During the past decade, it has been observed that genomics and proteomics are significant influencers as they can trigger the onset and progression of several debilitating psychiatric disorders. Genomic alterations, including single nucleotide polymorphisms (SNPs), copy number variations (CNVs), and other alterations, are responsible for triggering the onset of these disorders. On the other hand, changes in protein structures could also increase the risk of acquiring psychiatric disorders, particularly in the case of Alzheimer’s disease.
However, the advancements in the field of sequencing technologies have supported researchers and physicians in gathering and directing the knowledge pertaining to these underlying alterations and variations in discovering novel genetic and protein biomarkers. Also, extensive research has been carried out that led to the discovery of novel biomarkers, which can be used for diagnosing psychiatric conditions, for instance, precision psychiatry.
Precision psychiatry tests are molecular diagnostic tests for mental health that help researchers and physicians to better identify genetic and protein alterations underlying psychotic conditions such as Alzheimer’s disease, autism, Parkinson’s disease, depression, schizophrenia, and bipolar disorder.
Molecular analysis of biomarkers is critical for identifying and characterizing unique mutations and alterations that accrue in the cells, further leading to psychiatric disease manifestation and progression.
As per the study on genetically encoded sensors published on Molecular Psychiatry, a new sensor has been developed that can evaluate transmissions happening in the brain, both at the microscopic and the nanoscopic level. This development can accelerate the research happening for Alzheimer’s precision medicine.
According to the recent market intelligence report published by BIS Research, the global precision psychiatry market is estimated at $643.6 million in 2020 and is expected to grow at a CAGR of 17.26% during the forecast period, 2021-2026.
Currently, precision psychiatry is still in its nascent stage, with many emerging and legacy companies venturing into the industry with their respective molecular diagnostic portfolios exclusively designed for the assessment and diagnosis of psychotic conditions.
The growth of the market is attributed to decreasing cost of sequencing, increasing adoption of inorganic growth strategies, and global increase in mental health burden. However, there are certain challenges that are restricting the growth of the market, including a lack of established regulatory policies for precision diagnostics in the field of precision psychiatry and the lack of awareness for precision psychiatry diagnostics.
Though precision psychiatry is still emerging in the precision medicine ecosystem, several companies are exploring various avenues in terms of technologies for advancing precision clinical care.
Moreover, with the advancements in sequencing technologies in the recent past, the diagnosis of psychotic conditions is expected to become a standard practice in the forthcoming years for offering tailored therapeutics.