Personalized Psychiatry Market Size was valued at USD 4.2 Bn in 2023 and is predicted to reach USD 10.1 Bn by 2031 at a 11.8% CAGR during the forecast period for 2024-2031.
Personalized psychiatry is a method of treating mental health issues that takes into account the unique qualities of each patient. It entails tailoring treatment programs to each personalized specific health issue by analyzing their genetic makeup in conjunction with their environmental factors and lifestyle choices. Several factors contribute to the market expansion, such as rising mental health issues, a robust economy, increased consumer spending, rising healthcare expenditure, and a growing population. The increasing number of people living with long-term health issues like diabetes, cancer, and others is driving the personalized psychiatry market size.
The need for customized methods to diagnosis and treatment is growing in response to the rising incidence of these illnesses. Also contributing to the market’s expansion is the existence of several important companies. Furthermore, due to the widespread availability of smartphones and high-speed internet, personalized psychiatry services now reach more people and become an integral part of people’s everyday lives.
However, stringent regulatory requirements and the general public’s lack of familiarity can hinder their market expansion. Furthermore, the personalized psychiatry market’s expansion is the pressing demand for improved mental health diagnosis and treatment. There is a growing market for personalized psychiatry products that target personalized mental health, owing to the increasing interest in these products among consumers. One area where personalized methods are gaining traction is mental health due to the general trend towards precision medicine in healthcare, which will propel the industry's growth during the forecast period.
The personalized psychiatry market is segmented based on type and therapeutic areas. Based on the type, the market is segmented into products, services, and software. By therapeutic areas, the market is segmented into depression, anxiety, bipolar disorder, schizophrenia, addiction, and others.
The products category will hold a major share of the global personalized psychiatry market in 2023 because cutting-edge diagnostic equipment, genetic testing kits, and tailored treatment options are becoming more widely used and accessible. These products make it possible to diagnose mental health issues with great accuracy and to create personalized treatment plans. The variety of accessible, personalized psychiatric solutions is growing as a result of innovation driven by technical breakthroughs and substantial investments in R&D.
The depression segment is projected to grow rapidly in the global personalized psychiatry market owing to the rising number of cases of depression, progress in the field of genetic and biomarker research, and the rising need for personalized psychiatry programs that improve therapeutic results by attending to the unique requirements of each patient and their unique genetic makeup, expanding this market’s segment in the future.
The North American personalized psychiatry market is expected to register the highest market share in revenue in the near future. This is because there is a high frequency of mental health illnesses, a well-developed system for healthcare delivery, substantial funding for R&D, and robust governmental backing for personalized treatment plans. In addition, the Asia Pacific region’s market is anticipated to experience expansion in the global market for personalized psychiatry because of improvements in genetic and diagnostic tools, a greater focus on mental health, more funding for healthcare, an increase in the frequency of mental diseases, and general public comprehension of the importance of mental health, which drives the market growth in this area.
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Report Attribute |
Specifications |
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Market Size Value In 2023 |
USD 4.2 Bn |
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Revenue Forecast In 2031 |
USD 10.1 Bn |
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Growth Rate CAGR |
CAGR of 11.8% from 2024 to 2031 |
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Quantitative Units |
Representation of revenue in US$ Million and CAGR from 2024 to 2031 |
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Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Type, By Therapeutic Areas and By Region |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
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Competitive Landscape |
GreyBird Ventures, Sunovion Pharmaceuticals Inc., HMNC Holding GmbH, Arcara Personalized Psychiatry, Starling Minds, Karuna Therapeutics, CBT Plus, AltheaDx, Inc., WayForward, BrightQuest, and Peak Mental Wellness. |
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Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global Personalized Psychiatry Market Snapshot
Chapter 4. Global Personalized Psychiatry Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. Competitive Landscape & Market Share Analysis
4.8. Impact of Covid-19 Analysis
Chapter 5. Market Segmentation 1: by Type Estimates & Trend Analysis
5.1. by Type & Market Share, 2019 & 2031
5.2. Market Size (Value (US$ Mn) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Type:
5.2.1. Products
5.2.1.1. Diagnostics
5.2.1.2. Therapeutics
5.2.2. Services, Software
Chapter 6. Market Segmentation 2: by Therapeutic Areas Estimates & Trend Analysis
6.1. by Therapeutic Areas & Market Share, 2019 & 2031
6.2. Market Size (Value (US$ Mn) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Therapeutic Areas:
6.2.1. Depression
6.2.2. Anxiety
6.2.3. Bipolar Disorder
6.2.4. Schizophrenia
6.2.5. Addiction
6.2.6. Others
Chapter 7. Personalized Psychiatry Market Segmentation 3: Regional Estimates & Trend Analysis
7.1. North America
7.1.1. North America Personalized Psychiatry Market Revenue (US$ Million) Estimates and Forecasts by Type, 2023-2031
7.1.2. North America Personalized Psychiatry Market Revenue (US$ Million) Estimates and Forecasts by Therapeutic Areas, 2023-2031
7.1.3. North America Personalized Psychiatry Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031
7.2. Europe
7.2.1. Europe Personalized Psychiatry Market Revenue (US$ Million) Estimates and Forecasts by Type, 2023-2031
7.2.2. Europe Personalized Psychiatry Market Revenue (US$ Million) Estimates and Forecasts by Therapeutic Areas, 2023-2031
7.2.3. Europe Personalized Psychiatry Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031
7.3. Asia Pacific
7.3.1. Asia Pacific Personalized Psychiatry Market Revenue (US$ Million) Estimates and Forecasts by Type, 2023-2031
7.3.2. Asia Pacific Personalized Psychiatry Market Revenue (US$ Million) Estimates and Forecasts by Therapeutic Areas, 2023-2031
7.3.3. Asia Pacific Personalized Psychiatry Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031
7.4. Latin America
7.4.1. Latin America Personalized Psychiatry Market Revenue (US$ Million) Estimates and Forecasts by Type, 2023-2031
7.4.2. Latin America Personalized Psychiatry Market Revenue (US$ Million) Estimates and Forecasts by Therapeutic Areas, 2023-2031
7.4.3. Latin America Personalized Psychiatry Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031
7.5. Middle East & Africa
7.5.1. Middle East & Africa Personalized Psychiatry Market Revenue (US$ Million) Estimates and Forecasts by Type, 2023-2031
7.5.2. Middle East & Africa Personalized Psychiatry Market Revenue (US$ Million) Estimates and Forecasts by Therapeutic Areas, 2023-2031
7.5.3. Middle East & Africa Personalized Psychiatry Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031
Chapter 8. Competitive Landscape
8.1. Major Mergers and Acquisitions/Strategic Alliances
8.2. Company Profiles
8.2.1. GreyBird Ventures
8.2.2. Sunovion Pharmaceuticals Inc.
8.2.3. HBNC Holding GmbH
8.2.4. Arcara Personalized Psychiatry
8.2.5. Starling Minds
8.2.6. Karuna Therapeutics
8.2.7. CBT Plus
8.2.8. AltheaDx, Inc.
8.2.9. WayForward
8.2.10. BrightQuest
8.2.11. Peak Mental Wellness
Personalized Psychiatry Market- By Type
Personalized Psychiatry Market- By Therapeutic Areas
Personalized Psychiatry Market-By Region
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
To know more about the research methodology used for this study, kindly contact us/click here.
