Bipolar Disorder Market Size, Share, Trends, Growth Forecast To 2027

North America led the bipolar disorder market worldwide in 2021.

HYDERABAD, TELANGAANA, INDIA, August 23, 2022 /EINPresswire.com/ — As per the report published by MarketDataForecast, the global market for bipolar disorder is expected to grow at a CAGR of 2.12% from 2022 to 2027 and the market size is expected to be USD 5.56 billion by 2027 from USD 5 billion in 2022.

Manic depression, also known as bipolar disorder, is a mental health condition that results in extreme mood swings, including emotional highs (mania or hypomania) and lows (depression). A brain disorder is bipolar disorder. These mood swings can affect sleep, energy, activity, judgment, behavior, and the ability with bipolar disorder have felt overly happy and energized at one time; at other times, think clearly. It is difficult to identify symptoms of bipolar disorder in children and teens. People with bipolar disorder have felt overly happy and energized at one time, and at other times they think unfortunate, hopeless, and sluggish. There are mainly two types of bipolar disorder: Bipolar I disorder and Bipolar II disorder. Women typically develop bipolar disorder later in life, and they are more likely to have bipolar disorder II and have seasonal mood swings.

What is the impact of COVID-19 on the global bipolar disorder market?

The current COVID-19 (coronavirus disease 2019) pandemic has a negative impact on people with severe mental illnesses, particularly those with bipolar disorders. Due to the spread of the virus, governments kept a rule that everyone should stay at home during lockdown times, this increased consumption of convenience junk foods and decreased exercise as well as alcohol and tobacco smoking. Additionally, people had less access to care for conditions related to COVID-19, such as bipolar disorder, which further hampered long-term compliance with treatment. Everyone who stays at the hospital due to covid -19 has prone to this bipolar disorder. Recovery from Bipolar Disorder can be driven by the diagnosis of COVID-19 and emotional distress, and neuropsychiatric symptoms of the condition. By considering all these factors, the market has grown during this pandemic period.

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MARKET DYNAMICS:

Using smartphones, innovative technology, and smartwatches drives the market forward. Nearly 90% of persons with bipolar disorder develop symptoms that are severe enough to interfere with their relationships, careers, and educational pursuits. Additionally, even though 2.3 million Americans have been given a bipolar disorder diagnosis, many more likely go untreated. Bipolar disorder is the primary priority of eMoods. It can keep track of your highs and lows, sleep, medication use, and other bipolar illness symptoms. This helps better understand your mood cycles and identify your triggers for the doctor; you can email a report to them at the end of each month.

Increasing bipolar disorder awareness is another factor that drives the market forward. By raising awareness of the bipolar disorder, everyone can better recognize all the warning signs. This increases the chances of a correct diagnosis and effective intervention to the National Alliance on Mental Health, about nine out of 10 suicide victims have a mental disease. In 2009, almost 650,000 conversations checked in with one another, and its influence is expanding. These campaigns, also known as annual health days, are held annually during a specific period. They like to organize support for mental health and increase awareness of the most critical global issues relating to mental health.

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ANALYSIS OF VARIOUS SEGMENTS INVOLVED IN THE BIPOLAR DISORDER MARKET:

Based on type, the Bipolar I disorder segment has the highest market share. Bipolar I Disorder is a disease in which people have experienced one or more episodes of mania. Psychotic features, such as distorted thinking, and false beliefs, occur in some people who are experiencing manic episodes The majority of people with bipolar I will have both manic and depressive episodes. Manic episodes must last at least seven days or be so severe that hospitalization is required for a person to be diagnosed with bipolar I.

Based on the mechanism of action, the Serotonin Norepinephrine Reuptake Inhibitors segment holds the highest share. Serotonin and norepinephrine reuptake inhibitors (SNRIs) are medications that are used for treating depression. Other conditions, such as anxiety disorders and long-term (chronic) pain, especially nerve pain, are also treated by SNRIs. Although these medications are generally considered as a set of similar antidepressants, they typically exhibit various chemical structures as well as pharmacological properties.

Based on the drug class, the antipsychotic drug segment has the highest market share. Antipsychotics, also known as neuroleptics, are a class of psychotropic medication used to treat psychosis, including delusions, hallucinations, paranoia, or disordered thought, principally in schizophrenia but also in a range of other psychotic disorders.

GEOGRAPHICAL ANALYSIS:

North America held a significant share in the global bipolar disorder market in 2021 owing to the rising prevalence of bipolar disorder and increased awareness. Nearly half of adults in the U.S. will have a mental illness. On April 5, 2022, IGALMI was approved by the U.S. Food and Drug Administration (FDA) for the acute treatment of agitation associated with schizophrenia or bipolar I or II disorder in adults. Lurasidone Hydrochloride tablets, which are used to treat bipolar depression, were given final approval by the U.S. health agency in 2021, according to drug company Alembic Pharmaceuticals.

The Asia Pacific is anticipated to grow at the fastest CAGR among all the regions worldwide during the forecast period. In 2017, mental disorders of varying severity affected one in seven Indians. As a result, the proportion of psychological disorders in India’s disease burden has nearly doubled.

KEY MARKET PLAYERS IN THE BIPOLAR DISORDER MARKET:
• AbbVie Inc.
• Allergan PLC
• AstraZeneca Plc
• Janssen Pharmaceuticals Inc.
• Novartis AG
• Eli Lilly and Company
• GlaxoSmithKline Plc
• Otsuka Holdings Co. Ltd
• Pfizer Inc.

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BROWSE REGIONAL REPORTS:
North America Bipolar Disorder Market
Europe Bipolar Disorder Market
APAC Bipolar Disorder Market

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