Pune India, Jan. 14, 2023 (GLOBE NEWSWIRE) — The market has been studied for the below mentioned segmentation and regional analysis for North America, Europe, Asia, South America, Middle East and Africa. These are the main areas where Bipolar disorder market It works and is expected to expand soon. Manufacturers and suppliers involved Bipolar disorder market They are present in various countries in the above regions.
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The report gives a detailed understanding of the market segments formed by combining different possibilities such as drug class, mechanism of action, and regions. Apart from this, the key drivers, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
important players operating in the world Bipolar disorder market Otsuka Holdings Co., Ltd. Ltd and Allergan Plc. Janssen Pharmaceuticals, Novartis AG, AbbVie Inc. and Eli Lilly, Glaxo SmithKline (GSK), and Pfizer Inc. and AstraZeneca among others. To achieve a significant market share in the worldwide bipolar disorder market and enhance its position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, partnerships and joint ventures.
A mental illness called bipolar disorder, or manic depression, causes high and low moods, as well as changes in sleep, energy, behavior, and thinking. In addition to medical advances or research, new causes and symptoms of bipolar disorder have been discovered, expanding the scope of medicine to diagnose all aspects of the condition. This, in turn, has boosted the global bipolar disorder treatment market. Medications for bipolar disorder can cause nausea, headaches, muscle fatigue, tremors, hair loss, decreased libido, and decreased appetite, and some of these medications can damage the kidneys or liver, which is a major limiting factor. Factors hindering market growth. There is also a possibility that the patent expiry date of the blockbuster drugs in this market will have an impact on the market dynamics. Medications in the bipolar disorder market are facing stiff competition due to the emergence of generic treatments. Furthermore, in order to better understand and treat bipolar disorder, governments around the world are working to increase funding for bipolar disorder research. Increased funding has led to many scientific discoveries that pave the way for the development of better medications and treatments for people with bipolar disorder.
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Scope of the Bipolar Disorder Market Report:
|The study period||2022-2030|
|market share unit||billion US dollars|
|Covered slices||Drug class, mechanism of action, and areas.|
|covered areas||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|The main players||Otsuka Holdings Co., Ltd. Ltd and Allergan Plc. Janssen Pharmaceuticals, Novartis AG, AbbVie Inc. and Eli Lilly, Glaxo SmithKline (GSK), and Pfizer Inc. And AstraZeneca, among others.|
Anticonvulsants are expected to be the fastest growing segment in 2022.
The class of medications are anticonvulsants, mood stabilizers, antidepressant medications, antipsychotic medications, and others. The anticonvulsants segment is expected to witness the highest growth rate during the forecast period. By relieving depressive symptoms associated with bipolar disorder without triggering mania, anticonvulsants serve as effective depressive mood stabilizers. Because they stabilize mood without triggering mania or speeding up seizures, these medications overcome limitations faced by conventional antidepressants.
SNRIs are expected to be the fastest growing segment in 2022.
The mechanism of action of the part is serotonin-norepinephrine reuptake inhibitors, selective serotonin reuptake inhibitors, beta-blockers, tricyclic antidepressant medication, and others. The serotonin and norepinephrine reuptake inhibitors segment is expected to witness the highest growth rate during the forecast period. The serotonin and norepinephrine reuptake inhibitors segment is expected to retain the largest share during the forecast period. As a result of controlling some manic symptoms such as insomnia, agitation, and insomnia until mood-stabilizing drugs are activated to accelerate the demand for this segment during the forecast period.
Regional analysis provides a detailed visualization of major regions and countries. Some of the key countries analyzed for the Bipolar Disorder market include United States, Canada, Mexico, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia. .
North America saw a significant share. There is a significant market share for bipolar disorder in North America and similar trends are expected to show without significant fluctuations during the forecast period. Cases of bipolar disorder are increasing, and healthcare infrastructure is improving, so the market is expected to grow rapidly over the next few years. The market growth in this region is also expected to be driven by high levels of stress, insufficient sleep, and increased drug use among the population, as well as ongoing initiatives aimed at raising awareness and support for patients with bipolar disorder.
Germany bipolar disorder market size was US$ 0.45 billion in 2022 and is expected to reach US$ 0.55 billion by 2030, at a CAGR of 2.7% from 2023 to 2030.
Various factors, including high levels of stress, inadequate sleep, and a tendency to addiction, will drive the growth of the German market. Moreover, increasing awareness about bipolar disorder management in the country is boosting the growth of the market.
The Bipolar Disorder market size in China was estimated at US$0.77 billion in 2022 and is expected to reach US$1.02 billion by 2030, at a CAGR of 3.7% from 2023 to 2030.
Bipolar illness is on the rise in the country, and government assistance to raise awareness and advances in technology have enabled accurate detection of mental health conditions.
The Bipolar Disorder market size in India was estimated at US$ 0.67 Billion in 2022 and is expected to reach US$ 0.86 Billion by 2030, growing at a CAGR of 3.2% from 2023 to 2030.
Increasing technological developments such as smart watches, smartphones and other wearable technologies allow for more accurate identification of mood and mental state, as well as the collection of physiological, behavioral and environmental data, which supports the growth of the market in the country.
The impact of Covid-19
Covid-19 has had a significant impact on almost all industries, such as electronics, semiconductors, manufacturing, automobiles, etc. However, many companies operating in the technology sector have seen an increase in revenues due to significant changes in consumer preferences towards technology services. In addition, the pandemic has led to a significant growth in technology across developing and developed countries.
Moreover, the growth of this market is mainly due to the increase due to the rise in cases of bipolar disorders and government initiatives to spread awareness about the management of bipolar disorders, driving the growth of the market across the countries.
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