Tele-Intensive Care Unit Market Size is projected to reach USD 12.40 billion by 2031, growing at a CAGR of 16.3%: Straits Research
The global Tele-Intensive Care Unit Market size was worth USD 3.18 billion in 2022. It is estimated to reach a predicted value of USD 12.40 billion by 2031, registering a CAGR of 16.3% during the forecast period (2022-2031). North America dominated the market and is estimated to register a CAGR of 17% during the forecast period.
New York, United States, Aug. 07, 2023 (GLOBE NEWSWIRE) -- The tele-intensive care unit market is primarily driven by the escalating need for remote monitoring, the rise in surgical procedures worldwide, and the expansion of the elderly population. In developing countries and emerging economies, healthcare costs are a growing burden; therefore, tele-intensive care units can be implemented to reduce costs and improve patient care, as these platforms offer numerous advantages, such as continuous real-time monitoring and remote access to patient data. As per the United Nations' World Population Prospects for 2019, the percentage of the worldwide population over the age of 65 will climb from 9% in 2019 to over 16% in 2050. As the aging population causes an increase in health-related difficulties, particularly cardiovascular and neurological illnesses, it is anticipated that the number of patients hospitalized will also increase. This hospitalization will likely result in surgeries requiring intensive care, which is expected to fuel the demand for tele-intensive care units.
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*Increase in Volume of Surgical Procedures Globally to Drive the Global Tele-Intensive Care Unit Market*
Globally, the number of surgical procedures is increasing due to the rising prevalence of ailments requiring surgery, such as cancer and cardiovascular disease, as well as burns and injuries. According to Cancer Facts and Figures, 2020, from the American Cancer Society, there were an expected 1.8 million new cancer cases and 606,520 cancer-related deaths in the United States. In addition, between 15 and 39-year-old adolescents and young adults in the United States were anticipated to have around 89,500 new cancer diagnoses and 9,270 cancer-related deaths in 2020. The rising incidence of cancer is expected to raise the demand for tumor removal surgeries, increasing the demand for tele-intensive care units that shorten clinical decision time and promote efficient healthcare delivery.
The National Institute of Neurological Disorders and Stroke (NINDS) estimates that approximately 12,000 spinal cord injuries (SCI) occurred annually in the United States in 2019. In addition, between 249 000 and 363 000 people in the United States were living with SCI in 2019. During the projected period, unintentional or accidental mortality due to injuries is anticipated to increase the number of procedures and increase demand for tele-ICUs. In light of the reasons mentioned above, it is expected that the studied market will experience a substantial increase throughout the forecast period.
*The fast-growing population and the Lack of Infrastructure to Provide Opportunities for the Global Tele-Intensive Care Unit Market*.
The chance for the tele-ICU segment to grow fast has been created by a rapidly expanding population and a lack of facilities to accommodate numerous patients. There are situations where immediate medical or health care must be administered to a patient far away or involved in an accident. In these circumstances, there is no time to transport the patient to the hospital. In such cases, the tele-ICU market has enormous growth potential over the next few years.
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*Report Scope*
*Report Metric* *Details*
*Market Size by 2023* USD 12.40 billion
*Market Size in 2022* USD 3.18 billion
*CAGR* 16.3% (2022-2031)
*Historical Data* 2020-2021
*Base Year* 2022
*Forecast Period* 2023-2031
*Forecast Units* Value (USD Billion)
*Report Coverage* Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
*Segments Covered* By Component(Hardware, Software), By Type of Management(Intensivist ,Open ,Co-managed ,Open with Consultant ,Other Types of Management)
*Geographies Covered* North America, Europe, Asia-Pacific, LAME and Rest of the World
*Key Companies Profiled/Vendors* Hicuity Health, Eagle Telemedicine, iMDsoft, Inova, INTeleICU, Teladoc Health Inc., Koninklijke Philips NV, SOC Telemed, Apollo Telehealth Services, Banner Health
*Key Market Opportunities* Fast-growing population and the Lack of Infrastructure
*Key Market Drivers* Increase in the Volume of Surgical Procedures Globally
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*Regional Insights*
By region, the global tele-intensive care unit market is segmented into North America, Europe, Asia-Pacific, and Middle East & Africa.
