Telehealth/Telemedicine Market will drive the growth of the global telehealth market which is expected to grow at a CAGR of 23.0% to reach USD 12,105.2 million by 2023, according to Meticulous Research®.

Telehealth health, also known as telemedicines health or telepsychiatry or e-mental health or virtual mental health is the provision of remote mental health care services through modalities such as video conferencing, computer programs, and mobile applications. These services are offered by various mental health providers including psychiatrists, psychologists, social workers, counselors, and marriage and family therapists. Behavioral health care models have evolved over the years. This is evident by the inclusion of hospital EDs providing telepsychiatric assessment programs, and the establishment of virtual networks of mental health professionals providing services to underserved regions
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Telemental health services are rapidly gaining acceptance among the payers and providers over other telehealth disciplines. This is mainly because mental health providers and patients rarely find any difference in care delivery and patient satisfaction remotely using telehealth technology as compared with face-to-face mental health interactions. E-mental health care may improve the quality of the communications between a mental health provider and his or her patients by reducing the stigma that might occur when a patient physically visits the mental health center. Moreover, factors such as the rising prevalence of mental illness and a shortage of mental health professionals are further pushing healthcare stakeholders to look for alternative behavioral healthcare models such as telehealth technology.
According to the National Crime Records Bureau, 2015, in India, the entire mental health workforce, comprising clinical psychiatrists, psychologists, psychiatric social workers and psychiatric nurses stands at 7,000, while the actual requirement is 54,750. As per a 2017 National Council for Behavioral Health report, in 2025, in the U.S., the demand may outstrip supply by 6,090 to 15,600 psychiatrists. Thus, an escalating shortage of psychiatrist and other mental health providers across the globe provides a growth opportunity for telemental health market.
Radiology and cardiology are by far the two leading applications of telehealth, which together represented two-thirds of demand in 2017, and will continue to have the greatest impact on gains through 2023. However, healthcare providers are rapidly expanding use of telemedicine in a number of specialities including mental health, dermatology, oncology, and surgery in underserved, rural, remote areas with deprived access to health specialists.
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Geographically, this market is categorized into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). North America commanded the largest share of the global telehealth market in 2017. The largest market in North America is the U.S. and it is mainly attributed to rising healthcare costs and regulatory policies, growth in geriatric population and increasing prevalence of chronic diseases, shortage of healthcare professionals, implementation of government initiatives, increasing funding for telehealth, and presence of several key players in this region.
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