What Are the Telepsychiatry Market Size and Growth Forecast?
The telepsychiatry market size has seen substantial growth over the past few years, expanding from $12.45 billion in 2024 to an expected $15.59 billion in 2025, exhibiting an impressive 25.3% CAGR. This growth is primarily fueled by greater mental health awareness, shortage of mental health professionals, improved access to rural healthcare, supportive telehealth regulations and demonstrated effectiveness of telepsychiatry.
The market is anticipated to continue its upward trajectory and reach $35.32 billion by 2029, projecting a CAGR of 22.7%. Such robust growth in the forecast period can be attributed to factors such as a rising mental health crisis, the adoption of school-based telepsychiatry, significant research outcomes in telepsychiatry, growing focus on workforce mental health, and the tackling of global health challenges.
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Why is the Telepsychiatry Market Seeing High Growth Rates?
The telepsychiatry market is witnessing substantial growth as the demand for mental health treatment has surged. Mental wellbeing encompasses cognitive, behavioral, and emotional health. A notable rise in demand has been observed for the treatment of disorders such as anxiety and depression. For example, a report by the American Psychiatric Association in May 2024 highlighted that 43% of adults felt more anxious than the previous year, marking a significant increase from 37% in 2023 and 32% in 2022. As such, this increasing need for mental health treatment is propelling the telepsychiatry market forward.
What are the Key Segments in the Telepsychiatry Market?
The telepsychiatry market, as covered in this report, is segmented by:
1) Type: Routine Telepsychiatry, Forensic Telepsychiatry, Crisis Telepsychiatry, In-Home Telepsychiatry
2) Age Group: Adult, Pediatric and Adolescent, Geriatric
3) End-Use: Community Mental Health Centers, Specialty Care Settings, Skilled Nursing Facilities, Homecare, Other End-Users
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Who are the Major Players in the Telepsychiatry Market?
Prominent companies operating in the telepsychiatry market include Aramark Corporation, Alere Emotional Health LLC, Flatworld Solution, Integrated Telehealth Partners, ABM Industries Inc., Advanced Telemed Services, American Telepsychiatrists, Encounter Telehealth LLC, InnovaTel Telepsychiatry, SOC Telemed Inc., Telemynd, American Well Corp, Teladoc Health Inc., MDLive Inc., Talkspace Inc., MeMD Inc., PlushCare, Indian Hotels Company Limited, Cerebral Inc., Brightside Group Ltd., BetterHelp, AbleTo Inc., Spring Health Inc., Quartet Health Inc., Meru Health Inc., Lyra Health Inc., MindBeacon Holdings Inc., iCouch Inc., LMND Medical Group Inc.
What are the Key Trends in the Telepsychiatry Market?
Companies operating in the telepsychiatry market are embracing innovations like artificial intelligence (AI) to enhance patient care, improve diagnostic accuracy, and streamline delivery of mental health services. For example, Iris Telehealth, a US-based telepsychiatry firm, launched Virtual Clinic and Iris Insights platforms in September 2024 to boost the accessibility of behavioral health services using cutting-edge technology. Iris Insights is an AI-driven platform designed to enhance the operational effectiveness of behavioral health programs, with the Virtual Clinic catering to patient-centered care that integrates seamlessly into existing healthcare workflows.
Which Region Leads in the Telepsychiatry Market?
North America held the largest market share in the telepsychiatry market in 2024. However, the telepsychiatry market is a global phenomenon, with the report covering Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
What Does The Telepsychiatry Market Report 2025 Offer?
Telepsychiatry refers to the provision of clinical psychiatric care, patient education, health information services, and self-care through telecommunications and digital communication technologies. The Telepsychiatry Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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