Stratview Research has published a new report titled “Telepsychiatry Market” which is segmented By Product (In-home solutions, Forensic solutions, Routine solutions, Crisis solutions, Others), By Age group (Adult, Paediatric and Adolescent, Geriatric), By End-Use (Community Mental Health Centers, Specialty Care Settings, Skilled Nursing Facilities, Homecare, Others) and Region.

As per the study, the Global Telepsychiatry Market is projected to grow from USD 5.74 billion in 2020 to USD 21.36 billion by 2026 at a CAGR of over 24.5% during the forecast period.

Report Highlights

This report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can affect the market dynamics of the industry. It provides thorough analysis of the market segments which include products, applications, and competitor analysis.

The market is bifurcated into various segments. Below given is the segment-wise analysis -

By product, the telepsychiatry market has been segmented into in-home solutions, forensic solutions, routine solutions, crisis solutions, and others. Under these, the in-home solutions segment witnessed the largest market share in 2020 and is likely to register the fastest CAGR in the following years.

This is mainly attributed to the rising preference for telepsychiatry treatment at home. Moreover, an in-home solution saves valuable traveling time as there is no need to travel to the clinic.

By region, the market in North America garnered the highest market share of almost 40% in 2020 and is projected to grow at a steady CAGR during the assessment period. This is mainly attributed to favourable reimbursement policies, the surge in smartphone penetration, and the presence of many industry players, which further augments the regional growth. In addition, the pandemic has driven the regional demand for telepsychiatry due to lockdown.

Who are the Key Players in the Market?

This report provides market intelligence in the most comprehensive way. It also provides critical insights into the key players active in the market, that will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key players activen in the Telepsychiatry Market:

·         InSight Telepsychiatry (The U.S),

·         TELEMYND (The U.S),

·         e-Psychiatry (The U.S),

·         Advanced Telemed Services (The U.S),

·         American Telepsychiatrists (The U.S),

·         Iris Telehealth (The U.S),

·         MDLIVE Inc. (The U.S),

·         innovaTel Telepsychiatry (The U.S),

·         SOC Telemed (The U.S), and

·         Encounter Telehealth, LLC (The U.S).

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