The global telepsychiatry market size is expected to reach USD 36.3 billion by 2027, expanding at a 24.7% CAGR, according to a new report by Grand View Research, Inc. Increasing mental health disorder and advancement in healthcare IT are key driving factors for this market.
Virtual
consultation help in significantly reducing the travel time and is one the
primary reasons for its growing acceptance among patients. According to the
National Institute Of Mental Health, in 2018 one in five adults in U.S. had a
mental illness. There has been a significant rise in telemental health visits
over the past decade in the developed countries such as U.S., U.K., Germany,
and Spain and the trend is expected to continue during the forecast period,
thereby contributing to the adoption of virtual mental health consultation by
hospitals and healthcare settings. Moreover, the usage of smart surveillance
cameras and analytical software can notify the caregivers in terms of changes
in activity or lack of movement in patients with mental health diseases, which
is increasing the adoption.
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Telepsychiatry
Market Report Highlights
- In terms of revenue, in-home
solutions dominated the application segment in 2019 owing to its increased
usage in home care settings and growing smartphone penetration
- On basis of age group,
adults dominated the segment as of 2019 owing to increasing incidence of
anxiety and depression within this age group
- On basis of end use,
community mental health centers held the largest revenue share in 2019
owing to increase in number of such facilities and its growing popularity
- Some of the key industry
players include InSight Telepsychiatry, Arcadian Telepsychiatry, Iris
Telehealth, Advanced Telemed Services, e-Psychiatry, American
Telepsychiatrists, Encounter Telehealth
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Telepsychiatry
Market Segmentation
Grand View Research has segmented
the global telepsychiatry market on the basis of product, age group, end use,
and region:
Telepsychiatry Product
Outlook (Revenue, USD Million, 2016 - 2027)
- In-home Solutions
- Forensic Solutions
- Routine Solutions
- Crisis Solutions
- Others
Telepsychiatry Age
Group Outlook (Revenue, USD Million, 2016 - 2027)
- Adult
- Pediatric and Adolescent
- Geriatric
Telepsychiatry End-use
Outlook (Revenue, USD Million, 2016 - 2027)
- Community Mental Health
Centers
- Specialty Care Settings
- Skilled Nursing Facilities
- Homecare
- Others
Telepsychiatry Regional
Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- Sweden
- France
- Italy
- Russia
- Netherlands
- Spain
- Switzerland
- Asia Pacific
- China
- India
- Australia
- Singapore
- Japan
- South Korea
- Malaysia
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
List of Key Players
of Telepsychiatry Market
- InSight Telepsychiatry
- Telemynd
- e-Psychiatry
- Advanced Telemed Services
- American Telepsychiatrists
- Iris Telehealth
- MDLIVE Inc.
- innovaTel Telepsychiatry
- SOC Telemed
- Encounter Telehealth, LLC
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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