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Tele Intensive Care Unit (ICU) Market: Description
Tele-intensive care ICU is an application of telemedicine, used to facilitate the treatment of a patient who requires critical care within the hospital. Tele-ICU aids by connecting the ICU team from any inaccessible location to the bedside critical care team using audio-visual communications and monitoring equipment. The system comprises of devices that collect the patient's data and sends the information from remote ICU to the doctor at a distant location through a command centre. The information gathered and transmitted through the ICU system includes the patient's medical condition along with treatment documents.
Source: WMR
Tele Intensive Care Unit (ICU) Market: Overview
The Global Tele Intensive Care Units (ICU) Market Size Is Projected to reach a valuation of USD 10,660 Million by 2033, at a CAGR of 14.28% Over The Forecast Period of 2023 to 2033.
Tele Intensive Care Units Market growth is driven by the increasing geriatric population and escalating demand for remote monitoring. These services are gaining immense popularity due to their features like remote access to patient data and real-time monitoring. This has led to a rise in popularity and increased market growth for Tele Intensive Care Units. These systems are being promptly used to improve patient care and are recording a high adoption rate as they can be used quickly. Additionally, there has been a sharp rise in the number of intensive care surgeries globally. This in turn is helping the Tele Intensive Care Units Market to gain traction The Tele Intensive Care Units Market development will also be propelled by an increase in intensive care units worldwide and technological advances in remote patient monitoring technologies. Alongside, the Tele Intensive Care Units Market is expected to showcase lucrative expansion trends owing to steep rise in the occurrence of chronic diseases and need for shorter hospital stays.
Source: WMR
Typically, a Tele ICU system can cost anywhere from USD 2,000 to USD 6,000 per monitored bed per month depending on various factors such as the technology used, the size of the ICU, and the location of the healthcare facility. This includes the cost of the hardware and software required for remote monitoring of patients, as well as the cost of the staff required to operate and maintain the system. However, the cost of implementing a Tele ICU system can also depend on the specific needs and requirements of the healthcare facility. For example, some facilities may require additional customization or integration with their existing electronic health record (EHR) system, which can increase the cost. A Tele ICU system can be expensive to implement, it can also provide significant benefits, such as improved patient outcomes, reduced length of stay, and cost savings over time. Healthcare facilities should carefully consider their specific needs and budget constraints when evaluating Tele ICU solutions.
Tele Intensive Care Unit (ICU) Market: Key Trends
Therapeutic Device Sub-Segment is anticipated to hold the major share in the Hardware Segment
The therapeutic device sub-segment is anticipated to have a substantial market share. Since telemedicine has witnessed high success rates in patients needing critical care, the role of telemedicine through the therapeutic device is undeniable. Therapeutic devices have emerged as a valuable link between large and small hospitals to deliver high-quality healthcare. Therapeutic devices have acquired success in diagnosis, transferring cancer/neurological examinations, and consultations, across various developed countries. Therapeutic devices play a primary role and are highly useful in the decentralized tele-ICU. The first dedicated Robot-Assisted Cardiac Surgery Unit was launched by Apollo Hospital Bangalore in India in 2019.
Rising Numbers of Geriatric Population and Chronic Disease Patients Have increased the demand
Growing numbers of patients suffering from chronic diseases have augmented the demand for the global tele-intensive care unit (ICU) market. Additionally, rising preference for shorter stays in hospital with the help of advanced healthcare technologies has also fueled the demand for the tele intensive care unit (ICU) market. Another key factor that has boosted market demand is that this application helps in vital sign deviation and alerts clinicians with alarms. Furthermore, growing geriatric population in developed countries is likely to augment market growth, as old age people tend to suffer from various health issues. Therefore, a huge populace base of the geriatric population is anticipated to contribute to a significant market expansion in the ensuing years.
