Global Tele-Intensive Care Unit (ICU) Market: Information by Component (Component, Software), Type of Management (Intensivist ,Open, Co-managed, Open with Consultant and other Types of Management) and Region - Global Forecast till 2024
Tele-Intensive Care Unit (ICU) Market Scenario
Tele-Intensive Care Units (ICU) are advanced systems used for the treatment of critically ill patients by using off-site clinical resources. It is a part of telemedicine which is used for the exchange of medical information for conducting various medical activities such as monitoring, treatment, and rehabilitation.
The Global Tele-Intensive Care Unit (ICU) Market is accounted for USD 1820 Million in 2018 and expected to register 16.4% CAGR during the forecast period (2019–2024).
The rising prevalence of chronic disorders such as cancer, increasing geriatric population, technological advancements in the healthcare sector and increasing cases of patients affected by neurological disorders across the world are expected to drive the growth of the market. For instance, according to the Centers for Disease Control and Prevention (CDC), In the year 2016, more than 10.4 million cases of tuberculosis were registered in the world, and 1.7 million deaths occurred due to tuberculosis in the year 2016. Moreover, rising R&D spending and aggressive strategies adopted by the top players, such as new product launches, are contributing to the growth of the market.
The lack of adequate reimbursement policy and high costs involved in the establishment of these centers may hamper the growth of the market during the assessment period.
Tele-Intensive Care Unit (ICU) Market Segmentation
The global Tele-Intensive Care Unit (ICU) market has been segmented on the basis of component and type of management.
On the basis of component, the market has been classified as hardware and software. The market, by hardware, has been further segmented into the computer system, communication lines, physiological monitors, therapeutic devices, video feeds, and others.
Based on the type of management, the market has been segmented into intensivist, open, co-managed, open with a consultant, and other types of management.
The market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Tele-Intensive Care Unit (ICU) market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada.
The European Tele-Intensive Care Unit (ICU) market has been segmented into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe.
The Tele-Intensive Care Unit (ICU) market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The Tele-Intensive Care Unit (ICU) market in the Middle East & Africa has been segmented into the Middle East and Africa.
Tele-Intensive Care Unit (ICU) Market Company Profiles
- SOC Telemed
- Intouch Technologies, Inc.
- Koninklijke Philips N.V.
- Advanced Icu Care
- UPMC
- Banner Health
- Teleicucare
- Eagle Telemedicine
- Apollo TeleHealth Services
- Inteleicu
- Others
Tele-Intensive Care Unit (ICU) Regional Market Summary
The Americas are likely to dominate the global Tele-Intensive Care Unit (ICU) market owing to the technological advancements related to healthcare in the region, the surge in cases of chronic disorders, and an increasing number of hospitals in the regions. According to the report published by the American Hospital Association, more than 5200 community hospitals were present in the US in the year 2018, out of which 3,387 belongs to urban areas, and 1875 were from rural areas.
The European market is expected to be the second-largest Tele-Intensive Care Unit (ICU) market. The market growth in this region can be attributed to the increasing demand of healthcare systems which can provide real-time data, rising cases of neurological disorders in the European region, and government funding and support of the healthcare sector along with the increasing research and development. Moreover, favorable reimbursement policies in European countries are contributing to the growth of the market in this region. According to the European Academy of Neurology, neurological disorders are increasing in Europe, and in the year 2017, more than 220 million European population was affected by neurological complications.
Asia-Pacific is expected to be the fastest-growing Tele-Intensive Care Unit (ICU) market during the forecast period owing to the increasing geriatric population, rising investments in healthcare, and expansions by market players in the region. Also, countries such as India and China are considering the fastest growing region due to the presence of a huge patient population. Moreover, the government of these countries is open to adopting new technology and the best treatment option from a developed country.
The market in the Middle East & Africa is expected to account for the smallest share of the global Tele-Intensive Care Unit (ICU) market due to an underdeveloped healthcare sector, lack of technical knowledge, and poor medical facilities.
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