Bipolar Disorder Market Poised to Reach US$ ~7 Bn by 2031, Expanding at 3% CAGR from 2023 to 2031 According to New Report Published by Absolute Markets Insights

HOUSTON, TEXAS, UNITED STATES, July 18, 2023/EINPresswire.com/ -- Global Bipolar Disorder Market Introduction

Bipolar disorder is a brain ailment that causes fluctuations in mood, energy, and capacity to operate. Bipolar illness patients have extreme emotional states that often recur over a period of days to weeks, referred to as mood episodes. Manic/hypomanic (abnormally cheerful or angry mood) or depressed (sad mood) mood episodes are classified. People suffering from bipolar disorder commonly have periods of neutral mood. If treated, people with bipolar illness can live long and productive lives. Bipolar disorder frequently runs in families, 80 to 90 percent of those with bipolar disorder or depression have a family member who has bipolar illness or depression. In susceptible persons, environmental variables such as stress, sleep disruption, and drugs and alcohol may induce mood episodes. Though the specific causes of bipolar disease inside the brain are unknown, it is believed that a chemical imbalance in the brain leads to dysregulated brain activity.

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The integration of digital health solutions in bipolar disorder treatment has gained momentum. Mobile applications, wearable devices, and online platforms are being developed to support self-monitoring, mood tracking, medication adherence, and the delivery of cognitive-behavioral therapy (CBT) and other therapeutic interventions. These tools can enhance patient engagement, provide real-time data to healthcare professionals, and facilitate remote monitoring and support. In December 2021, Fitbit, a maker of wearable gadgets owned by Google, has submitted a patent to monitor people's mental health in a variety of ways. Fitbit's latest invention, which includes activity data, gamification, and even speech analysis, will make it possible to predict a wearer's mental health. The company wants to begin with treating depression and bipolar illness before expanding into other areas of mental health. Hence with the incorporation of wearable devices for detecting symptoms for bipolar disorder will help the growth of the global bipolar disorder market.

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Global Bipolar Disorder Market Key Industry Insights & Findings From the Report:

There have been significant advances in the treatment of bipolar illness during the last two decades. It has been discovered that there are three kinds: bipolar I, bipolar II, and cyclothymic. New pharmacological medicines are being researched for the treatment of bipolar disorder. Some of the new prospective medicines aim to target specific clinical problems that provide unique obstacles in the treatment of bipolar patients. New anticonvulsants, atypical antipsychotics, and calcium channel blockers are now being investigated, with the possibility of significant advancements in the pharmaceutical care of bipolar patients which will support the growth of the global bipolar disorder market during the forecast period 2023-2031.

Based on the age group, it has been studied that the average age of bipolar onset is around 25 years old, although it can vary. Bipolar symptoms might appear in childhood or later in adulthood. However, the most common age range of onset is between the ages of 14 and 21. According to the National Institute of Mental Health (NIMH), around 4.4% of individuals in the United States (18 years of age or older) may have bipolar disorder at some time in their lives. It affects men and women equally. Thus, market participants are introducing advanced medications for adults due to the rising relevance of bipolar disorder. In 2021, Caplyta (lumateperone) has been licenced by the US Food and Drug Administration (FDA) for the treatment of bipolar depression in adults.

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North America region dominated the bipolar disorder market in 2022. The market is likely to rise rapidly during the forecast period due to an increase in the number of instances of bipolar disorder and the availability of superior healthcare infrastructure. Product approvals by the US Food and Drug Administration (USFDA) in the area are projected to drive market expansion. For example, Alembic Pharmaceuticals receives US Food and medicine Administration (USFDA) clearance for bipolar depression medicine - Lurasidone Hydrochloride tablets, intended to treat bipolar depression in May 2021.

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Global Bipolar Disorder Market Segmentation
Absolute Markets Insights has segmented the global bipolar disorder market based type of bipolar disorder, treatment type, age group, sales channel and region.

Global Bipolar Disorder Market - Type of Bipolar Disorder Outlook (Revenue, USD Million, 2015 - 2031)
• Bipolar I Disorder
• Bipolar II Disorder
• Cyclothymic Disorder
• Rapid cycling bipolar
• Bipolar with mixed features
• Bipolar with seasonal pattern
• Unspecified bipolar
Global Bipolar Disorder Market - Treatment Type Outlook (Revenue, USD Million, 2015 - 2031)
• Medications
o Anti-anxiety medications
o Antipsychotic drugs
o Antidepressants
o Sleeping pills
o Mood Stabilizer
• Psychotherapy
o Interpersonal and social rhythm therapy (IPSRT)
o Cognitive behavioral therapy (CBT)
o Psychoeducation
o Family-focused therapy
• Electroconvulsive therapy (ECT)
• Transcranial Magnetic Stimulation (TMS)
• Others
Global Bipolar Disorder Market – Age Group Outlook (Revenue, USD Million, 2015 - 2031)
• Children and Adolescents
• Adults
• Geriatric
Global Bipolar Disorder Market – Sales Channel Outlook (Revenue, USD Million, 2015 - 2031)
• Hospitals and Clinics
• Retail Pharmacies
• Online Pharmacies
• Therapy Centers

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Global Bipolar Disorder Market - Regional Outlook (Revenue, USD Million, 2015 - 2031)
• North America (U.S., Canada, Mexico, Rest of North America)
• Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
• Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
• Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
• Latin America (Brazil, Argentina, Rest of Latin America)

List of Key Players in the Global Bipolar Disorder Market
• Alembic Pharmaceuticals
• AbbVie Inc.
• Astellas Pharma Inc.
• AstraZeneca
• Eli Lilly and Company
• GSK plc.
• Otsuka Pharmaceutical Co., Ltd.
• Pfizer Inc
• Validus Pharmaceuticals, Inc.
• Other market participants

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