Telepsychiatry Market Size

Telepsychiatry Market size was over USD 11.9 billion in 2024 and is estimated to reach USD 77.5 billion by the end of 2037, expanding at a CAGR of 16.9% during the forecast timeline, i.e., 2025-2037. In 2025, the industry size of the telepsychiatry is projected to be valued at USD 13.9 billion.

The market is fueled by increasing demand for accessible mental health care and growing awareness around mental health issues. As per an article posted by WHO, 40 million people globally suffered from bipolar disorder, in 2019. The article further states that 1 in every 300, comprising 24 million people worldwide, suffer from schizophrenia.

The COVID-19 pandemic highlighted the value of virtual mental health care, accelerating telepsychiatry adoption worldwide, as patients grew more comfortable with digital interactions. It triggered a 25% increase in the global prevalence of anxiety and depression, as per WHO. The convenience of remote care due to the rapidly increasing geriatric population is highly in demand. Telepsychiatry market services for specific demographics are also gaining momentum. Additionally, supportive government policies and funding initiatives in various regions are encouraging the growth of the market significantly. In 2021, the Seventy-fourth World Health Assembly endorsed updates to WHO’s Comprehensive Mental Health Action Plan 2013-2020.