Adroit Market Research - Industry Insights
Global Telepsychiatry Market Size 2018 By Product (Routine Telepsychiatry, Forensic Telepsychiatry, Crisis Telepsychiatry, In-home Telepsychiatry), By End-User (Adult, Pediatric and Adolescent, Geriatric Population), By Country, and Forecast 2019 to 2025
Jun 2019
Total Pages: 70
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The global telepsychiatry market in 2018 was valued at USD 1,656.1 million and is expected to reach USD 6,380.3 million by 2025. Telepsychiatry is likely to solve actual barriers without adding costs to the services, by helping patients gain medical services at home without physically visiting the psychiatrist as majority of the population feels uncomfortable or is unable in visiting psychiatrists. Research over years has shown that patients are more comfortable talking to the psychiatrists over electronic media rather visiting physically. Telepsychiatry also reduces the cost of care for individuals, as patients do not lose working hours for transport or childcare associated with visiting the office of a specialist.
Lack of access to mental health and substance abuse-related challenges are the major reasons for high incidence of mental health conditions in the U.S. According to the United States Centers for Disease Control and Prevention, approximately 25% of American adults have a mental illness, and nearly 50% of the population has at least one problem at some point in their lives.
In terms of product, routine psychiatry dominated the global market by contributing 64.0% in 2018 and is likely to grow at a CAGR of 22.4% over the study period. Whereas in in-home telepsychiatry is anticipated to emerge as the most lucrative segment in coming years. Rising incidence of schizophrenia as well as large number of patients opting for home based care facilities is one of the major factors for the segment growth in coming years. Based on end-users, pediatric and adolescent segment is expected to grow at a fastest CAGR compared to other age groups on account for the highest depression rates in this age group.
Key segments of the global telepsychiatry market
Product Overview, 2013-2025 (USD Million)
- Routine Telepsychiatry
- Forensic Telepsychiatry
- Crisis Telepsychiatry
- In-home Telepsychiatry
End-User Overview, 2013-2025 (USD Million)
- Adult
- Pediatric and Adolescent
- Geriatric Population
Regional Overview, 2013-2025 (USD Million)
- North America
- U.S.
- Europe
- Asia Pacific
- Japan
- China
- India
- South East Asia
- Rest of the World
Reasons for the study
- High incidence of mental health conditions
- Lack of access to mental health professionals
- Expansion of adoption and reach of telepsychiatry solutions
- With persistent dearth and limited mental health services available throughout the globe, telepsychiatry solutions are likely to continue to flourish
What does the report include?
- Key drivers and restraints associated with the development of telepsychiatry market
- Assessment of various challenges and risks associated with this industry
- Segmentation of telepsychiatry market by product and end-user on global, regional, as well as on country level
- Market estimates for key geographies mentioned in the table of contents
Who should you buy this report?
The market report on telepsychiatry meets the needs of different parties, including government and non-governmental associations, analysts, consultants, academics, and researchers. The study is also appropriate for businesses presently working on the market as well as those interested in integrating their activities into the telemedicine sector. In addition, the research can also assist fresh entrants to make informed business venture choices.
In view of ageing global population, worsening social problems and civil unrest, the number of people with mental disorders is likely to increase further in the near future. This rising burden causes a huge human misery, disability and economic loss that can be minimized by providing affordable telepsychiatric solutions.
|
Parameter |
2018 |
2025 |
|
Global Telepsychiatry Market (US$ million) |
1,656.1 |
6,380.3 |
|
Largest Market Segment, by Product |
Routine Telepsychiatry |
Routine Telepsychiatry |
|
Key Growth Market Segment, by Product |
In-home Telepsychiatry |
|
|
Largest Market Segment, by Application |
Pediatric and adolescent |
Pediatric and adolescent |
|
Key Growth Market Segment, by Application |
Pediatric and adolescent |
|
Adroit Market Research © 2019
Advancement in technology has led to the growth of telemedicine market. For instance, the number of mobile health applications related to mental health services has increased significantly, with recent estimates suggesting that approximately 6% of all mobile health applications developed focus on providing mental health services to users; while an additional 11% of mobile health applications dedicated to providing stress management solutions. In addition, many companies have started to provide so-called "text therapy" services, which allow users to chat with different types of licensed mental health professionals at a flat rate fee.
