Global Tele-Intensive Care Unit (ICU) Market, By Product Type (Disease Insurance, Medical Insurance, Income Protection Insurance), Application (Cancer, Heart Attack, Stroke) – Industry Trends and Forecast to 2030.
Tele-Intensive Care Unit (ICU) Market Analysis and Size
The growth in the geriatric population across the globe and the increasing need for remote monitoring acts as the factors driving the tele-intensive care unit (ICU) market. The rise in the popularity of these services owing to the features such as real-time monitoring and remote access to patient data and the benefits offered including decreased clinical decision time and facilitating efficient healthcare delivery accelerate the tele-intensive care unit (ICU) market growth. The increasing utilization of these systems to enhance patient care, high adoption rate due to reduced length of hospital stay and surge in the number of surgeries that require intensive care influence the tele-intensive care unit (ICU) market. The increase in the prevalence of chronic diseases among the population such as cancer and neurological disorders and the rising use of therapeutic devices in ICU also propels the tele-intensive care unit (ICU) market. Additionally, the growth in population globally, rise in awareness, surge in healthcare expenditure, and improving healthcare infrastructure positively affect the tele-intensive care unit (ICU) market.
Data Bridge Market Research analyses that the tele-intensive care unit (ICU) market which was USD 2165.76 Million in 2022, would rocket up to USD 4,973.68 Million by 2030, and is expected to undergo a CAGR of 17.64% during the forecast period. This indicates that the market value. “Decentralized Models,” dominates the type segment of the Tele-Intensive Care Unit (ICU) market owing to the increasing need for remote monitoring. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Tele-Intensive Care Unit (ICU) Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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By Product Type (Disease Insurance, Medical Insurance, Income Protection Insurance), Application (Cancer, Heart Attack, Stroke)
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Countries Covered
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U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East and Africa)
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Market Players Covered
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InTouch Technologies Inc. (U.S.), Advanced ICU Care (U.S.), Koninklijke Philips N.V. (Netherlands), UPMC (University of Pittsburgh Medical Center) (U.S.), Banner Health (U.S.), Eagle Telemedicine (U.S.), Apollo Tele Health Services (India), SOC Telemed (U.S.), INTeleICU (U.S.), iMDsoft (Israel), Inova (U.S.), CEIBA-TELEICU (Spain), Mid-Atlantic Telehealth Resource Center (U.S.), Cerner Corporation (U.S.)
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Market Opportunities
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Market Definition
Tele-intensive care ICU (tele-ICU) refers to an application of telemedicine that deals with the critical care of a patient in a hospital. Tele-ICU helps in connecting the critical care team at a distant location with the bedside ICU team through audio-visual communication and monitoring systems. This system consists of hardware that collects the patient's data and then transmits it from the remote ICU to the physician at a distant location with the help of a command center. The data collected and transmitted by the ICU system comprises the patient's physiological status, treatment, and medical records.
Tele-Intensive Care Unit (ICU) Market Dynamics
Drivers
- Increasing Demand for ICU Services
The growing prevalence of chronic diseases, the aging population, and advancements in critical care have led to an increased demand for ICU services, driving the adoption of tele-ICU solutions.
- Shortage of Intensivists
There is a shortage of intensivists, especially in rural and remote areas. Tele-ICU enables remote monitoring and consultation, allowing intensivists to provide care to multiple ICUs simultaneously.
Opportunities
- Expansion in Underserved Areas
Tele-ICU presents an opportunity to extend critical care services to underserved areas with limited access to specialized healthcare facilities.
- Collaboration and Knowledge Sharing
Tele-ICU facilitates collaboration and knowledge sharing among healthcare professionals across different locations, enabling the exchange of expertise and best practices.
Restraints/ Challenges
- Infrastructure and Connectivity Challenges
Reliable and high-speed internet connectivity is crucial for successful tele-ICU implementation. In areas with limited infrastructure, connectivity issues may hinder the delivery of real-time data and video communication.
- Resistance to Change
The adoption of tele-ICU may face resistance from healthcare professionals who are unfamiliar with remote monitoring technologies or hesitant to change their traditional care delivery methods.
This Tele-Intensive Care Unit (ICU)market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the Tele-intensive care unit (ICU)market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Development
- In November 2022, Nassau Financial Group announced that it entered into a binding agreement with Delaware Life Insurance Company to buy the Delaware Life Insurance Company of New York
- In July 2020, Liberty General Insurance launched ‘Critical Connect’ where one can choose from two programs for a sum insured ranging from Rs 1 lakh up to Rs. 1 crore. If the customer opts for plan A, he or she can choose Critical Illness Bundles Covering 9, 25, or 43 critical illnesses. Whereas, plan B offers disease-specific bundles such as Heart Protect, Cancer Protect, Renoliv Protect, and Brain Protect. With this launch, the company has enhanced its offering to the customers for Tele-Intensive Care Unit (ICU).
Global Tele-Intensive Care Unit (ICU)Market Scope
Tele-intensive care unit (ICU) market is segmented on the basis of product type, application. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
Product Type
- Disease Insurance
- Medical Insurance
- Income Protection Insurance
Application
- Cancer
- Heart Attack
- Stroke
Tele-Intensive Care Unit (ICU) Market Regional Analysis/Insights
The tele-intensive care unit (ICU) market is analyzed and market size insights and trends are provided by country, product type, and application as referenced above.
The countries covered in the Tele-Intensive Care Unit (ICU)market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina, and Rest of South America as part of South America.
North America is expected to dominate the tele-intensive care unit (ICU) market because of the presence of strong IT infrastructure and exceptional internet connectivity in the region.
Asia-Pacific is expected to witness significant growth during the forecast period of 2023 to 2030 due huge target population and advancement of the healthcare system by the government in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
Tele-Intensive Care Unit (ICU) market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment’s, installed base of different kind of products for Tele-Intensive Care Unit (ICU)market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the Tele-Intensive Care Unit (ICU)market. The data is available for historic period 2015-2020.
Competitive Landscape and Tele-Intensive Care Unit (ICU) Market Share Analysis
The tele-intensive care unit (ICU) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to tele-intensive care unit (ICU) market. Some of the major players operating in the tele-intensive care unit (ICU) market are:
- InTouch Technologies Inc. (U.S.)
- Advanced ICU Care (U.S.)
- Koninklijke Philips N.V. (Netherlands)
- UPMC (University of Pittsburgh Medical Center) (U.S.)
- Banner Health (U.S.)
- Eagle Telemedicine (U.S.)
- Apollo Tele Health Services (India)
- SOC Telemed (U.S.)
- INTeleICU (U.S.)
- IMDsoft (Israel)
- Inova (U.S.)
- CEIBA-TELEICU (Spain)
- Mid-Atlantic Telehealth Resource Center (U.S.)
- Cerner Corporation (U.S.)
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