Research Nester published a report titled “Telepsychiatry Software Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global telepsychiatry software market in terms of market segmentation by type, application, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global telepsychiatry software market is estimated to occupy a substantial revenue by growing at a significant CAGR during the forecast period, i.e., 2022 – 2031, ascribing to the rising prevalence of mental health disorders, and increase in remote patient monitoring worldwide. Along with these, growing healthcare expenditure, especially in developed and developing nations, and escalating utilization of artificial intelligence (AI) and analytics in digital health systems are also expected to drive the growth of the market in the forthcoming years.
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The market is segmented by type and application. Based on type, the real-time communication telepsychiatry software segment is anticipated to acquire the largest share during the forecast period in view of the growing use of video call for consultation resulting from their high affordability and convenience. Additionally, by application, the private practice segment is projected to acquire the largest share over the forecast period attributing to the increasing focus of patients for receiving psychiatric care at their own location.
Geographically, the global telepsychiatry software market is segmented into five major regions, namely North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. Asia Pacific is evaluated to witness noteworthy growth in the market during the forecast period attributing to the increasing healthcare IT spending, and launch of initiatives to spread awareness about mental health issues in the region. Moreover, the market in North America is assessed to acquire the largest share over the forecast period on the back of high deployment of advanced healthcare technologies, and rising penetration of smartphones in the region.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
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Increasing Prevalence of Mental Health Disorders Around the World to Drive Market Growth
Over the last two decades, the prevalence of mental health disorders, such as anxiety, depression and drug use, have witnessed a notable hike. This is giving rise to the usage of telepsychiatry software among people globally as it enables remote and high-quality professional care, which in turn is predicted to drive significant market growth in the near future.
However, lack of proper broadband services in underdeveloped countries is expected to operate as key restraint to the growth of the global telepsychiatry software market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global telepsychiatry software market which includes company profiling of Valant, Mend VIP, Inc., OnCall LLC, Smoky Mountain Information Systems Inc., CMETRIC Inc., Elation Health, Inc., Medical Information Technology, Inc., Teladoc Health, Inc., ClinicTracker EHR, Cerner Corporation, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global telepsychiatry software market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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