The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s telepsychiatry market report forecasts the telepsychiatry market size to grow to $22.52 Billion by 2027, with a CAGR (compound annual growth rate) of more than 23%.

Learn More On The Telepsychiatry Market Report 2023 – https://www.thebusinessresearchcompany.com/report/telepsychiatry-global-market-report

Telepsychiatry Market Size Forecast
The global telepsychiatry market is expected to grow from $7.7 billion in 2022 to $9.78 billion in 2023 at a compound annual growth rate (CAGR) of 27.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The telepsychiatry market size is expected to grow to $22.52 billion in 2027 at a CAGR of 23.2%.

North America held the largest telepsychiatry market share.

Key Telepsychiatry Market Driver ­– Increase In Demand For Mental Health Treatment
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.

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Key Telepsychiatry Market Trend – Technological Advancement
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.

Telepsychiatry Market Segment
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

Telepsychiatry Market Major Players and Strategies
Major players in the telepsychiatry market are AllScripts Healthcare Solutions Inc., Cerner Corporation, Sodexo S.A., LogistiCare Solutions LLC, The Allure Group, Aramark Corporation, Alere Inc., Flatworld Solution, Integrated Medical Transport, ABM Industries Inc., Advanced Telemed Services, American Telepsychiatrists, Encounter Telehealth LLC, InnovaTel Telepsychiatry, SOC Telemed, and Telemynd.

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.

The Telepsychiatry Global Market Report 2023 covers regional data on telepsychiatry market size, telepsychiatry market trends and drivers, opportunities, strategies, and telepsychiatry market competitor analysis. The countries covered in the telepsychiatry market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Telepsychiatry refers to the delivery and assistance of clinical psychiatric care, including medical care, providing patient education, health information services, and self-care through telecommunications and digital communication technologies.

View More Reports Related To The Telepsychiatry Market –
Telemedicine Services Global Market Report 2023
Telemedicine Services Global Market Report 2023
Telehealth Global Market Report 2023

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