Telemedicine networks are vulnerable to cyber infringements that pose a huge threat to the C-I-A (confidentiality, integrity and availability) of electronic medical records of patients. Medical records of patients contain very sensitive information that should not be made available to unauthorized persons so as to protect the privacy, integrity and confidentiality of patients. Simultaneously, patient information should be readily available for authentic purposes whenever required by authorized users.
In the recent years, the adoption and reach of telepsychiatry solutions have expanded rapidly. Psychiatrists, like most other medical professionals, have used telephones for years to provide remote care. However this service was usually referred for emergencies only, and consulting a referring physician, or answering patient questions quickly. Now, with the availability of telepsychiatry software that enables video chat, as a convenient treatment option, more psychiatrists are offering patients remote visits.
Routine telepsychiatry not only allows facilities for mental health but also helps in increasing their volume, by outsourcing some routine mental health care to psychiatrists elsewhere. Routine telepsychiatry not only allows facilities for mental health but also helps in increasing their volume, by outsourcing some routine mental health care to psychiatrists elsewhere. Crisis telepsychiatry solutions are useful for mental health crises and emergencies. It helps in providing emergency counseling for people in dire need of care that are violent, suicidal, manic and severely anxious.
In home telepsychiatry offers similar benefits as compared to telemedicine in general. It offers mental health treatments to patients in remote locations and with limited mobility. With the growth of geriatric population, this facility is expected to grow at a significant rate by providing remote therapy to the patients that are unable to travel availing mental healthcare facilities.
In terms of end-users, pediatric and adolescent segment dominated the global telepsychiatry market in 2018 and is projected to retain its dominance over the forecast period. This segment is also anticipated to witness the fastest growth over the forecast period followed by adults segment. For the 20% of the America’s adult population diagnosed with psychiatric disorders, the past two decades have brought new approaches to effective psychotherapies and pharmacotherapies. More people are looking for care, and the Patient Protection and Affordable Care Act has expanded eligibility for mental health services.
Global telepsychiatry market was dominated by Europe in the year 2018 and is expected to show maintain its dominance over the forecast period. However, the U.S. is anticipated to show fastest growth in this industry over the foreseeable future. The main reasons for the high incidence of mental health conditions in the U.S. are a lack of access to mental healthcare and prominent substance abuse-related challenges.
According to the United States CDC, 25% of American adults have a mental illness, and nearly half of the population has at least one problem at some point in their lives. However, the patient population is still riddled with questions such as how effective psychiatric therapy is delivered over a telephone or video conference. Telepsychiatry is clearly beneficial over face-to-face care when it comes to accessing quality care.
Telepsychiatry in Europe has been piloted with a wide range of geographical locations & service models. Professionals have embraced videoconferencing for education, supervision & administration, but are still careful to use it for communicating with service users for clinical tasks. One of the identified problems within EU mental health services is access to mental health care. Increased migration to and within the EU leads to increased demand for skilled clinicians. Telepsychiatry is the most common and oldest application of e-MH (e-mental health). The first international telepsychiatry collaboration between Sweden and Denmark dates back to 2006 & was a huge success.
The others region comprises all the geographies excluded above, such as Latin America, Australia etc. Depression is the most common mental illness in the rest of the world. In LATAM, approximately 5 percent of the adult population suffers from it, but most of them neither seek nor receive the cure, according to the WHO. Key players in this market include InSight Telepsychiatry, American Telepsychiatrists, Iris Telehealth, SOC Telemed, Advanced TeleMed Services, FasPsych, Genoa Healthcare, Encounter Telehealth, Arcadian Telepsychiatry, InnovaTel
The global telepsychiatry market in 2018 was valued at USD 1,656.1 million and is expected to reach USD 6,380.3 million by 2025. Telepsychiatry is likely to solve actual barriers without adding costs to the services, by helping patients gain medical services at home without physically visiting the psychiatrist as majority of the population feels uncomfortable or is unable in visiting psychiatrists. Research over years has shown that patients are more comfortable talking to the psychiatrists over electronic media rather visiting physically. Telepsychiatry also reduces the cost of care for individuals, as patients do not lose working hours for transport or childcare associated with visiting the office of a specialist.
