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Global Telemental Health Market Size, Segmentation, Trends and Growth Analysis Forecast by 2030

  •   DLR4819
  •   April, 2024
  •   Pages: 150
  •  Global

Telemental Health Market Overview and Analysis:

The Telemental Health Market was currently valued at USD 113.7 billion in the year 2022 and is expected to increase to USD 710.6 billion by the end of 2030, registering a CAGR of 25.7% over the forecast period.

 Telemental Health Market

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Telemental health is the use of telecommunications or videoconferencing technology to provide mental health services. It is sometimes referred to as telepsychiatry or telepsychology. Research suggests that telemental health services can be effective for many people, including, but not limited to those with attention-deficit/hyperactivity disorder (ADHD), post-traumatic stress disorder (PTSD), depression, and anxiety.

The growing geriatric population teleconsulting, and rising chronic diseases are important causes of death and disability worldwide, and they play a significant role in the rise in telemental health services. Furthermore, several governments have launched remote telemental health monitoring systems aimed at enhancing drug administration and disease management in the homecare context is a vital factor further expected to drive the growth of the telemental health market. 

Telemental Health Latest Trends:

The technology trends such as IoT, AR, and AI made critical headway only after the COVID-19 pandemic. With increasing investments in remote services and telemental health solutions, hospitals and clinics are looking for better, more efficient software to streamline telemental health. Furthermore, the latest innovations in telemedicine technology integrate AI to help providers work more efficiently, keep patients connected with wearables and other tools for remote patient monitoring, and even use robotics to bring specialty care to places it's never been.

Segmentation of The Telemental Health Market

By Mental Disorders : 

  • Panic disorder
  • Obsessive-Compulsive Disorder
  • Depression
  • Posttraumatic Stress Disorder

By Type :

  • Telepsychology
  • Telepsychiatry
  • Telebehavioral Health

By Component :

  • Services
  • Software
  • Hardware
  • RPM
  • Real-Time

Mode of Delivery :

  • Web-Based Delivery Mode
  • Cloud-Based Delivery Mode
  • On-Premise Delivery Mode

Geography

  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World

The market sizes and forecasts are provided in terms of value in USD billion for all the above segments.

 Telemental Health Market Segmentation

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Drivers:

Telemental Health Growing Geriatric Population Teleconsulting, and Rising Chronic Diseases. 

Mental health problems are common among seniors and may include isolation, affective and anxiety disorders, dementia, and psychosis, among others. Many seniors also suffer from sleep and behavioral disorders, cognitive deterioration, or confusion states as a result of physical disorders or surgical interventions. The recent data published by Mental Health UK in June 2022, reported that the number of people aged 75 and over has increased by 89% over this period and now makes up 8% of the population. Depression affects around 22% of men and 28% of women aged 65 years and over, yet it is estimated that 85% of older people with depression receive no help at all from the NHS.

Technological Advancement in Telemental Health Services 

In April 2023, U.S. Senators Tina Smith (D-Minn.) and Mike Rounds (R-S.D.)  reintroduced legislation to improve access to mental health and substance use services. The Home-Based Telemental Health Care Act of 2023 would establish a grant program for health providers to expand telemental health services in rural areas and for individuals working in the farming, forestry, and fishing industries. This legislation would direct the Secretary of Health and Human Services, in coordination with the Rural Health Liaison of the Department of Agriculture, to award grants to public and non-profit mental health and substance use providers to expand access to telehealth services in rural communities and for those in farming, fishing and forestry occupations. Thus, such developments are fueling the growth of the studied market.

COVID-19 Impact and Russian War Impact on the Growth of the Studied Market 

The pandemic of COVID-19 has had a huge impact on the telemental health market. However, the COVID-19 pandemic has provided immense opportunities for telehealth and telemedicine solutions, as it is capable of minimizing exposure. In 2020, In the United States, Europe, Australia, New Zealand, and Singapore, Koninklijke Philips launched the Avalon CL Fetal and Maternal Pod and Patch for remote monitoring to support fetal and maternal monitoring.

Segmental Analysis:

Depression Segment is Expected to Witness Significant Growth Over the Forecast Period.

