Tele Intensive Care Unit (ICU) Market: Introduction
Tele-intensive care ICU (tele-ICU) deals with critical care of a patient in a hospital that is an application of telemedicine. Tele-ICU helps in the connection of critical care team at a distant location with the bedside ICU team through audio-visual communication and monitoring systems.
The system consists of hardware that collects the patient’s data and transmits it then from the remote ICU to the physician at a distant location with the help of a command centre. The data collected and transmitted by the ICU system comprises of the patient’s physiological status, treatment, and medical records.
Tele-ICU is capable of not only providing a real time monitoring of patient instability or any abnormality in laboratory but also order diagnostics tests, making diagnosis, and implementing any intervention through controlling life support devices. As a result of this, Tele-ICU also holds great promise in improving the quality of critical care patients and increasing the productivity of intensivists.
Tele Intensive Care Unit(ICU) Market: Forecast and Overview
The tele-intensive care unit (ICU) market is expected to gain market growth in the forecast period of 2021 to 2030. The market is growing with the CAGR of 17.64% in the forecast period and is expected to reach USD 6878.3 million by 2030.
Tele-intensive care unit (ICU) provides additional clinical support and surveillance to the hospitals. Tele-ICU with the bedside team provides support care for the patient without any distraction and also delivers timely interventions. The major purpose of the tele-ICU system is not to replace the bedside clinicians or bedside care, but it is used to provide improved safety through dismissal and enhance outcomes through standardization.
The increase in utilization of the systems to enhance patient care, high adoption rate due to reduced length of hospital stay and a rise in number of surgeries that require intensive care, influences this market.
The increase in the prevalence of chronic diseases among population, such as cancer and neurological disorders and the rising use of therapeutic devices in ICU also moves the tele-intensive care unit (ICU) market. In addition to this, the global rise in population, rise in awareness, gush in healthcare expenditure, and improving healthcare infrastructure positively affects this market.
The growth of the Tele -Intensive Care Unit(ICU) in healthcare market is connected to the rising demand for remote patient monitoring, growing government initiatives for telemedicine, increasing ICU admissions, and shortage of intensivists which are expected to boost the market growth over the years. However, the regulatory barriers for telemedicine and high cost of treatment, and also expensive set-up are likely to have a negative impact on the growth of the market in the coming years.
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Covid-19 Impact on the Market:
The Tele Intensive Care Unit in healthcare market is anticipated to witness substantial growth post-pandemic. The COVID-19 has affected economies and industries in various countries because of lockdowns, travel bans, and business shutdowns. The COVID-19 crisis has overloaded public health systems in almost every country and highlighted the strong need for sustainable investment in health systems.
As the COVID-19 pandemic progresses, the healthcare industry is expecting to see a drop in growth. The life sciences segment thrives because of an increase in demand for in-vitro diagnostic products and rising research and development activities worldwide. Though, the medical technologies and imaging segment can see a drop in sales because of less number of surgeries being carried out and delayed or prolonged equipment procurement.
Market Key Players:
Every market has its prominent key players. Tele Intensive Care Unit (ICU) Market also have its prominent key companies. These include: Inova; INTeleICU; InTouch Technologies Inc.; Koninklijke Philips NV; Advanced ICU Care; Philips (VISICU).
Market Segmentation:
Market is segmented on the basis of Type; Components; Geography.
On the basis of Type:
- Centralized
- Decentralized
- Other (Hybrid)
On the basis of Component:
- Hardware (Therapeutic Devices, Computer Systems, Communication Lines)
- Software
On the basis of Geography:
- North America (US, Canada, Mexico), Europe (France, Germany, Italy, UK, Spain, Rest of Europe), Asia Pacific (APAC) (China, India, South Korea, Japan, Australia, Rest of APAC), Middle East & Africa (MEA) (South Africa, Saudi Arabia, UAE, Rest of MEA), South America and Central America (SCAM) (Brazil, Argentina, Rest of SCAM)
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