A new market research report by Transparency Market Research, titled “Psychiatry Therapies Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020”, encapsulates an extensive analysis of the psychiatry therapies market and covers the historical information, insights, and statistically-supported and industry validated information related to the market. The market has been studied on various segments in order to present an overall picture and understanding of this market. The study present a six year forecast as to how the market is anticipated to progress in the coming years. SWOT analysis and Porter’s five forces model have also been deployed for the making of this study. The report is an amalgamation of both qualitative and quantitative assessment done by industry players across the value chain.
Psychiatric therapies comprise therapeutic interaction processes amongst patients and psychiatric professionals for the treatment of psychology-related issues of patients. Psychiatry therapies primarily rely upon establishing relationships amongst psychiatry therapist and patients and utilize electric shocks or psychological drugs for altering the patients’ emotions. The increasing occurrence of emotional and mental disorders worldwide will fuel the growth of the market for psychiatry therapies. In addition, the increasing mental, emotional, physical, and stress conditions will raise the psychiatry therapies’ demand and will thus augment the development of the global psychiatry therapies market.
However, the stringent regulations posed on the practice of psychotherapies by numerous governments globally may hamper the development of the market for psychiatry therapies. Additionally, psychological drugs’ patent expiry will also pose a negative impact on the development of the market.
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In the next part of the report, the segmentation of the market has been encapsulated. In terms of type, the report categorizes the global psychiatry therapies market into biological psychology, social psychology, abnormal psychology, and others. In terms of geography, the psychiatry therapies market is led by North America. This is due to the increasing occurrence of depression and schizophrenia amongst patients in this region. Europe trailed North America and constituted the second position in the market. The proliferation of psychotherapy associations such as British Association for Counselling and Psychotherapy are amongst the key reasons behind the exponential growth of the market in Europe.
On the other hand, China, South East Asia, and India are upcoming psychiatry therapy markets due to the increasing occurrence of awareness regarding psychological diseases amongst individuals and the shifting lifestyles of individuals in these areas.
The main players operating in this market are Astrazeneca, Universal Health Services Inc., Johnson & Johnson, GlaxoSmithKline, Pfizer, Eli Lilly, Bristol-Meyer Squibb, Wyeth, Astellas Pharma Inc., among others, as per this study.
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