According to Future Market Insights, the Psychosis Diagnostics Market demand is predicted to develop at a CAGR of 5.3% from 2023 to 2033. By 2033, the global market for Psychosis diagnostics is predicted to reach a value of US$ 3.6 billion. The market’s expansion can be attributable to rising awareness of mental health issues, advances in diagnostic technologies, and rising desire for personalised and precision treatment.
The growing awareness of mental health issues, particularly psychosis, is one of the market’s primary drivers. The influence of mental health on overall health is becoming more widely recognised, with governments and healthcare providers taking steps to address the issue. This has resulted in a higher public understanding of mental health issues, including psychosis, as well as a greater willingness to seek diagnosis and treatment.
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Diagnostic technology advancements have also played an important role in driving market expansion. Significant advances in mental health diagnostics have occurred, with novel imaging techniques and biomarker-based testing making it easier to diagnose psychosis and related diseases. Not only are these new technologies more accurate, but they are also faster and less intrusive, making them more accessible to patients. Overall, the psychosis diagnostics market is expected to increase significantly in the next years, owing to a number of variables.
Key Takeaways from the Market Study
- From 2023 to 2033, the global psychosis diagnostics market is estimated to rise at a 5.3% CAGR.
- In the Psychosis diagnostics market, hospital pharmacies are estimated to occupy 44% of the market share in 2023.
- In 2023, North America is estimated to hold 38% of the market for Psychosis diagnostics.
- In 2023, Europe’s psychosis diagnostics market is estimated to account for 43% of the total.
“The growing demand for personalized and precision medicine is also driving the growth of the psychosis diagnostics market.” states an FMI analyst
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Competitive Landscape
Key players in the psychosis diagnostics market are Merck KGaA, Thermo Fisher Scientific, Hoffmann-La Roche Ltd., Eli Lilly & Company, 3M Company, Teva Pharmaceutical Industries Ltd., GlaxoSmithKline plc, Pfizer, Inc., Sun Pharmaceutical Industries Ltd and Bausch Health
- Merck KGaA has developed several medications for the treatment of psychotic disorders, including aripiprazole, which is an atypical antipsychotic medication used to treat schizophrenia and bipolar disorder. Aripiprazole works by modulating dopamine and serotonin receptors in the brain, which can help to alleviate the symptoms of psychotic disorders.
- Thermo Fisher Scientific offers a range of products and services for biomarker discovery, which is the process of identifying molecular markers that can indicate the presence or severity of a particular disease. In the field of psychosis diagnostics, biomarkers can be used to aid in the diagnosis of conditions such as schizophrenia and bipolar disorder. Thermo Fisher Scientific offers a range of products and services for biomarker discovery, including mass spectrometry-based proteomics and immunoassay technologies.
More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the global Psychosis diagnostics market, presenting historical analysis from 2018 to 2022 and forecast statistics for the period of 2023 to 2033.
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Key Segments Profiled in the Psychosis Diagnostics Industry Survey
Drug Class:
- Chlorpromazine
- Fluphenazine
- Haloperidol
- Loxapine
- Perphenazine
- Thioridazine
Treatment:
- Rapid tranquilization
- Medication
- Cognitive behavioural therapy
Distribution Channel:
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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