International Journal of Mental Health & Psychiatry.ISSN: 2471-4372

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Editorial,  Int J Ment Health Psychiatry Vol: 5 Issue: 3

Market Analysis on World Psychiatrists and Psychologists Conference

Denise Dudley

Behavioral Psychologist and Founder of SkillPath Seminars, E-mail: [email protected]

Keywords: Psychiatry

Psychiatry 2020 will give a chance to all partners working on Psychiatry and Psychological disorders to discuss their work. It will gather eminent speakers, scientists, neurologists, junior and senior researchers, medicine and medical device industry will join to talk about their perspectives and research. The conference will be included sessions by world-class specialists in the field of psychiatry, psychology and nursing. In Psychiatry 2020 global symposiums, B2B gatherings, workshops, poster presentations will be organized to talk about the particular subjects in the field of Psychiatry and Psychology.

According to WHO, Psychiatry is defined as a state of well-being in which every individual realizes his or her own potential and can cope with the normal stresses of life, work productively and fruitfully, and are able to contribute to his or her community. Psychological Syndrome is the health condition that is characterized by alterations in thinking, mood, and behaviour that is associated with distress or impaired functioning. Mental disorders contribute to problems that may include disability, pain, or death.

The worldwide specialists market was esteemed at $795.1 billion out of 2017. North America was the biggest geographic area representing $380.1 billion or 47.8% of the worldwide market. The USA was the biggest nation representing $318.8 billion or 40% of the worldwide specialists advertise.

Health at a Glance: Europe 2018, released on November 22, says that mental health problems, such as depression, anxiety disorders and alcohol and drug use disorders, affect more than one in six people across the European Union in any given year. Besides the impact on people’s well-being, the report estimates the total costs of mental ill-health at over EUR 600 billion – or more than 4% of GDP – across the 28 EU countries. A large part of these costs are due to lower employment rates and productivity of people with mental health issues (1.6% of GDP or EUR 260 billion) and greater spending on social security programmes (1.2% of GDP or EUR 170 billion), with the rest being direct spending on health care (1.3% of GDP or EUR 190 billion). The heavy burdens of mental illness on individuals and society are not inevitable, good policies and practices do exist and are in place in many European countries, but much more can still be done to promote and better manage mental health.

Total revenue generated by US in 2019 was 29 billion $, the number of business has grown to 748, annual growth 2014-2019 was 3.1%.

https://www.ibisworld.com/industry-trends/market-research-reports/healthcare-social-assistance/hospitals/psychiatric-hospitals.html

Tele psychiatry Market to hit USD 6,380.3 million by 2025

https://www.globenewswire.com/news-release/2019/06/27/1875124/0/en/Telepsychiatry-Market-to-hit-USD-6-380-3-million-by-2025-Global-Analysis-by-Type-Routine-Forensic-Crisis-In-home-Primary-Secondary-Research-Growth-Drivers-Adroit-Market-Research.html

Technological advancements have led to the growth of telemedicine market. For instance, the number of mobile health applications related to mental health services has increased significantly, with recent estimates suggest that approximately 6% of all mobile health applications developed focus on providing mental health services to users; while an additional 11% of mobile health applications developed are dedicated to providing stress management solutions.

https://ourworldindata.org/mental-health

Funding

Based on 2010 data showed mental disorders as the largest cost driver at $2.5 trillion in global costs in 2010 and projected costs of $6 trillion by 2030.The U.S. National Institutes of Health's yearly budget is $31 billion. Within that agency, the U.S. National Institute of Mental Health (NIMH) has an annual budget of $1.4 billion.

Funding bodies

US National Institutes of Health (NIH)

National Institute of Mental Health (NIMH)

National Institute on Drug Abuse (NIDA)

National Institute on Aging (NIA)

Canadian Institutes of Health Research (CIHR)

Department of Veterans Affairs (VA)

National Health and Medical Research Council of Australia (NHMRC)

European Commission

National Natural Science Foundation of China (NSFC)

UK Medical Research Council (MRC UK)

Forecast

Due to extensive research and growing funding it can be said that in near future with use of advanced approaches and technologies the prevention of childhood mental problem, Suicide, alcohol-related problems and maintenance of depression, Schizophrenia, Mental retardation, Epilepsy can be done easily.

https://www.who.int/mental_health/media/investing_mnh.pdf

Markets Covered: Geriatric Psychiatrists; Pediatric Psychiatrists; Palliative Care And Pain Management Psychiatrists; Sleep Medicine Psychiatrists; Psychosomatic Medicine Psychiatrists; Addiction Psychiatrists; Forensic Psychiatrists

Companies Mentioned: Massachusetts General Hospital, Boston, McLean Hospital, Presbyterian University Hospital of Columbia and Cornell, Johns Hopkins Hospital, Menninger Clinic

Countries: Brazil, China, France, Germany, India, Italy, Japan, Spain, Russia, UK, USA and Australia.

Regions: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East And Africa

Time series: Five years historic and forecast.

Data: Ratios of market size and growth to related markets, GDP, Expenditure Per Capita, The Psychiatrists Market Indicators Comparison.

Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.

Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.

Psychiatrists Global Market Size

The global psychiatrists market was valued at $795.1 billion in 2017. North America was the largest geographic region accounting for $380.1 billion or 47.8% of the global market. The USA was the largest country accounting for $318.8 billion or 40% of the global psychiatrists market.

Psychiatrists Global Market Trend

Digital psychotherapy is a major trend in psychiatrists market. The digital age has entered in the area of psychotherapy; this is called digital psychotherapy. Digital psychotherapy enables people with disabilities and people in remote areas to have access to therapy and education of their problems. Some counselors are already using this technology to hold therapy sessions.

The companies covered are Massachusetts General Hospital, Boston, McLean Hospital, Presbyterian University Hospital of Columbia and Cornell, Johns Hopkins Hospital, and Menninger Clinic.

Conclusion:

Psychiatry 2020 will bring together experts like eminent scientists, senior/junior research fellows, professors, students, leading neurologist & psychiatrists, members of different psychiatric association, medicine and medical technology companies related to psychiatry and psychology from all over the world to share an interest in the field of psychiatry and psychology to discuss about the new concepts and research ideas with advancements in the field which is to be applied in near future for the well-being of humans. Development of new techniques of diagnosis, treatment and prevention has to be recognized which will imply a significant role on the lives of people. The scattered findings and researches regarding this topic will be given another priority as these are the stepping stones for the future.

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