Telepsychiatry Market expected to reach CAGR Of 21.2% during to forecast. Healthcare Industry 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.
Dallas, United States - July 10, 2019 /MarketersMedia/ —
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.
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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. Telepsychiatry are actually solving the barriers instead of cost adding to services in assisting patients getting medical services at home. There is no need of visiting psychiatrist as large number of people are feeling uncomfortable or are not able to visit psychiatrists.
Many of the research is showing that patients are more comfy on talking to psychiatrists on the electronic media instead of visiting physically. However, telepsychiatry is decreasing the individuals cost of care, where patients are not losing the working hours for childcare or transport on visiting the specialist office.
In the year 2018, global telepsychiatry market size valued at around USD 1,656.1 Mn and is projected to reach the market by around USD 6,380.3 million during the forecast period. However, increase in the tendency of suicide in young adults and teenagers are fueling the demand for treating mental health. However, this is increasing the growth of telepsychiatry industry. Several benefits are offering the telepsychiatry acceptance like enhanced care continuity, follow up, reducing transportation barriers, decreasing delays in care and the potential for avoiding waiting time in hospitals and increase in the growth of telepsychiatry market globally.
Moreover, skilled professionals having potential for treating the mental illness, altering the scenario like addition of reimbursing the codes on telepsychiatry by Medicare. However, it is contributing in increasing the growth of global telepsychiatry market, on facilitating the convenience within psychiatrist and patient. Moreover, telepsychiatry is providing the ease of use of psychiatric assessments and interventions, reducing the stigma related to treating mental health are boosting the growth of global telepsychiatry market in the coming period. Thus, complexity on implementing telepsychiatry, comprising strict rules differing from various region and people where telepsychiatry is not efficient as consultation is negatively affecting the global telepsychiatry market growth.
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Serious shortage of the psychiatric doctors, specifically in adolescent and child psychiatry is the main factor of global telepsychiatry industry. Telepsychiatry is mostly helping the doctors for checking enormous patients very quickly on using their time appropriately. Other factor is the quick improvement in infrastructure of mobile network, allowing doctors for assessing clinically and treats patients in semi-urban areas and small villages.
However, this is removing the requirement for patient or doctor on traveling the long distances, importantly saving money and time. Whereas the rural areas are suffering from shortage of training medical professionals with the serious awareness. Hence, global telepsychiatry market is very important for the psychiatrists searching for the second opinion. Telepsychiatrists are having the benefit of starting the treatment and are sharing the knowledge, where patients are assuring on validating thee doctor’s diagnoses.
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
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Get the access of more information through our blog, white paper and Case study:
1. White Paper: “Major Developments In Telepsychiatry Industry”
Telepsychiatry is proving to be the efficient medium of care for the populations and settings. As per the Veteran’s Affairs Department report, around 728000 individuals are serving and 93% are satisfied with the services of telehealth. Although, services are providing to veterans by telemental health program decreasing the acute psychiatric and the adm
2. Read Blog: “Telepsychiatry – All You Need To Know”
Telepsychiatry helps in creating quality care of mental health that is accessible at any healthcare with the help of internet connection. Rural regions are normally the most underserved in terms of health care and psychiatry as compared to urban regions. By way of eradicating the added spell as well as expense allied with travelling, telepsychiatry enable in making it easier in order to interfere rapidly at the situation of crisis, also to streamline the process of inpatient amenities.
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
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