According to analysts at Vantage Market Research, the Global Telepsychiatry Market size is worth USD 23.2 Billion in 2024 and is projected to reach USD 146.44 Billion by 2035, growing at a CAGR (Compound Annual Growth Rate) of 18.25% from 2025 to 2035. Key trends of market include increased adoption of virtual mental health platforms, integration of AI for personalized care, expanding reimbursement policies, rising smartphone penetration, and growing focus on remote patient monitoring.

Market Overview       

The growth of Telepsychiatry market is driven by the increasing prevalence of anxiety, stress, and other mental health disorders. As more individuals are diagnosed with mental health conditions, there is a growing need for accessible, effective, and affordable psychiatric care. Traditional in-person consultations may not be feasible for everyone due to factors like geographical location, long waiting times, high costs, and social stigma.

Emerging regions such as Asia Pacific face a critical shortage of mental health resources and specialists due to limited infrastructure and workforce. Telepsychiatry can help bridge this gap by improving access to mental health services and reducing disparities in care. Additionally, the cost-effectiveness of telehealth makes telepsychiatry a sustainable solution for these markets. Numerous telehealth initiatives by non-profit organizations in developing countries have already showcased the potential of telepsychiatry. Increased awareness, investments in telecom infrastructure, and task-sharing or e-learning programs to train more providers can further drive telepsychiatry market growth. 

Royal Philips Introduces Virtual Care Management to Improve Remote Patient Engagement and Chronic Disease Management

• In March 2023, Royal Philips launched Philips Virtual Care Management, a comprehensive solution designed to enhance remote patient engagement for healthcare providers, payers, and employers. This platform helps ease the strain on hospital staff by decreasing emergency department visits and lowering care costs through more effective management of chronic conditions

Key Takeaways from the Report

• In 2024, North America dominated the market with 34.3% market share. Market is driven by increased smartphone penetration, favorable reimbursement policies, and the presence of numerous industry players in the region
• Based on the Product, the In-home Solutions category accounted for significant market share of 35.5% in 2024. This segment dominance is attributed to the growing preference for telepsychiatry treatments, which offer the convenience of remote access and eliminate the need for travel. 
• In 2024, by Age Group, Adult dominated the market with significant market share of 58.5%. The segment is driven by increasing prevalence of depression and anxiety among adults, coupled with their familiarity with smartphones and online platforms
• In 2024, based on End Use, Community Mental Health Centers dominated the market with significant market share of 29.5%. The segment is driven by a significant shortage of clinical staff in these centers

Top Companies

• MDLIVE (Evernorth Company)
• Array Behavioral Care
• Iris Telehealth Inc.
• Telemynd
• Access TeleCare LLC
• Advanced Telemed Services
• Encounter Telehealth
• innovate
• MDsafari Inc
• American Telepsychiatrists

Report Coverage

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Latest News

Wheel Launches Horizon: AI-Powered Telehealth Platform to Enhance Patient Care and Support Providers

• In June 2024, Wheel introduced Horizon, an AI-driven telehealth platform aimed at delivering patient care insights and reducing the workload on healthcare providers. By leveraging data from patient profiles, lab results, and remote monitoring devices, Horizon offers tailored recommendations and identifies trends, particularly benefiting organizations focused on managing specific health conditions. It supports providers by recommending appropriate programs, such as diabetes management for individuals with high A1C levels

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