The
global precision psychiatry market is anticipated to observe impressive growth
during the forecast period, 2023-2027. The major factors include rise in
incidences of mental health and technological advancements, which are
bolstering the market growth, globally. Precision psychiatry is new field within precision medicine,
which seeks to detect and capitalize on individual differences in biology, environment,
lifestyle, and social determinants of health to improve mental health
prevention, diagnosis, and treatment. The other factors supporting the market's growth are increasing awareness, growing investments, increase
in population, changing lifestyle, decreasing cost of sequencing, increasing
adoption of inorganic growth strategies and support from governments for healthcare infrastructure.
Also, the high adoption of advanced molecular diagnostic technologies by the
researchers to conduct genomic and proteomic analysis associated to the onset
and manifestation of psychiatric illnesses are some of the key factors that are
projected to bolster the market growth.
Increase
in Prevalence of Mental Disorders
Over
the past few years, rise in number of people suffering from mild or severe
depressive disorders is seen. These mental illness or disorders are basically
caused due to chemical, genetic, and anatomical conditions, or psychological
origins such as trauma. Thus, to seek better lives for those suffering from
mental illness, precision psychiatry is much required, which attributes to the
growth of the market, globally. For instance, according to the National
Institute of Mental Health, around one in every five U.S. adults suffer from
mental illness. Also, in 2020, 25.8% of females were suffering from mental
illness.
Increasing
Adoption of Inorganic Growth Strategies
Increasing
inorganic growth strategies by key players are expected to drive the global
precision psychiatry market growth during the forecast period. For instance,
in 2021, Alto Neuroscience announced its emergence from stealth with $40
million in funding to advance the largest clinical-stage pipeline of precision
psychiatry medicines. Similarly, in 2021, Atai Life Sciences, a biotech company
in the psychedelics space, announced the formation of a new subsidiary, called
PsyProtix, which is a precision psychiatry company.
Increased
demand for Genomics as precision psychiatry
From
past few years, genomic technologies have advanced the understanding of
neuropsychiatric disorders. Genomics plays a significant part in the diagnosis
of several genetic disorders. It has ample scope in precision psychiatry as it
can advocate medical management constructed on the genetic face of a person
with the help of clinical data and AI. It incorporates DNA sequencing methods,
recombinant DNA, and bioinformatics for sequencing, assembling, and analyzing
the structure and functions of genomes. Many severe mental illnesses, such as
schizophrenia and bipolar disorder, are highly inherited, and have a complex
pattern of inheritance. These diseases can be identified by using sequencing
technology, which evaluates the rare genetic variants. With the use of
sequencing technology, psychiatry can ultimately reshape by predicting disease
risk and lead to better understanding of aetiology, prognosis, or treatment
response. Moreover, the decrease in cost of sequencing is also a key factor to
increase the growth of the market.
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Market Segmentation
The global precision
psychiatry market is segmented into biomarkers, sample, technology, application,
end user, and company. Based on biomarker, the market is divided into genetic
and protein. Based on sample,
the market is divided into
blood-based and non-blood-based. Based on non-blood-based,
the market is further divided into saliva, urine, cerebral spinal fluid, and others.
Based on technology, the market is divided into sequencing, polymerase chain
reaction, microarray, immunoassay, and others. Based on application, the market
is divided into Alzheimer’s disease, Parkinson’s disease, autism, depression,
and others. Based on end user, the market is divided into hospital &
clinics, academic & research institutions, and others. In terms of
country, the United States is expected to be a lucrative market in the forecast
period due to rise in incidences of mental illness in the country.
Market Players
Altimate Healthcare, PsyProtix,
Inc, Cerebral-Alto Nanoscience, Precision Psychiatric Services, Inc, Tempus
Labs, Inc., and Curis AI Inc. are
some of the leading companies operating in the market.
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Attribute
|
Details
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Base Year
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2021
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Historic Data
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2017 – 2020
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Estimated Year
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2022
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Forecast Period
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2023 – 2027
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Quantitative Units
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Revenue in USD Million, Volume Units and
CAGR for 2017-2021 and 2022-2027
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Report coverage
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Revenue forecast, Volume forecast company share, competitive
landscape, growth factors, and trends
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Segments covered
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·
Biomarker
·
Sample
·
Technology
·
Application
·
End User
·
Company
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Regional scope
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North America; Asia Pacific; Europe & CIS; South America;
Middle East & Africa
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Country scope
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United States; Canada; Mexico; China;
India; Japan; South Korea; Germany; France; United Kingdom; Spain; Italy; Brazil;
Argentina; Colombia; South Africa; UAE; Saudi Arabia; South Africa
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Key companies profiled
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Altimate Healthcare, PsyProtix, Inc, Cerebral-Alto
Nanoscience, Precision Psychiatric Services, Inc, Tempus Labs, Inc., and
Curis AI Inc.
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Customization scope
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10% free report customization with
purchase. Addition or alteration to country, regional & segment scope.
|
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Pricing and purchase options
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Avail customized purchase options to meet your exact research
needs. Explore purchase options
|
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Delivery Format
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PDF and Excel through Email (We can also provide the editable
version of the report in PPT/Word format on special request)
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Report Scope:
In this report, global precision
psychiatry market has been segmented into following categories, in addition to
the industry trends which have also been detailed below:
·
Precision Psychiatry Market, By Biomarker:
o
Genetic
o
Protein
·
Precision Psychiatry Market, By Sample:
o
Blood
Based
o
Non-Blood-Based
§ Saliva
§ Urine
§ Cerebral Spinal Fluid
§ Others
·
Precision Psychiatry Market, By Technology:
o Sequencing
o Polymerase Chain
Reaction
o Microarray
o Immunoassay
o Others
·
Precision Psychiatry Market, By Application:
o
Alzheimer’s
Disease
o
Parkinson’s
Disease
o
Autism
o
Depression
o
Others
·
Precision Psychiatry Market, By End User:
o Hospital & Clinics
o Academic & Research
Institutions
o Others
·
Precision Psychiatry Market, By Region:
- North America
- United States
- Canada
- Mexico
- Asia-Pacific
- China
- India
- Japan
- Australia
- South Korea
- Europe & CIS
- Germany
- France
- United Kingdom
- Spain
- Italy
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
§
South
Africa
§
Saudi
Arabia
§
UAE
Competitive Landscape
Company Profiles: Detailed analysis of the
major companies present in precision psychiatry market
Available Customizations:
With the given market data, TechSci
Research offers customizations according to a company’s specific needs. The
following customization options are available for the report:
Company Information