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

The Biomarkers in Precision Medicine Psychiatry Market was valued at USD 315.97 Million and is projected to reach a market size of USD 511.05 Million by the end of 2030. Over the outlook period of 2024-2030, the market is anticipated to grow at a CAGR of 7.11%.

In the early periods, biomarkers were only used to diagnose chronic illness related to the physical body, which was however less accurate due to a lack of advanced resources and research & development. However, with advancements in technology, biomarkers witnessed a complete transformation. These include the development of neuroimaging biomarkers, genetic biomarkers, pharmacogenomic biomarkers, and others. Furthermore, this development raised the demand for personalized medications leading to increased efficiency in treatment procedures. Furthermore, the future holds positive for biomarkers in the precision medicine psychiatry market, as with the advent of AI and machine learning in biomarker technology, there is an increasing trend towards the development of digital biomarkers that can aid in remotely diagnosing and monitoring patients’ mental disorders. These include wearable biomarkers, biomarkers with smartphone, and other smart device integration, voice-enabled biomarkers, and others.

Key Market Insights:

As per the National Institute of Mental Health Disorders, 26% of Americans aged 18 and above suffer from a diagnosable mental disorder.

Furthermore, as per DBSA (Depression and Bipolar Support Alliance), approximately 5.7 million adults in America suffer from bipolar disorder.

As per WHO, depression is the most common mental disorder and globally 5% of adults suffer from depression disorder.

As per Mental Health America (MHA), 1 in 10 youth are experiencing depression that is affecting their ability to function at school, work, with family, and in their social life.

Biomarkers in Precision Medicine Psychiatry Market Drivers:

The increasing incidence of psychiatric diseases has boosted the demand for biomarkers in precision medicine psychiatry in the market.

The continuous rise in the number of psychiatric disorders such as bipolar disorder, depression, acute anxiety, schizophrenia, and others has emphasized the need to utilize biomarkers for developing precision medicines that target specific disorders and help in the treatment process. Moreover, busy lifestyles, genetic history of mental health disorders, unfavorable environmental factors such as post-traumatic disorder, childhood trauma, and others have further increased the prevalence of mental disorders. Biomarkers for psychiatric diseases help in identifying the brain’s structural and functional condition and aid in developing treatment procedures that can minimize the impact of the disease. Moreover, psychiatric biomarkers aid in performing clinical trials by analyzing the disease data set and patient response to drug interventions. In addition, research institutes and pharmaceutical companies can reduce the incidence of psychiatric diseases by using biomarkers for developing drugs and personalized medicines.

Rising demand for personalized treatment has boosted the demand for biomarkers in precision medicine psychiatry in the market.

Individuals in recent times have shifted their preferences towards personalized treatment measures, as it helps them to get quick diagnostic results and combat the disease more effectively. Moreover, biomarkers help healthcare professionals to target specific brain disorders and develop personalized treatments for patients. Additionally, advanced biomarkers aid in diagnosing mental disorders based on the patient’s genetic data, their medical history, and responses and allergies to specific medicines. This helps them in providing personalized treatment procedures to patients based on the data obtained. Moreover, patients are more likely to respond to personalized medicine or treatments, as it ensures patients' safety by reducing exposure to harmful medicines. Additionally, it increases patient engagement in treatment procedures and thus improves the efficiency of the treatment.

Biomarkers in Precision Medicine Psychiatry Market Restraints and Challenges:

Privacy concerns can decrease the demand for biomarkers in precision medicine psychiatry in the market. Biomarkers, especially digital biomarkers contain entire data of a patient’s genetic history, previous health illnesses, medications and dosages, and others, which are stored on software. This increases the exposure of the biomarker to cyber-attacks such as hacking, data leaks, misuse of data, and others, leading to a decline in demand for psychiatric biomarkers in the market.

The expensive cost of biomarkers, especially advanced biomarkers can decrease the demand for biomarkers in precision medicine psychiatry in the market.

Furthermore, the narrow mindset and stigma attached to mental health in many regions, especially the developing ones can decline the usage of biomarkers in precision medicine psychiatry in the market.

Biomarkers in Precision Medicine Psychiatry Market Opportunities:

The Biomarkers in Precision Medicine Psychiatry Market is anticipated to deliver lucrative opportunities for businesses, which include acquisitions, partnerships, collaborations, product launches, and agreements during the forecasted period. Furthermore, increasing demand for personalized treatment methods and increasing advancements in biomarker technologies such as the incorporation of AI and machine learning for measuring diseases are predicted to develop the market for Biomarkers in Precision Medicine Psychiatry and enhance its future growth opportunities.

BIOMARKERS IN PRECISION MEDICINE PSYCHIATRY MARKET REPORT COVERAGE:

Biomarkers in Precision Medicine Psychiatry Market Segmentation: By Type

• Proteomic

• Genetic

• Metabolomic

• Imaging

• Others

In 2022, the imaging segment occupied the highest share of about 34% in the market. Imaging biomarkers are used for advanced neurological analysis, which includes the use of MRI, PET, and fMRI techniques to identify abnormalities inside the brain’s structure. Moreover, this biomarker helps in identifying chronic brain diseases such as schizophrenia, Alzheimer’s disease, Parkinson's disease, and others. In addition, imaging biomarkers provide detailed insight into brain functioning, which includes abnormalities, severity of the diseases, and potential response toward medical intervention. These help healthcare professionals in making better treatment decisions.