Lack of access to mental health and substance abuse-related challenges are the major reasons for high incidence of mental health conditions in the U.S. According to the United States Centers for Disease Control and Prevention, approximately 25% of American adults have a mental illness, and nearly 50% of the population has at least one problem at some point in their lives.
In terms of product, routine psychiatry dominated the global market by contributing 64.0% in 2018 and is likely to grow at a CAGR of 22.4% over the study period. Whereas in in-home telepsychiatry is anticipated to emerge as the most lucrative segment in coming years. Rising incidence of schizophrenia as well as large number of patients opting for home based care facilities is one of the major factors for the segment growth in coming years. Based on end-users, pediatric and adolescent segment is expected to grow at a fastest CAGR compared to other age groups on account for the highest depression rates in this age group.
Key segments of the global telepsychiatry market
Product Overview, 2013-2025 (USD Million)
- Routine Telepsychiatry
- Forensic Telepsychiatry
- Crisis Telepsychiatry
- In-home Telepsychiatry
End-User Overview, 2013-2025 (USD Million)
- Adult
- Pediatric and Adolescent
- Geriatric Population
Regional Overview, 2013-2025 (USD Million)
- North America
- U.S.
- Europe
- Asia Pacific
- Japan
- China
- India
- South East Asia
- Rest of the World
Reasons for the study
- High incidence of mental health conditions
- Lack of access to mental health professionals
- Expansion of adoption and reach of telepsychiatry solutions
- With persistent dearth and limited mental health services available throughout the globe, telepsychiatry solutions are likely to continue to flourish
What does the report include?
- Key drivers and restraints associated with the development of telepsychiatry market
- Assessment of various challenges and risks associated with this industry
- Segmentation of telepsychiatry market by product and end-user on global, regional, as well as on country level
- Market estimates for key geographies mentioned in the table of contents
Who should you buy this report?
The market report on telepsychiatry meets the needs of different parties, including government and non-governmental associations, analysts, consultants, academics, and researchers. The study is also appropriate for businesses presently working on the market as well as those interested in integrating their activities into the telemedicine sector. In addition, the research can also assist fresh entrants to make informed business venture choices.
