Wade beat Richie Burnett, Mark Walsh, Michael van Gerwen and Terry Jenkins to reach his fifth World Matchplay final and his fourth against Phil Taylor. Wade trailed 10–14, but hit back to 14–15 and then missed a dart at double 10 to level the game. He went on to lose 15–18, stating after the match that winning 15 legs against Taylor whilst playing "half-mast" was a good achievement and that he had never felt so happy playing darts. However, during his first round defeat to Colin Osborne in the World Grand Prix, Wade appeared visibly unsettled and immediately flew back home to receive treatment for bipolar disorder, with which he was diagnosed in 2010. He released a statement to thank fans for their support and did not play again until the Grand Slam of Darts, where he finished third in his group following one win and two defeats. After all 33 ProTour events of 2012 had been played, Wade finished 12th on the Order of Merit to qualify for the Players Championship Finals. He lost to Brendan Dolan 4–6 in the first round.