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Tele Intensive Care Unit - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

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  • 110 Pages
  • February 2024
  • Region: Global
  • Mordor Intelligence
  • ID: 4622767
The tele-intensive care unit market is expected to register a CAGR of 16.85% during the forecast period.

The COVID-19 pandemic significantly impacted the growth of the market. Telemedicine is one of the promising technologies, as critical care specialists from ICU telemedicine centers were crucial in expanding critical care services during the COVID-19 pandemic. Also, several initiatives and implementations were carried out by various government organizations and market players related to tele ICU, impacting market growth during the pandemic. For instance, in November 2021, the Gujarat government planned to enlist private physicians to launch tele-ICU services to lessen the burden on government hospitals and health centers in rural and remote locations that lack specialized physicians. Such initiatives by the government increased the adoption of tele-ICU services across hospitals. Thus, the studied market witnessed significant growth during the pandemic.

Factors such as an increase in the volume of surgical procedures worldwide and increasing demand for remote patient monitoring are anticipated to drive market growth.

The rising prevalence of chronic diseases coupled with the growing geriatric population raises the need to find new ways of improving patient outcomes, increasing access to care, and reducing the cost of medical care. For instance, according to the Centers for Disease Control and Prevention (CDC), data updated in July 2022, in the United States, 6 in 10 adults suffer from a chronic disease, and 4 in 10 adults include two or more chronic diseases like heart disease, cancer, stroke, chronic obstructive pulmonary disease, and diabetes.

Additionally, according to an article published in Frontiers in Public Health in January 2023, the number of people in the United States is projected to reach 221.13 million in 2050, representing a 61.11% increase from the last three decades. Also, as per the same source, about 142.66 million people aged 50 and older were projected to include at least one chronic disease by 2050, with an increase of 99.5%. Thus, the expected increase in elderly suffering from chronic diseases raises hospital admission rates. This is anticipated to fuel the demand for tele-ICU, propelling the market growth.

Furthermore, the advantages offered by tele-ICU such as the low-cost method of connecting intensivists with hospitals, earlier interventions for critically ill patients, allowing hospitals to provide these highly trained specialists to their most critically ill patients, increased awareness of high-acuity patients for proactive monitoring, improved care quality and adherence to key metrics, increased their adoption across the hospitals.

Moreover, the increasing launch of tele-ICU hubs in various countries is also expected to propel market growth. For instance, in May 2022, Manipur, India's Chief Minister, inaugurated the first-ever Tele-ICU Hub, including a 10-bed ICU ward at the Jawaharlal Nehru Institute of Medical Sciences (JNIMS), Imphal. With the Tele-ICU facilities, patients being treated at Intensive Care Units (ICU) in different district hospitals and other Tele-ICU-supported hospitals will be able to access observation by specialist doctors through the hub set up at JNIMS.

Therefore, owing to the factors above, such as the high prevalence of chronic diseases, the growing aging population, and the advantages of tele-ICU, the studied market is anticipated to grow over the forecast period. However, the high cost of treatment and expensive setup will likely hinder the growth of the tele-intensive care unit market over the forecast period.

Tele Intensive Care Unit Market Trends

Software and Services Segment is Expected to Witness Growth Over the Forecast Period

The software and services segment is anticipated to witness significant growth in the tele-intensive care unit (ICU) market over the forecast period. It is owing to factors such as the increasing demand and adoption of tele-ICU across hospitals and rising companies and government initiatives.

The increasing company and government initiatives to develop new technologies and services are expected to increase segment growth. For instance, in November 2022, the Karnataka government's Department of Health and Family Welfare, in collaboration with Bengaluru-based non-profit eGovernments Foundation and Google Cloud, launched cloud-based remote intensive care unit (ICU) services at 41 state-run hospitals. Also, in July 2021, Hicuity Health, a provider of high-acuity telemedicine services, and Covenant Health, a not-for-profit healthcare system providing comprehensive services in East Tennessee, launched Knoxville's telemedicine center and the introduction of tele-ICU services. The collaboration uses Hicuity Health's technological and operational infrastructure, proprietary HUB workflow management platform, and multiple existing clinical operations centers in a shared services arrangement. Also, this partnership provides tele-ICU treatment to critically ill patients across Covenant's nine acute care facilities. It is done through a tele-ICU care delivery team comprising Hicuity Health and Covenant Health clinicians.

