Dublin, Oct. 23, 2020 (GLOBE NEWSWIRE) -- The "Telepsychiatry - Global Market Outlook (2019-2027)" report has been added to ResearchAndMarkets.com's offering.
Global Telepsychiatry Market accounted for $5.82 billion in 2019 and is expected to reach $30.34 billion by 2027, growing at a CAGR of 22.9% during the forecast period.
While factors like increasing suicidal deaths, and rising incidence of mental health disorders are driving the growth of the market. However, reimbursement challenges & licensure, and privacy & confidentiality are hampering the market growth.
The telepsychiatry services help in providing affordable, convenient, and readily-accessible mental health services. Telepsychiatry, a subset of telemedicine, can involve providing a range of services including psychiatric evaluations, therapy (individual therapy, group therapy, family therapy), patient education, and medication management. It provides a practical and effective alternative to in-person psychiatric services. Psychiatrists are adopting telepsychiatry to provide treatment to those in rural and geographically isolated areas.
Based on the age group, the adult segment is going to have a lucrative growth owing to an increasing level of depression and anxiety which is increasing demand for virtual consultation in this age group. Furthermore, adults are very much accustomed to using smartphones and online services, which are further fueling the demand.
By geography, North America is estimated to have a huge demand in the forecast period due to increasing adoption of telepsychiatry technology, an increase in smartphone penetration, and favourable reimbursement policies.
Some of the key players profiled in the Telepsychiatry Market include Advanced Telemed Services, American Telepsychiatrists, Encounter Telehealth, LLC, e-Psychiatry, innovaTel Telepsychiatry, InSight Telepsychiatry, Iris Telehealth, MDLIVE Inc., SOC Telemed, and Telemynd.
What the report offers:
Market share assessments for the regional and country-level segments
Strategic recommendations for the new entrants
Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and Recommendations)
Strategic recommendations in key business segments based on the market estimations
Competitive landscaping mapping the key common trends
Company profiling with detailed strategies, financials, and recent developments
Supply chain trends mapping the latest technological advancements
Key Topics Covered:
1 Executive Summary
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.5 Research Sources
3 Market Trend Analysis
3.6 Product Analysis
3.7 End-user Analysis
3.8 Emerging Markets
3.9 Impact of COVID-19
4 Porters Five Forces Analysis
4.1 Bargaining Power of Suppliers
4.2 Bargaining Power of Buyers
4.3 Threat of Substitutes
4.4 Threat of New Entrants
4.5 Competitive Rivalry
5 Global Telepsychiatry Market, By Age Group
5.4 Pediatric and Adolescent
6 Global Telepsychiatry Market, By Product Type
6.2 Crisis Telepsychiatry
6.3 Forensic Telepsychiatry
6.4 In-Home Telepsychiatry
6.5 Routine Telepsychiatry
7 Global Telepsychiatry Market, By End-user
7.2 Community Mental Health Centers
7.4 Skilled Nursing Facilities
7.5 Specialty Care Settings
8 Global Telepsychiatry Market, By Geography
9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launches
9.5 Other Key Strategies
10 Company Profiling
10.1 Advanced Telemed Services
10.2 American Telepsychiatrists
10.3 Encounter Telehealth, LLC
10.5 innovaTel Telepsychiatry
10.6 InSight Telepsychiatry
10.7 Iris Telehealth
10.8 MDLIVE Inc.
10.9 SOC Telemed
For more information about this report visit https://www.researchandmarkets.com/r/70zg01
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