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.
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
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
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Key Segments Profiled in the Psychosis Diagnostics Industry Survey
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