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

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.

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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.

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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.

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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 ?

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

Q3. What Is Telemental Health Market ?

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