Bipolar disorder drug market is anticipated to grow at a significant CAGR during the forecast period. The market is growing due to the increased prevalence of the disease coupled with the rising initiatives by the government institution to increase awareness among the population. According to the Institute for Health Metrics and Evaluation, the prevalence of bipolar disorder varies from 0.3 to 1.2 by country. In 2017, almost 46 million people 48% men and 52% women, across the globe were diagnosed with some type of bipolar disorder. The typical age for this disease to grow is mostly among the people aged above 20 years. Hence, the rise in the cases and the increasing need to manage the disease effectively is boosting the growth of the bipolar disorder market growth in the forecast period. However, the insufficient reach of healthcare facilities and unaffordable medication are the major restraining factor for the global bipolar disorder drugs market to grow in certain regions. High suicidal rates and accessibility to better medical therapies would be major factors contributing to the growth of the bipolar disorder drugs market in the forecast period.
The outbreak of COVID-19 has impacted the market positively. According to the study released by the National Library of Medicine, in December 2020, the COVID-19 was associated with distress, anxiety, fear of contagion, depression, insomnia, and various other bipolar disorders. Furthermore, several restrictions prescribed to the COVID-19 patients includes social isolation, fear of contagion, the uncertainty of life and economics which had led to the rise in development of depression, anxiety, and other psychiatric disorder among the population. Thus, to reduce stress and anxiety among the populations, doctors prescribed bipolar disorder drugs to patients with psychiatric and bipolar disorder which have increased the demand for bipolar disorder drugs market globally during the COVID-19 pandemic.
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Bipolar Disorder Drug Market Segmentation
By Drug Class
- Mood Stabilizer
- Anti-Psychotic Drug
- Anti-Depressant Drug
- Anti-Anxiety Drug
By Distribution Channel
- Online Pharmacy
- Offline Pharmacy
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Regional Analysis
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
Company Profiles
- Alkermes
- Allergan
- BioXcel Therapeutics Inc.
- Bristol-Myers Squibb Co.
- Celon Pharma SA
- Eli Lilly and Co.
- Intra-Cellular Therapies, Inc.
- Jina Pharma
- LUNDBECK A/S
- Johnson & Johnson Healthcare
- Merck & Co., Inc.
- NRx Pharmaceuticals, Inc.
- Otsuka Pharmaceutical Co., Ltd.
- Sunovion Pharmaceuticals Inc.
- Sumitomo Dainippon Pharma Co., Ltd.
- VANDA PHARMACEUTICALS
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