Genetic biomarkers are the fastest-growing segment during the forecast period. These biomarkers help in identifying brain diseases based on an individual’s DNA. That is, it helps in analyzing and studying psychiatric disorders in the brain by analyzing and assessing the patient’s genetic history for potential symptoms. Moreover, it can be used to assess depression levels, schizophrenia, and other brain illnesses by analyzing the genetic profile of the patient. Moreover, healthcare professionals, based on the data obtained can devise specific treatment procedures that can gradually eliminate the disease.

Biomarkers in Precision Medicine Psychiatry Market Segmentation: By Technology

• Sequencing

• PCR

• Immunoassay

• Microarray

• Others

In 2022, sequencing occupied the highest share of about 29.2% in the market. Biomarkers based on DNA sequencing technology are widely used in precision medicine psychiatry, as they help to target specific areas of the brain that are affected by genetically acquired mental illness and past traumas. Moreover, next-generation sequencing and Sanger sequencing are the commonly used methods of DNA sequencing for devising precision treatments for patients.

Immunoassay is the fastest-growing segment during the forecast period. Biomarkers based on immunoassay technology help in analyzing neurological disorders through biological samples such as blood samples, urine, and cerebrospinal fluid. Moreover, these samples help in assessing the immunity system of an individual and analyze the presence of neurological issues such as neuroinflammatory issues and others, that further help in analyzing the development of brain disorders such as bipolar and schizophrenia. Furthermore, immunoassay enables healthcare professionals to devise personalized and targeted treatment procedures based on the patient’s biomarker data. Additionally, immunoassays can be utilized for tracking and monitoring the response of the brain to medical and psychiatric interventions that can further help healthcare professionals in optimizing treatment procedures.

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

• Hospitals & Clinics

• Research & Academic Institutions

• Pharmaceuticals

• Others

In 2022, hospitals & and clinics occupied the highest share of about 39% of the market. Hospitals & and clinics are the major users of biomarkers in precision medicine, as they require them for diagnosing various neurological diseases, as well as monitoring those diseases using advanced monitoring technologies that are linked to these biomarkers. Furthermore, these biomarkers help them in devising personalized treatment procedures based on the patient’s response to medicines, genetic history, severity of brain disorders, and others. Additionally, rising trends in healthcare analytics have increased the demand for smart integration biomarkers that help hospitals & and clinics store patient data for future analysis.

Pharmaceuticals are the fastest-growing segment during the forecast period. Biomarkers are crucial for drug development, and hence help pharmaceutical companies and institutes develop drugs, vaccines, and other targeted medicines based on the patient’s disorder. Moreover, it helps them perform clinical trials of these medicines and analyze their potential effect on the overall disorder. Additionally, it also helps them collaborate with hospitals clinics, and research institutes for collecting patient data such as disease severity that can further help them assess the global effect of the disease and develop 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 occupied the highest share of about 40% of the market. Rising number of brain disorders (For instance, as per Mental Health America, there is an increased prevalence of adult mental illness of about 17.49% in Florida and 29.68% in Utah), continuous advancement in targeted drugs and precision medicine, and increasing demand for personalized medicine has contributed to the demand for biomarkers in precision medicine psychiatry in the region.

Asia-Pacific witnessed a faster growth during the forecast period. Rapid advancements in psychiatry and medical technologies, and an increase in government initiatives such as collaboration with non-profit organizations for mental health programs have contributed to 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 had a positive impact on the biomarkers in the precision medicine psychiatry market. The pandemic resulted in increased tensions related to the virus outbreak, which affected the mental health of many people. Moreover, many people lost their jobs during the pandemic, increasing depression, anxiety, stressful disorders, and others, which emphasized the need for efficient diagnosing methods that helped to reduce the impact of the mental disease. However, the shifted focus of healthcare services toward virus-infected patients somewhat declined the demand market growth of psychiatric disorders. However, increased digitization during the pandemic, increased the demand for digital psychiatric biomarkers that were available with smart integrations such as smartphone and wearable device integration, allowing doctors to diagnose, monitor, and track patients’ illnesses remotely. This further led to an increase in the adoption of telemedicine and teleconsultation during the pandemic.

Latest Developments:

The market for biomarkers in the precision medicine psychiatry market is witnessing an upward trend with the incorporation of smart technologies such as AI and machine learning that assist in the development of targeted medicines that can reduce the severity of mental disorders and aid researchers in further study of the disease.

• In September 2022, Feel Therapeutics launched a digital precision medicine platform. The platform aimed to collect clinically valuable data passively and generate real-world evidence on a 24/7 basis for further discovery of digital biomarkers and endpoints. Moreover, with the help of this platform, Feel Therapeutics collects physiological data through its data monitoring device that detects the mood, stress, and sleep patterns of an individual, and at the same time, it collects data through voice and text via its mobile app.

• In June 2022, Alto Neuroscience utilized AI to make biomarkers. It helps to measure brain biomarkers, such as electroencephalogram activities, behavioral patterns, wearable data, genetic, and other data, that aim to help in the development of targeted drug development 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