Future Market Insights (FMI), a leading market intelligence firm, has released a comprehensive report forecasting significant growth in the Global Psychosis Diagnostics Industry. The demand for psychosis diagnostics is projected to soar at a Compound Annual Growth Rate (CAGR) of 5.3% from 2023 to 2033, reaching an impressive US$ 3.6 billion by the end of the forecast period.
The driving forces behind this remarkable expansion are multifaceted. Increased awareness of mental health disorders, advancements in diagnostic technology, and a growing inclination toward personalized and precise treatment options are pivotal factors contributing to the market’s upward trajectory.
One of the key catalysts for this surge is the continuous evolution of diagnostic technology. Notable breakthroughs in mental health diagnostics have emerged, introducing innovative imaging techniques and biomarker-based testing. These advancements have significantly enhanced the identification of psychosis and related conditions, offering more precision, speed, and less invasiveness in diagnostic processes.
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Key Takeaways from the Global Psychosis Diagnostics Industry 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
Global Psychosis Diagnostics Industry 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 2023 to 2033.
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Key Segments Profiled in the Global Psychosis Diagnostics Industry Survey
Drug Class:
- Chlorpromazine
- Fluphenazine
- Haloperidol
- Loxapine
- Perphenazine
- Thioridazine
Treatment:
- Rapid tranquilization
- Medication
- Cognitive behavioral therapy
Distribution Channel:
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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