2020 Psychiatrists Market by Segments (Mental Disorder & Behavioral Disorders) Report by TBRC

LONDON, Jan. 21, 2020 /PRNewswire/ --  Increasing Prevalence Of Virtual Mental Health Counseling In The $197 Billion Psychiatrists' Market

Telepsychiatry technology has become a prominent technology for the exchange of valid information for diagnosis, treatment and prevention of disease in the global psychiatrists' market. Virtual mental health counseling is an effective solution for providing specialty healthcare in the form of improved access and reduced cost at a single point of virtual access to grant consumers answers to their healthcare needs from a distance. According to a study by the US-based hospital and biomedical research facility, Johns Hopkins, there is a 25% drop in the number of days patients were hospitalized if they chose online counseling. In practice, the National Institute of Mental Health Sciences and Neuro Sciences (NIMHANS), a mental health and neuroscience education and patient care institution, and Indian Space Research Organization (ISRO), have collaborated to provide telepsychiatry consultations to patients of district hospitals in Karnataka, India. Read More On The Business Research Company's Psychiatrists' Market Report @ https://www.thebusinessresearchcompany.com/report/psychiatrists-market

The psychiatrists' industry is continuously incorporating new technologies for diagnosis and treatment. Various applications are being used by doctors and patients around the world to diagnose and improve mental health.  For instance, 'Spire' is a wearable technology that can detect emotions, breathing patterns and other physiological signs, and send notifications accordingly to user's phone with suggestions on how to relax, or other wellness tips needed to improve the user's mood. Similarly, Pala-linq, a mobile app with wearable and web components, supports patients with drug/alcohol addiction. The app tracks mind, body and spiritual activity levels, and keeps users close to their support network and on track with recovery goals to prevent relapse. The implementation of such apps improves the efficiency of diagnosis and treatment offered by psychiatrists.

Adoption Of Mobile And Connected Technologies For Psychiatric Diagnosis

Mobile and connected technologies are being implemented by psychiatric cares to assist in diagnosing and treating mental illness. Some developments such as the evolution of electronic medical records to document, communicate, and support clinical decision-making, are quickly becoming commonplace. These technologies offer real-time visibility of patient health through active and passive data collection. New e-tools can also monitor patients' conditions such as behavioral patterns, and physiological sensing. It enables psychiatric care providers to create novel diagnostic tests for psychiatry.

Recent technological advances brought forward new diagnostic and treatment tools which improved standards of care. Psychiatrists have benefited from electronic systems for maintaining more useful and transferable health records. For instance, Sanvello Health Inc. offers therapeutic technology through a mobile app solution for stress, anxiety, and depression by tracking mood patterns.  Developments in healthcare technologies contributed to the growth of the psychiatrists' market, and will continue to drive it in the forecast period up to 2023, at an annual growth rate of 6.9%.  Request A Sample Of The Psychiatrists' Market Report @ https://www.thebusinessresearchcompany.com/sample.aspx?id=549&type=smp

Social Acceptance Will Contribute To The Psychiatrists' Market Growth

The global psychiatrists' market is expected to grow from $197 billion in 2019 to $256.9 billion in 2023. As the prevalence of mental health issues increase, including conditions from across the spectrum including dementia, depression and addiction, so too does the prevalence of the general public's awareness of the psychiatric help available to sufferers increase. As the profile of both mental health and psychiatrists increases, public acceptance of these conditions and services follows. Historically, in many countries, mental health issues have been viewed in a derogatory fashion, with sufferers reluctant to seek the diagnoses or treatment they may need for fear of the attached social stigma. Society, however, is slowly progressing, with increased public acceptance of conditions, which will gradually contribute to increase demand for psychiatrists.

Millennials Are Using Walk-In Clinics And Telemedicine Services More Than Their Older Counterparts

A survey was conducted by the Employee Benefit Research Institute (EBRI), a USA-based nonprofit research institute, in the USA, in 2018, among 3,560 Americans aged 21—64 years. According to the survey, millennials were opting for walk-in clinics more than baby-boomers (30% versus 14%), utilizing telemedicine more than baby-boomers (40% versus 19%), and used online sources to read reviews about hospitals and doctors (51% versus 31%). According to the same survey, about 28% of millennials were using cost tracking of medicines compared to 10% of baby boomers.

The psychiatrists' industry includes establishments of licensed practitioners with a degree of M.D. (Doctor of Medicine) or D.O. (Doctor of Osteopathic Medicine) that provide palliative care, treat psychosomatic disorders, mental disorders and others. Psychiatrists operate private or group practices in their own offices (e.g., centers, clinics) or in the facilities of others, such as hospitals or health maintenance organization (HMO) medical centers. Place  a DIRECT PURCHASE Order of complete report @ https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=549 .

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