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Global Telepsychiatry Market Size, Share, Analysis, Forecast: By Services Type: In-home Solutions, Forensic Solutions, Routine Solutions, Crisis Solution, Others; By Mode of Communication: Videoconferencing, Store-and-Forward, Remote Patient Monitoring; By End User: Regional Analysis; Market Dynamics; Supplier Landscape; 2024-2032
Global Telepsychiatry Market Outlook
The global telepsychiatry market size was valued at USD 11.8 billion in 2023, driven by the rising prevalence of mobile health technologies across the globe. The market is expected to grow at a CAGR of 23.03% during the forecast period of 2024-2032, with the values likely to rise from USD 14.5 billion in 2024 to USD 75.9 billion by 2032.
Telepsychiatry: Introduction
Telepsychiatry is the process of providing mental health consultations from a certified psychiatrist to patients with the help of distance technology, such as video conferencing. It involves several services such as individual or group therapy, medication management, psychiatric evaluations as well as patient education. Telepsychiatry can be video and audio-based, depending on the patient’s convenience. It is an effective way to reduce mental health associated stigma and logistic delays in treatment.
Global Telepsychiatry Market Analysis
The telepsychiatry market demand observed a significant upswing owing to sudden COVID-19 outbreak. Staff shortage, quarantine, and isolation propelled people to consider video consultations for medical assistance. It enabled shorter waiting periods and easy access to skilled mental health professionals.
With the rising prevalence of artificial intelligence and healthcare convergence, the market has flourished with AI and digitally equipped healthcare platforms. These platforms help the user create customized and comprehensive physical and mental health profiles. In April 2023, an artificial intelligence powered and blockchain ecosystem supplier called Oraichain, launched a healthcare platform called BlockAI.care, to promote telepsychiatry services.
The telepsychiatry market value is driven by the increasing investments in telehealth services. In June 2023, CQuence Health announced an investment partnership with Intercept Telehealth, which is a leading tele-critical care provider. Together, they aim at addressing serious neurological conditions by offering consultations on tele-neurology, tele-stroke and more. It also allows continuous access to certified intensivists and critical care nurses to facilitate early intervention and constant virtual monitoring.
Global Telepsychiatry Market Segmentation
Market Breakup by Services Type
- In-home Solutions
- Forensic Solutions
- Routine Solutions
- Crisis Solution
- Others
Market Breakup by Mode of Communication
- Videoconferencing
- Store-and-Forward
- Remote Patient Monitoring
Market Breakup by End User
- Community Mental Health Centers
- Specialty Care Settings
- Skilled Nursing Facilities
- Homecare
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Global Telepsychiatry Market Overview
The United States is anticipated to lead the telepsychiatry market share with a robust and technologically advanced healthcare ecosystem. The region is experiencing a noteworthy surge in digital health-based services attributed to growing profile expansions of new companies. There is significant focus on upskilling the staff to use all the latest technologies in the market. Europe is another major market for telepsychiatry with a considerable amount of trained mental health care providers, psychiatrists, and psychologists in the region.
The Asia-Pacific is expected to witness substantial telepsychiatry market growth with rising infrastructure development to integrate digital advancements into the medical ecosystem. Increasing government and non-profit organization efforts to reduce mental health stigma is a significant factor fueling market growth in the region.
Telepsychiatry is also undergoing major developments in Middle East South Africa and Latin America. In January 2023, a United States based telehealth leader, Caregility set up their services in Saudi Arabia. In South Africa, Eagle Intelligent Health and Mobicel partnered to provide live consultation to patients via Eagle Intelligent Health app. With rising adoption of telehealth and telepsychiatry services, the market value is expected to rise exponentially in the forecast period.
Global Telepsychiatry Market: Competitor Landscape
The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:
- Telehealth
- Epsychiatry Pty. Ltd.
- CB Information Services, Inc.
- eVisit
- Advanced TeleMed Service
- innovaTel
- American Telepsychiatrists
- Encounter Telepsychiatry
- JSA Health Telepsychiatry, LLC
- Arcadian Telepsychiatry, LLC
- Genoa
- FasPsych, LLC
- General Electric
- TeleSpecialists
- Chiron Health
- Zipnosis
- Medtronic
- Iris Telehealth Inc.