Chapter 1. Executive Summary
Chapter 2. Research Methodology
2.1. Stake Holders
2.2. Research Methodology
2.3. Market Size Estimation Methodology
2.4. Forecasting Methodology
2.5. Scope, Definition, and Assumptions
2.6. Assumptions
2.7. Research Sources
2.7.1. Primary Research Sources
2.7.2. Secondary Research Sources
Chapter 3. Market Outlook
3.1. Drivers
3.1.1. High incidence of mental health conditions
3.1.2. Lack of access to mental health professionals
3.1.3. New technology influx to drive growth
3.1.4. Growing suicide cases
3.2. Restraints
3.2.1. Security and privacy concerns in telemedicine
3.3. Challenge and risk
3.3.1. Legal issues and lack of reimbursement
3.3.2. Economic burden of mental disorders
Chapter 4. Global Telepsychiatry Market Overview, By Product
4.1. Global telepsychiatry market share, by Product, 2018 & 2025
4.1.1. Routine Telepsychiatry
4.1.1.1. Market size and projections, 2013-2025
4.1.2. Forensic Telepsychiatry
4.1.2.1. Market size and projections, 2013-2025
4.1.3. Crisis Telepsychiatry
4.1.3.1. Market size and projections, 2013-2025
4.1.4. In-home Telepsychiatry
4.1.4.1. Market size and projections, 2013-2025
Chapter 5. Global Telepsychiatry Market Overview, By End-User
5.1. Global Telepsychiatry market share, by End-User, 2018 & 2025
5.1.1. Adult
5.1.1.1. Market size and projections, 2013-2025
5.1.2. Pediatric and Adolescent
5.1.2.1. Market size and projections, 2013-2025
5.1.3. Geriatric Population
5.1.3.1. Market size and projections, 2013-2025
Chapter 6. Global Telepsychiatry Market Overview, By Region
6.1. Global telepsychiatry market share, by region, 2018 & 2025
6.2. Global
6.2.1. Market size and projections, 2013-2025
6.2.2. Market size and projections, by Product 2013-2025
6.2.3. Market size and projections, by End-User 2013-2025
6.2.4. North America
6.2.4.1. Market size and projections, 2013-2025
6.2.4.2. Market size and projections, by Product, 2013-2025
6.2.4.3. Market size and projections, by End-User, 2013-2025
6.2.4.4. U.S.
6.2.4.4.1. Market size and projections, 2013-2025
6.2.4.4.2. Market size and projections, by Product, 2013-2025
6.2.4.4.3. Market size and projections, by End-User, 2013-2025
6.2.5. Europe
6.2.5.1. Market size and projections, 2013-2025
6.2.5.2. Market size and projections, by Product, 2013-2025
6.2.5.3. Market size and projections, by End-User, 2013-2025
6.2.6. Asia Pacific
6.2.6.1. Market size and projections, 2013-2025
6.2.6.2. Market size and projections, by Product, 2013-2025
6.2.6.3. Market size and projections, by End-User, 2013-2025
6.2.6.4. China
6.2.6.4.1. Market size and projections, 2013-2025
6.2.6.4.2. Market size and projections, by Product, 2013-2025
6.2.6.4.3. Market size and projections, by End-User, 2013-2025
6.2.6.5. Japan
6.2.6.5.1. Market size and projections, 2013-2025
6.2.6.5.2. Market size and projections, by Product, 2013-2025
6.2.6.5.3. Market size and projections, by End-User, 2013-2025
6.2.6.6. India
6.2.6.6.1. Market size and projections, 2013-2025
6.2.6.6.2. Market size and projections, by Product, 2013-2025
6.2.6.6.3. Market size and projections, by End-User, 2013-2025
6.2.6.7. South East Asia
6.2.6.7.1. Market size and projections, 2013-2025
6.2.6.7.2. Market size and projections, by Product, 2013-2025
6.2.6.7.3. Market size and projections, by End-User, 2013-2025
6.2.7. Others
6.2.7.1. Market size and projections, 2013-2025
6.2.7.2. Market size and projections, by Product, 2013-2025
6.2.7.3. Market size and projections, by End-User, 2013-2025
Chapter 7. Company Profiles
7.1. InSight Telepsychiatry
7.1.1. Company overview
7.1.2. Telepsychiatry portfolio
7.1.3. Financial performance
7.1.4. Recent initiatives
7.2. American Telepsychiatrists
7.2.1. Company overview
7.2.2. Telepsychiatry portfolio
7.2.3. Financial performance
7.2.4. Recent initiatives
7.3. Iris Telehealth
7.3.1. Company overview
7.3.2. Telepsychiatry portfolio
7.3.3. Financial performance
7.3.4. Recent initiatives
7.4. SOC Telemed
7.4.1. Company overview
7.4.2. Telepsychiatry portfolio
7.4.3. Financial performance
7.4.4. Recent initiatives
7.5. Advanced TeleMed Services
7.5.1. Company overview
7.5.2. Telepsychiatry portfolio
7.5.3. Financial performance
7.5.4. Recent initiatives
7.6. FasPsych
7.6.1. Company overview
7.6.2. Telepsychiatry portfolio
7.6.3. Financial performance
7.6.4. Recent initiatives
7.7. Genoa Healthcare
7.7.1. Company overview
7.7.2. Telepsychiatry portfolio
7.7.3. Financial performance
7.7.4. Recent initiatives
7.8. Encounter Telehealth
7.8.1. Company overview
7.8.2. Telepsychiatry portfolio
7.8.3. Financial performance
7.8.4. Recent initiatives
7.9. Arcadian Telepsychiatry
7.9.1. Company overview
7.9.2. Telepsychiatry portfolio
7.9.3. Financial performance
7.9.4. Recent initiatives
7.10. InnovaTel
7.10.1. Company overview
7.10.2. Telepsychiatry portfolio
7.10.3. Financial performance
7.10.4. Recent initiatives