Rising Awareness to Bolster Demand for Bipolar Disorders and Treatment Market
Posted by shriya on June 2nd, 2021
The report by Market Research Future (MRFR) predicts that the global bipolar disorders and treatment market is on its way to achieve a whopping amount of revenue at a healthy CAGR during the forecast period (2016-2022).
Market Drivers and Barriers
Growing prevalence of bipolar disorder, government support for augment awareness regarding bipolar disorder, and technological advancements facilitating accurate detection of a patient’s mood as well as mental state are few factors elevating the market position on a global level. Case in point is the usage of tricyclic antidepressants which has declined over the years due to the higher incidence of side effects compared to other drugs used for the treatment of bipolar disorder.
But many drugs used for treating bipolar disorder have been associated with various side effects including addiction of the body to the drug. This factor could hinder the market growth to some extent in the coming years. However, advancement in technology is aiding the market growth, with the increasing use of smartphones, wearable devices and smartwatches, facilitating accurate detection of a patient’s mood and mental state. These devices also capture the behavioral, physiological, and environmental data accurately and effectively.
The market for bipolar disorders and treatment is segmented into drug type and treatment.
The market, based on the drug type, is segmented into anti-anxiety drugs, antidepressant drugs, atypical antipsychotics, mood stabilizers, and anticonvulsants. The atypical antipsychotic drug segment is leading the global market, as it is used with SSRI as part of a combination therapy and demonstrates excellent results. Therefore, a greater number of physicians are opting for these medications.
Treatment-wise, the market is segmented into electroconvulsive therapy (ECT), transcranial magnetic stimulation (TMS), and others.
The geographical distribution of the global bipolar disorders and treatment market has been done for the regions of Asia Pacific, Europe, North America and the Rest of the World.
The contenders at the forefront of the bipolar disorders and treatment market are Allergan, Eli Lilly & company, GSK, BMS, Janssen Pharmaceuticals, AstraZeneca, among others.
Browse Detailed TOC with COVID-19 Impact Analysis at: https://www.marketresearchfuture.com/reports/bipolar-disorders-treatment-market-1566
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About the Authorshriya
Joined: May 18th, 2021
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