The Tele-Intensive Care Unit Market is expected to reach USD 8.5 Billion by 2030 at 15.9% CAGR during the forecast period 2022-2030. The tele-intensive care unit industry is computerized and connected through advanced technologies and enables connectivity in different hospitals regardless of the distance. The tele-ICUs enable the critical care team to monitor the patients using real-time audio, visual and electronic medium and are equipped with advanced clinical resources. The growing geriatric population and the increasing incidences of critical illnesses are some of the major market growth drivers of tele-intensive care unit.
The tele-ICU services are effective in the medical services and about 6 million patients are acquiring these treatments across the US while spending about USD 80 billion and have showcased benefits such as lower mortality, decreased morbidity, improved diagnostics, decreased length of the hospital stay, and potential saving in terms of costs. Such factors have aided the overall growth of the tele-intensive care unit industry across the globe.
Tele-Intensive Care Unit Market COVID 19 Analysis:
During the pandemic, there was serious distress across the industrial sectors and commercial sectors. The potential obstacles due to the pandemic and the trade restrictions and other disruptions have negatively influenced the growth of the tele-intensive care unit industry during the pandemic.
The non-essential surgeries and treatment were reduced or halted during the pandemic, which has affected the growth of the tele-intensive care unit industry during the pandemic.
Tele-Intensive Care Unit Market Dynamics:
Market drivers:
The economic effects and the costs of the intensive care delivery systems with the help of potential resources are some of the major drivers of the tele-intensive care unit industry. the reduced follow-up costs of the ICU survivors and the higher quality of delivered care and the long-term care facilities are considered the major drivers of the tele-intensive care unit industry.
The higher implementation costs compared with the savings per patient and the reduction of mortality are considered primary drivers of the tele-intensive care unit industry.
Tele-Intensive Care Unit Market opportunities:
The enhanced workflow, quality care, efficiency, and organizational structures are expected to provide a promising outcome and thereby expected to propel the overall growth of the tele-intensive care unit industry during the forecast period.
The telemedicine programs and the efficient audio visual communication and the advanced monitoring devices which helps in collecting the ICU systems collect and transmit the physiological status and condition of the patients are considered the major factors that are expected to propel the overall growth of the tele-intensive care unit industry during the forecast period.
Market restraints:
With the increasing number of stringent regulations and laws across the developed countries, to carry out the medical treatment efficiently, the medical facilities must imbibe these laws and standards. Such factors are considered the major restraints of the tele-intensive care unit industry.
The inadequate resources, higher implementation costs, scarcity of the resources, labor availability, sluggish deliveries, and significant others are considered the major restraints of the tele-intensive care unit industry.
Tele-Intensive Care Unit Market challenges:
The requirement of higher capital costs for the advanced software solutions and hardware components and the higher maintenance costs along with the higher operational costs are considered the major challenge for the overall growth of the tele-intensive care unit industry.
The limited number of skilled staff to operate the advanced machines and to establish effective connectivity between the components and the networking issues that might arise during the process are some of the key challenges for the overall growth of the tele-intensive care unit industry.
Tele-Intensive Care Unit Market Cumulative Growth Analysis:
The market value of the tele-intensive care industry was at USD 3.55 billion in the year 2021 and it is expected to surpass the market value of over USD 9.05 billion by the year 2028 while registering a CAGR of 16.1% during the forecast period. The growth of the tele-intensive care unit industry is influenced by the advanced technologies in the market and the presence of high acuity telemedicine service providers across the globe. The key market players are working strategically and partnering up with the recognized players and therefore able to bring in a higher volume of regional work.
With the help of the telemedical solutions, these health care centers are sharing their routines and clinical expertise for the uncommon diseases and they emphasize the preventive measures in such areas. Therefore the advent of a virtual center and efficient connection between the units have enabled the participants to achieve tele-intensive care with decreased mortality rate, decreased number of readmission, enhanced diagnosis, increased quality of ICU life, Potential cost savings, and significant others. such factors are considered the major drivers of tele-intensive care unit market growth.
Tele-Intensive Care Unit Market Value Chain Analysis:
The growth of the tele-intensive care unit industry is influenced by the rising concern related to health-related conditions and serious conditions. The patients are also demanding enhanced medication due to their economic condition. Moreover, the features such as efficient communication, display panels, physiological monitors, and other key hardware components are enhancing the overall quality of the medical treatment. The growing number of multispecialty hospitals across the globe are utilizing the tele-intensive care unit and thereby reducing the cost of the treatments and the length of the stay as well. thereby the patients and the doctors are satisfied with the services.