Tele Intensive Care Unit (ICU) Market: COVID 19 Impact
The COVID-19 pandemic is spreading across the globe, and advanced methods are needed to treat the severely affected patients. Telemedicine is among the latest technologies receiving a lot of attention during the current pandemic. Numerous initiatives and steps have been taken by various government agencies as well as market players involved in tele ICU which in turn is expected to propel the market's growth. In July 2020, physician anaesthesiologists of the New Hampshire Society of Anaesthesiologists (NHSA) created a Tele-intensive Care Unit (Tele-ICU) hub that is intended to work with doctors in rural hospitals to ensure that patients infected across the state receive the best critical expert care for free, while being treated within Chicago. In August 2020, Advanced ICU Care launched the comprehensive tele-ICU services in partnership with the CentraState Medical Center in New Jersey. In light of these aspects, this pandemic is expected to have a positive impact on the industry examined.
Tele Intensive Care Unit (ICU) Market: Segmentation Analysis
Key Players:
InTouch Technologies, Inc.
UPMC
Banner Health
Apollo Tele Health Services
SOC Telemed
INTeleICU
TeleICUCare
Eagle Telemedicine
Advanced ICU Care
Koninklijke Philips N.V.
Tele Intensive Care Unit (ICU) Market based on model type
Centralized Models
Decentralized Models
Others
The centralized market was accounted for capturing a high market share of 52.5% in 2022 and is anticipated to showcase similar expansion trends over the forecast duration.
Source: WMR
Tele Intensive Care Unit (ICU) Market based on Component
Hardware
o Computer System
o communication lines
o physiological monitors
o therapeutic devices
o video feeds
o display panels
Software & Services
The software segment led the tele intensive care unit (ICU) market and accounted for a major share of the global revenue in 2020. This high share is attributed to the availability of new versions and frequent upgradation. In 2017, eCare Manager 4.1 telehealth software was launched by Philips, the global leader in health technology, at the American Telemedicine Association (ATA) Trade Show. This software helps to enhance clinical decision support.
Tele Intensive Care Unit (ICU) Market based on Management Type
Intensivist
Open
Co-Managed
Open with Consultants
Others
The intensivist model segment dominated the market for tele intensive care Unit (ICU) and held the largest revenue share in 2022. The segment is expected to maintain its dominance over the forecast period. This growth can be credited to the intensivist model attributes, like the deployment of full-time intensive care experts to manage the tele-ICU system. The intensivist model provides effective clinical decisions in order to tackle any sort of complications. The widespread availability of Intensivists has been boosting the segmental growth thereby leading to an overall market progression over the forecast duration.
Tele Intensive Care Unit (ICU) Market: Regional Analysis
Regionally, Asia Pacific dominated the market and accounted for a significant global revenue share in 2022. It is expected to register substantial growth with a CAGR of 21.6% over the forecast period. This high growth is attributed to the population expansion in emerging countries like India, China and South Korea and favorable government policies for the betterment of the healthcare system. These factors are positively swaying the market dynamics in this region. Moreover, the widespread adoption of supporting medical device electronics, specifically remote human-machine interface devices, are expected to boost the market expansion in Asia Pacific region.