North America dominated the market and is estimated to register a *CAGR of 17% *during the forecast period. The rise of the tele-ICU market in the United States is primarily attributable to the government's support of the healthcare IT industry in the country. The increasing number of launches and partnerships contributes to the country's market expansion. In conjunction with The Regional Medical Center, Advanced ICU Care began tele-ICU services in June 2020 to assure quality outcomes and consistent delivery of patient-centered care. In 2019, Philips celebrated the success of its 15-year tele-critical cooperation with Health First of Florida. Health First's VitalWatch e-ICU, the result of the agreement, has shown significant reductions in fatality rates and lengths of stay for the nation's sickest patient group. The demand for mobile technologies and internet connectivity, the increasing use of home care by patients, and the general decline in hospital visits are anticipated to drive market expansion over the forecast period.
Europe is the second largest region. It is estimated to registering a *CAGR of 17.3% *during forecast period*. *Due to the rising population in the United Kingdom, the need for healthcare services is increasing. One incentive to support the use and acceptance of healthcare technology such as telehealth is the rising expense of healthcare. In 1991, telemedicine was introduced to the country. Since then, telemedicine services have been widely adopted and utilized in the United Kingdom. The tele-ICU market is expanding because of the increasing technological breakthroughs in healthcare and the attention of UK healthcare experts on their improvement. According to the Centre for Ageing Better's 2019 report, the number of adults over 65 in the United Kingdom was substantial. Over 11,9 million individuals aged 65 and over, including 3,2 million individuals aged 80 and above and 1,6 million individuals aged 85 and older. In twenty years, the number of people aged 65 and older was projected to climb by more than 40 percent. The increasing elderly population, which is highly prone to numerous chronic conditions requiring surgical intervention, contributes to the expansion of the market.
Asia-Pacific is the third largest region. China has one of the world's fastest-growing economies. Following the release of favorable laws by the Chinese government about initiatives to promote telemedicine services in the country, the industry is anticipated to expand tremendously. According to the 2020 study "Preparing Your Intensive Care Unit for the COVID-19 Pandemic: Practical Considerations and Strategies," China reported a high incidence of acute respiratory distress syndrome (ARDS) (17-29% of the total number) and critical illness (23-33% of the total number) among hospitalized patients due to the increasing number of COVID-19 cases. Preparing intensive care units (ICU) was determined to be a vital component of any pandemic response. This has impacted market expansion. According to the Chinese National Bureau of Statistics, over 165,316 surgical procedures were registered in the Qinghai Province in 2018. The increase in surgical procedures necessitating intensive care may impact the tele-ICU business.
Along with online prescription sales, China is currently establishing telemedicine services. Businesses such as Alibaba and Cardinal Health have verified other commercial platforms. All of these platforms have contributed to the expansion of the market as a whole.
*Competitive Landscape*
The major global tele-intensive care unit market companies are Hicuity Health, Eagle Telemedicine, iMDsoft, Inova, INTeleICU, Teladoc Health Inc., Koninklijke Philips NV, SOC Telemed, Apollo Telehealth Services, Banner Health.
*Key Highlights*
· The global Tele-Intensive Care Unit Market size is estimated to reach an predicted value of USD 12.40 billion by 2031, registering a *CAGR of 16.3% *during the forecast period (2022-2031).
· *By component*, the global tele-intensive care unit market is segmented into hardware and software, and services. The hardware segment is further segmented as therapeutic devices, communication lines, computer systems, physiological monitors, display panels, video feeds, and other hardware. The hardware segment dominated the market and is estimated to register a *CAGR of 16.9% *during the forecast period.
· *By type of management*, the global tele-intensive care unit market is segmented into intensivist, open, co-managed, open with the consultant, and other types of management. The open with consultant segment dominated the market and is estimated to register a *CAGR of 17.8% *during the forecast period.
