The growing prevalence of bipolar disorder is a significant factor influencing market demand.

The global lithium therapy market is expected to reach USD 128.6 Million by 2027, according to a new report by Reports and Data. Lithium Therapy is used as an antipsychotic drug for treating bipolar disorder. Sometimes, it may be utilized in other disorders to supplement an antidepressant that is unable to treat depression effectively.

The growing prevalence of bipolar disorder is a significant factor in influencing the market growth. Bipolar disorder is a neurobiological disorder of the brain that currently impacts nearly 2.3 million people in the U.S. or about 1.0% of the total U.S. population. Suicide is the foremost reason for premature death amongst people who have bipolar disorder, with 15.0% to 17.0% committing suicide, owing to negative symptoms that arise from an untreated illness. Individuals who have bipolar disorder were over 25 times more likely to experience panic disorder and around ten times more likely to experience obsessive-compulsive disorder as compared to people in the general population with the condition.

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Substantial revenue growth of the global pharma healthcare market is driven by factors such as growing burden of chronic and acute diseases across the globe, rise in geriatric population, growing consumer awareness of health wellness, and increasing need for more advanced and patient-centered healthcare services. Some of the other major factors contributing to market revenue growth are growing demand for advanced medications and therapeutics, growing availability of advanced point-of-care diagnostics, increasing research development activities and clinical trials in the biotechnology and pharmaceutical industries, and rise in government and private investments in the healthcare sector. Rising cases of the novel coronavirus infection globally, rapid development of advanced COVID-19 diagnostics including the RT-PCR test kits, increased government investments in COVID-19 vaccine development, growing trends of telehealth and telemedicine, and increasing demand for remote patient monitoring solutions are factors further driving market revenue growth to a major extent.

Global Lithium Therapy Market Report: Regional Segmentation

• North America
  • S.
  • Canada
  • Mexico
• Europe
  • Germany
  • K.
  • Italy
  • France
  • BENELUX
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of APAC
• Latin America
  • Brazil
  • Rest of LATAM
• Middle East Africa
  • Saudi Arabia
  • A.E.
  • South Africa
  • Rest of MEA

Further key findings from the report suggest

• By dosage form, capsules contributed to the largest market share in 2018 and is likely to grow at a rate of 2.1% in the forecast period. Capsules are taken through the oral route of administration and are available in dosage including 150 mg, 300 mg, and 450 mg.
• By product type, branded product dominated the market in 2018. A branded product is produced by a renowned manufacturer and has the manufacturer's label on it, for instance, Eskalith and Lithobid, among others.
• By distribution channel, hospital clinic pharmacies contributed to the largest market share in 2018 and is likely to grow at a rate of 2.0% in the forecast period. The factors including higher purchasing power, the existence of highly skilled healthcare professionals, and improved health coverage for hospital-based healthcare services from several private and group insurance plans, among others, are responsible for the high market share of hospitals.
• The market in the Asia Pacific region is estimated to witness the fastest growth rate of 3.5% in the forecast period, due to the improving healthcare infrastructure, rising investments, and better reimbursement scenario.

Top Players in the Global Lithium Therapy Market:

Pfizer, Alkem, Sun Pharma, Apotek Corp., Glenmark Generics, Intas, Taurus Labs, GlaxoSmithKline, Noven Pharmaceuticals, and Cardinal Health, among others.

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Frequently Asked Questions Answered in the Report:

• What is the expected revenue growth rate of the global Lithium Therapy market over the forecast period?
• What are the key factors driving the global market revenue growth?
• What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis of the market?
• Which regional market is expected to lead in terms of revenue share over the forecast years?
• Which are the leading manufacturers and suppliers in the global Lithium Therapy market?

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