Report Scope
Tele Intensive Care Unit (ICU) Market Forecast Year: 2023-2033
Tele Intensive Care Unit (ICU) Market 2022: USD 1,940 Million
Tele Intensive Care Unit (ICU) Market 2033: USD 10,660 Million
Tele Intensive Care Unit (ICU) Market CAGR: 14.28%
Key Regions and Countries: North America, Europe, Asia Pacific, LAMEA
Key Segments: Components, Types of Management and model type
1. Global Tele Intensive Care Unit (ICU) Market Introduction and Market Overview
1.1. Objective of the Market Research Study
1.2. Tele Intensive Care Unit (ICU) Market Definition & Description
1.3. Research Data Parameters & Reporting Timelines
1.3.1. Historical Data Reporting Years 2020 to 2021
1.3.2. Projected Data Reporting Years 2023 to 2033
1.3.3. Reporting Data Parameters Value (US$ Million)
1.4. Global Tele Intensive Care Unit (ICU) Market Scope and Market Estimation
1.4.1. Global Tele Intensive Care Unit (ICU) Overall Market Size (US$ Million), Market CAGR (%), Market Estimates & Forecast (2020 to 2033)
1.4.2. Global Tele Intensive Care Unit (ICU) Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2020 to 2033
1.5. Tele Intensive Care Unit (ICU) Market Segmentation
1.5.1. Model Type of Global Tele Intensive Care Unit (ICU) Market
1.5.2. Component of Global Tele Intensive Care Unit (ICU) Market
1.5.3. Management Type of Global Tele Intensive Care Unit (ICU) Market
1.5.4. Key Regions of Global Tele Intensive Care Unit (ICU) Market
2. Global Tele Intensive Care Unit (ICU) Market - Executive Summary
2.1. Global Tele Intensive Care Unit (ICU) Market Summary & Snapshot
2.2. Global Tele Intensive Care Unit (ICU) Market, By Model Type (US$ Million)
2.3. Global Tele Intensive Care Unit (ICU) Market, By Component (US$ Million)
2.4. Global Tele Intensive Care Unit (ICU) Market, By Management Type (US$ Million)
2.5. Global Tele Intensive Care Unit (ICU) Market, By Geography (US$ Million)
2.6. Global Tele Intensive Care Unit (ICU) Market Outlook & Future Opportunities
3. Tele Intensive Care Unit (ICU) Market Trends, Outlook, and Factors Analysis
3.1. Global Tele Intensive Care Unit (ICU) Market Industry Development Trends under COVID-19 Outbreak
3.1.1. Global COVID-19 Status Overview
3.1.2. Influence of COVID-19 Outbreak on Global Tele Intensive Care Unit (ICU) Market Industry Development
3.1.3. Pre & Post COVID-19 Trends and Scenarios
3.2. Tele Intensive Care Unit (ICU) Market Dynamics (Growth Impacting Factors & Rationales)
3.2.1. Drivers
3.2.1.1. Increasing demand for continuous access and remote monitoring care
3.2.1.2. Rise in Volume of Surgical Procedures Worldwide
3.2.1.3. Increasing burden of chronic disease and demand for refined treatment options
3.2.1.4. Driver 4
3.2.1.5. Driver 5
3.2.2. Restraints
3.2.2.1. High setup cost and costly treatment
3.2.2.2. Restraint 2
3.2.3. Opportunities
3.2.3.1. Advances in Wireless Biosensor technology
3.2.3.2. Opportunity 2
3.2.3.3. Opportunity 3
3.2.4. Impact Analysis of Drivers and Restraints
3.3. Ecosystem/ Value Chain Analysis
3.4. Porters Five Forces Analysis
3.5. SWOT Analysis
3.6. PEST Analysis
3.7. Average Selling Prices and Pricing Trends Analysis of Tele Intensive Care Unit (ICU) Market
3.8. Technological Roadmap
3.9. Key Investment Pockets of Tele Intensive Care Unit (ICU) Market
3.9.1. By Model Type
3.9.2. By Component
3.9.3. By Management Type
3.9.4. By Regions
4. Global Tele Intensive Care Unit (ICU) Market: Estimates & Historic Trend Analysis (2020 to 2021)
4.1. Global Tele Intensive Care Unit (ICU) Market, 2018 2021 (US$ Million)
4.2. Global Tele Intensive Care Unit (ICU) Market, By Model Type, 2020 to 2021 (US$ Million)
4.3. Global Tele Intensive Care Unit (ICU) Market, By Component, 2020 to 2021 (US$ Million)
4.4. Global Tele Intensive Care Unit (ICU) Market, By Management Type, 2020 to 2021 (US$ Million)
4.5. Global Tele Intensive Care Unit (ICU) Market, By Region, 2020 to 2021 (US$ Million)
5. Global Tele Intensive Care Unit (ICU) Market Estimates & Forecast Trend Analysis, by Model Type
5.1. Global Tele Intensive Care Unit (ICU) Market Share (%) Estimates and Forecasts, by Model Type, 2022 & 2033
5.2. Global Tele Intensive Care Unit (ICU) Market Revenue (US$ Million) Estimates and Forecasts, by Model Type, 2023 to 2033
5.2.1. Centralized Models
5.2.2. Decentralized Models
5.2.3. Others
6. Global Tele Intensive Care Unit (ICU) Market Estimates & Forecast Trend Analysis, by Component
6.1. Global Tele Intensive Care Unit (ICU) Market Share (%) Estimates and Forecasts, by Component, 2022 & 2033
6.2. Global Tele Intensive Care Unit (ICU) Market Revenue (US$ Million) Estimates and Forecasts, by Component, 2023 to 2033
6.2.1. Hardware
6.2.1.1. Computer System
6.2.1.2. Communication Lines
6.2.1.3. Physiological Monitors
6.2.1.4. Therapeutic Devices
6.2.1.5. Video Feeds
6.2.1.6. Display Panels
6.2.2. Software & Services
7. Global Tele Intensive Care Unit (ICU) Market Estimates & Forecast Trend Analysis, by Management Type
7.1. Global Tele Intensive Care Unit (ICU) Market Share (%) Estimates and Forecasts, by Management Type, 2022 & 2033
7.2. Global Tele Intensive Care Unit (ICU) Market Revenue (US$ Million) Estimates and Forecasts, by Management Type, 2023 to 2033
