From GlobeNewswire: 2025-03-28 09:00:00

The global Telepsychiatry Market was valued at USD 7.34 billion in 2023 and is projected to reach USD 41.59 billion by 2032, growing at a CAGR of 20.81% from 2024 to 2032. Factors driving this growth include mental health awareness, digital healthcare adoption, and favorable reimbursement policies.

Telepsychiatry has become crucial in the US, providing convenient access to psychiatric services. Favorable policies and digital infrastructure have helped bridge gaps in mental health care delivery.

Factors contributing to the growth of telepsychiatry adoption include rising mental health disorders, convenient remote consultations, and reduced stigma. Technological advancements and user-friendly interfaces have enhanced accessibility and efficiency of services.

In-home telepsychiatry solutions dominated the market in 2023, offering patients comfort and convenience. Crisis telepsychiatry services are expected to see significant growth due to the prevalence of mental health crises and demand for instant intervention.

The adult segment led the telepsychiatry market in 2023, with 55% market share. The pediatric and adolescent segment is expected to be the fastest-growing, driven by increased awareness and rising cases of mental health issues.

North America held a 32% market share in 2023, driven by smartphone penetration, supportive policies, and industry presence. The Asia-Pacific region is poised for significant growth due to economic development, digital health investments, and government support for telepsychiatry services.

Thriveworks acquired Synchronous Health, integrating telehealth with AI-driven platforms. Talkiatry partnered with BetterHelp to enhance psychiatric care delivery. Talkiatry and BetterHelp have teamed up to provide telepsychiatry services and medication management to BetterHelp’s business clients. The use of telepsychiatry services has surged, with over 60% of mental health visits in some regions now conducted remotely. Investment in telepsychiatry startups and digital mental health solutions has exceeded $2 billion in 2023. Private insurance providers and government programs now cover 75% of telepsychiatry services. The number of pediatric and adolescent telepsychiatry consultations has increased by around 30% in 2023.



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