Technological Advancements That Facilitate Accurate Detection Of A Patient’s Mood & Mental State Is Expected To Drive Bipolar Disorder Market Till 2025: Grand View Research, Inc.
The
global bipolar disorder market is anticipated to reach
USD 4.9 billion by 2025, growing at a CAGR of 2.10%, according to a new report
by Grand View Research, Inc. Government support for generating awareness about
the bipolar disorder and technological advancements that facilitate accurate
detection of a patient’s mood and mental state are a few of the factors driving
the growth of this market.
The
rising prevalence of bipolar disorders is likely to propel market growth in the
forecast period. Government initiatives also drive the market growth. For
instance, International Bipolar Foundation’s Social Security Disability
Insurance (SSDI) or Supplemental Security Income (SSI) are programs offered by
the Social Security Administration (U.S.) for the benefit of the people
affected by bipolar disorder.
Besides,
technological advancements in smartphones, smartwatches, and wearable devices
improve diagnosis rates by capturing physiological, behavioral, and
environmental data effectively to detect the patient’s mood and mental state.
Online self-management tools also result in timely intervention, thereby improving
diagnosis rates and treatment rates for the disorder.
However, the patent
expiry of blockbuster drugs in this market is likely to impact market dynamics
in the forecast period. Additionally, the drugs in the bipolar disorder market
are bound to face intense competition from generic drugs, as treatment options
for bipolar disorder. Other factors likely to restrain market growth in the
forecast period include side effects associated with bipolar drugs, and
misdiagnosis of bipolar disorder.
U.S.
bipolar disorder market, by drug class, 2014 - 2025 (USD Billion)
Browse full
research report on Bipolar Disorder Market: https://www.grandviewresearch.com/industry-analysis/bipolar-disorder-market
Further key
findings from the report suggest:
- The antipsychotic segment is expected to
dominate the market owing to increasing prevalence of psychosis, and
physical illness resulting in depression.
- The serotonin norepinephrine reuptake inhibitor
segment is anticipated to dominate the market in the forecast period. The
growth of this segment is due to these drugs being primarily used to treat
major depression and bipolar disorder, and having better safety profile
and tolerability.
- North America is expected to dominate global
bipolar disorder market. This can be attributed to the high stress levels,
insufficient sleep, and trend of substance abuse amongst the population.
- Some of the major players in this space include
GlaxoSmithKline (GSK), Pfizer Inc., Janssen Pharmaceuticals, Eli Lilly,
Allergan Plc., Novartis AG, AbbVie Inc., Otsuka Holdings Co. Ltd, and
AstraZeneca.
Browse more
reports of this category by Grand View Research: https://www.grandviewresearch.com/industry/pharmaceuticals
Grand View Research has segmented the global bipolar disorder market on
the basis of drug class, mechanism of action, and region:
Drug Class
Outlook (Revenue, USD Million, 2014 - 2025)
- Mood
stabilizer
- Anticonvulsant
- Antipsychotic
drugs
- Antidepressant
drugs
- Antianxiety
drugs
Mechanism
of Action Outlook (Revenue, USD Million, 2014 - 2025)
- Selective
serotonin reuptake inhibitor
- Serotonin
norepinephrine reuptake inhibitor
- Tricyclic
antidepressants
- Monoamine
oxidase inhibitors
- Benzodiazepines
- Beta
blockers
- Others
Regional
Outlook (Revenue, USD Million, 2014 - 2025)
- North
America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Asia
Pacific
- Japan
- China
- Latin
America
- Brazil
- Mexico
- Middle
East and Africa (MEA)
- South
Africa
Access
Press Release By Grand View Research: https://www.grandviewresearch.com/press-release/global-bipolar-disorder-market
About Grand
View Research:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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