Two changes to global mental health services are expected to grow the psychiatrist market value to more than $320 billion by 2026, a report published Sept. 23 by ReportLinker showed.
More government support for mental health services and a higher demand for psychiatric treatment in response to an increasing prevalence of mental health disorders are expected to be the factors driving up the market value.
The market is projected to grow at 5.9 percent compound annual growth rate from 2022 to 2026, according to the "Psychiatrists Global Market Report 2022."
Some of the major players in the U.S. psychiatrist market are Universal Health Services in King of Prussia, Pa., Massachusetts General Hospital in Boston, NewYork-Presbyterian in New York City, Mayo Clinic in Rochester, Minn., Johns Hopkins Hospital in Baltimore and McLean Hospital in Belmont, Mass.