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*Global Tele-Intensive Care Unit Market: Segmentation*
· *By Component*
· Hardware
· · · Therapeutic Devices
· Communication Lines
· Computer Systems
· Physiological Monitors
· Display Panels
· Video Feed
· Other Hardware
· · Software and Services
*By Type of Management*
· Intensivist
· Open
· Co-managed
· Open with Consultant
· Other Types of Management
*By Region*
· North America
· Europe
· Asia-Pacific
· Middle East & Africa
**TABLE OF CONTENT**1. EXECUTIVE SUMMARY
2. RESEARCH SCOPE & SEGMENTATION
1. Research Objectives
2. Market Definition
3. Limitations & Assumptions
4. Market Scope & Segmentation
5. Currency & Pricing Considered
3. MARKET OPPORTUNITY ASSESSMENT
1. 1. Emerging Regions / Countries
2. Emerging Companies
3. Emerging Applications / End Use
4. Investment Landscape
5. New Business Models / Revenue Streams
6. TAM
1. MARKET TRENDS
1. 1. Drivers
2. Market Warning Factors
3. Latest Macro Economic Indicators
4. Geopolitical Impact
5. Human Factors
6. Technology Factors
1. MARKET ASSESSMENT
1. 1. Porters Five Forces Analysis
2. Value Chain Analysis
3. Sales And Distribution Channel Analysis
4. Case Study Analysis
5. Patent Analysis
6. M & A Agreements & Collabration Analysis
1. *ESG TRENDS*
2. GLOBAL TELE-INTENSIVE CARE UNIT MARKET SIZE ANALYSIS
1. 1. Global Tele-Intensive Care Unit Market Introduction
2. By Component
1. 1. 1. Introduction
1. 1. 1. 1. Component By Value
1. 1. 1. Hardware
1. 1. 1. 1. By Value
2. Therapeutic Devices
1. Therapeutic Devices By Value
3. Communication Lines
1. Communication Lines By Value
4. Computer Systems
1. Computer Systems By Value
5. Physiological Monitors
1. Physiological Monitors By Value
6. Display Panels
1. Display Panels By Value
7. Video Feed
1. Video Feed By Value
8. Other Hardware
1. Other Hardware By Value
1. 1. 1. Software And Services
1. 1. 1. 1. By Value
1. 1. By Type Of Management
1. 1. 1. Introduction
1. 1. 1. 1. Type Of Management By Value
1. 1. 1. Intensivist
1. 1. 1. 1. By Value
1. 1. 1. Open
1. 1. 1. 1. By Value
1. 1. 1. Co-Managed
1. 1. 1. 1. By Value
1. 1. 1. Open With Consultant
1. 1. 1. 1. By Value
1. 1. 1. Other Types Of Management
1. 1. 1. 1. By Value
1. NORTH AMERICA MARKET ANALYSIS
1. 1. Introduction
2. By Component
1. 1. 1. Introduction
1. 1. 1. 1. Component By Value
1. 1. 1. Hardware
1. 1. 1. 1. By Value
2. Therapeutic Devices
1. Therapeutic Devices By Value
3. Communication Lines
1. Communication Lines By Value
4. Computer Systems
1. Computer Systems By Value
5. Physiological Monitors
1. Physiological Monitors By Value
6. Display Panels
1. Display Panels By Value
7. Video Feed
1. Video Feed By Value
8. Other Hardware
1. Other Hardware By Value
1. 1. 1. Software And Services
1. 1. 1. 1. By Value
1. 1. By Type Of Management
1. 1. 1. Introduction
1. 1. 1. 1. Type Of Management By Value
1. 1. 1. Intensivist
1. 1. 1. 1. By Value
1. 1. 1. Open
1. 1. 1. 1. By Value
1. 1. 1. Co-Managed
1. 1. 1. 1. By Value
1. 1. 1. Open With Consultant
1. 1. 1. 1. By Value
1. 1. 1. Other Types Of Management
1. 1. 1. 1. By Value
1. 1. U.S.
