Bipolar Disorder Market to Surpass Valuation of $6.1 Billion | Lithium Drug is Dominating bipolar Disorder Market | SkyQuest Technology
Global Bipolar Disorder Market was valued at USD 5.3 Billion in 2021, and it is expected to reach a value of USD 6.1 Billion by 2028, at a CAGR of more than 2.12% over the forecast period (2022–2028).
Westford, USA, Sept. 22, 2022 (GLOBE NEWSWIRE) — In the past few years, there has been a growing demand for treatment options for Bipolar Disorder Market. Over 41 million are suffering from bipolar disorder across the globe, as per latest report by WHO. This is due in part to the increasing public awareness of this disorder, as well as the mounting evidence that treatments such as cognitive behavioral therapy (CBT) and medication can be very effective.
According to the National Alliance on Mental Illness, bipolar disorder is one of the most common mental disorders in the United States. In fact, as of 2021, an estimated 1.2 million Americans were living with bipolar disorder. SkyQuest’s study suggest that around 4.4% of the adult Americans suffer from bipolar disorder.
One reason for the growing demand for drugs in global bipolar disorder market is that the condition can be very debilitating. Symptoms can include extreme mood swings, racing thoughts, and difficulty concentrating. In some cases, people with bipolar disorder also experience episodes of mania or hypomania. Fortunately, there are a variety of treatments available for people with bipolar disorder. These treatments can include medications, counseling, therapy, and lifestyle changes.
SkyQuest has published a new report on the bipolar disorder market. The report provides an in-depth analysis of the key drivers and trends shaping the market.
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Lithium is Holding Dominant Position in Global Polar Disorder Market
To help people living with bipolar disorder manage their symptoms and prevent these complications, there is a growing demand for bipolar disorder drugs. Drugs available to treat bipolar disorder include mood stabilizers (like lithium), antipsychotics (like olanzapine), and antidepressants (like selective serotonin reuptake inhibitors or SSRIs). While each drug in the bipolar disorder market has its own set of benefits and drawbacks, they all share one common goal: to help the person living with bipolar disorder live a relatively stable and healthy life.
The number of people seeking treatment for bipolar disorder is on the rise. This has led to an increased demand for psychiatric medications that treat the condition. One such drug is lithium (Eskalith and Lithobid). Lithium is the most prominent drugs used in the control of bipolar disorder symptoms across the globe. It works by restoring balance in the brain’s chemistry.
Another pharmaceutical drug in the global bipolar disorder market to treating bipolar disorder is risperidone. Risperidone is a medication that can be used to control rage and irritability in individuals with bipolar disorder. It can also help reduce psychotic symptoms, such as delusions and hallucinations. Side effects of risperidone may include weight gain, tiredness, jaw pain, and headaches. Both lithium and risperidone are considered safe when taken as prescribed by a doctor. However, people who are taking either drug should speak with their doctor about any potential interactions they may have with other medications they are taking.
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Over 275 Clinical Trials are Active in Bipolar Disorder Market
As the psychiatric community continues to search for new and improved treatments for bipolar disorder, drug developers are working hard to develop medication options that will help people with this mental illness. According to a recent study published by SkyQuest, drug developers in the global bipolar disorder market intensified their R&D activities for developing medications to treat bipolar disorder between 2015 and 2022. The study found that during this time period, the number of clinical trials sponsored by pharmaceutical companies increased by 57%. Out study suggest that most of the trials are under phase 2 and phase 4.
This indicates that companies in the bipolar disorder market are committed to finding better treatments for bipolar disorder and are spending more money on research. Increases in funding may be one reason why we’re seeing more progress in the development of medications for bipolar disorder. Another contributing factor may be the increasing number of people who have this condition.
In 2007, there were only about 12 million people living with bipolar disorder worldwide, but that number has increased to around 41 million in 2021. This suggests that companies in the bipolar disorder market are paying more attention to this problem and are trying to find better treatments. So far, most efforts to develop medications for bipolar disorder have been unsuccessful. However, there is still hope that newer drugs will be developed in the future.
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CDB is Gaining Momentum for Treating Bipolar Disorder
Currently, there is a growing demand for CBD for treating bipolar disorder. CBD has been shown to be an effective treatment for this mental health condition. There are many reasons why this is the bipolar disorder market is witnessing increased growth, but one of the most important is that CBD does not interact with medications that are used to treat bipolar disorder.
CBD, or cannabidiol, is one of the many cannabinoids found in cannabis. CBD has been shown to be effective in treating a number of different conditions, including bipolar disorder. CBD has been shown to be effective in treating symptoms of bipolar disorder such as mania, anxiety, and depression. CBD also has promising potential for treating other conditions such as chronic pain, PTSD, and more.
CBD in the bipolar disorder market has been shown to have a multitude of benefits, including reducing anxiety and inflammation, calming the mind and reducing manic symptoms. In addition, it is non-addicting, meaning that people don’t get the psychoactive effects of marijuana when using CBD.
Therefore, it is likely that CBD will continue to be used increasingly as a treatment option for bipolar disorder. In addition, CBD may also prove to be helpful in other mental health conditions, such as schizophrenia and major depressive disorder.
SkyQuest’s report provides an overview of the current landscape of bipolar disorder market and offers insights into the potential opportunity for new therapies. The company believes that its analysis will help decision makers better understand the market and make informed decisions about developing new treatments.
Key Players in Bipolar Disorder Market
- Allergan (Ireland)
- AstraZeneca (UK)
- Eli Lilly and Company (US)
- GlaxoSmithKline (UK)
- Abbott (US)
- Bristol-Myers Squibb (US)
- Johnson & Johnson (US)
- Pfizer Inc. (US)
- Cephalon Inc. (US)
- Otsuka America Pharmaceutical Inc. (US)
- Gedeon Richter plc (Hungary)
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