Telepsychiatry Market Size Worth $36.3 Billion by 2027 | CAGR: 24.7%: Grand View Research, Inc.

Telepsychiatry Market Size Worth $36.3 Billion by 2027 | CAGR: 24.7%: Grand View Research, Inc.

PR Newswire

SAN FRANCISCO, July 21, 2020

SAN FRANCISCO, July 21, 2020 /PRNewswire/ -- The global telepsychiatry market size is expected to reach USD 36.3 billion by 2027, expanding at a 24.7% CAGR, according to a new report by Grand View Research, Inc. Increasing mental health disorder and advancement in healthcare IT are key driving factors for this market.

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Key suggestions from the report:

Read 110 page research report with ToC on "Telepsychiatry Market Size, Share & Trends Analysis Report By Product (In-home Solutions, Forensic Solutions), By Age Group, By End Use, By Region, And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/telepsychiatry-market

Virtual consultation help in significantly reducing the travel time and is one the primary reasons for its growing acceptance among patients. According to the National Institute Of Mental Health, in 2018 one in five adults in U.S. had a mental illness. There has been a significant rise in telemental health visits over the past decade in the developed countries such as U.S., U.K., Germany, and Spain and the trend is expected to continue during the forecast period, thereby contributing to the adoption of virtual mental health consultation by hospitals and healthcare settings. Moreover, the usage of smart surveillance cameras and analytical software can notify the caregivers in terms of changes in activity or lack of movement in patients with mental health diseases, which is increasing the adoption.

Grand View Research has segmented the global telepsychiatry market on the basis of product, age group, end-use, and region:

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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