Bipolar Disorder Drugs and Treatment Market Analysis

Bipolar Disorder Drugs and Treatment Market Analysis

Numerous medications used to treat bipolar disorder have adverse effects that can include drug addiction, blood sugar and cholesterol problems, thyroid, liver damage, and blurred vision, among others. Studies have revealed that the medication cause few of the serious adverse effects such as teratogenic effects and kidney failure on the developing foetus when used by pregnant women. Additionally, the market dynamics may be significantly impacted by the patent expiry of popular pharmaceuticals in this sector. For instance, patent expiry for Invega, Seroquel, Risperdal, and Zyprexa could slow market growth due to availability of generic drug substitutes in the market.

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Based on drug class, the bipolar disorder drugs and treatment market is segmented as mood stabilizer, anticonvulsants, anti-psychotic drugs, anti-depressant drugs, and anti-anxiety drugs. The anti-psychotic drugs segment held a majority market value of USD 2.1 billion in 2022. Antipsychotic drugs are used as short-term treatment to control psychotic symptoms such as delusions, hallucinations, and mania in bipolar disorder. These symptoms can occur in acute mania or severe depression. Acute manic psychosis is increasingly treated with antipsychotics such as Cariprazine, Aripiprazole, Olanzapine, and Lurasidone. Thus, increasing cases of psychotic symptoms will supplement the segmental growth. Furthermore, increasing focus on combination therapy to treat bipolar disorder will boost the market growth. Antipsychotic drugs are often used in combination with mood stabilizers and other medications which is likely to contribute to growth in the market.

Based on route of administration, the market is segmented as oral, parenteral, and other route of administrations. The oral segment held a dominant market share of 59.2% in 2022 and is expected to grow at a significant pace during the analysis period. Oral medications are easy to take and do not require any special equipment or training. Thus, the oral route of administration is one of the most common and preferred method for delivering bipolar disorder medications. Furthermore, the availability of broad range of oral medications for the bipolar treatment is likely to contribute to the growth of the bipolar disorder drugs and treatment market. Moreover, flexibility in dosing and cost effectiveness of oral bipolar disorder drugs are expected to drive the market growth in the forthcoming year.

Based on mechanism of action, the market is segmented as selective serotonin reuptake inhibitor, serotonin norepinephrine reuptake inhibitor, tricyclic antidepressant drug, beta blockers, and other mechanism of actions. The selective serotonin reuptake inhibitor segment held a dominant market share in 2022 and is expected to grow at a considerable pace of 3.4% between 2023 to 2032. Advancements in drug development is contributing to bipolar disorder drugs and treatment market expansion. The development of new medications and therapy with fewer side effects is making treatment more tolerable for patients. Additionally new drugs are being developed that target different aspects of bipolar disorder, providing healthcare providers with a wider range of treatment options. This advancement in drug development is expected to continue to drive the market statistics in the coming year.

U.S. bipolar disorder drugs and treatment market dominated the North America region with majority business share and a revenue of USD 1.9 billion in 2022. This majority market share is attributable to the increasing prevalence of bipolar disorders. This can be attributed to the insufficient sleep, trend of substance abuse, and high-stress levels amongst the population. Also, government initiatives aimed at raising awareness and support for patients suffering from mental disorder are expected to boost the market growth in the region. For instance, the Department of Health and Human Services (HHS), through the Substance Abuse and Mental Health Services Administration (SAMHSA), and the Office of Minority Health (OMH) funded nearly $35 million to strengthen and expand community behavioral & mental health services including software for America’s children and young adults in 2022. Such initiative is anticipated to accelerate the market growth in the forecast period. Moreover, the presence of advanced healthcare infrastructure coupled with increasing healthcare expenditure will supplement the market growth.