Telepsychiatry Global Market to Reach $18.11 Billion by 2026 at a CAGR of 24%

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Nov 01, 2022, 12:00 ET

DUBLIN, Nov. 1, 2022 /PRNewswire/ -- The "Telepsychiatry Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.

The global telepsychiatry market is expected to grow from $6.02 billion in 2021 to $7.65 billion in 2022 at a compound annual growth rate (CAGR) of 27.2%. The telepsychiatry market is expected to grow to $18.11 billion in 2026 at a CAGR of 24%.

North America was the largest region in the telepsychiatry market in 2021. The regions covered in the telepsychiatry market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The increase in demand for mental health treatment is expected to propel the growth of the telepsychiatry market going forward. Mental health refers to the cognitive, behavioral, and emotional well-being of a person. Psychologists are reporting a large increase in demand for the treatment of anxiety and depression.

For instance, in 2021, according to the American Psychological Association, a US-based professional organisation that represents psychologists, nearly 84% of psychologists who treat anxiety disorders said they have seen increased demand for anxiety treatment since the pandemic when compared with the last decade when it was 74%. Also, 72% of psychologists said that there was an increase in depression prevalence compared with 60% in 2020. Therefore, the increase in demand for mental health treatment is driving the growth of the telepsychiatry market.

Technological advancements are key trends gaining popularity in the telepsychiatry market. Major companies operating in the telepsychiatry market are focused on developing new technological solutions to strengthen their position. For instance, in December 2021, Zoom Video Communications Inc., a US-based communications technology company, along with Cerner Corp.'s electronic health record platform and a US-based company that provides telepsychiatry, launched an integration option for facilitating easier access to telehealth within Cerner's EHR. This includes the in-chart notifications when the patient has entered the appointment waiting room and the ability to send an invite link to additional participants, like family members, interpreters, and other care providers, and is accessible to join the session.

In December 2021, Quartet Health, a US-based tech-enabled mental health care company, acquired InnovaTel Telepsychiatry for an undisclosed amount. Through this acquisition, Quartet will develop market-leading care delivery capabilities to complement its existing ecosystem of high-performing clinicians who practise in-network on behalf of health insurance plans. InnovaTel Telepsychiatry is a US-based telepsychiatry service provider of psychiatrists, nurse practitioners, and licenced clinical social workers.

Scope
Markets Covered:

1) By Type: Routine Telepsychiatry; Forensic Telepsychiatry; Crisis Telepsychiatry; In-Home Telepsychiatry
2) By Age Group: Adult; Pediatric and Adolescent; Geriatric
3) By End-Use: Community Mental Health Centers; Specialty Care Settings; Skilled Nursing Facilities; Homecare; Other End-Users

Key Topics Covered:

1. Executive Summary

2. Telepsychiatry Market Characteristics

3. Telepsychiatry Market Trends And Strategies

4. Impact Of COVID-19 On Telepsychiatry

5. Telepsychiatry Market Size And Growth

6. Telepsychiatry Market Segmentation

7. Telepsychiatry Market Regional And Country Analysis

8. Asia-Pacific Telepsychiatry Market

9. China Telepsychiatry Market

10. India Telepsychiatry Market

11. Japan Telepsychiatry Market

12. Australia Telepsychiatry Market

13. Indonesia Telepsychiatry Market

14. South Korea Telepsychiatry Market

15. Western Europe Telepsychiatry Market

16. UK Telepsychiatry Market

17. Germany Telepsychiatry Market

18. France Telepsychiatry Market

19. Eastern Europe Telepsychiatry Market

20. Russia Telepsychiatry Market

21. North America Telepsychiatry Market

22. USA Telepsychiatry Market

23. South America Telepsychiatry Market

24. Brazil Telepsychiatry Market

25. Middle East Telepsychiatry Market

26. Africa Telepsychiatry Market

27. Telepsychiatry Market Competitive Landscape And Company Profiles

28. Key Mergers And Acquisitions In The Telepsychiatry Market

29. Telepsychiatry Market Future Outlook and Potential Analysis