Lithium Therapy Market Size – USD 103.9 Million in 2018, CAGR of 2.3%, Lithium Therapy Industry Trends – Growing geriatric population

New York, March 09, 2020 (GLOBE NEWSWIRE) -- The global lithium therapy market is expected to reach USD 128.6 Million by 2027, according to a new report by Reports and Data. Lithium Therapy is used as an antipsychotic drug for treating bipolar disorder. Sometimes, it may be utilized in other disorders to supplement an antidepressant that is unable to treat depression effectively.

The growing prevalence of bipolar disorder is a significant factor in influencing the market growth. Bipolar disorder is a neurobiological disorder of the brain that currently impacts nearly 2.3 million people in the U.S. or about 1.0% of the total U.S. population. Suicide is the foremost reason for premature death amongst people who have bipolar disorder, with 15.0% to 17.0% committing suicide, owing to negative symptoms that arise from an untreated illness. Individuals who have bipolar disorder were over 25 times more likely to experience panic disorder and around ten times more likely to experience obsessive-compulsive disorder as compared to people in the general population with the condition.

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The growing geriatric population is likely to boost the market demand in the forecast period. According to a study, bipolar disorder exists in 6.0% of geriatric outpatient appointments, 8.0%–10.0% of geriatric inpatient admissions, 3.0% of geriatric people admitted in nursing homes, and 17% of geriatric patients referred to psychiatric emergency departments. Hence, the worldwide rise in the aging population will be directly proportional to the number of older adults with the condition.

Further key findings from the report suggest

• By dosage form, capsules contributed to the largest market share in 2018 and is likely to grow at a rate of 2.1% in the forecast period. Capsules are taken through the oral route of administration and are available in dosage including 150 mg, 300 mg, and 450 mg.
• By product type, branded product dominated the market in 2018. A branded product is produced by a renowned manufacturer and has the manufacturer's label on it, for instance, Eskalith and Lithobid, among others.
• By distribution channel, hospital & clinic pharmacies contributed to the largest market share in 2018 and is likely to grow at a rate of 2.0% in the forecast period. The factors including higher purchasing power, the existence of highly skilled healthcare professionals, and improved health coverage for hospital-based healthcare services from several private and group insurance plans, among others, are responsible for the high market share of hospitals.
• The market in the Asia Pacific region is estimated to witness the fastest growth rate of 3.5% in the forecast period, due to the improving healthcare infrastructure, rising investments, and better reimbursement scenario.
• Key participants include Pfizer, Alkem, Sun Pharma, Apotek Corp., Glenmark Generics, Intas, Taurus Labs, GlaxoSmithKline, Noven Pharmaceuticals, and Cardinal Health, among others.

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For the purpose of this report, Reports and Data have segmented the global lithium therapy market on the basis of product type, dosage form, distribution channel, and region:

Product Type Outlook (Revenue, USD Million; 2016-2027)

• Generic
• Branded

Dosage Form Outlook (Revenue, USD Million; 2016-2027)

• Capsule
• Solution
• Tablet, Extended Release
• Tablet

Distribution Channel Outlook (Revenue, USD Million; 2016-2027)

• Hospital & Clinic Pharmacies
• Online-Retail Pharmacies
• Offline-Retail Pharmacies

To identify the key trends in the industry, click on the link below:   https://www.reportsanddata.com/report-detail/lithium-therapy-market

Regional Outlook (Revenue, USD Million; 2016-2027)

• North America
  • U.S
• Europe
  • U.K
  • France
• Asia Pacific
  • China
  • India
  • Japan
• Latin America
  • Brazil
• MEA

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