According to a new report Global Telepsychiatry Market, published by KBV research, The Global Telepsychiatry Market size is expected to reach $15.2 billion by 2026, rising at a market growth of 19.4% CAGR during the forecast period.
The In-home Solutions market dominated the Global Telepsychiatry Market by Product in 2019. The crisis solution segment is gaining popularity due to the COVID-19 pandemic as many people are facing mental health disorders during staying at home. Many players are providing free service during this public health emergency which is expected to increase the adoption. Moreover, adults are also getting more familiar with the use of smartphones and online services and it is fueling the demand in the market.
The Community Mental Health Centers market dominated the Global Telepsychiatry Market by Application in 2019, thereby, achieving a market value of $4,209.3 million by 2026. Due to COVID-19, there are possibilities that the Homecare segment will be the fastest-growing sub-segment in the estimated period. As these services are easy to use from the home, the increasing use of smartphones and the governments of many countries are also supporting the telepsychiatry services in their countries, therefore, attributing the growth of the market.
The North America market dominated the Global Routine Solution Market by Region in 2019, growing at a CAGR of 19.5 % during the forecast period. The Europe market experiencing a CAGR of 19.9% during (2020 - 2026). Additionally, The Asia Pacific market is poised to grow at a CAGR of 21.8% during (2020 - 2026).
Structural Insights: https://www.kbvresearch.com/telepsychiatry-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of E-Psychiatry LLC, Advanced TeleMed Services, Inc., American Telepsychiatrists, Iris Healthcare, Inc., Encounter Telehealth, LLC, FasPsych, LLC (Pharos Capital Group, LLC), MDLive, Inc., InnovaTel Telepsychiatry, LLC, MYnd Analytics, Inc. (Arcadian Telepsychiatry), and SOC Telemed, Inc.
Global Telepsychiatry Market Segmentation
- In-home Solutions
- Crisis Solution
- Routine Solution
- Forensic Solution
- Other Products
- Community Mental Health Centers
- Skilled Nursing Facilities
- Specialty Care Settings
By Age Group
- Pediatric & Adolescent
- Rest of North America
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
- E-Psychiatry LLC
- Advanced TeleMed Services, Inc.
- American Telepsychiatrists
- Iris Healthcare, Inc.
- Encounter Telehealth, LLC
- FasPsych, LLC (Pharos Capital Group, LLC)
- MDLive, Inc.
- InnovaTel Telepsychiatry, LLC
- MYnd Analytics, Inc. (Arcadian Telepsychiatry)
- SOC Telemed, Inc.
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AUTOR: KBV Research