Several factors have been affecting human health in today’s times. Rising level of competition, excessive consumption of junk food along with changing economic conditions are adversely affecting one’s lifestyle. Presently, several people are suffering from mental health issues. This spike in mental health diseases contributes to the growth of the global telepsychiatry market.
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Unlike most of the industries, the global telepsychiatry market witnessed tremendous growth in the times of COVID-19 pandemic. Unemployment levels were at an-all time high, this pushed many people towards the danger of depression. Telepsychiatry services proved to be a boon for majority of people as those services were available remotely.
One of the major factors that dents the growth of the global telepsychiatry market is growing concerns regarding privacy. The personal data of patients is extremely critical and can be used wrongly if fallen in wrong hands.
Meanwhile, the global telepsychiatry market is forecasted to witness tremendous growth over the period of next few years, courtesy of massive technological advancements witnessed by healthcare sector. Latest innovations would make psychiatry services easily accessible and this would help the global telepsychiatry market grow.
In terms of revenue, the global telepsychiatry market was valued at US$ 6.03 Bn in 2021 is growing at an estimated CAGR of 26.3% over the forecast period
By Age Group, Adults Segment is forecasted to witness growth at the highest rate for The Global Telepsychiatry Market in 2022
Compared to teenagers, adults are more likely to suffer from mental health issues and this is the reason why this segment generates maximum amount of revenue for this market. This age group is also more vocal and open about such type of health issues, which ensures they get right treatment.
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Asia Pacific Region is Expected to Witness Fastest Growth Over the Forecast Period (2022 – 2030) in the Global Telepsychiatry Market
Countries of India and China have highest number of populations, majorly working in IT sector. The corporate ecosystem and working style is likely to take toll on their mental health. This is the reason why the demand for telepsychiatry services is on a rise in this region.
Some of the major players operating in the global telepsychiatry market are listed below:
- Array (Insight Telepsychiatry)
- MDsafari Inc. (e-psychiatry)
- Advanced TeleMed Services
- SOC Telemed
- innovaTel Telepsychiatry
- Iris Telehealth Inc.
- MDLIVE Inc.
- Encounter Telepsychiatry
- Other Market Participants
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\Global Telepsychiatry Market Segmentation
Global telepsychiatry market has been segmented by product, services, disease indication, age group, end use and regions which are further classified into respective countries:
Global Telepsychiatry Market Product Outlook (Revenue, USD Million, 2015 - 2030)
- Home-based Telepsychiatry
- Forensic Telepsychiatry
- On-demand Telepsychiatry
- Scheduled Telepsychiatry
Global Telepsychiatry Market Services Outlook (Revenue, USD Million, 2015 - 2030)
- Psychiatric Evaluations
- Forensic Evaluations
- Tele-mental Health Counselling
- Psychiatric Consultation
- Individual Therapy
- Group Therapy
- Family Therapy
- Patient Education
- Medication Management
Global Telepsychiatry Market Disease Indication Outlook (Revenue, USD Million, 2015 - 2030)
- Anxiety Disorders
- Dissociative Disorders
- Eating Disorders
- Gender Dysphoria
- Obsessive-Compulsive Disorder (OCD)
- Personality Disorders
- Posttraumatic Stress Disorder (PTSD)
Global Telepsychiatry Market Age Group Outlook (Revenue, USD Million, 2015 - 2030)
Global Telepsychiatry Market End Use Outlook (Revenue, USD Million, 2015 - 2030)
- Federally Qualified Mental Health Centers
- Private Practice
- Outpatient Clinics
- Nursing Homes
- Military Treatment Facilities
- Skilled Nursing Facilities
- Community Mental Health Centers
- Primary Care Centers
- Residential Treatment Facilities
Global Telepsychiatry Market Regional Outlook (Revenue, USD Million, 2015 - 2030)
- North America (U.S., Canada, Mexico, Rest of North America)
- Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
- Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
- Latin America (Brazil, Argentina, Rest of Latin America)
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