Biomarkers in Precision Medicine Psychiatry Market Research Report Segmented By Type (Proteomic, Genetic, Metabolomic, Imaging, and Others), By Technology (Sequencing, PCR, Immunoassay, Microarray, and Others), By End-User (Hospitals & Clinics, Research & Academic Institutions, Pharmaceuticals, and Others), and Region- Size, Share, Growth Analysis | Forecast (2024 2030)

Biomarkers in Precision Medicine Psychiatry Market Size (2024 – 2030)

The market size of Biomarkers in Precision Medicine Psychiatry stood at USD 315.97 Million, with a projected expansion to USD 511.05 Million by the close of 2030. Forecasts indicate a compound annual growth rate (CAGR) of 7.11% during the period spanning 2024 to 2030.

Initially, biomarkers were employed solely for diagnosing physical ailments, albeit with limited accuracy due to constrained resources and research and development. Technological advancements have since brought about a paradigm shift in biomarkers, encompassing neuroimaging, genetic, and pharmacogenomic biomarkers. This transformation has driven demand for personalized medications, enhancing treatment efficiency. Looking ahead, the precision medicine psychiatry market is poised for positive developments, notably with the integration of artificial intelligence and machine learning. This evolution is paving the way for digital biomarkers, including wearables, smartphone-integrated biomarkers, voice-enabled biomarkers, and others, facilitating remote diagnosis and monitoring of mental disorders.

Key Market Insights:

According to the National Institute of Mental Health Disorders, 26% of Americans aged 18 and above grapple with diagnosable mental disorders.

The Depression and Bipolar Support Alliance (DBSA) reports approximately 5.7 million American adults suffering from bipolar disorder.

The World Health Organization (WHO) identifies depression as the most prevalent mental disorder, affecting 5% of adults globally.

Mental Health America (MHA) reveals that 1 in 10 youths experience depression, impacting their school, work, family, and social life.

Biomarkers in Precision Medicine Psychiatry Market Drivers:

The escalating incidence of psychiatric disorders has fueled demand for precision medicine psychiatry biomarkers.

The rising prevalence of conditions such as bipolar disorder, depression, acute anxiety, and schizophrenia emphasizes the necessity for biomarkers in developing targeted precision medicines. Factors like busy lifestyles, genetic predisposition, and unfavorable environmental influences further contribute to the surge in mental disorders. Biomarkers aid in identifying brain conditions, facilitating the development of tailored treatments and enabling efficient clinical trials. Additionally, personalized medicines developed using biomarkers can reduce the occurrence of psychiatric diseases.

The increasing demand for personalized treatment has propelled the need for biomarkers in precision medicine psychiatry.

Contemporary preferences favor personalized treatment, providing swift diagnostic outcomes and effective disease management. Biomarkers assist healthcare professionals in targeting specific brain disorders, utilizing advanced diagnostics based on genetic data, medical history, and patient responses. This personalized approach ensures patient safety, reduces exposure to potentially harmful medications, enhances patient engagement, and improves treatment efficacy.

Biomarkers in Precision Medicine Psychiatry Market Restraints and Challenges:

Privacy concerns pose a potential obstacle, diminishing demand for precision medicine psychiatry biomarkers. Digital biomarkers, containing comprehensive patient data, are susceptible to cyber threats, including hacking, data leaks, and misuse, contributing to a downturn in demand.

The high cost of biomarkers, particularly advanced variants, may hinder demand in the precision medicine psychiatry market. Additionally, prevailing stigma and limited awareness surrounding mental health, particularly in developing regions, may impede the utilization of biomarkers.

Biomarkers in Precision Medicine Psychiatry Market Opportunities:

The forecasted period anticipates lucrative opportunities for businesses in the Biomarkers in Precision Medicine Psychiatry Market. Strategies such as acquisitions, partnerships, collaborations, product launches, and agreements are poised to drive growth. The increasing demand for personalized treatment and advancements in biomarker technologies, integrating AI and machine learning, are expected to foster market development and unlock future growth prospects.

Biomarkers in Precision Medicine Psychiatry Market Segmentation: By Type

• Proteomic
• Genetic
• Metabolomic
• Imaging
• Others

As of 2022, the imaging category secured the predominant market share, accounting for approximately 34%. This segment primarily utilizes MRI, PET, and fMRI techniques for advanced neurological analysis, facilitating the identification of structural abnormalities within the brain. Moreover, imaging biomarkers play a crucial role in detecting chronic brain diseases like schizophrenia, Alzheimer’s disease, and Parkinson's disease. These biomarkers offer detailed insights into brain functioning, aiding healthcare professionals in making informed decisions regarding disease severity, abnormalities, and potential responses to medical interventions.