The primary factor is the growing geriatric population and unhealthy lifestyle, conditions like obesity, heart problems, and other factors are fuelling the growth of the tele-intensive care unit industry in recent times. The potential innovation in the industry and the customer focus strategies, modernization, and efficient data handling are considered the major drivers of the tele-intensive care unit industry. the data obtained from the machines undergo significant analysis and help in taking a better decision and therefore propelling the overall growth of the tele-intensive care unit industry.
Tele-Intensive Care Unit Market Segment overview:
Based on services:
Hardware
Therapeutic Devices
Communication Lines
Computer Systems
Physiological Monitors
Display Panels
Video Feed
Others
Software
Based on management:
Intensivist
Open
Co-managed
Open with Consultant
Others
Based on type:
Surgical robots
Rehabilitation robots
Emergency response and utility robots
Others
Based on the type of ICU:
Cardiac Care unit
Pediatric ICU
Trauma ICU
Post-anesthesia ICU
High-dependency ICU
Traditional medical ICU
Others
Tele-Intensive Care Unit Market Regional analysis:
Currently, North America is holding the highest market value in the tele-intensive care unit industry and the region is expected to continue its growth during the forecast period, due to the presence of leading market players and the increasing adoption of the advanced technologies.
Moreover, countries like North America, and European countries possess a higher number of intensive care units with well-equipped software solutions and hardware components. Also, the regions are very much into the research and upgrading their research institutes due to the growing economical condition.
Tele-Intensive Care Unit Market Competitive landscape:
Inova (US)
INTeLeICU (India)
InTouch Technologies Inc. (US)
Koninklijke Philips NV (Netherlands)
Advanced ICU Care (US)
SOC Telemed
Eagle Telemedicine
UPMC
iMDsoft
Banner health
Recent developments:
In the year 2019, one of the leading market players, Royal Philips introduced a telemedicine intensive care unit that is designed to enhance the medical treatments offered to high-risk patients. The qualities of the services and the real-time connection have enabled the caretakers to monitor real-time and enhance the medical services very effectively.
In the year 2019, one of the leading market players, Philips had launched an eICU program that operates on the tele-ICU software and posses e manager facility as well.
Report Overview:
This report has covered:
Market overview
COVID 19 Analysis
Market dynamics
Cumulative growth analysis
Value chain analysis
Segment overview
Regional analysis
Competitive landscape
Recent developments
| Report Attribute/Metric | Details |
| Market Size | USD 8.5 Billion |
| CAGR | 15.9% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Component, Type of Management |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | Inteleicu1, Apollo TeleHealth Services, Eagle Telemedicine, Koninklijke Philips N.V., Teleicucare, Banner Health, UPMC, Advanced Icu Care, SOC Telemed, and Intouch Technologies, Inc. |
| Key Market Opportunities | Technological Advancements |
| Key Market Drivers | Technological advances in the healthcare sector, rising prevalence of chronic and neurological disorders, and increasing geriatric population |
Tele Intensive Care Unit Market Highlights:
Frequently Asked Questions (FAQ) :
The tele-intensive care unit market is projected to grow at a 15.9% CAGR between 2022-2030.
The Americas is predicted to spearhead the tele-intensive care unit market.
Key competitors in the tele-intensive care unit market include Inteleicu1, Apollo TeleHealth Services, Eagle Telemedicine, Koninklijke Philips N.V., Teleicucare, Banner Health, UPMC, Advanced Icu Care, SOC Telemed, and Intouch Technologies, Inc.
Technological advances in the healthcare sector, rising prevalence of chronic and neurological disorders, and increasing geriatric population are driving market growth.
Lack of favorable reimbursement policies and high cost of establishments of ICU may impede market growth.
Research Analyst Level I He is an extremely curious individual currently working in healthcare and medical devices domain. kinjoll is comfortably versed in data centric research backed by healthcare educational background. he leverages extensive data mining and analytics tools such as primary and secondary research, statistical analysis, machine learning, data modelling. his key role also involves technical sales support, client interaction and project management within the healthcare team. lastly, he showcases extensive affinity towards learning new skills and remain fascinated in implementing them.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
