New York, USA, Jan. 18, 2023 (GLOBE NEWSWIRE) -- Tele-Intensive Care Unit Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Tele-Intensive Care Unit Market Information By Component, Type of Management, And Region - Forecast till 2030", the market is expected to reach USD 8.5 Billion by 2030 at 15.9% CAGR during the forecast period 2022-2030.
Market Synopsis
A telemedicine service that focuses on a patient's critical treatment in a hospital is called "tele-intensive care ICU." Tele-ICU aids in creating a connection between the intensive care group at a remote site and the bedside ICU staff through audio-visual communications and monitoring systems. This system is made up of technology that collects patient data from the distant ICU and communicates it to the doctor at a separate location via a command center. The ICU system gathers and communicates data, including the patient's physiological status, medical history, and current treatments.
The market for tele-intensive care units (ICUs) is driven by the growing geriatric population in the world and the demand for remote monitoring. Due to benefits like real-time monitoring and immediate accessibility to patient data, characteristics like quicker clinical decision-making processes, and more efficient healthcare delivery, the tele-intensive care unit (ICU) business is growing in popularity. The market for tele-intensive care units (ICUs) is influenced by the growing use of these systems to improve patient care, the high acceptance rate due to shorter hospital stays, and the rise in the number of procedures requiring intensive care.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | 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 | By Component, Type of Management |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Increasing incidences of critical illnesses |
| The growing geriatric population |
Tele-Intensive Care Unit Market Competitive Landscape:
The crucial companies in the tele-intensive care unit (ICU) market are:
- Inova (U.S.)
- Inteleicu (India)
- Eagle Telemedicine
- UPMC
- Imdsoft
- Intouch Technologies Inc. (U.S.)
- Koninklijke Philips NV (Netherlands)
- Advanced ICU Care (U.S.)
- SOC Telemed
- Banner Health
Tele-Intensive Care Unit Market Dynamics:
Market Drivers:
Market expansion is projected to be fueled by elements like a rise in global surgical operations and remote patient monitoring demand. Additionally, it is projected that the target audience's increased prevalence of chronic diseases and the aging population will fuel market expansion during the projection period. The market's primary driving forces have been the rising need for remote monitoring and the aging population. The main characteristics of these services include ongoing real-time monitoring and virtual access to patient data. This shortens the time needed for clinical decisions and promotes effective healthcare delivery. Additionally, the use of these devices compromises patient care. The remote critical care units' main selling point is their shorter length of stay (ICU).
The typical decrease in hospital stays lessens the patient's needless burdens. The need for software components is projected to be driven by the increasing demand for rapid software advancements and accessibility to newer versions. Although expensive, hardware components are widely used in the market. Due to its effectiveness in managing patient-related problems, the intensivist paradigm is gaining popularity. Hospitalization of patients is anticipated to increase as the aging population fuels an increase in health-related problems, particularly cardiovascular and neurological illnesses. The market for tele-intensive care units is anticipated to grow due to this hospitalization, likely to result in some surgery requiring intensive care.
Market Restraints:
Due to high setup and treatment costs, it is challenging for nations to finance telemedicine's high initial capital needs, impeding the market's expansion.
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COVID 19 Analysis
Innovative strategies are needed to involve residents in treating severely ill COVID-19 patients as the epidemic spreads worldwide. Telemedicine is one of the cutting-edge technologies that is receiving much attention right now because of the pandemic. Numerous initiatives and implementations relating to tele ICU have been made by different government agencies and market players, and these are projected to fuel market expansion. Additionally, characteristics like effective communication, display screens, physiological monitoring, and other crucial hardware elements are improving the general standard of medical care.
The tele-intensive care unit is being used by an increasing number of multispecialty hospitals worldwide, which lowers treatment costs and duration of stay overall. As a result, the doctors and the patients are happy with the services. The development of the tele-intensive care unit business during the epidemic has been adversely affected by the potential barriers brought on by the pandemic, trade restrictions, and other interruptions. The pandemic restricted or stopped the use of non-essential operations and treatments, which impacted the expansion of the tele-intensive care unit market.
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Tele-Intensive Care Unit Market Segmentation
By type of management, the market includes intensivist, open, co-managed, and open with a consultant.
By component the market includes components and software.
Tele-Intensive Care Unit Market Regional Insights
North America had the most revenue in the market. The presence of high-speed internet connectivity, I.T. equipment, and dependable communication networks in the area has led to market expansion. In addition, there are several well-known telehealth providers in the United States, and the use of remote monitoring devices is growing.
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Because of the enormous target population and the improvement of the healthcare system by the local government, Asia-Pacific is anticipated to experience the greatest CAGR over the projection period. The proportion of intensive care units with modern software and hardware is greater in European countries. Additionally, the regions invest heavily in research and updating facilities because of the improving economic climate. Since telemedicine has shown great success rates in patients receiving critical care, its function as a therapeutic tool in the ICU cannot be avoided. Therapeutic gadgets are a crucial link in the delivery of higher-quality healthcare between local and large hospital systems. Over the projected term, this is anticipated to fuel segment expansion.
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