The Psychiatrists Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Psychiatrists Global Market Report 2024, The psychiatrists market size has grown rapidly in recent years. It will grow from $175.48 billion in 2023 to $199.39 billion in 2024 at a compound annual growth rate (CAGR) of 13.6%. The growth in the historic period can be attributed to mental health awareness, reducing stigma, policy and insurance support, changing lifestyles, advancements in treatment approaches.
The psychiatrists market size is expected to see strong growth in the next few years. It will grow to $281.26 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The growth in the forecast period can be attributed to rising remote mental health services, rising workplace mental health initiatives, expanded mental health coverage, integration with primary care, focus on prevention and early intervention. Major trends in the forecast period include personalized treatment plans, integration of ai and data analytics, online support communities, focus on child and adolescent psychiatry, remote monitoring tools.
The rising government support for mental health reforms is expected to propel the growth of the psychiatrist market going forward. Support for mental health resources led to a demand for mental care and drove the psychiatrists market. For instance, according to Business Insider, a US-based financial and business news website, Chile announced an over 300% increase in the mental health budget in 2021 and Canada announced a $1 billion fund allocation for mental health in its Budget 2021. Therefore, rising government support for mental health reforms is driving the growth of the psychiatrists market.
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The psychiatrists market covered in this report is segmented –
1) Psychiatrists Market By Mental Disorder Type: Alcohol Abuse Mental And Behavioral Disorders, Psychoactive Substance Use Mental And Behavioral Disorders,Schizophrenia, Schizotypal And Delusional Disorders, Mood (Anxiety And Depression) Disorders, and Other Mental And Behavioral Disorders
2) Psychiatrists Market By Patient Type: Inpatient, and Outpatient
3) Psychiatrists Market By Psycology Type: Social, Abnormal, Biological, Other Psycology Types
Top Major Players
Massachusetts General Hospital
Mayo Clinic
Universal Health Services Inc.
New York-Presbyterian University Hospital of Columbia and Cornell
Johns Hopkins Hospital
The new studies associated with psychiatric genetics are discovering complex disorders related to mental health are a key trend gaining popularity in the psychiatrists market. Psychiatric genetics studies the role of genetics in the causes of mental health and provides knowledge to improve treatment methods. For instance, scientists discovered causes related to anorexia, an eating disorder. The researchers found that the problems related to this disorder were driven by metabolism. The researchers compared nearly 17,000 anorexia symptomatic people’s DNA with more than 55,000 healthy controls. The study revealed eight genes that linked anorexia to anxiety, depression, and obsessive-compulsive disorder, all of which were expected. Ultimately, these genetic discoveries will provide clues to the major mental disorders.
The psychiatrists market report table of contents includes:
1. Executive Summary
2. Psychiatrists Market Characteristics
3. Psychiatrists Market Trends And Strategies
4. Psychiatrists Market – Macro Economic Scenario
5. Global Psychiatrists Market Size and Growth
…..
32. Global Psychiatrists Market Competitive Benchmarking
33. Global Psychiatrists Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Psychiatrists Market
35. Psychiatrists Market Future Outlook and Potential Analysis
36. Appendix
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