U.S (New York) – New research study titled “Telepsychiatry Market” for the year 2023, encompassing various aspects such as industry size, market share, growth analysis, segmentation, leading manufacturers and innovations, key trends, market drivers, restraints, regulatory framework, distribution methods, opportunities, strategies, potential roadmap, and annual forecasts until 2031. The primary objective of this market research study is to thoroughly examine the industry, enabling businesses to gain comprehensive insights into the sector and its economic potential. By leveraging accurate statistical research data provided by Report Ocean 2023 to 2031, your business can experience accelerated growth.
Telepsychiatry Market is valued at approximately USD $ million in 2019 and is anticipated to grow with a healthy growth rate of more than $ over the forecast period 2020-2027. Telepsychiatry is the application of telemedicine, which offers a wide range of mental health solutions, such as therapies (i.e. family therapy, group therapy, and individual therapy), psychiatric evaluation, patient education, and medication management. Telepsychiatry involves direct communication among the patient and the psychiatrist. It also includes psychiatrist assisting primary health care providers specified in mental health care consultation. It can also record the medical information (such as images, videos, etc.) and delivering this to a remote site for later evaluation.
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Therefore, these factors are anticipated to accelerate market growth around the world. Moreover, an increasing number of patients with mental illness, anxiety, and stress, along with a growing number and tendency of suicides among people are few other factors responsible for the market growth over the forecast period. For instance, according to the National Alliance on Mental Illness, in 2018, 43.3% of US citizens treated for mental illness. Among them, over 20% of youth aged 13-18 years with mental health conditions, and more than 11% of the youth have a mood disorder, and around 18.1% of adults suffering from anxiety disorders.
This, in turn, is expected to raise the demand for telepsychiatry all over the world. Recently, the COVID-19 is widely spread throughout the world, thus various regional governments are putting temporary restrictions on the movement of goods, services, and people to prevent the spread of novel coronavirus. This has shifted the preference of people for online health services instead of regular physician visits. Therefore, the virtual care delivery solution is gaining immense popularity for mental health care consultations during the pandemic, thereby, the telepsychiatry market is expected to grow at a significant rate in the forthcoming years. However, dearth of skilled psychiatrists and unfavorable reimbursement scenarios are the major factors impeding the market growth over the forecast period of 2020-2027.
The regional analysis of the global Telepsychiatry market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the presence of favorable reimbursement policies, along with the high availability of new technology-based solution vendors in the region. Whereas, Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the increasing number of suicidal cases and improving healthcare infrastructure would create lucrative growth prospects for the Telepsychiatry market across the Asia-Pacific region.
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Major market player included in this report are:
InSight Telepsychiatry, LLC
Arcadian Telepsychiatry, LLC
Iris Telehealth
Advanced Telemed Services
American Telepsychiatrists
Encounter Telehealth
e-Psychiatry, LLC
InnovaTel Telepsychiatry
JSA Health Telepsychiatry, LLC
FasPsych, LLC
By Product:
In-Home Solutions
Forensic Solutions
By End-Use:
Hospitals
Community Mental Health Centers
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Some of the Key Questions Answered in this Report:
- What is the Market dimension at the regional and country-level?
- What are the key drivers, restraints, opportunities, and challenges of the Market, and how they are anticipated to influence the market?
- What is the international (North America, Europe, Asia-Pacific, South America, Middle East and Africa) income value, manufacturing value, consumption value, import and export of Market?
- Who are the world key producers of the Market Industry? How is their working state of affairs (capacity, production, sales, price, cost, gross, and revenue)?
- What are the Market possibilities and threats confronted via the carriers in the world Market Industry?
- Which application/end-user or product kind may also be seeking for incremental boom prospects? What is the market share of every kind and application?
- What targeted method and constraints are keeping the Market?
- What are the distinct sales, marketing, and distribution channels in the world industry?
- What are the upstream uncooked substances and manufacturing gear of Market alongside with the manufacturing technique of Market?
- What are the key market tendencies impacting the increase of the Market?
- Economic have an impact on the Market enterprise and improvement vogue of the Market industry.
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