United State-Report Ocean (150+ country’s markets analyzed, function on 1,00000+ published and forthcoming reports every year.] presents a research report and top winning strategies for the Telepsychiatry. Best subject matter experts, researchers, and market research professionals organized this report in order to ensure that the information in it is compiled from the most authentic sources and that the forecast is of the highest accuracy. To forecast market growth, specialists employ a variety of methodologies and analytical approaches, including S.W.O.T. (analysis methods), P.E.S.T.E.L. analysis, and regression analysis. The Telepsychiatry study also looks at the various regulations and policies that the firm has implemented. This report discusses the industry in terms of research technology and precise prospective utilization, innovation, and future advancements in the Telepsychiatry.
The telepsychiatry market size is expected to reach USD 40.65 billion by 2030 according to a new study by Report Ocean. Report Ocean presents a new report on telepsychiatry market size, share, growth, industry trends, and forecast 2030, covering various industry elements and growth trends helpful for predicting the market’s future.
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The report “Telepsychiatry Market Report, By Product (In-home solutions, Forensic solutions, Routine solutions, Crisis solutions, Others); By Age Group (Adult, Pediatric & Adolescent, Geriatric); By End-Use; By Regions; Global opportunity analysis and industry forecast 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The current ongoing pandemic of COVID-19 has impacted several market sectors, including healthcare apps. Governments all across the globe have responded to this with all essential initiatives such as lockdowns, large-scale quarantine, and social distancing, to contain the infection. This has resulted in employee layoffs, which impacted the mental health of people driving the market for telepsychiatry.
As per the KFF poll, more than 47 percent of U.S. citizens have reported mental health issues and it is being reported that around 21 percent was due to job loss. Moreover, according to the statistics published by the National Alliance on Mental Illness, around 43.3 percent of the U.S. population had received treatment for mental disorders, in 2018.
For instance, in December 2020, the U.S.-based telehealth company, MeMD introduced telepsychiatry services to manage employee’s mental health issues amid the COVID-19 pandemic. It includes the “Healthy minds first program” providing employers and their employees to assess critical mental health behaviors. The launch is on the backdrop of the report published by the Center for Prevention and Health Services, which states that mental problems and drug abuse cost employers between USD 79 to 105 each year, collectively in the form of productivity, employee absence, and disability.
Previously, in October 2020, Teladoc Health introduced its new service Mental Health Care, enabling its employees to access the best lot of sleep therapists, psychologists, and psychiatrists through their phones, via mobile app. This new service will expand the company’s telehealth services, particularly into niche offerings, such as telepsychiatry.
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Market participants such as InSightTelepsychiatry, MDLIVE Inc., e-Psychiatry, SOC Telemed, Advanced Telemed Services, Telemynd, American Tele-psychiatrists, Iris Telehealth, innovaTel Telepsychiatry, and Encounter Telehealth, LLC.are some of the key players operating in the market for telepsychiatry. The companies in the market are introducing innovative apps and services to perform well in the crowded market.
Segmentation:
Telepsychiatry, Product Outlook (Revenue – USD Million, 2016 – 2028)
In-home solutions
Forensic solutions
Routine solutions
Crisis solutions
Others
Telepsychiatry, Age Group Outlook (Revenue – USD Million, 2016 – 2028)
Adult
Pediatric and Adolescent
Geriatric
Telepsychiatry, End Use Outlook (Revenue – USD Million, 2016 – 2028)
Community Mental Health Centers
Specialty Care Settings
Skilled Nursing Facilities
Homecare
Others
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Telepsychiatry, Regional Outlook (Revenue – USD Million, 2016 – 2028)
North America
U.S.
Canada
Europe
France
Germany
UK
Italy
Spain
Netherlands
Austria
Asia Pacific
China
India
Japan
Malaysia
South Korea
Indonesia
Central & South America
Mexico
Brazil
Argentina
Middle East & Africa
UAE
Saudi Arabia
Israel
South Africa
Key questions answered in the global Telepsychiatry market report are:
- How does a global company acquire markets?
- What are its core strategies and policies?
- What factors will influence the Telepsychiatry market over the forecast period?
- What are the factors driving and restraining the market for Telepsychiatry?
- What are the leading competitors in the global market?
- Which region is growing at a higher pace in the global market?
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