North America Telepsychiatry Market By Product (In-home Solutions, Crisis Solution, Routine Solution, Forensic Solution and Other Products), By Application (Community Mental Health Centers, Homecare, Skilled Nursing Facilities, Specialty Care Settings and Others), By Age Group (Adult, Pediatric & Adolescent, and Geriatric), By Country, Industry Analysis and Forecast, 2020 - 2026
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Market Report Description
The North America Telepsychiatry Market would witness market growth of 18.5% CAGR during the forecast period (2020-2026). Telemedicine is a type of healthcare facility in which services are provided by the use of technology, mainly by using audio calls or videoconferencing. Telepsychiatry is considered as a sub-segment of telemedicine that ranges from mental health solutions like therapies, for family, individual, and groups; psychiatric evaluations, medication management, and patient education. In Telepsychiatry there is either direct communication between the psychiatrist and the patient or by the help of psychiatrist who supports primary health care providers who are specialized in mental health.
The increasing cases of suicide among teenagers and young adults is resulting in an increase in the need for mental health treatment. This is likely to boost the telepsychiatry market. The many advantages associated with the adoption of telepsychiatry including better continuity of care and follow-up treatments, reduction in need of transportation, almost no delays in care, and the no need to wait long hours at hospitals, are aiding in the telepsychiatry market growth. Furthermore, there is a lack of skilled professionals who are able to treat mental illness, varying regulatory scenario like the inclusion of certain compensation codes for telepsychiatry, are expected to contribute to the telepsychiatry market growth, as it offers accessibility between the psychiatrist and patients.
Based on Product, the market is segmented into In-home Solutions, Crisis Solution, Routine Solution, Forensic Solution and Other Products. Based on Application, the market is segmented into Community Mental Health Centers, Homecare, Skilled Nursing Facilities, Specialty Care Settings and Others. Based on Age Group, the market is segmented into Adult, Pediatric & Adolescent, and Geriatric. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers theanalysis of key stake holders of the market. Key companies profiled in the report include E-Psychiatry LLC, Advanced TeleMed Services, Inc., American Telepsychiatrists, Iris Healthcare, Inc., Encounter Telehealth, LLC, FasPsych, LLC (Pharos Capital Group, LLC), MDLive, Inc., InnovaTel Telepsychiatry, LLC, MYnd Analytics, Inc. (Arcadian Telepsychiatry), and SOC Telemed, Inc.
Scope of the North America Telepsychiatry Market Analysis
- In-home Solutions
- Crisis Solution
- Routine Solution
- Forensic Solution
- Other Products
- Community Mental Health Centers
- Skilled Nursing Facilities
- Specialty Care Settings
By Age Group
- Pediatric & Adolescent
- Rest of North America
- E-Psychiatry LLC
- Advanced TeleMed Services, Inc.
- American Telepsychiatrists
- Iris Healthcare, Inc.
- Encounter Telehealth, LLC
- FasPsych, LLC (Pharos Capital Group, LLC)
- MDLive, Inc.
- InnovaTel Telepsychiatry, LLC
- MYnd Analytics, Inc. (Arcadian Telepsychiatry)
- SOC Telemed, Inc.
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