The bipolar disorder drug market is anticipated to grow at a significant CAGR during the forecast period. The market is growing due to the increased prevalence of the disease coupled with the rising initiatives by the government institution to increase awareness among the population.  According to the Institute for Health Metrics and Evaluation, the prevalence of bipolar disorder varies from 0.3 to 1.2 by country. In 2017, almost 46 million people 48% men and 52% women, across the globe were diagnosed with some type of bipolar disorder. The typical age for this disease to grow is mostly among the people aged above 20 years. Hence, the rise in the cases and the increasing need to manage the disease effectively is boosting the growth of the bipolar disorder market growth in the forecast period. However, the insufficient reach of healthcare facilities and unaffordable medication are the major restraining factor for the global bipolar disorder drugs market to grow in certain regions. High suicidal rates and accessibility to better medical therapies would be major factors contributing to the growth of the bipolar disorder drugs market in the forecast period.

Impact of COVID-19 Pandemic on Bipolar Disorder Drug Market

The outbreak of COVID-19 has impacted the market positively. According to the study released by the National Library of Medicine, in December 2020, the COVID-19 was associated with distress, anxiety, fear of contagion, depression, insomnia, and various other bipolar disorders. Furthermore, several restrictions prescribed to the COVID-19 patients includes social isolation, fear of contagion, the uncertainty of life and economics which had led to the rise in development of depression, anxiety, and other psychiatric disorder among the population. Thus, to reduce stress and anxiety among the populations, doctors prescribed bipolar disorder drugs to patients with psychiatric and bipolar disorder which have increased the demand for bipolar disorder drugs market globally during the COVID-19 pandemic.

Segmental Outlook 

The bipolar disorder drug market is segmented based on the drug type and distribution channel. Based on the drug type, the market is segmented into mood stabilizers, anti-psychotic drugs, antidepressant drugs, and anti-anxiety drugs. Amongst the drug type, the antipsychotic bipolar disorder drug market is anticipated to hold the prominent share in the global bipolar disorder drug market. Based on the distribution channel, the market is segmented into online pharmacies and offline pharmacies. Amongst these, the mood stabilizer segment is anticipated to cater significant CAGR among the global bipolar disorder market over the forecast period. A mood stabilizer is a kind of psychiatric drug that helps in controlling mood swings between mania and depression. These drugs are used to decrease brain activity and are prescribed to restore neurochemical balance. This drug is generally prescribed for long-term bipolar disorder treatment and is anticipated to hold the fastest-growing share in the global bipolar disorder market.

Bipolar disorder drug Market Share by Drug Type, 2022 (%) 

The Antipsychotic Bipolar Disorder Drug is Anticipated to Hold a Prominent Share in the Bipolar Disorder Drug Market

The antipsychotic drug is anticipated to hold the prominent share in the global bipolar disorder drug market over the forecast period. Antipsychotic drugs are used to treat a short-term bipolar disorder such as hallucinations and delusions. These symptoms may occur during acute mania or severe depression. Some antipsychotic drugs are also used to treat bipolar depression along with the long-term value in preventing future occurrence of depression. Antipsychotics are also used as off-label sedatives for bipolar disorders such as insomnia, anxiety, and agitation. Mostly, antipsychotic drugs are prescribed with a mood stabilizer and antidepressant drugs as it is found to work effectively in bipolar disorder treatment. The effective treatment of bipolar disorder patients with the antipsychotic drug is boosting the global market growth in the forecast period. 

Regional Outlooks

The bipolar disorder drug market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, and Others), and the Rest of the World (the Middle East &Africa, and Latin America).  The market can be analyzed for particular region or country level as per the requirement. The North American bipolar disorder drugs market is expected to hold prominent share in the global bipolar disorder drug market, followed by Europe. Due to the well-developed healthcare infrastructure along with a huge number of patients diagnosed with depression and anxiety across various developed nations including the US, UK, Germany, Canada, and others.

Bipolar Disorder Drug Market Growth, by Region 2021-2028 

The North America Region is Estimated to Hold the Considerable Share in the Bipolar Disorder Drug Market

North America is anticipated to hold the prominent share in the bipolar disorder drug market. North America always offers better medical care and is considered as the early adopter of new treatments. The well-equipped healthcare infrastructure in this region as well as the high prevalence of bipolar disorder patients in this region which is boosting the market growth. According to National Alliance on Mental Illness, approximately 1 in every 5 adults in the US are experiencing mental illness every year. Additionally, rapidly rising government initiatives in collaboration with Non-Profit Government Organizations (NGOs) catering to aware people about suicides and bipolar disorder are further bolstering the regional growth of the bipolar disorder drug market across the North America.

Market Players Outlook

The major companies serving the bipolar disorder drug market include Allergan, AstraZeneca, Eli Lilly and Co., GlaxoSmithKline, Pfizer Inc., and many more. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches for the advancement of the product, to stay competitive in the market. For instance, in December 2021, Dr. Reddy Laboratories launched Venafaxine ER Tablets in the US market. The tablets are also approved by the USFDA, as it is therapeutically equivalent to Venlafaxine Extended-Release Tablets of 150 mg and 225 mg of Osmotica Pharmaceuticals US LLC.

The Report Covers

• Market value data analysis of 2021 and forecast to 2028.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global bipolar disorder drug market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.