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Telepsychiatry Global Market Report 2022

·4-min read

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.

New York, Sept. 07, 2022 (GLOBE NEWSWIRE) -- announces the release of the report "Telepsychiatry Global Market Report 2022" -
, Advanced Telemed Services, American Telepsychiatrists, Encounter Telehealth LLC, InnovaTel Telepsychiatry, SOC Telemed, and Telemynd

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%.

The telepsychiatry market consists of sales of telepsychiatry services by entities (organizations, sole traders, and partnerships) that are used for providing psychiatric assessment and care, usually through videoconferencing. 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.

The main types of telepsychiatry are routine telepsychiatry, forensic telepsychiatry, crisis telepsychiatry, and in-home telepsychiatry.Routine telepsychiatry involves a consistent provider or small group of providers serving a regular caseload of consumers in previously scheduled blocks of time.

The age groups are adult, paediatric and adolescent, and geriatric. The various end-users involved are community mental health centers, specialty care settings, skilled nursing facilities, home care, and other end-users.

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 telepsychiatry market research report is one of a series of new reports that provides telepsychiatry market statistics, including telepsychiatry industry global market size, regional shares, competitors with a telepsychiatry market share, detailed telepsychiatry market segments, market trends and opportunities, and any further data you may need to thrive in the telepsychiatry industry. This telepsychiatry market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

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.

The countries covered in the telepsychiatry market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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