The Telepsychiatry Global Market Report 2023, provides comprehensive information on the telepsychiatry market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Telepsychiatry Global Market Report 2023, the market size is expected to grow from $7.7 billion in 2022 to $9.78 billion in 2023 at a compound annual growth rate (CAGR) of 27.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The telepsychiatry market size is expected to grow to $22.52 billion in 2027 at a CAGR of 23.2%.
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Technological advancements are key trends gaining popularity in the telepsychiatry market. Major companies operating in the telepsychiatry market are focused on developing new technological solutions to strengthen their position. For instance, in December 2021, Zoom Video Communications Inc., a US-based communications technology company, along with Cerner Corp.’s electronic health record platform and a US-based company that provides telepsychiatry, launched an integration option for facilitating easier access to telehealth within Cerner’s EHR. This includes the in-chart notifications when the patient has entered the appointment waiting room and the ability to send an invite link to additional participants, like family members, interpreters, and other care providers, and is accessible to join the session.
The telepsychiatry market is segmented:
1) By Type: Routine Telepsychiatry, Forensic Telepsychiatry, Crisis Telepsychiatry, In-Home Telepsychiatry
2) By Age Group: Adult, Pediatric and Adolescent, Geriatric
3) By End-Use: Community Mental Health Centers, Specialty Care Settings, Skilled Nursing Facilities, Homecare, Other End-Users
North America was the largest region in the telepsychiatry market in 2022.
The table of contents in TBRC’s telepsychiatry market report includes:
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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