The telemental health market is expected to reach US$ 25.8 billion by 2028 attaining the CAGR of 31.1% from 2021 to 2028. Telemental health is defined as the use of telecommunications or videoconferencing technology to provide mental health services. It is also referred to as telepsychiatry or telepsychology. The healthcare industry is moving towards monitoring systems, patient’s self-supervision, computer-mediated therapy and instructional videos. Telemental health care is a new multidisciplinary approach which is based upon information technologies and computer sciences enabling psychiatric services offered to patients. Telemental health market provides effective and adaptable solutions to cure the mental illnesses globally. When compared to in-person services, telemental health care is advantageous and inexpensive to use the current technology and its adaptable designs, especially in isolated areas.
Telemental Health Market Dynamics
Driver: Technology adoption in pandemic
The increasing demand of healthcare services and technologies reached highest in the case of pandemic arising globally or locally. Technologies like telemedicine, chatbots, and robots are used to help and gather patient information, treat patients, make diagnosis and even prepare future vaccines. Since there is a shortage of beds and healthcare workers, the potential of telehealth has been highlighted.
Challenge: Behavioral barriers, affordability and lack of awareness
Physicians and patients usually face a lack of familiarity with the new practices and do not want to end up with conventional practices.
Opportunity: AI and Analytics
Big data analytics can help to process the data collected from the telehealth services including both vital signs and symptoms or patient behavior, with historical data to find risk prediction and treatment.
North America Accounts for the largest share in the telehealth market all over the period due to the increasing overall and geriatric population. Asia Pacific market is predicted to grow at the high rate due to the occurrence of chronic diseases and overcrowded health centers.
The telemental health market is segmented on the basis of mental disorders, type, component, mode of delivery, end-user. Based on mental disorders, the telemental health market is segmented into panic disorder, obsessive-compulsive disorder, depression, posttraumatic stress disorder. By type, the telemental health market is segmented into telepsychology, telepsychiatry, telebehavioral health, teleradiology, tele-consultation, tele-ICU, tele-stroke, tele-dermatology, other applications. By component, the telemental health market is segmented into services, software, hardware. Hardware is further sub segmented into glucose meters. Moreover, based on mode of delivery, the telemental health market is segmented into web-based delivery mode, cloud-based delivery mode, and on-premise delivery mode. Furthermore, on basis of end-user, telemental health market is segmented into providers, payers and patients.
The major players covered in the telemental health market report are Koninklijke Philips N.V., Medtronic, GE Healthcare, Cerner Corporation, Siemens Healthineers, Cisco Systems, Inc., Teladoc Health Inc., American Well, AMC Health, MDLive, Doctor on Demand, Medvivo Group Ltd, Asahi Kasie Corporation, Iron Bow Technologies, Telespecialists Llc, GlobalMed, MedWeb, IMediplus Inc, Vsee, Chiron Health, and Zipnosis among others.
The Telemental Health Market can be segmented into the following segments:
The prominent players in the global Telemental Health market are