Published Date : Jun 14, 2016
ALBANY, NY, June 14, 2016 - MarketResearchReports.biz has announced the addition of a new report, titled ‘PharmaPoint: Bipolar Disorder - Global Drug Forecast And Market Analysis To 2024,’ to its online repository. As per the report, the global bipolar disorder market is expected to expand rapidly during the period from 2014 to 2024 owing to the rising use of newly introduced antipsychotic products.
Frequent attacks of depression and mania typically indicate that one is suffering from bipolar disorder. Today, bipolar disorder has become one of the most complicated disorders to control and manage. This is because attacks of depression and mania are difficult to manage due to their frequency, pattern, and severity. These episodes also vary from individual to individual. During such attacks, people suffer from lack of sleep; during episodes of depression, people may carry a negative outlook toward life. Mental health issues such as anxiety are clear indications of bipolar disorder. Managing people diagnosed with bipolar disorder is a difficult and challenging task as many variables can directly impact the treatment outcome.
Adults aged 25 years and above are most prone to bipolar diseases. Approximately 3% of people in the United States are diagnosed with bipolar disorder at some stage in their life. In other countries, the rate is as low as 1%. This makes the Americas the largest contributor to the global bipolar market. Otsuka, AstraZeneca, Eli Lilly, Allergan, Dainippon Sumitomo, Janssen, Lundbeck, and Meiji Seika are some of the leading companies operating in the global bipolar disorder market.
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The global bipolar disorder market is widely spread with leading organizations being active in different geographical locations. Companies manufacturing medicines for bipolar disorder are aiming to capture untapped markets to spread their reach and maintain dominance in the years to come. In 2014, Otsuka’s Abilify was the dominant bipolar disorder product. Another antipsychotic product, which was in demand in 2014, is Mitsubishi Tanabes Vraylar from Allergan and Gedeon Richter Plc. Collectively in 2014, these products accounted for 34.9% of the global bipolar disorder market and are expected to maintain their dominance until 2024.
The constant introduction of new treatments and medication to treat bipolar disorder is predicted to propel the global market in the near future. As antipsychotic products offer clinical advantages, their demand is expected to grow at a considerable rate in the coming few years. However, the demand for antipsychotic products is expected to be hampered by the rising use of established generic products. Fierce competition from generic products is expected to motivate leading players to introduce new varieties of treatments and products. Thanks to the increasing government funding, leading companies are able to improve their research and development activities for the discovery of new drugs.
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