The global telepsychiatry market accounted for USD 8.10 billion in 2023 and is expected to reach USD 60.94 billion by 2034 with a CAGR of 20.14% during the forecast period 2024-2034. The market will grow as a result of rising awareness of mental health issues, technological advancements, notably in digital health and telecommunications, a shortage of psychiatrists, and regulatory support.
The demand for mental health services is rising in tandem with the global increase in mental health awareness. To satisfy this demand, telepsychiatry offers a simple and easy way for people to get mental health treatment. Through the use of telepsychiatry systems, individuals can communicate with psychiatrists from anywhere in the world, lowering access barriers and guaranteeing prompt interventions. For instance, in March 2024, Teladoc Health announced the acquisition of InTouch Health, a major provider of enterprise telehealth solutions, to expand its virtual care delivery capabilities.
By product, the in-home solutions segment accounted for the highest revenue-grossing segment in the global telepsychiatry market in 2023 owing to the increased preference for convenient and personalized mental health care options, especially amidst the COVID-19 pandemic, which heightened the demand for remote and accessible psychiatric services. For instance, in January 2024, American Well Corporation collaborated with Google Cloud to upgrade its telehealth platform with enhanced artificial intelligence (AI) and machine learning (ML) capabilities. Additionally, the forensic telepsychiatry segment is predicted to grow at the fastest CAGR during the forecast period owing to the rising awareness of the importance of mental health evaluations in legal proceedings and the increasing adoption of telepsychiatry solutions by law enforcement agencies and correctional facilities to improve access to psychiatric assessments for inmates and individuals involved in legal matters.
By age group, the adult segment accounted for the highest revenue-grossing segment in the global telepsychiatry market in 2023 and is predicted to grow at the fastest CAGR during the forecast period owing to the growing prevalence of mental health disorders among the adult population worldwide, coupled with increasing acceptance and utilization of telepsychiatry services by adults seeking convenient and accessible mental health care solutions. For instance, in November 2023, MDLIVE Inc. released MDLIVE Behavioral Health, a new mental health platform that provides on-demand access to psychiatrists, therapists, and counselors.
By end-user, the community mental health centers segment accounted for the highest revenue-grossing segment in the global telepsychiatry market in 2023 owing to the growing recognition of the importance of community-based mental health services and the adoption of telepsychiatry as a cost-effective and accessible solution for delivering psychiatric care to underserved communities. For instance, in October 2023, BetterHelp added additional features to its teletherapy platform, such as group therapy sessions and enhanced user experience. Additionally, the homecare segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing preference for home-based healthcare solutions among patients, advancements in remote monitoring technology, and the growing elderly population requiring long-term mental health support in the comfort of their homes.
North American region is anticipated to have the highest revenue share during the forecast period owing to the robust healthcare infrastructure, favorable reimbursement policies, increasing adoption of telehealth technologies, and growing awareness of mental health issues driving demand for telepsychiatry services in the region. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the expanding population, rising awareness of mental health issues, increasing investment in healthcare infrastructure, and growing adoption of telepsychiatry solutions to address the mental health needs of a diverse and geographically dispersed population. For instance, iCliniq extended its telemedicine services in January 2024 to include mental health consultations, providing patients with online access to licensed psychologists and psychiatrists.
This extensive research report concentrates on the size and projections of the global and regional markets from 2023 to 2034.
The demand for mental health services is rising in tandem with the global increase in mental health awareness. To satisfy this demand, telepsychiatry offers a simple and easy way for people to get mental health treatment. Through the use of telepsychiatry systems, individuals can communicate with psychiatrists from anywhere in the world, lowering access barriers and guaranteeing prompt interventions. For instance, in March 2024, Teladoc Health announced the acquisition of InTouch Health, a major provider of enterprise telehealth solutions, to expand its virtual care delivery capabilities.
By product, the in-home solutions segment accounted for the highest revenue-grossing segment in the global telepsychiatry market in 2023 owing to the increased preference for convenient and personalized mental health care options, especially amidst the COVID-19 pandemic, which heightened the demand for remote and accessible psychiatric services. For instance, in January 2024, American Well Corporation collaborated with Google Cloud to upgrade its telehealth platform with enhanced artificial intelligence (AI) and machine learning (ML) capabilities. Additionally, the forensic telepsychiatry segment is predicted to grow at the fastest CAGR during the forecast period owing to the rising awareness of the importance of mental health evaluations in legal proceedings and the increasing adoption of telepsychiatry solutions by law enforcement agencies and correctional facilities to improve access to psychiatric assessments for inmates and individuals involved in legal matters.
