Tele-intensive Care Services Market - Forecast(2021 - 2026)

Report Code: HCR 0643 Report Format: PDF + Excel (Delivery in 48 Hrs)

Tele-Intensive Care Services Market Overview

The Tele-Intensive Care Services Market size is forecast to reach $8.29 billion by 2025, growing at a CAGR of 14.6% during the forecast period 2020-2025. Tele-Intensive Care ICU is an application of telemedicine that deals with the critical care of a patient in a hospital. Tele-ICU aids in connecting the critical care team at a distant location with the bedside ICU team with the help of audio-visual communication and monitoring systems. Rise in the number of intensive care units globally and incessant technological advancements in remote patient monitoring technologies is the major factor driving the growth of the market. An increase in the number of chronic disease cases and the need to reduce hospital stay times is set to further enhance the overall market demand for the Tele-Intensive Care Services Market during the forecast period 2020-2025.

Tele-Intensive Care Services Market Report Coverage

The report: “Tele-Intensive Care Services Market Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Tele-Intensive Care Services Market. 
By Component: Hardware, and Software
By Type: Centralized, Decentralized, and Hybrid 
By Geography: North America, Europe, Asia Pacific, and Rest of the World (RoW)

Key Takeaways

  • North America dominated the Tele-Intensive Care Services Market in 2019 owing to the presence of high-speed internet connectivity, IT infrastructure, and robust communication networks. The Tele-Intensive Care Services Market scope for different regions will be provided in the final report.
  • The rapidly growing cosmetic industry, and rising health consciousness of people around the world is likely to aid in the market growth of the Tele-Intensive Care Services Market.
  • Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Tele-Intensive Care Services Market report.
  • Regulatory barriers for telemedicine and high cost is poised to create hurdles for the Tele-Intensive Care Services Market.

Tele-Intensive Care Services Market Segment Analysis - By Component

The Hardware segment held the largest share in the Tele-Intensive Care Services Market in 2019 and is estimated to grow at a CAGR of 16.6% during the forecast period 2020-2025. Therapeutic device means an instrument, apparatus, implement, machine, contrivance, implant, in vitro reagent, including a part, or accessory which is intended to affect the structure or any function of the body and which does not achieve any of its primary intended purposes through chemical action within or on the body and which is not dependent upon being metabolized for the achievement of any of its primary intended purposes. Medical therapeutic devices are various products produced to aid people in dealing with physical illnesses. Psychological knowledge has been used in the design of these devices but can also be of use in understanding and overcoming difficulties in their use. The Hardware is set to be the highest growing segment and is estimated to register the highest CAGR during the forecast period 2020-2025. 

Tele-Intensive Care Services Market Segment Analysis - By Type

The Centralized held the largest share in the Tele-Intensive Care Services Market in 2019. A centralized Tele-ICU is a hub-and-spoke model in which critical care services originate from a hub and services are delivered at a spoke facility. The hub (or center) is an established site with staffing that includes intensivists, nurses, and clerical and technical staff. One centralized care team can manage a large number of geographically dispersed ICU locations to exchange health information electronically, in real-time.  The Centralized is set to be the highest growing segment and is estimated to register the highest CAGR during the forecast period 2020-2025.

Tele-Intensive Care Services Market Segment Analysis - By Geography

North America dominated the Tele-Intensive Care Services Market in 2019 with a share of more than 40.22%, followed by the Asia Pacific owing to the presence of high-speed internet connectivity, IT infrastructure, and robust communication networks. Moreover, the presence of prominent telehealth service providers in the U.S. and growing usage of remote monitoring tools is increasing the growth of the Tele-Intensive Care Services Market in this region.
However, Asia Pacific is estimated to grow at a higher CAGR during the forecast period 2020-2025 owing to the favourable government initiatives for the advancement of the healthcare system. Bolstering medical device electronics, especially remote human-machine interface devices is also increasing the growth of the Tele-Intensive Care Services Market in this region.

Tele-Intensive Care Services Market Drivers

Rising demand for remote patient monitoring

The rising demand for remote patient monitoring is increasing the growth of the Tele-Intensive Care Services Market. Telemedicine improves ICU outcomes by increasing access to the expertise of dedicated and prompting bedside providers to implement routine evidence-based practices. The tele-ICU are located in remote or rural areas where safe and efficient transfer for patients for regional centers for advanced critical care present difficulties. The command center communicates with the help of voice with the remote ICU personnel and can receive televised pictures and clinical data about the patients. The use of Tele-Intensive care services was prompted by the finding that the care of ICU patients by dedicated intensivists improves both patients and cost outcomes. With the help of a centralized remote patient, the monitoring center has the ability to consolidate and standardize care, reduces transfer while maximizing bed utilization, and support onsite staff. This decreases costs while enhancing revenues, patient flow, and capacity management across the system. Thus, increasing the growth of the Tele-Intensive Care Services Market during the forecast period 2020-2025.