- MDLIVE
- SOC Telemed
Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Services Type |
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| Breakup by Mode of Communication |
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| Breakup by End User |
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| Breakup by Region |
|
| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
1.1 Objectives of the Study
1.2 Key Assumptions
1.3 Report Coverage – Key Segmentation and Scope
1.4 Research Methodology
2 Executive Summary
3 Global Telepsychiatry Market Overview
3.1 Global Telepsychiatry Market Historical Value (2017-2023)
3.2 Global Telepsychiatry Market Forecast Value (2024-2032)
4 Global Telepsychiatry Market Landscape
4.1 Global Telepsychiatry Developers Landscape
4.1.1 Analysis by Year of Establishment
4.1.2 Analysis by Company Size
4.1.3 Analysis by Region
4.2 Global Telepsychiatry Product Landscape
4.2.1 Analysis by Type
4.2.2 Analysis by Technology
4.2.3 Analysis by Applications
5 Global Telepsychiatry Market Dynamics
5.1 Market Drivers and Constraints
5.2 SWOT Analysis
5.3 Porter’s Five Forces Model
5.4 Key Demand Indicators
5.5 Key Price Indicators
5.6 Industry Events, Initiatives, and Trends
5.7 Value Chain Analysis
6 Global Telepsychiatry Market Segmentation
6.1 Global Telepsychiatry Market by Services Type
6.1.1 Market Overview
6.1.2 In-home Solutions
6.1.3 Forensic Solutions
6.1.4 Routine Solutions
6.1.5 Crisis Solution
6.1.6 Others
6.2 Global Telepsychiatry Market by Mode of Communication
6.2.1 Market Overview
6.2.2 Videoconferencing
6.2.3 Store-and-Forward
6.2.4 Remote Patient Monitoring
6.3 Global Telepsychiatry Market by End User
6.3.1 Market Overview
6.3.2 Community Mental Health Centers
6.3.3 Specialty Care Settings
6.3.4 Skilled Nursing Facilities
6.3.5 Homecare
6.3.6 Others
6.4 Global Telepsychiatry Market by Region
6.4.1 Market Overview
6.4.2 North America
6.4.3 Europe
6.4.4 Asia Pacific
6.4.5 Latin America
6.4.6 Middle East and Africa
7 North America Telepsychiatry Market
7.1 Market Share by Country
7.2 United States of America
7.3 Canada
8 Europe Telepsychiatry Market
8.1 Market Share by Country
8.2 United Kingdom
8.3 Germany
8.4 France
8.5 Italy
8.6 Others
9 Asia Pacific Telepsychiatry Market
9.1 Market Share by Country
9.2 China
9.3 Japan
9.4 India
9.5 ASEAN
9.6 Australia
9.7 Others
10 Latin America Telepsychiatry Market
10.1 Market Share by Country
10.2 Brazil
10.3 Argentina
10.4 Mexico
10.5 Others
11 Middle East and Africa Telepsychiatry Market
11.1 Market Share by Country
11.2 Saudi Arabia
11.3 United Arab Emirates
11.4 Nigeria
11.5 South Africa
11.6 Others
12 Patent Analysis
12.1 Analysis by Type of Patent
12.2 Analysis by Publication year
12.3 Analysis by Issuing Authority
12.4 Analysis by Patent Age
12.5 Analysis by CPC Analysis
12.6 Analysis by Patent Valuation
12.7 Analysis by Key Players
13 Grants Analysis
13.1 Analysis by year
13.2 Analysis by Amount Awarded
13.3 Analysis by Issuing Authority
13.4 Analysis by Grant Application
13.5 Analysis by Funding Institute
13.6 Analysis by NIH Departments
13.7 Analysis by Recipient Organization
14 Funding Analysis
14.1 Analysis by Funding Instances
14.2 Analysis by Type of Funding
14.3 Analysis by Funding Amount
14.4 Analysis by Leading Players
14.5 Analysis by Leading Investors
14.6 Analysis by Geography
15 Partnership and Collaborations Analysis
15.1 Analysis by Partnership Instances
15.2 Analysis by Type of Partnership
15.3 Analysis by Leading Players
15.4 Analysis by Geography
16 Regulatory Framework
16.1 Regulatory Overview
16.1.1 US FDA
16.1.2 EU EMA
16.1.3 INDIA CDSCO
16.1.4 JAPAN PMDA
16.1.5 Others
17 Supplier Landscape
17.1 Telehealth
17.1.1 Financial Analysis
17.1.2 Product Portfolio
17.1.3 Demographic Reach and Achievements
17.1.4 Mergers and Acquisition
17.1.5 Certifications
17.2 Epsychiatry Pty. Ltd.
17.2.1 Financial Analysis
17.2.2 Product Portfolio
17.2.3 Demographic Reach and Achievements
17.2.4 Mergers and Acquisition
17.2.5 Certifications
17.3 CB Information Services, Inc.
17.3.1 Financial Analysis
17.3.2 Product Portfolio
17.3.3 Demographic Reach and Achievements
17.3.4 Mergers and Acquisition
17.3.5 Certifications
17.4 eVisit
17.4.1 Financial Analysis
17.4.2 Product Portfolio
17.4.3 Demographic Reach and Achievements
17.4.4 Mergers and Acquisition
17.4.5 Certifications
17.5 Advanced TeleMed Service
17.5.1 Financial Analysis
17.5.2 Product Portfolio
17.5.3 Demographic Reach and Achievements
17.5.4 Mergers and Acquisition
17.5.5 Certifications
17.6 innovaTel
17.6.1 Financial Analysis
17.6.2 Product Portfolio
17.6.3 Demographic Reach and Achievements
17.6.4 Mergers and Acquisition
17.6.5 Certifications
17.7 American Telepsychiatrists