1. 1. 1. By Component
1. 1. 1. 1. Introduction
1. Component By Value
2. Hardware
1. By Value
2. Therapeutic Devices
1. Therapeutic Devices By Value
3. Communication Lines
1. Communication Lines By Value
4. Computer Systems
1. Computer Systems By Value
5. Physiological Monitors
1. Physiological Monitors By Value
6. Display Panels
1. Display Panels By Value
7. Video Feed
1. Video Feed By Value
8. Other Hardware
1. Other Hardware By Value
3. Software And Services
1. By Value
1. 1. 1. By Type Of Management
1. 1. 1. 1. Introduction
1. Type Of Management By Value
2. Intensivist
1. By Value
3. Open
1. By Value
4. Co-Managed
1. By Value
5. Open With Consultant
1. By Value
6. Other Types Of Management
1. By Value
1. 1. Canada
1. EUROPE MARKET ANALYSIS
1. 1. Introduction
2. By Component
1. 1. 1. Introduction
1. 1. 1. 1. Component By Value
1. 1. 1. Hardware
1. 1. 1. 1. By Value
2. Therapeutic Devices
1. Therapeutic Devices By Value
3. Communication Lines
1. Communication Lines By Value
4. Computer Systems
1. Computer Systems By Value
5. Physiological Monitors
1. Physiological Monitors By Value
6. Display Panels
1. Display Panels By Value
7. Video Feed
1. Video Feed By Value
8. Other Hardware
1. Other Hardware By Value
1. 1. 1. Software And Services
1. 1. 1. 1. By Value
1. 1. By Type Of Management
1. Introduction
1. 1. 1. 1. Type Of Management By Value
1. 1. 1. Intensivist
1. 1. 1. 1. By Value
1. 1. 1. Open
1. 1. 1. 1. By Value
1. 1. 1. Co-Managed
1. 1. 1. 1. By Value
1. 1. 1. Open With Consultant
1. 1. 1. 1. By Value
1. 1. 1. Other Types Of Management
1. 1. 1. 1. By Value
1. 1. U.K.
1. 1. 1. By Component
1. 1. 1. 1. Introduction
1. Component By Value
2. Hardware
1. By Value
2. Therapeutic Devices
1. Therapeutic Devices By Value
3. Communication Lines
1. Communication Lines By Value
4. Computer Systems
1. Computer Systems By Value
5. Physiological Monitors
1. Physiological Monitors By Value
6. Display Panels
1. Display Panels By Value
7. Video Feed
1. Video Feed By Value
8. Other Hardware
1. Other Hardware By Value
3. Software And Services
1. By Value
1. 1. 1. By Type Of Management
1. 1. 1. 1. Introduction
1. Type Of Management By Value
2. Intensivist
1. By Value
3. Open
1. By Value
4. Co-Managed
1. By Value
5. Open With Consultant
1. By Value
6. Other Types Of Management
1. By Value
1. 1. Germany
2. France
3. Spain
4. Italy
5. Russia
6. Nordic
7. Benelux
8. Rest Of Europe
1. APAC MARKET ANALYSIS
1. 1. Introduction
2. By Component
1. 1. 1. Introduction
1. 1. 1. 1. Component By Value
1. 1. 1. Hardware
1. 1. 1. 1. By Value
2. Therapeutic Devices
1. Therapeutic Devices By Value
3. Communication Lines
1. Communication Lines By Value
4. Computer Systems
1. Computer Systems By Value
5. Physiological Monitors
1. Physiological Monitors By Value
6. Display Panels
1. Display Panels By Value
7. Video Feed
1. Video Feed By Value
8. Other Hardware
1. Other Hardware By Value
1. 1. 1. Software And Services
1. 1. 1. 1. By Value
1. 1. By Type Of Management
1. 1. 1. Introduction
1. 1. 1. 1. Type Of Management By Value
1. 1. 1. Intensivist
1. 1. 1. 1. By Value
1. 1. 1. Open
1. 1. 1. 1. By Value
1. 1. 1. Co-Managed