Depression has a range of different symptoms, and it can affect everybody differently. The symptoms include feeling very tearful, feeling hopelessness and sadness, and losing interest in things you enjoyed before. It's also common for people with depression to have symptoms of anxiety. As per the latest data published by WHO reported that an estimated 3.8% of the population experience depression, including 5% of adults (4% among men and 6% among women), and 5.7% of adults older than 60 years. Approximately 280 million people in the world have depression. Depression is about 50% more common among women than among men. Worldwide, more than 10% of pregnant women and women who have just given birth experience depression. More than 700,000 people die due to suicide every year. Suicide is the fourth leading cause of death in 15–29-year-olds. Thus, such a high number of depression cases is increasing the demand for telemental health services, thereby driving the growth of the studied segment.

Telepsychology Segment is Expected to Witness Significant Growth over the Forecast Period.

Telepsychology is the process of providing psychological services through telecommunication technologies. Distance therapy is psychotherapy that is not performed in face-to-face sessions but instead provided through telephone, videoconference, or audioconference. In June 2020, American Psychological Association (APA) advocacy convinced regulators to change telehealth rules to increase access to care during the pandemic. During the time of the pandemic, APA has led a successful advocacy and education campaign to maximize the availability of telepsychology services for vulnerable populations and to ensure that psychologists are prepared to provide these services and are properly reimbursed for them. Thus, such initiatives are propelling the growth of the studied segment.

Software Segment is Expected to Witness Significant Growth Over the Forecast Period. 

Telehealth software for mental health is usually integrated with EHR/EMR, a laboratory information system, and a practice management system to ensure smooth clinical workflows and instant communication. Telemental health software is any technology that enables medical providers to diagnose or treat patients remotely using secure telecommunications tools such as video chats, phone, or email. Telemental health software is a broad category that can include remote patient monitoring, e-prescribing, scheduling, video conferencing capabilities, an included telemedicine mobile app, virtual waiting rooms, and/or chat capabilities.

Furthermore, the recent developments in this segment are expected to fuel this segment over the forecast period. For instance, in June 2021, Wolters Kluwer launched telemedicine value sets for payers and providers to thrive post-COVID. Thus, the above-mentioned reasons are fuelling the growth of the studied segment.

Cloud-Based Delivery Mode Segment is Expected to Witness High Growth Over the Forecast Period.

 The aim of the Cloud Strategy is to guide the NHS and other healthcare organisations in harnessing cloud computing to move to a cloud-based environment, which offers a flexible and environmentally sustainable approach, that is an increasingly cost-effective solution to the traditional server infrastructure model.

North American Region is Expected to Witness Significant Growth Over the Forecast Period.

North America dominates the telemental health market due to the rise in the demand for telemedicine. Furthermore, the growing healthcare understanding combined with cloud-based technologies acknowledgment will further boost the growth of the telemental health market in the region during the forecast period. Furthermore, the recent developments are fueling the growth of the studied market. For instance, in September 2022, CECORS, INC. reported that it had completed the beta version of its Telehealth App PSYKEY LIVE. Accessibility to quality mental health support through qualified care providers can be an overwhelming task.

According to Whitehouse.gov, an estimated USD 280 billion was spent on mental health services in the United States in 2020. In Canada, over the past 20 years, mental health costs have increased by 646%, bringing the economic burden to an estimated USD 51 billion per year, according to the Centre for Addiction and Mental Health (CAMH). This cost includes health care, lost productivity, and reductions in health-related quality of life. Thus, such developments are fueling the growth of the studied market in the region.

 Telemental Health Market Table

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Telemental Health Competitive Landscape:

Telemental Health is highly competitive due to the presence of many players working globally and regionally in this market segment. Some of the market players working in this segment are:- 

Key Players :

  • Cisco Systems, Inc. (US)
  • AMD Global Telemedicine, Inc.
  • Aerotel Medical Systems (1998) Ltd
  • Medtronic (US)
  • F. Hoffmann-La Roche Ltd.
  • McKesson Corporation
  • Koninklijke Philips N.V.
  • Otsuka America Pharmaceutical Inc.
  • Cerner Corporation Allscripts
  • InTouch Technologies, Inc.
  • WeCounsel

Recent Development:

1) In August 2023: Talkiatry, a national telepsychiatry provider, has expanded its child and adolescent psychiatry services to five new states. The provider's offerings are now live in Wisconsin, Minnesota, Oregon, Alabama, and Louisiana in addition to 26 other states, bringing its total pediatric reach to 31 states and 58 million minors across the country, Talkiatry told Fierce Healthcare prior to the official announcement.

