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$ 7,288.3 million in 2019 and is expected to exhibit a CAGR of 5.2% over the forecast period (2019-2027), as highlighted in a new report published by Coherent Market Insights.
Governments and healthcare organizations are supporting various clinical developmental stage companies and research organizations to develop novel drugs for the treatment of bipolar disorder, which is likely to drive the market growth over the forecast period. For instance, in January 2018, European Union’s Horizon 2020 Research and Innovation program awarded grant of US$ 8.8 million to R-Link, a cohort study for lithium initiation. The R-Link study has been initiated by researchers at Centre for Affective Disorders, Department of Psychological Medicine at the Institute of Psychiatry, Psychology & Neuroscience, King’s College London.
Moreover, in June 2017, the Iowa Neuroscience Institute announced that it will grant fund of US$ 150,000 annually for five years to psychiatry research center (Department of Psychiatry in University of Iowa), in order to create a Bipolar Disorder Research Program of Excellence.
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Browse 27 Market Data Tables and 26 Figures spread through 201 Pages and in-depth TOC on “Bipolar Disorder Treatment Market”- Global Forecast to 2027, 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).
Major players operating in the bipolar disorder treatment market are collaborating and partnering to focus on various operations ranging from research and development, manufacturing, sales and distribution, and others of bipolar disorder drugs, which is expected to boost the market growth over the forecast period. For instance, in February 2016, Sound Pharmaceuticals (SPI) announced collaboration with University of Oxford, in order to develop novel treatment for bipolar disorder. Under this collaboration agreement, in November 2017, both the companies collaboratively initiated the Phase II clinical trial for SPI-1005 for the treatment of patients with bipolar disorder. SPI-1005 is an oral drug containing ebselen, which mimics and induces the activity of Glutathione Peroxidase (GPx) in the inner ear and brain. The study was completed in July 2019.
Key Takeaways of the Global Bipolar Disorder Treatment Market:
The global bipolar disorder treatment market is expected to exhibit a CAGR of 5.2% over the forecast period, owing to increasing product launches and approvals, and high prevalence of bipolar disorder. According to South African Depression & Anxiety Group published in 2017, the life time prevalence of depression in South Africa is estimated to be 9.7%, which accounted for 4.5 million patients. Moreover, according to the same source, bipolar disorder affects 1% of population in South Africa.
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Among drug class, antipsychotics segment held the largest market share in 2018, owing to increased prevalence of bipolar disorder. According to the National Alliance on Mental Illness Factsheet, September 2019, the annual prevalence of bipolar disorder in the U.S. was estimated at around 7 million.
Among distribution channel, retail pharmacies segment held the largest market share in 2018, owing to patients’ preference to buy products through retail pharmacies and increasing number of retail or independent pharmacies. According to PLOS Journal, August 2017 findings, the number of independent pharmacies in the U.S. exhibited 3.8% growth from 22,737 (2007) to 23,596 (2015).
Companies 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.
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About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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