7.2.1. Intensivist
7.2.2. Open
7.2.3. Co-managed
7.2.4. Open with Consultants
7.2.5. Others
8. Global Tele Intensive Care Unit (ICU) Market Analysis and Forecast, by Region
8.1. Global Tele Intensive Care Unit (ICU) Market Share (%) Estimates and Forecasts, by Region, 2022 & 2033
8.2. Global Tele Intensive Care Unit (ICU) Market Revenue (US$ Million) Estimates and Forecasts, by Region, 2023 to 2033
8.2.1. North America
8.2.2. Europe
8.2.3. Asia Pacific
8.2.4. Middle East and Africa
8.2.5. Latin America
9. North America Tele Intensive Care Unit (ICU) Market: Estimates & Forecast Trend Analysis
9.1. North America Tele Intensive Care Unit (ICU) Market Assessments & Key Findings
9.2. North America Tele Intensive Care Unit (ICU) Market Share (%) Estimates and Forecasts, 2022 & 2033
9.3. North America Tele Intensive Care Unit (ICU) Market Size Estimates and Forecast (US$ Million) (2023 to 2033)
9.3.1. By Model Type
9.3.2. By Component
9.3.3. By Management Type
9.3.4. By Major Country
9.3.4.1. The U.S.
9.3.4.2. Canada
10. Europe Tele Intensive Care Unit (ICU) Market: Estimates & Forecast Trend Analysis
10.1. Europe Tele Intensive Care Unit (ICU) Market Assessments & Key Findings
10.2. Europe Tele Intensive Care Unit (ICU) Market Share (%) Estimates and Forecasts, 2022 & 2033
10.3. Europe Tele Intensive Care Unit (ICU) Market Size Estimates and Forecast (US$ Million) (2023 to 2033)
10.3.1. By Model Type
10.3.2. By Component
10.3.3. By Management Type
10.3.4. By Major Country
10.3.4.1. Germany
10.3.4.2. The U.K.
10.3.4.3. France
10.3.4.4. Italy
10.3.4.5. Spain
10.3.4.6. Rest of Europe (includes all other European countries)
11. Asia Pacific Tele Intensive Care Unit (ICU) Market: Estimates & Forecast Trend Analysis
11.1. Asia Pacific Tele Intensive Care Unit (ICU) Market Assessments & Key Findings
11.2. Asia Pacific Tele Intensive Care Unit (ICU) Market Share (%) Estimates and Forecasts, 2022 & 2033
11.3. Asia Pacific Tele Intensive Care Unit (ICU) Market Size Estimates and Forecast (US$ Million) (2023 to 2033)
11.3.1. By Model Type
11.3.2. By Component
11.3.3. By Management Type
11.3.4. By Major Country
11.3.4.1. China
11.3.4.2. Japan
11.3.4.3. India
11.3.4.4. ASEAN
11.3.4.5. South Korea
11.3.4.6. Rest of Asia Pacific (includes all other Asia Pacific countries)
12. Middle East & Africa Tele Intensive Care Unit (ICU) Market: Estimates & Forecast Trend Analysis
12.1. Middle East & Africa Tele Intensive Care Unit (ICU) Market Assessments & Key Findings
12.2. Middle East & Africa Tele Intensive Care Unit (ICU) Market Share (%) Estimates and Forecasts, 2022 & 2033