Therefore, owing to the factors above, the segment is expected to grow significantly over the forecast period.

North America is Expected to Hold the Significant Market Share Over the Forecast Period

North America is anticipated to hold a significant market share over the forecast period owing to factors such as the growing geriatric population, an increase in the prevalence of chronic diseases, and various government initiatives. In addition, the well-developed IT infrastructure, robust communication networks, and the growing demand for remote monitoring systems are also expected to boost the market growth.

The rising prevalence of chronic diseases such as cancer, cardiovascular diseases, diabetes, and others are the key factors driving the market growth. For instance, according to 2023 statistics published by ACS, about 19,58,310 new cancer cases are expected to be diagnosed in the United States in 2023. Additionally, according to 2022 statistics published by the Canadian Cancer Society, about 233,900 people were diagnosed with cancer in Canada in 2022. The high number of people with cancer raises the need for long hospital stays for their treatment, fueling the demand for tele-ICUs, hence contributing to the market growth.

Furthermore, the rising new product launches increase the availability of advanced tele-ICU devices, software, and solutions in the market. For instance, in March 2022, Hicuity Health, a United States-based provider of high-acuity telemedicine services, expanded its telemedicine services relationship with Baptist Health, a 9-hospital system. In this expansion, tele-ICU services were extended to Baptist Health Deaconess Madisonville, a facility that provides care to residents throughout western Kentucky. Introducing Hicuity Health tele-ICU at the Madisonville facility provided critical care support to its Baptist Health team members and their patients.

Moreover, the increasing focus of the companies to adopt key strategies such as collaborations, partnerships, and other initiatives are also contributing to the market growth in the region. For instance, in January 2022, Avel eCARE, a telehealth network and virtual hospital, helped develop the federally funded initiative, the National Emergency Tele-Critical Care Network. It expanded its work with the Department of Health and Human Services and the Department of Defense to provide critical care expertise to hospitals and municipalities struggling with COVID-19 surges in the South.

Therefore, the studied market is anticipated to grow over the forecast period due to the factors above, such as the high burden of cancer, new product launches, and increasing company activities.

Tele Intensive Care Unit Industry Overview

The tele-intensive care unit market is highly competitive owing to the presence of several players. In terms of market share, there is moderate consolidation in the market. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by introducing new products at lower prices. Some of the key companies in the market are INTeLeICU, Koninklijke Philips NV, InTouch Technologies Inc., Inova, and Advanced ICU Care, among others.

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Table of Contents

1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increase in Volume of Surgical Procedures Worldwide
4.2.2 Increasing Demand for Remote Patient Monitoring
4.3 Market Restraints
4.3.1 High Cost of Treatment and Expensive Set Up
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market Size by Value - USD)
5.1 By Component
5.1.1 Hardware Devices Communication Lines Computer Systems Physiological Monitors Display Panels Video Feed Other Hardware
5.1.2 Software and Services
5.2 By Type of Management
5.2.1 Intensivist
5.2.2 Open
5.2.3 Co-managed
5.2.4 Open with Consultant
5.2.5 Other Types of Management
5.3 Geography
5.3.1 North America United States Canada Mexico
5.3.2 Europe Germany United Kingdom France Italy Spain Rest of Europe
5.3.3 Asia-Pacific China Japan India Australia South Korea Rest of Asia-Pacific
5.3.4 Middle East and Africa GCC South Africa Rest of Middle East and Africa
5.3.5 South America Brazil Argentina Rest of South America
6.1 Company Profiles
6.1.1 Hicuity Health
6.1.2 iMDsoft
6.1.3 Inova
6.1.4 INTeleICU
6.1.5 Teladoc Health Inc.
6.1.6 Koninklijke Philips NV
6.1.7 SOC Telemed
6.1.8 Apollo Hospitals (Apollo Telehealth Services)
6.1.9 Ceiba Healthcare
6.1.10 CLEW
6.1.11 Intercept Telemed
6.1.12 Cloudphysician Healthcare Pvt. Ltd

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Hicuity Health
  • iMDsoft
  • Inova
  • INTeleICU
  • Teladoc Health Inc.
  • Koninklijke Philips NV
  • SOC Telemed
  • Apollo Hospitals (Apollo Telehealth Services)
  • Ceiba Healthcare
  • CLEW
  • Intercept Telemed
  • Cloudphysician Healthcare Pvt. Ltd