During the forecast period, genetic biomarkers emerge as the fastest-growing segment. These biomarkers leverage an individual’s DNA to identify brain diseases and analyze psychiatric disorders by examining the patient’s genetic history. Additionally, the genetic profile obtained enables healthcare professionals to tailor specific treatment procedures for gradual disease elimination.

Biomarkers in Precision Medicine Psychiatry Market Segmentation: By Technology

• Sequencing
• PCR
• Immunoassay
• Microarray
• Others

In 2022, sequencing dominated the market, capturing a share of about 29.2%. DNA sequencing technology-based biomarkers are extensively utilized in precision medicine psychiatry, targeting specific areas of the brain affected by genetically acquired mental illnesses and past traumas. Notably, next-generation sequencing and Sanger sequencing are commonly employed methods for devising precision treatments.

The fastest-growing segment during the forecast period is immunoassay technology. Immunoassay-based biomarkers facilitate the analysis of neurological disorders through biological samples like blood, urine, and cerebrospinal fluid. These samples aid in assessing the individual's immunity system and identifying neurological issues, contributing to the analysis of brain disorders such as bipolar disorder and schizophrenia. Immunoassay technology empowers healthcare professionals to devise personalized treatment procedures based on patient biomarker data, facilitating the monitoring of the brain's response to medical interventions.

Biomarkers in Precision Medicine Psychiatry Market Segmentation: By End-User

• Hospitals & Clinics
• Research & Academic Institutions
• Pharmaceuticals
• Others

Hospitals & clinics commanded the highest market share in 2022, accounting for approximately 39%. These entities extensively use biomarkers for diagnosing neurological diseases and monitoring them through advanced technologies linked to these biomarkers. Moreover, biomarkers assist in formulating personalized treatment procedures based on patient response, genetic history, and the severity of brain disorders. The increasing trend in healthcare analytics has heightened the demand for smart integration biomarkers, enabling hospitals & clinics to store patient data for future analysis.

The pharmaceutical sector represents the fastest-growing segment during the forecast period. Biomarkers play a crucial role in drug development, allowing pharmaceutical companies to formulate drugs, vaccines, and targeted medicines based on patient disorders. Additionally, biomarkers aid in conducting clinical trials, assessing the potential impact of medicines on overall disorders, and collaborating with healthcare entities and research institutes to collect patient data for developing preventive targeted drugs.

Biomarkers in Precision Medicine Psychiatry Market Segmentation: Regional Analysis

• North America
• Europe
• Asia-Pacific
• South America
• Middle-East & Africa

In 2022, North America held the largest market share at approximately 40%. The region's demand for biomarkers in precision medicine psychiatry is driven by an increased prevalence of brain disorders, continuous advancements in targeted drugs, and a growing need for personalized medicine. For instance, according to Mental Health America, the prevalence of adult mental illness increased by 17.49% in Florida and 29.68% in Utah.

The Asia-Pacific region witnessed rapid growth during the forecast period due to advancements in psychiatry and medical technologies. Government initiatives, such as collaborations with non-profit organizations for mental health programs, have further fueled the demand for biomarkers in precision medicine psychiatry in the region.

COVID-19 Impact Analysis on the Biomarkers in Precision Medicine Psychiatry Market

The pandemic positively impacted the biomarkers in precision medicine psychiatry market. Increased tensions related to the virus outbreak amplified mental health issues, emphasizing the need for efficient diagnostic methods. Although healthcare services initially focused on virus-infected patients, the pandemic led to increased digitization, boosting the demand for digital psychiatric biomarkers with smart integrations. These integrations, such as smartphone and wearable device integration, facilitated remote diagnosis, monitoring, and tracking of patients’ illnesses, driving the adoption of telemedicine and teleconsultation.

Latest Developments

The biomarkers in precision medicine psychiatry market is witnessing an upward trend with the incorporation of smart technologies such as AI and machine learning. These technologies assist in developing targeted medicines to reduce the severity of mental disorders and aid researchers in studying the diseases further.

In September 2022, Feel Therapeutics introduced a digital precision medicine platform to collect valuable data passively, generating real-world evidence for the discovery of digital biomarkers and endpoints. The platform collects physiological data through a monitoring device, detecting mood, stress, and sleep patterns, while also gathering data through voice and text via a mobile app.

In June 2022, Alto Neuroscience utilized AI to create biomarkers, measuring brain biomarkers such as electroencephalogram activities, behavioral patterns, wearable data, and genetic information. This approach aims to contribute to the development of targeted drugs for mental health.

Key Players

1. Alto Neuroscience
2. Feel Therapeutics
3. Kintsugi
4. Sonde Health
5. EVOCAL health
6. Ellipsis Health
7. Genomind
8. Quanterix Corporation