The global bipolar disorder market is projected to exhibit a significant growth, at a CAGR of around 2.7%, during the forecast period. The major factors that are primarily driving the growth of the market include the increased levels of stress at the workplace, emerging awareness regarding stress management, and growing insurance claims for mental health. As per IHME, in 2017, there was 4.12% of the total population suffering from depression in UK. Moreover, around 4.65% share of the total population was recorded for anxiety and 1.09% of people suffered from bipolar disorder. Therefore, these significant shares of behavioral disorders in UK create substantial demand for bipolar disorder treatment that further contributes to market growth.
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In recent times, there are an increasing number of insurance claims for mental health across the globe. Claims related to depression, anxiety, and other mental conditions are on the rise. Several countries have started including mental illness into medical claims including the US, UK, and India. For instance, in 2017, the Indian government announced the Mental Healthcare Act that supports any guarantor offering health insurance plans to cater to mental illness policyholders the same way they cater to physical illnesses or accidents. In addition, it ensures that an insurer cannot discriminate an illness in being mental or physical. Therefore, it is one of the major factors that assist in the growth of the bipolar disorder market.
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According to the FAIR Health report, mental health-related claims are growing at a substantial rate where the claim was 1.8% of all medical claims in 2012 and it grew to 2.7% in 2017 which was an approximate 50% increase in claims in just 6 years. Further, claims for mental health rose among young individuals, which is a categorized age of less than 22. Additionally, young people accounted for an increasing share of the claims for MDD as per the report. The young individuals accounted for 15% of all claims bound to serious depression in 2007 and increased to 23% in 2017.
Furthermore, anxiety is one of the most common mental disorders among young people. From 2007 to 2017, among young people aged 19 to 22, generalized anxiety disorder has increased significantly during this period, as per the FAIR Health report. There was also a significant increase in mental disorders related to anxiety among teenagers and children. The report also found that from 2007 to 2017, claim lines for diagnosis of behavioral health increased by 108%. In 2017, the behavioral health disorder listed 2.7% of all lines of medical claims in the database of FAIR Health. The most common diagnosis among these claims of mental health was MDD, which in 2017 accounted for 26% of claims of mental health. There was also a significant increase in claim lines for a generalized anxiety disorder during that period, which in turn, assists in the growth of the bipolar disorder market.
Global Bipolar Disorder Market-Segmentation
- Bipolar Disorder I
- Bipolar Disorder II
- Others (Cyclothymic Disorder)
- Drugs & Medications
- Therapy & Devices/Apps
By Mechanism of Action
- Selective Serotonin Reuptake Inhibitors (SSRIs)
- Serotonin-Norepinephrine Reuptake Inhibitors (SNRIs)
- Beta Blockers
- Others (Tricyclic Antidepressants (TCAs))
Global Bipolar Disorder Market– Segment by Region
- United States
- Rest of Europe
- Rest of Asia-Pacific
Rest of the World
- Abbott Laboratories
- AbbVie Inc.
- Alkermes PLC
- Allergan PLC
- AstraZeneca PLC
- Brainsway Ltd.
- Bristol-Myers Squibb Co.
- Eli Lilly and Co.
- GlaxoSmithKline PLC
- H. Lundbeck A/S
- Inexika Inc.
- Johnson & Johnson Services, Inc.
- Lupin Ltd.
- Mood Tracker Web Media, LLC
- Neuronetics, Inc.
- Otsuka Pharmaceutical Co., Ltd.
- Proteus Digital Health, Inc.
- Sunovion Pharmaceuticals Inc.
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