12.3. Middle East & Africa Tele Intensive Care Unit (ICU) Market Size Estimates and Forecast (US$ Million) (2023 to 2033)
12.3.1. By Model Type
12.3.2. By Component
12.3.3. By Management Type
12.3.4. By Major Country
12.3.4.1. GCC
12.3.4.2. South Africa
12.3.4.3. Egypt
12.3.4.4. Rest of Middle East & Africa (includes all other Middle East & Africa countries)
13. Latin America Tele Intensive Care Unit (ICU) Market: Estimates & Forecast Trend Analysis
13.1. Latin America Market Assessments & Key Findings
13.2. Latin America Tele Intensive Care Unit (ICU) Market Share (%) Estimates and Forecasts, 2022 & 2033
13.3. Latin America Tele Intensive Care Unit (ICU) Market Size Estimates and Forecast (US$ Million) (2023 to 2033)
13.3.1. By Model Type
13.3.2. By Component
13.3.3. By Management Type
13.3.4. By Major Country
13.3.4.1. Brazil
13.3.4.2. Mexico
13.3.4.3. Rest of Latin America (includes all other Latin America countries)
14. Competitive Landscape
14.1. Tele Intensive Care Unit (ICU) Market Revenue Share Analysis (%), by Major Players (2022)
14.2. Tele Intensive Care Unit (ICU) Market Competition Matrix, by Leading Players
14.3. Tele Intensive Care Unit (ICU) List of Emerging, Prominent and Leading Players
14.4. Major Mergers & Acquisitions, Partnership, Joint Venture, Expansions, Deals, Recent Developments, etc.
15. Company Profiles
15.1. InTouch Technologies, Inc.
15.1.1. Company Overview & Insights
15.1.2. Financial Performance
15.1.3. Product / Service Portfolio
15.1.4. Geographical Footprint & Share
15.1.5. Strategic Initiatives & Key Developments
*Similar details would be provided for all the players mentioned below
15.2. Advanced ICU Care
15.3. Koninklijke Philips N.V.
15.4. UPMC
15.5. TeleICUCare
15.6. Eagle Telemedicine
15.7. Apollo Tele Health Services
15.8. SOC Telemed
15.9. INTeleICU
15.10. Hicuity Health
15.11. Eagle Telemedicine
15.12. iMDsoft
15.13. Inova
15.14. Teladoc Health Inc.
15.15. Banner Health
15.16. Ceiba Healthcare
15.17. CLEW Medical Ltd
15.18. VeeMed
15.19. Philips N.V.
15.20. Intercept Telemed
15.21. Cloudphysician Healthcare Pvt. Ltd
15.22. Others
16. Assumptions and Research Methodology
16.1. Data Mining
16.2. Secondary Research
16.3. Primary Research
16.4. Subject Matter Expert Advice
16.5. Quality Check
16.6. Final Review
16.7. Data Triangulation
16.8. Bottom-Up Approach
16.9. Top Down Approach
16.10. Research Flow
16.11. Key Insights from Industry Experts
16.12. Data Sources
16.13. Assumptions
16.14. Limitations
17. Conclusions and Recommendations
17.1. Key Research Findings and Conclusion
17.2. Key Insights & Recommendations from Analysts