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Global Telepsychiatry Market Growth (Status and Outlook) 2019-2024
SKU ID : LPI-13851538 | Publishing Date : 13-Feb-2019 | No. of pages : 118
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.
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.
According to this study, over the next five years the Telepsychiatry market will register a 23.0% CAGR in terms of revenue, the global market size will reach US$ 200 million by 2024, from US$ 72 million in 2019. In particular, this report presents the global revenue market share of key companies in Telepsychiatry business, shared in Chapter 3.
This report presents a comprehensive overview, market shares and growth opportunities of Telepsychiatry market by product type, application, key companies and key regions.
This study considers the Telepsychiatry value generated from the sales of the following segments:
Segmentation by product type: breakdown data from 2014 to 2019 in Section 2.3; and forecast to 2024 in section 10.7.
Routine Telepsychiatry
Forensic Telepsychiatry
In-home Telepsychiatry
Segmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 10.8.
Adults
Teenagers
Geriatric Populations
This report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Spain
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report: Breakdown data in in Chapter 3.
InSight Telepsychiatry
American Telepsychiatrists
Iris Telehealth
JSA Health
Advanced Telemed Services
FasPsych
Genoa
Encounter Telehealth
Arcadian Telepsychiatry
InnovaTel
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key players and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
Research objectives
To study and analyze the global Telepsychiatry market size by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
To understand the structure of Telepsychiatry market by identifying its various subsegments.
Focuses on the key global Telepsychiatry players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Telepsychiatry with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the size of Telepsychiatry submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.
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.
According to this study, over the next five years the Telepsychiatry market will register a 23.0% CAGR in terms of revenue, the global market size will reach US$ 200 million by 2024, from US$ 72 million in 2019. In particular, this report presents the global revenue market share of key companies in Telepsychiatry business, shared in Chapter 3.
This report presents a comprehensive overview, market shares and growth opportunities of Telepsychiatry market by product type, application, key companies and key regions.
This study considers the Telepsychiatry value generated from the sales of the following segments:
Segmentation by product type: breakdown data from 2014 to 2019 in Section 2.3; and forecast to 2024 in section 10.7.
Routine Telepsychiatry
Forensic Telepsychiatry
In-home Telepsychiatry
Segmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 10.8.
Adults
Teenagers
Geriatric Populations
This report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Spain
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report: Breakdown data in in Chapter 3.
InSight Telepsychiatry
American Telepsychiatrists
Iris Telehealth
JSA Health
Advanced Telemed Services
FasPsych
Genoa
Encounter Telehealth
Arcadian Telepsychiatry
InnovaTel
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key players and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
Research objectives
To study and analyze the global Telepsychiatry market size by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
To understand the structure of Telepsychiatry market by identifying its various subsegments.
Focuses on the key global Telepsychiatry players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Telepsychiatry with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the size of Telepsychiatry submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
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