Global Tele Intensive Care Unit Market, By Component (Hardware, Software and Services), Type of Management (Intensivist, Open, Co-managed, Open with Consultants, and Other Types of Management) - Industry Trends and Forecast to 2029
Market Analysis and Size
Around 960 million people over the age of 60 lived in the world as of 2017, according to figures released by the U.N. This represents 13.0 percent of the world's population. 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.
Data Bridge Market Research analyses that the tele intensive care market which was USD 2.92 billion in 2021, would rocket up to USD 10.61 billion by 2029, and is expected to undergo a CAGR of 17.50% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Report Scope and Market Segmentation
|
Report Metric
|
Details
|
|
Forecast Period
|
2022 to 2029
|
|
Base Year
|
2021
|
|
Historic Years
|
2020 (Customizable to 2014 - 2019)
|
|
Quantitative Units
|
Revenue in USD Billion, Volumes in Units, Pricing in USD
|
|
Segments Covered
|
Component (Hardware, Software and Services), Type of Management (Intensivist, Open, Co-managed, Open with Consultants, and Other Types of Management)
|
|
Countries Covered
|
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
|
|
Market Players Covered
|
InTouch Technologies, Inc. (U.S.), Advanced ICU Care (U.S.), Koninklijke Philips N.V. (Netherlands), UPMC (U.S.), Banner Health (U.S.), Eagle Telemedicine (U.S.), Apollo Tele Health Services (India), SOC Telemed (U.S.), INTeleICU (India), Advanced ICU Care (U.S.), INOVA (U.S.), Banner Health (U.S.), iMDsoft (Israel), InTouch health (U.S.), Tele-ICU (Japan), and VISICU (U.S.)
|
|
Market Opportunities
|
|
Market Definition
A telemedicine application called Tele-Intensive Care ICU (Tele-ICU) deals with the critical care of a patient in a hospital. With audiovisual communication and monitoring equipment, tele-ICU helps connect the bedside ICU staff with the critical care team at a remote site. A Tele-ICU system consists of hardware that gathers patient data and transmits it via a command centre from the remote ICU to the physician at a different location.
Tele Intensive Care Unit Market Dynamics
Drivers
- Increase in number of critical care units
In the upcoming years, it is projected that an increase in the number of critical care units around the world and constant technological improvements in remote patient monitoring technologies will propel the market for tele intensive care units. The market for Tele-ICU is anticipated to expand during the forecast period due to an increase in chronic disease cases and the necessity to shorten hospital stays.
- Increasing investment for healthcare infrastructure
The demand for software components is anticipated to be driven by the increasing demand for frequent 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.
- Rise in the geriatric population
Rising geriatric population, especially in developed economies, increases chances of growth in this market, as people suffer from different health problems with age. Therefore, large populace base of geriatric population might further expand the growth in this market.
Opportunities
- Increase in the number of research and development activities
Demand for tele intensive care units has increased due to the number of patients with chronic illnesses. The need for tele intensive care units has also increased due to the growing inclination for shorter hospital stays achieved through innovative technologies. It assists in alerting doctors with alerts and vital sign variation, which is another important reason driving demand in the market.
Restraints/Challenges
On the other hand, the high cost associated with drug development and distribution will obstruct the market's growth rate. The dearth of skilled professionals and lack of healthcare infrastructure in developing economies will challenge the market.
This tele intensive care 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 market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Tele Intensive Care Unit Market
Innovative strategies are needed to involve residents in the care of severely ill COVID-19 patients as the epidemic spreads throughout the world. Telemedicine is one of the cutting-edge technologies that is receiving a lot of 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.
Global Tele Intensive Care Unit Market Scope
The tele intensive care market is segmented on the basis of component and type. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Component
- Hardware
- Computer System
- Communication Lines
- Physiological Monitors
- Therapeutic Devices
- Video Feed
- Display Panels
- Software
Type
- Intensivist
- Co-managed
- Open
- Open With Consultants
Tele Intensive Care Unit Market Regional Analysis/Insights
The tele intensive care market is analysed and market size insights and trends are provided by country, component and type as referenced above.
The countries covered in the tele intensive care 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 dominate the market owing to the presence of strong I.T. infrastructure and exceptional internet connectivity.
Asia-Pacific is anticipated to witness significant growth over the forecast period of 2022-2029.
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.
Competitive Landscape and Tele Intensive Care Unit Market Share Analysis
The tele intensive care 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 market.
Some of the major players operating in the tele intensive care market are:
- InTouch Technologies, Inc. (U.S.)
- Advanced ICU Care (U.S.)
- Koninklijke Philips N.V. (Netherlands)
- UPMC (U.S.)
- Banner Health (U.S.)
- Eagle Telemedicine (U.S.)
- Apollo Tele Health Services (India)
- SOC Telemed (U.S.)
- INTeleICU (India)
- Advanced ICU Care (U.S.)
- INOVA (U.S.)
- Banner Health (U.S.)
- iMDsoft (Israel)
- InTouch health (U.S.)
- Tele-ICU (Japan)
- VISICU (U.S.)
SKU-