17.7.1 Financial Analysis
17.7.2 Product Portfolio
17.7.3 Demographic Reach and Achievements
17.7.4 Mergers and Acquisition
17.7.5 Certifications
17.8 Encounter Telepsychiatry
17.8.1 Financial Analysis
17.8.2 Product Portfolio
17.8.3 Demographic Reach and Achievements
17.8.4 Mergers and Acquisition
17.8.5 Certifications
17.9 JSA Health Telepsychiatry, LLC
17.9.1 Financial Analysis
17.9.2 Product Portfolio
17.9.3 Demographic Reach and Achievements
17.9.4 Mergers and Acquisition
17.9.5 Certifications
17.10 Arcadian Telepsychiatry, LLC
17.10.1 Financial Analysis
17.10.2 Product Portfolio
17.10.3 Demographic Reach and Achievements
17.10.4 Mergers and Acquisition
17.10.5 Certifications
17.11 Genoa
17.11.1 Financial Analysis
17.11.2 Product Portfolio
17.11.3 Demographic Reach and Achievements
17.11.4 Mergers and Acquisition
17.11.5 Certifications
17.12 FasPsych, LLC
17.12.1 Financial Analysis
17.12.2 Product Portfolio
17.12.3 Demographic Reach and Achievements
17.12.4 Mergers and Acquisition
17.12.5 Certifications
17.13 General Electric
17.13.1 Financial Analysis
17.13.2 Product Portfolio
17.13.3 Demographic Reach and Achievements
17.13.4 Mergers and Acquisition
17.13.5 Certifications
17.14 TeleSpecialists
17.14.1 Financial Analysis
17.14.2 Product Portfolio
17.14.3 Demographic Reach and Achievements
17.14.4 Mergers and Acquisition
17.14.5 Certifications
17.15 Chiron Health
17.15.1 Financial Analysis
17.15.2 Product Portfolio
17.15.3 Demographic Reach and Achievements
17.15.4 Mergers and Acquisition
17.15.5 Certifications
17.16 Zipnosis
17.16.1 Financial Analysis
17.16.2 Product Portfolio
17.16.3 Demographic Reach and Achievements
17.16.4 Mergers and Acquisition
17.16.5 Certifications
17.17 Medtronic
17.17.1 Financial Analysis
17.17.2 Product Portfolio
17.17.3 Demographic Reach and Achievements
17.17.4 Mergers and Acquisition
17.17.5 Certifications
17.18 Iris Telehealth Inc.
17.18.1 Financial Analysis
17.18.2 Product Portfolio
17.18.3 Demographic Reach and Achievements
17.18.4 Mergers and Acquisition
17.18.5 Certifications
17.19 MDLIVE
17.19.1 Financial Analysis
17.19.2 Product Portfolio
17.19.3 Demographic Reach and Achievements
17.19.4 Mergers and Acquisition
17.19.5 Certifications
17.20 SOC Telemed
17.20.1 Financial Analysis
17.20.2 Product Portfolio
17.20.3 Demographic Reach and Achievements
17.20.4 Mergers and Acquisition
17.20.5 Certifications
18 Global Telepsychiatry Market - Distribution Model (Additional Insight)
18.1 Overview
18.2 Potential Distributors
18.3 Key Parameters for Distribution Partner Assessment
19 Key Opinion Leaders (KOL) Insights (Additional Insight)
20 Company Competitiveness Analysis (Additional Insight)
20.1 Very Small Companies
20.2 Small Companies
20.3 Mid-Sized Companies
20.4 Large Companies
20.5 Very Large Companies
21 Payment Methods (Additional Insight)
21.1 Government Funded
21.2 Private Insurance
21.3 Out-of-Pocket
*Additional insights provided are customisable as per client requirements.
Key Questions Answered in the Report
The market attained a value of about USD 11.8 billion in 2023, driven by the increasing prevalence of mobile health across the globe.
The market is anticipated to grow at a CAGR of 23.03% during the forecast period of 2024-2032, likely to reach a market value of USD 75.9 billion by 2032.
The rising prevalence of mental health disorders, triggered by the stressful lifestyles and unhealthy lifestyles, has propelled the demand for telepsychiatry services.
The major market trend involves the growing integration of artificial intelligence tools in telepsychiatry platforms. In April 2023, BlockAI.Care launched an artificial intelligence powered mobile health tracking platform.
Based on service types, the market is divided into in-home solutions, forensic solutions, routine solutions, and crisis solution, among others.
Major end users include community mental health centres, specialty care settings, skilled nursing facilities, and homecare, among others.
Videoconferencing, store-and-forward and remote patient monitoring are common technologies available in the market.
The major regions of the market include North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America is currently leading the global market.
Key players involved in the market are Telehealth, Epsychiatry Pty. Ltd., CB Information Services, Inc., eVisit, Advanced TeleMed Service, innovate, American Telepsychiatrists, Encounter Telepsychiatry, JSA Health Telepsychiatry, LLC., Arcadian Telepsychiatry, LLC, Genoa, FasPsych, LLC., General Electric, TeleSpecialists, Chiron Health, Zipnosis, Medtronic, Iris Telehealth Inc., MDLIVE and SOC Telemed.
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