Telepsychiatry Market Report, By Product (Forensic Solutions, Routine Solutions, In-Home Solutions and Crisis Solutions), End Use (Community Mental Health Centers, Skilled Nursing Facilities, Specialty Care Settings and Hospitals) and Geography (North America, Europe, Asia Pacific and Rest of the World) - Global market share, Trend Analysis and Forecast

Telepsychiatry is mental and social human services conveyed through real time videoconferencing in a protected, private place. It is a safe and viable approach to meet the raising requirement for care, particularly in the wake of the COVID-19 pandemic. Telepsychiatry is extraordinary for permitting more individuals access to social behavioral healthcare. Since there is a significant deficiency of mental health professionals, telepsychiatry makes it simpler for them to see more individuals in more places. Various research studies shows that telepsychiatry is clinically appropriate for almost all patient populaces and has been seen as effective as in-person.

Telepsychiatry Market Driving Factors 

Mental health is a top concern worldwide, as many individuals in the globally are living with mental health disorders. As indicated by Substance Abuse and Mental Health Services Administration, approximately 5% of adults in Idaho have a serious mental health condition and only 48% of them receive any form of treatment from either the public system or private providers.  Moreover, there is a significant shortage of mental health professional, so many seekers are do not receive the treatment they need. Telepsychiatry can allow a doctor to see a larger number of patients quicker, thus utilising their limited time to the fullest.  Besides, improving mobile network infrastructure, enabling doctors to clinically assess and treat patients in small villages and semi-urban areas. This eliminates the need for either the doctor or patient to travel long distances, significantly saving both parties time and money.

COVID 19 Pandemic Impact on Telepsychiatry market

Telehealth adoption has taken off as of late because of the transitory COVID-19 related telehealth adaptabilities extended to healthcare organizations during the public health emergency. With such many people accessing care virtually during this time, telehealth has shown its value as a safe and viable approach to meet the developing requirement for clinical and social medicinal services. Because of the brief approach changes, 46 percent of Americans utilized telehealth to supplant a dropped social insurance visit during the pandemic (contrasted with 11 percent who utilized telehealth administrations in 2019) and 76 percent show they are presently keen on utilizing telehealth pushing ahead. 

Telepsychiatry Market Segmental Overview

The report analyses the global Telepsychiatry market based on product, end-user and geography. 

• The telepsychiatry market by products is categorised into forensic solutions, routine solutions, in-home solutions and crisis solutions. 
• Based on end user, the market for telepsychiatry is segmented into Community Mental Health Centers, Skilled Nursing Facilities, Specialty Care Settings and Hospitals. 
• The telepsychiatry market is studied for the key regions including North America, Europe, Asia Pacific and Rest of the World. The North America region dominated the global Telepsychiatry market owing to the high increasing prevalence of targeted disorders, technological advancements, The growing awareness regrading telemedicine solutions among patient population tare driving the growth of the Telepsychiatry market.

 Telepsychiatry Market Key Players 

Key players in the global telepsychiatry market includes 

• Iris Telehealth
• e-Psychiatry
• InSight Telepsychiatry, LLC
• eVisit, Inc.
• Advanced Telemed Services
• innovaTel Telepsychiatry
• American Telepsychiatrists
• TPsychiatry
• Encounter Telehealth, LLC
• JSA Health Psychiatry 

Telepsychiatry Market Key Development

• March 2020 : USARAD, a global Telepsychiatry company backed by Siemens Healthineers, announced launch a first-of-its-kind screening program to identify patients with COVID-19.This program, which will operate through USARAD’s SecondOpinions.com division, will connect radiologists to other providers. 
• November 2019: American Well acquires Aligned Telehealth to flesh out its behavioral health, telepsychiatry capabilities. The acquisition also gives American Well access to a handful of major provider and payer customers
• October 2019: InSight regroup joins other signatories in urging congress to make telehealth flexibilities permanent.