By age group, the adult segment accounted for the highest revenue-grossing segment in the global telepsychiatry market in 2023 and is predicted to grow at the fastest CAGR during the forecast period owing to the growing prevalence of mental health disorders among the adult population worldwide, coupled with increasing acceptance and utilization of telepsychiatry services by adults seeking convenient and accessible mental health care solutions. For instance, in November 2023, MDLIVE Inc. released MDLIVE Behavioral Health, a new mental health platform that provides on-demand access to psychiatrists, therapists, and counselors.
By end-user, the community mental health centers segment accounted for the highest revenue-grossing segment in the global telepsychiatry market in 2023 owing to the growing recognition of the importance of community-based mental health services and the adoption of telepsychiatry as a cost-effective and accessible solution for delivering psychiatric care to underserved communities. For instance, in October 2023, BetterHelp added additional features to its teletherapy platform, such as group therapy sessions and enhanced user experience. Additionally, the homecare segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing preference for home-based healthcare solutions among patients, advancements in remote monitoring technology, and the growing elderly population requiring long-term mental health support in the comfort of their homes.
North American region is anticipated to have the highest revenue share during the forecast period owing to the robust healthcare infrastructure, favorable reimbursement policies, increasing adoption of telehealth technologies, and growing awareness of mental health issues driving demand for telepsychiatry services in the region. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the expanding population, rising awareness of mental health issues, increasing investment in healthcare infrastructure, and growing adoption of telepsychiatry solutions to address the mental health needs of a diverse and geographically dispersed population. For instance, iCliniq extended its telemedicine services in January 2024 to include mental health consultations, providing patients with online access to licensed psychologists and psychiatrists.
This extensive research report concentrates on the size and projections of the global and regional markets from 2023 to 2034.
Report Scope:
- Base Year: 2023
- Forecast Period: 2024-2034
- Study Coverage
- Market Forecast by Product, Age Group, and End-User
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Exhaustive Company Profiles of the Top 10+ Major Market Players
- 20% Free Customization Available to Meet Your Exact Requirement
Segmentation: Telepsychiatry Market Report 2023 - 2034
Telepsychiatry Market Analysis & Forecast by Product 2023 - 2034 (Revenue USD Bn)
- In-home Solutions
- Forensic Solutions
- Routine Solutions
- Crisis Solution
Telepsychiatry Market Analysis & Forecast by Age Group 2023 - 2034 (Revenue USD Bn)
- Adult
- Pediatric and Adolescent
- Geriatric
Telepsychiatry Market Analysis & Forecast by End-User 2023 - 2034 (Revenue USD Bn)
- Community Mental Health Centers
- Specialty Care Settings
- Skilled Nursing Facilities
- Homecare
- Others
Telepsychiatry Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Telepsychiatry Market: Product Estimates & Trend Analysis
8. Telepsychiatry Market: Age Group Estimates & Trend Analysis
9. Telepsychiatry Market: End-User Estimates & Trend Analysis
10. Regional Market Analysis
11. North America Telepsychiatry Market
12. Europe Global Telepsychiatry Market
13. Asia Pacific Global Telepsychiatry Market
14. Latin America Global Telepsychiatry Market
15. MEA Global Telepsychiatry Market
16. Competitor Analysis
17. Company Profiles
Companies Mentioned
- Teladoc Health Inc.
- American Well Corporation
- InSight Telepsychiatry (a division of Genoa Healthcare)
- MDLIVE Inc.
- Talkspace
- BetterHelp
- Amwell
- iCliniq
- Regroup Therapy
- Doctor On Demand
- Breakthrough Behavioral
- Click Therapeutics
- Virtue Health
- Access Psychiatry Solutions
- Mindoula Health.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | October 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 8.1 Billion |
| Forecasted Market Value ( USD | $ 60.94 Billion |
| Compound Annual Growth Rate | 20.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 15 |