1. 1. 1. 1. By Value
1. 1. 1. Open With Consultant
1. 1. 1. 1. By Value
1. 1. 1. Other Types Of Management
1. 1. 1. 1. By Value
1. 1. China
1. 1. 1. By Component
1. 1. 1. 1. Introduction
1. Component By Value
2. Hardware
1. By Value
2. Therapeutic Devices
1. Therapeutic Devices By Value
3. Communication Lines
1. Communication Lines By Value
4. Computer Systems
1. Computer Systems By Value
5. Physiological Monitors
1. Physiological Monitors By Value
6. Display Panels
1. Display Panels By Value
7. Video Feed
1. Video Feed By Value
8. Other Hardware
1. Other Hardware By Value
3. Software And Services
1. By Value
1. 1. 1. By Type Of Management
1. 1. 1. 1. Introduction
1. Type Of Management By Value
2. Intensivist
1. By Value
3. Open
1. By Value
4. Co-Managed
1. By Value
5. Open With Consultant
1. By Value
6. Other Types Of Management
1. By Value
1. 1. Korea
2. Japan
3. India
4. Australia
5. Taiwan
6. South East Asia
7. Rest Of Asia-Pacific
1. MIDDLE EAST AND AFRICA MARKET ANALYSIS
1. 1. Introduction
2. By Component
1. 1. 1. Introduction
1. 1. 1. 1. Component By Value
1. 1. 1. Hardware
1. 1. 1. 1. By Value
2. Therapeutic Devices
1. Therapeutic Devices By Value
3. Communication Lines
1. Communication Lines By Value
4. Computer Systems
1. Computer Systems By Value
5. Physiological Monitors
1. Physiological Monitors By Value
6. Display Panels
1. Display Panels By Value
7. Video Feed
1. Video Feed By Value
8. Other Hardware
1. Other Hardware By Value
1. 1. 1. Software And Services
1. 1. 1. 1. By Value
1. 1. By Type Of Management
1. 1. 1. Introduction
1. 1. 1. 1. Type Of Management By Value
1. 1. 1. Intensivist
1. 1. 1. 1. By Value
1. 1. 1. Open
1. 1. 1. 1. By Value
1. 1. 1. Co-Managed
1. 1. 1. 1. By Value
1. 1. 1. Open With Consultant
1. 1. 1. 1. By Value
1. 1. 1. Other Types Of Management
1. 1. 1. 1. By Value
1. 1. UAE
1. 1. 1. By Component
1. 1. 1. 1. Introduction
1. Component By Value
2. Hardware
1. By Value
2. Therapeutic Devices
1. Therapeutic Devices By Value
3. Communication Lines
1. Communication Lines By Value
4. Computer Systems
1. Computer Systems By Value
5. Physiological Monitors
1. Physiological Monitors By Value
6. Display Panels
1. Display Panels By Value
7. Video Feed
1. Video Feed By Value
8. Other Hardware
1. Other Hardware By Value
3. Software And Services
1. By Value
1. 1. 1. By Type Of Management
1. 1. 1. 1. Introduction
1. Type Of Management By Value
2. Intensivist
1. By Value
3. Open
1. By Value
4. Co-Managed
1. By Value
5. Open With Consultant
1. By Value
6. Other Types Of Management
1. By Value
1. 1. Turkey
2. Saudi Arabia
3. South Africa
4. Egypt
5. Nigeria
6. Rest Of MEA
1. LATAM MARKET ANALYSIS
1. 1. Introduction
2. By Component
1. 1. 1. Introduction
1. 1. 1. 1. Component By Value
1. 1. 1. Hardware
1. 1. 1. 1. By Value
2. Therapeutic Devices
1. Therapeutic Devices By Value
3. Communication Lines
1. Communication Lines By Value
4. Computer Systems
1. Computer Systems By Value
5. Physiological Monitors
1. Physiological Monitors By Value
6. Display Panels
1. Display Panels By Value
7. Video Feed
1. Video Feed By Value
8. Other Hardware
1. Other Hardware By Value
