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Telepsychiatry is a branch of telemedicine defined by the electronic delivery of psychiatric services to patients. This typically includes providing psychiatric assessments, therapeutic services, and medication management via telecommunication technology, most commonly videoconferencing.
Scope of the Report:
By leveraging the power of technology, telepsychiatry makes behavioral healthcare more accessible to patients, rather than patients having to overcome barriers, like time and cost of travel, to access the care they need. Forensic telepsychiatry is the use of a remote psychiatrist or nurse practitioner for psychiatry in a prison or correctional facility, including psychiatric assessment, medication consultation, suicide watch, pre-parole evaluations and more. Telepsychiatry can deliver significant cost savings to correctional facilities by eliminating the need for prisoners to be escorted to off-site appointments and psychiatric interventions.
The US is the largest telepsychiatry market at present; followed by the EU this is because they have the required technology in place already and also the required funding from the government or private sector. Given the right reimbursement environment, telepsychiatry has the potential to expand exponentially. Once the financial incentives are properly aligned to maximize population level health outcomes, telepsychiatry will undoubtedly flourish.
At present, the market is developing rapidly and the key players include InSight Telepsychiatry, American Telepsychiatrists, Iris Telehealth, JSA Health, Advanced Telemed Services, FasPsych, Genoa, Encounter Telehealth, Arcadian Telepsychiatry, InnovaTel and etc.
The global Telepsychiatry market is valued at 72 million USD in 2018 and is expected to reach 200 million USD by the end of 2024, growing at a CAGR of 23.0% between 2019 and 2024.
The Asia-Pacific will occupy for more market share in following years, especially in China, also fast growing India and Southeast Asia regions.
North America, especially The United States, will still play an important role which cannot be ignored. Any changes from United States might affect the development trend of Telepsychiatry.
Europe also play important roles in global market, with market size of xx million USD in 2019 and will be xx million USD in 2024, with a CAGR of xx%.
This report studies the Telepsychiatry market status and outlook of Global and major regions, from angles of players, countries, product types and end industries; this report analyzes the top players in global market, and splits the Telepsychiatry market by product type and applications/end industries.
Market Segment by Companies, this report covers
- InSight Telepsychiatry
- American Telepsychiatrists
- Iris Telehealth
- JSA Health
- Advanced Telemed Services
- FasPsych
- Genoa
- Encounter Telehealth
- Arcadian Telepsychiatry
- InnovaTel
Market Segment by Regions, regional analysis covers
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Market Segment by Type, covers
- Routine Telepsychiatry
- Forensic Telepsychiatry
- Crisis Telepsychiatry
- In-home Telepsychiatry
Market Segment by Applications, can be divided into
- Adults
- Teenagers
- Geriatric Populations