The value of the Tele-Intensive Care Unit (ICU) market is projected to grow to USD 10.66 Billion with an estimated CAGR of 14.28 % by 2030
A tele-ICU allows off-site physicians to collaborate on patient treatment with bedside staff. One unified care team can handle a large number of geographically scattered ICU locations in real time by exchanging health information electronically. The tele-intensive care unit improves healthcare delivery quality, decreases clinical decision time, and provides real-time access to a patient's medical records. The benefit of introducing a tele-intensive care unit is that it reduces hospital stays and lowers overall costs for patients.
The aim of the report is to estimate the market size for tele-intensive care unit (ICU) and the future growth potential of the market for tele-intensive care unit (ICU) across various segments, such as type, and component.
The market has been studied for historic years from 2018 and 2019, with the base year of estimation as 2019 and forecast from 2020 to 2028. The tele-intensive care unit (ICU) market is expected to grow in the coming years due to an increase in the number of elderly patient pool requiring intensive care and continuous technological advances in remote patient monitoring technologies. Factors such as growing prevalence of chronic diseases worldwide, along with increase in need to reduce hospitalization time are other key drivers of the tele-intensive care unit (ICU) market. However, high implementation and technology costs will hinder the growth of the market in the next few years.
Based on component, hardware segment will hold substantial share of the market in 2019 whereas software segment will witness huge growth in the next few years. By type, the global tele-ICU market is segmented into intensivist, co-managed, open and open with consultants. Intensivist segment to witness significant growth during the forecast period. The intensivist model allows for quick clinical decisions in the event of complications.
North America dominated the global food testing test kits market in 2019. The dominant share is attributable to high prevalence of chronic diseases, rapid adoption of remote monitoring tools along with favorable government initiatives in the region. For instance, the New Hampshire Society of Anesthesiologists (NHSA) launched the Tele-intensive Care Unit (Tele-ICU) hub in July 2020 to partner with physicians in rural hospitals to ensure infected patients from across the state receive critical care expertise at no cost while providing care close to home in Chicago. Moreover, presence of well-established industry players in the U.S. is expected to fuel growth of the market in the region.
Asia Pacific is projected to witness lucrative growth over the coming years owing to increase in prevalence of chronic disorders along with presence of large geriatric population in emerging countries such as India and China. This is likely to augment the demand for tele-intensive care unit (ICU) in the region. Large patient pool infected with COVID-19 coupled with supportive government policies such as launch of tele-ICU for COVID patients will accelerate market growth in the region.
The global tele-intensive care unit (ICU) industry is highly competitive in nature as large number of well-established telehealth service providers are operating in this industry. Industry players are focused on developing novel technologies which will further increase the overall growth of the market in the coming years.
Key Segments of the Global Tele-Intensive Care Unit (ICU) Market
Type Overview, 2018-2028 (USD Million)
- Open with Consultants
Component Overview, 2018-2028 (USD Million)
- Therapeutic Devices
- Computer Systems
- Communication Panels
- Video Display Panels
Regional Overview, 2018-2028 (USD Million)
- North America
- United Kingdom
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
Important Companies in Global Tele-Intensive Care Unit (ICU) Market
- Advanced ICU Care (Hicuity Heath)
- Eagle Telemedicine
- Banner Health
- Koninklijke Philips N.V.
- Intouch Technologies, Inc.
- Apollo Tele Health
- SOC Telemed
Reasons for the study
- Increase in prevalence of chronic disorders across the globe
- Advantages offered by tele-ICUs
What does the report include?
- The study on the global tele-intensive care unit (ICU) market includes qualitative insights such as drivers, restraints, challenges and opportunities
- Additionally, the market has been evaluated using the Porter’s Five Forces analysis
- The study covers qualitative and quantitative analysis of the market segmented on the basis of type, and component. Moreover, the study on tele-intensive care unit (ICU) market provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments
- The study includes the profiles of key players operating in the market with a significant global and/or regional presence
Who should buy this report?
- The report on the global tele-intensive care unit (ICU) market is suitable for all the players across the value chain including raw material suppliers, diagnostic centers, laboratories, manufacturers, healthcare organizations, distributors, suppliers and technology geeks
- Venture capitalists and investors looking for more information on the future outlook of the global tele-intensive care unit (ICU) market
- Consultants, analysts, researchers, and academicians looking for insights shaping the global tele-intensive care unit (ICU) market