According to Future Market Insights, the psychosis diagnostics market demand is expected to grow at a CAGR of 5.3% between 2023 and 2033. The global market for Psychosis diagnostics is expected to reach US$ 3.6 billion by 2033. The market’s growth can be attributed to increased awareness of mental health disorders, advancements in diagnostic technology, and a growing desire for tailored and precision treatment.
Diagnostic technology developments have also contributed significantly to industry expansion. Significant breakthroughs in mental health diagnostics have occurred, with novel imaging techniques and biomarker-based testing making psychosis and related conditions easier to identify. These new technologies are not only more precise, but also faster and less obtrusive, making them more accessible to patients. Overall, the psychosis diagnostics market is predicted to grow greatly in the next years due to a variety of factors.
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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
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
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