The Lithium Therapy Market is anticipated to experience a 2.3% growth in value, reaching USD 128.6 Million by 2027 from 2019. Lithium Therapy, employed as an antipsychotic for bipolar disorder treatment, may also be used in conjunction with antidepressants for certain conditions.
The rise in the elderly population is expected to drive market demand, with projections from the World Health Organization indicating a substantial increase in individuals aged 65 and above, particularly in developing economies. The aging population is prone to spinal disorders due to facet joint deterioration, contributing to the market's growth.
Bipolar disorder prevalence in geriatric patients underscores the correlation between the global aging population and individuals with this condition. The Asia Pacific region is poised to witness the fastest market growth, attributed to enhanced healthcare infrastructure, increased investments, and improved reimbursement scenarios.
The report encompasses comprehensive statistics on lithium therapy from 2016 to 2027, with a focus on market size, dosage forms, distribution channels, and regulatory frameworks. The study also includes an analysis of competitors' pricing strategies, ongoing clinical trials, and market trends, providing strategic recommendations for new entrants.
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Salient Trends in the Lithium Therapy Market:
Approximately 3.0% of globally produced lithium is utilized in the healthcare sector.
Lithium enhances the efficacy of various agents in severe and long-term bipolar disorder therapy.
Patients undergoing lithium therapy need regular monitoring of lithium-ion levels to prevent toxic effects.
In 2016, lithium was the 222nd most prescribed therapy in the U.S.
Lithium salts exhibit potential effectiveness in treating Alzheimer's disease.
The market, valued at USD 103.9 Million in 2018, is expected to reach USD 128.6 Million by 2027. Generic products are anticipated to grow rapidly, with online-retail pharmacies projected to witness the fastest growth. North America dominates the market, while Europe is expected to observe a growth rate of 2.1% from 2018-2019.
Key Player Covered In This Report:
Pfizer,
Alkem,
Sun Pharma,
Apotek Corp.,
Glenmark Generics,
Intas,
Taurus Labs,
GlaxoSmithKline,
Noven Pharmaceuticals,
Cardinal Health,
among others.
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Segments Covered in the Report:
Product Type: Generic, Branded
Dosage Form: Capsule, Solution, Tablet, Extended Release, Tablet
Distribution Channel: Hospital & Clinic Pharmacies, Online-Retail Pharmacies, Offline-Retail Pharmacies
Region: North America, Europe, Asia Pacific, Latin America, MEA
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Key Questions Answered by the Report:
Total market size of the lithium therapy treatment market in 2018?
Forecast period in the market report?
Base year calculated in the lithium therapy treatment market?
Estimated growth rate of the Asia Pacific region?
Region holding the largest market share of the lithium therapy treatment market?
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