PERSONALIZED PSYCHIATRY MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

Personalized Psychiatry Market, By Type (Products, Services, Software), By Therapeutic Areas (Depression, Anxiety, Bipolar Disorder, Schizophrenia, Addiction, Others), By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa)

Published In : Dec 2023
Code : CMI6387
Pages :135
Formats :
Excel and PDF
Industry : Pharmaceutical

Personalized Psychiatry Market Size and Trends

The personalized psychiatry market size is expected to reach US$ 8.68 billion by 2030, from US$ 4.10 billion in 2023, at a CAGR of 11.3% during the forecast period.

Personalized Psychiatry Market Trends:

Focus on prevention and early intervention through personalized care: Shifting focus towards preventive psychiatry and early diagnosis is an emerging trend being facilitated by precision techniques. Companies are developing tools to assess individual risk profiles and enable timely interventions.

For instance, Genomind, Inc., a genetic testing service provider, offers a behavioral health genetic test to help identify risk for conditions like depression, anxiety, and ADHD before the onset of symptoms.

Growing research in biomarkers for mental health disorders: Considerable research is underway to identify and validate biomarkers that can accurately diagnose psychiatric conditions and predict treatment response. Biological markers like neuroimaging patterns, cognitive assessments, gene expression, and blood-based protein biomarkers are being investigated.