Psychiatrists Global Market Report 2022

NEW YORK, Sept. 23, 2022 (GLOBE NEWSWIRE) — announces the release of the Psychiatrists Global Market Report 2022 –

The global psychiatric market is forecast to grow from US$234.03 billion in 2021 to US$255.09 billion in 2022 at a compound annual growth rate (CAGR) of 9.0%. The psychiatric market is expected to grow to US$320.39 billion by 2026 at a compound annual growth rate (CAGR) of 5.9%.

The market for psychiatrists consists of the sale of psychiatric services and related goods by companies (organizations, sole traders and partnerships) that provide the diagnosis, treatment and prevention of mental, emotional and behavioral disorders. The psychiatric industry includes facilities licensed practitioners with an MD (Doctor of Medicine) or DO (Doctor of Osteopathic Medicine) degree who provide palliative care, treat psychosomatic disorders, mental health disorders, and others. Psychiatrists run private or group practices in their own offices (eg, centers, clinics) or in the facilities of others, such as hospitals or healthcare organization (HMO) medical centers.

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The main types of mental disorders identified by psychiatrists are alcohol abuse mental and behavioral disorders, psychoactive substances, mental and behavioral disorders, schizophrenia, schizotypal and delusional disorders, mood disorders (anxiety and depression), and other mental and behavioral disorders. The patient types are inpatient and outpatient.

The psychology types are social, abnormal, biological, and others.

The regions covered in the Psychiatrist market report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Increasing government support for mental health reforms is expected to drive growth in the psychiatric market. Support for mental health resources created a demand for mental health care and fueled the psychiatric market.

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For example, according to Business Insider, a US-based financial and business news website, Chile announced a mental health budget increase of over 300% in 2021, and Canada announced a $1 billion appropriation in its 2021 budget for mental health. Increasing government support for mental health reforms is driving the growth of the psychiatric market.

The new studies related to psychiatric genetics discover that complex disorders related to mental health are a key trend gaining popularity in the psychiatric market. Psychiatric genetics examines the role of genetics in the causes of mental health and provides knowledge to improve treatment methods.

For example, in 2019, scientists discovered causes related to anorexia, an eating disorder. The researchers found that the problems associated with this disorder were caused by metabolism.

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The researchers compared the DNA of nearly 17,000 anorexia-symptomatic individuals 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 to be expected.

Ultimately, these genetic discoveries will provide clues to the major mental disorders.

The countries covered in the Psychiatrist market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
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