Growth in the healthcare industries

Growth in the healthcare industry is increasing the growth of the Tele-Intensive Care Services Market. The healthcare industry has been witnessing rapid transformations. Various technological advancements have been witnessed in the industry. With a need for better healthcare facilities, Technology Enabled Care solutions are being referred to in the healthcare systems in the emerging economies. Also, the availability of reimbursement for various medical procedures is expected to fuel the growth of the industry in the coming years, With the presence of regulations laid down by the government bodies, it is possible to obtain better and reliable healthcare facilities, ensuring quality care and patient safety, mitigating fraud, and cyber threats. Thus, increasing the growth of the Tele-Intensive Care Services Market during the forecast period 2020-2025.

Tele-Intensive Care Services Market Challenge

Regulatory barriers for telemedicine, and high cost 

Some of the factors that is set to impede the growth of the Tele-Intensive Care Services Market are regulatory barriers for telemedicine, and high cost.

Tele-Intensive Care Services Market Industry Outlook

Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Tele-Intensive Care Services Market. In 2019, the Tele-Intensive Care Services Market share is consolidated by the top ten players present in the market. Tele-Intensive Care Services Market, the top 10 companies are InTouch Technologies, Inc., Advanced ICU Care, Koninklijke Philips N.V., UPMC, Banner Health, TeleICUCare, Eagle Telemedicine, Apollo TeleHealth Services, SOC Telemed, and INTeleICU among others.

Acquisitions/Product Launches

  • In August 2020, Koninklijke Philips N.V. acquired Intact Vascular which is a medical device company developing minimally-invasive peripheral vascular products.

1. Tele-Intensive Care Services Market - Overview
    1.1 Definitions and Scope
2. Tele-Intensive Care Services Market - Executive Summary
    2.1 Market Revenue and Key Trends by Company
    2.2 Key trends by Component
    2.3 Key trends by Type
    2.4 Key trends by Geography
3. Tele-Intensive Care Services Market – Comparative Analysis
    3.1 Product Benchmarking – Key Companies
    3.2 Financial Analysis – Key Companies
    3.3 Market Value Split by Key Companies
    3.4 Patent Analysis – Key Companies
    3.5 Pricing Analysis
4. Tele-Intensive Care Services Market - Startup Companies Scenario Premium
    4.1 Key Startup Company Analysis by
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Venture Capital and Funding Scenario
5. Tele-Intensive Care Services Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing business index
    5.3 Case Studies of Successful Ventures
6. Tele-Intensive Care Services Market Forces
    6.1 Market Drivers
    6.2 Market Constraints/Challenges
    6.3 Porters five force model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Threat of new entrants
        6.3.4 Rivalry among existing players
        6.3.5 Threat of substitutes 
7. Tele-Intensive Care Services Market – Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Market Life Cycle
8. Tele-Intensive Care Services Market – By Component(Market Size –$Million/$Billion)
    8.1 Hardware
        8.1.1 Computer System
        8.1.2 Communication Lines
        8.1.3 Physiological Monitors
        8.1.4 Therapeutic Devices
        8.1.5 Video Feeds
        8.1.6 Display Panels
    8.2 Software
9. Tele-Intensive Care Services Market – By Type(Market Size –$Million/$Billion)
    9.1 Centralized
    9.2 Decentralized
    9.3 Hybrid
10. Tele-Intensive Care Services Market - By Geography(Market Size –$Million/$Billion) 
    10.1 North America
        10.1.1 U.S.
        10.1.2 Mexico
        10.1.3 Canada
    10.2 Europe
        10.2.1 U.K.
        10.2.2 France
        10.2.3 Germany
        10.2.4 Italy
        10.2.5 Spain
        10.2.6 Rest of Europe
    10.3 Asia Pacific
        10.3.1 China
        10.3.2 India
        10.3.3 Japan
        10.3.4 South Korea
        10.3.5 Australia & New Zealand
        10.3.6 Rest of APAC
    10.4 Rest of the World
        10.4.1 Middle East
        10.4.2 Africa
        10.4.3 South America
11. Tele-Intensive Care Services Market - Entropy
12. Tele-Intensive Care Services Market – Industry/Segment Competition Landscape   Premium 
    12.1 Market Share Analysis
        12.1.1 Global Market Share – Key Companies
        12.1.2 Market Share by Region – Key companies
        12.1.3 Market Share by Countries – Key Companies
        12.1.4 Best Practices for Companies
13. Tele-Intensive Care Services Market – Key Company List by Country Premium Premium
14. Tele-Intensive Care Services Market Company Analysis
    14.1 Company 1
    14.2 Company 2
    14.3 Company 3
    14.4 Company 4
    14.5 Company 5
    14.6 Company 6
    14.7 Company 7
    14.8 Company 8
    14.9 Company 9
    14.10 Company 10
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