inc., a pharmaceutical company, announced that the first patient has been randomized in SEP380-301, a Phase 3 clinical study evaluating non-racemic amisulpride (SEP-4199) for the treatment of major depressive episodes associated with bipolar I disorder (bipolar depression). Non-racemic amisulpride is being jointly developed and commercialized as part of a collaboration between Sunovion, its parent company Sumitomo Dainippon Pharma and Otsuka Pharmaceutical Co., Ltd.
Browse 35 Market Data Tables and 34 Figures spread through 170 Pages and in-depth TOC on “Global Bipolar Disorder treatment Market”- Forecast to 2030, Global Bipolar Disorder Treatment Market, by Product and Services (Software, (On-Premises, Web-Based) and Services, (Support & Maintenance, Training & Consulting)), by Infection Type (Surgical Site Infections, Blood Stream Infections, Urinary Tract Infections) by End User (Hospitals, Clinics, Ambulatory Surgical Center, Other (Specialty Center, etc.), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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Key Takeaways of the Global Bipolar Disorder Treatment Market:
- The global bipolar disorder treatment market is expected to exhibit a CAGR of 5.4% during the forecast period due to increasing launches and approvals of new drugs for the treatment of bipolar disorder, which is expected to drive the growth of the global bipolar disorder treatment market over the forecast period. For instance, in May 2019, Allergan plc and Gedeon Richter Plc. received the U.S. Food and Drug Administration (FDA) approval for its supplemental new drug application (sNDA) of VRAYLAR (cariprazine), anoral, once daily atypical antipsychotic drug for expanded use and treatment of depressive episodes associated with bipolar I disorder (bipolar depression) in adults.
- Among drug class, the anti- anxiety drug class segment is estimated to fastest growing in the global bipolar disorder treatment market over the forecast period. For instance, in April 2022, BioXcel Therapeutics, Inc.,, a biopharmaceutical company, announced that the U.S. Food and Drug Administration (FDA) has approved IGALMI (dexmedetomidine) sublingual film for the acute treatment of agitation associated with schizophrenia or bipolar I or II disorder in adults.
- Among region, North America is expected to be the dominant region in the global bipolar disorder treatment market, owing to the increasing prevalence of bipolar disorder, which is expected to drive the growth of the market over the forecast period. For instance, according to the National Institute of Mental Health estimates, it is estimated that 82.9% of people with bipolar disorder had a serious impairment, the highest percent serious impairment among mood disorders and 2.8% of U.S. adults had bipolar disorder.
- Major players operating in the global bipolar disorder treatment market include Takeda Pharmaceutical Company Limited, Pfizer, Inc., Allergan plc, Otsuka Holdings Co. Ltd., Johnson & Johnson, Eli Lilly and Company, GlaxoSmithKline plc, AstraZeneca Plc, Novartis International AG, AbbVie Inc., H. Lundbeck A/S, Minerva Neurosciences, Sumitomo Dainippon Pharma Co., Ltd., Intra-Cellular Therapies Inc., Gedeon Richter Plc., and Indivior PLC