2) In July 2023: - Teladoc Health entered into collaboration with Microsoft by working together to integrate Microsoft Azure OpenAI Service, Azure Cognitive Services, and the Nuance Dragon Ambient eXperience (DAX) into the Teladoc Health Solo platform. The integrated solutions will automate the creation of clinical documentation during virtual exams to help ease the burden on the healthcare workforce while improving the quality of shared medical information and the care it supports. The Teladoc Health Medical Group also plans to use Nuance DAX Express for care visits provided directly by Teladoc Health.



Frequently Asked Questions (FAQ) :

Q1. How big is the Telemental Health Market ?

The Telemental Health Market was currently valued at USD 113.7 billion in the year 2022 and is expected to increase to USD 710.6 billion by the end of 2030

Q2. What is the Growth Rate of the Telemental Health Market ?

Telemental Health Market is registering a CAGR of 25.7% over the forecast period.

Q3. What Is Telemental Health Market ?

Telemental health is the use of telecommunications or videoconferencing technology to provide mental health services.

Q4. Which are the major companies in the Telemental Health Market ?

Cisco Systems, Inc. (US), AMD Global Telemedicine, Inc., Aerotel Medical Systems (1998) Ltd and Medtronic (US) are some of the major companies of Telemental Health Market.

INTRODUCTION                
    Study Assumptions and Market Definition            
    Scope of the Study            
RESEARCH METHODOLOGY                
EXECUTIVE SUMMARY                
MARKET DYNAMICS                
    Market Overview            
    Market Drivers            
        Increasing Adoption Of Digital Health And Telehealth        
        Shortage Of Medical Professionals And Increasing Demand For Healthcare Services        
        Rise In Artifical Intelligence, Iot, Big Data, And Virtual Assistance        
    Market Restraints            
        Cybersecurity And Privacy Concerns        
        Lack Of Healthcare Infrastructure        
    Porter's Five Force Analysis            
        Threat of New Entrants        
        Bargaining Power of Buyers/Consumers        
        Bargaining Power of Suppliers        
        Threat of Substitute Products        
        Intensity of Competitive Rivalry        
MARKET SEGMENTATION (Market Size by Value - USD million)                
    By Product Type            
        Hardware        
            Monitors    
            Medical Peripheral Devices    
                Blood Pressure Meters
                Blood Glucose Meters
                Weighing Scales
                Pulse Oximeters
                Peak Flow Meters
                ECG Monitors
        Software        
            Standalone Software    
            Integrated Software    
        Services        
            Remote Patient Monitoring    
            Real-Time Interactions    
            Others    
    By Delivery Mode             
        On-premise        
        Web-based        
        Cloud-based        
    By End-users            
        Payers        
        Providers        
        Patients        
    Geography            
        North America        
            United States    
            Canada    
            Mexico    
        Europe        
            Germany    
            United Kingdom    
            France    
            Italy    
            Spain    
            Rest of Europe    
        Asia-Pacific        
            China    
            Japan    
            India    
            Australia    
            South Korea    
            Rest of Asia-Pacific    
        Middle East and Africa        
            GCC    
            South Africa    
            Rest of Middle East and Africa    
        South America        
            Brazil    
            Argentina    
            Rest of South America    
COMPETITIVE LANDSCAPE                
    Company Profiles            
        Zoetis Inc.        
        Merck & Co. Inc.        
        Virbac        
        Hester Biosciences Limited        
        Elanco Animal Health        
        Boehringer Ingelheim International GmbH        
        Ceva Sante Animale        
        Phibro Animal Health Corporation        
        HIPRA        
MARKET OPPORTUNITIES AND FUTURE TRENDS                

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Research Process

Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.

In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization

FIGURE 1: DLR RESEARH PROCESS

research-methodology1

Primary Research

Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.

In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.

It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.

Secondary Research

Secondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.

Market Size Estimation

Both, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.

Forecast Model

research-methodology2