1. 1. 1. Software And Services
1. 1. 1. 1. By Value
1. 1. By Type Of Management
1. 1. 1. Introduction
1. 1. 1. 1. Type Of Management By Value
1. 1. 1. Intensivist
1. 1. 1. 1. By Value
1. 1. 1. Open
1. 1. 1. 1. By Value
1. 1. 1. Co-Managed
1. 1. 1. 1. By Value
1. 1. 1. Open With Consultant
1. 1. 1. 1. By Value
1. 1. 1. Other Types Of Management
1. 1. 1. 1. By Value
1. 1. Brazil
1. 1. 1. By Component
1. 1. 1. 1. Introduction
1. Component By Value
2. Hardware
1. By Value
2. Therapeutic Devices
1. Therapeutic Devices By Value
3. Communication Lines
1. Communication Lines By Value
4. Computer Systems
1. Computer Systems By Value
5. Physiological Monitors
1. Physiological Monitors By Value
6. Display Panels
1. Display Panels By Value
7. Video Feed
1. Video Feed By Value
8. Other Hardware
1. Other Hardware By Value
3. Software And Services
1. By Value
1. 1. 1. By Type Of Management
1. 1. 1. 1. Introduction
1. Type Of Management By Value
2. Intensivist
1. By Value
3. Open
1. By Value
4. Co-Managed
1. By Value
5. Open With Consultant
1. By Value
6. Other Types Of Management
1. By Value
1. 1. Mexico
2. Argentina
3. Chile
4. Colombia
5. Rest Of LATAM
1. COMPETITIVE ASSESSMENT
1. 1. Adoption Matrix
2. Tele-Intensive Care Unit Market Share By Manufacturers
3. Tele-Intensive Care Unit Market Ranking By Revenue For Manufacturers
4. Average Price By Manufacturers
5. Vendor Footprint Analysis
1. MARKET PLAYERS ASSESSMENT
1. 1. Advanced ICU Care
1. 1. 1. Overview
2. Business Information
3. Revenue
4. ASP
5. Gross Margin
6. Swot Analysis
7. Recent Developmments
1. 1. Inova
2. Banner Health
3. Philips (Visicu)
4. IMDsoft
5. InTouch Health
6. UPMC Italy
7. INTeleICU
8. Apollo TeleHealth Services
9. TeleICU
1. RESEARCH METHODOLOGY
1. 1. Research Data
1. 1. 1. Secondary Data
1. 1. 1. 1. Major Secondary Sources
2. Key Data From Secondary Sources
1. 1. 1. Primary Data
1. 1. 1. 1. Key Data From Primary Sources
2. Breakdown Of Primaries
1. 1. 1. Secondary And Primary Research
1. 1. 1. 1. Key Industry Insights
1. 1. Market Size Estimation
1. 1. 1. Bottom-Up Approach
2. Top-Down Approach
3. Market Projection
1. 1. Research Assumptions
1. 1. 1. Assumptions
1. 1. Limitations
2. Risk Assessment
1. APPENDIX
1. 1. Discussion Guide
2. Customization Options
3. Related Reports
1. DISCLAIMER
*Table of Content and Figure @ https://straitsresearch.com/report/tele-intensive-care-unit-market/toc*
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*Market News*
· *October 2022 -* In response to increasing patient volume and strain on hospital capacity, effective Monday, Oct. 24, Inova is activating its internal Emergency Operations Plan. Declaring emergency status lets us prioritize patient and team member safety, maximize operational efficiencies, and make decisions in a dynamic environment to best address the community's developing needs.
· *October 2022 -* Inova Health System is thrilled to announce the acquisition of roughly 35 acres of land close to Inova Fairfax Medical Campus' northern border.
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*News Media*
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