In 2023, the share of practicing psychiatrists within the total US physician workforce stood at approximately 5.35%. Looking at the forecasted data from 2024 to 2028, there is a consistent decline from 5.31% to 5.16%. This reflects a year-on-year decrease, averaging around 0.7% annually. Over the five-year period (2024-2028), the compound annual growth rate (CAGR) indicates a slight but steady downward trend in the share of psychiatrists.

Future trends to watch for include:

Examining changes in healthcare policy that could affect psychiatric practice.
Monitoring the educational pipeline for psychiatry to anticipate workforce changes.
Analyzing demand shifts in mental health services relative to supply constraints.