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

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Tele-Intensive Care Services Market Overview

Tele-Intensive Care Services Market size is estimated at $3.4 billion in 2020, projected to grow at a CAGR of 14.2% during the forecast period 2021-2026. A tele-intensive care unit (tele-ICU) applies telemedicine in an intensive care unit (ICU) setting, allowing off-site clinical resources to offer treatment to critically ill patients. The growth of the Tele-Intensive Care Services Industry is being fueled by an increase in the number of intensive care units around the world, as well as continuous technical breakthroughs in patient care and remote patient monitoring technology. Tele-ICU uses audio-visual communication, an EMR system, and remote patient monitoring systems to connect the critical care team at a remote site with the bedside ICU team. The main goal of the tele-ICU system is to provide increased safety through redundancy and to improve results through standardisation, rather than to replace bedside clinicians or bedside care driving the Tele-Intensive Care Services Market during the forecast period 2021-2026.

Tele-Intensive Care Services Market Report Coverage

The report: Tele-Intensive Care Services Market Forecast (2021-2026)”, by Industry ARC, covers an in-depth analysis of the following segments of the Tele-Intensive Care Services Market.

By Service Type: Centralized, Decentralized and Hybrid.
By Unit Type: Intensivist, Co-managed, Open and Open With Consultants.
By Component Type: Hardware – (Computer System, Communication Lines, Physiological Monitors, Therapeutic Devices, Video Feed & Display Panels) and Software.
By Geography: North America (U.S, Canada and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia and Rest of Europe), Asia Pacific (China, Japan India, South Korea, Australia & New Zealand, and Rest of Asia Pacific), South America (Brazil, Argentina and Rest of South America) and RoW (Middle East and Africa).

Key Takeaways

  • The rapidly rising health consciousness of people around the globe continue to fuel the Tele-Intensive Care Services industry's expansion.
  • Geographically, Asia-Pacific Tele-Intensive Care Services Market held the largest revenue share of 32% in 2020 owing to the presence of high-speed internet connectivity in the region. The scope of the Tele-Intensive Care Services Market for various regions will be provided in the final report.
  • The Tele-Intensive Care Services Industry is expanding owing to the increased use of telemedicine to allow for remote patient monitoring and management of ICU patients by specialty-trained clinicians is becoming more common.
  • The market's growth will also be fuelled by ongoing research and advancements in applications is pushing the Tele-Intensive Care Services industry forward during the forecast period 2021-2026.
  • Regulatory barriers for telemedicine and high cost is poised to create hurdles for the Tele-Intensive Care Services Market.

Tele-Intensive Care Services Market: Market Share (%) by Region, 2020

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Tele-Intensive Care Services Market Segment Analysis – By Service Type

Based on Service Type, Centralized Segment accounted for the largest revenue market share in 2020 and is also projected to grow with the fastest CAGR of 15.3% in the forecast period 2021-2026. 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 is an established site with staffing that includes intensivists, nurses, and clerical and technical staff for patient care & remote patient monitoring. The centralized paradigm has enough published data to be linked to reduced mortality and ICU length of stay while remaining cost-effective. Improved compliance with best practises, off-hours implementation of the bedside physician's care plan, identification of and rapid response to physiological instability, and rapid response to alerts, alarms, or direct notification by bedside clinicians are all factors linked to improved clinical outcomes. The bedside clinician can give the treatment that only they can deliver with enhanced communication and frequent patient care reviews between the tele-ICU and the bedside clinicians, driving the segment growth. Integrated Anesthesia Workstations segment is anticipated to grow with the second fastest CAGR in the forecast period 2021-2026 owing to technological advancements operating in the segment.

Tele-Intensive Care Services Market Segment Analysis – By Component Type

Based on Component Type, Hardware accounted for the largest revenue market share in 2020 owing to technical innovations in the components. Medical therapy devices are a wide range of gadgets designed to help individuals cope with physical ailments. Psychological expertise was utilised in the development of these gadgets, and it can also be useful in understanding and resolving problems with their use. Despite their high cost, hardware components are widely used in the market. The intensivist concept is gaining popularity for its capacity to effectively manage patient problems. In the decentralised tele-ICU, therapeutic devices are extremely useful for patient care and remote patient monitoring. The first specialised Robot-Assisted Cardiac Surgery Unit in India opened in 2019 at Apollo Hospitals Bangalore, India. Thus, introduction of such technologically advanced devices are propelling the industry forward. Software is projected to witness the fastest CAGR of 16.1% during the forecast period 2021-2026. The segment's growth is projected to be aided by the availability of newer versions and regular upgrades. At the American Telemedicine Association (ATA) trade event in April 2017, Philips, a global leader in health technology, demonstrated their eCare Manager 4.1 telehealth software. The programme aids in clinical decision-making. The demand for software components is expected to rise as the demand for regular programme updates and access to newer versions grows, hence enhancing the market's growth.

Tele-Intensive Care Services Market Segment Analysis – By Geography

Based on Geography, Asia-Pacific Tele-Intensive Care Services Market accounted for the 32% revenue share in 2020 owing to advancements in patient care and remote patient monitoring services. The number of ailments, such as obesity, cardiovascular problems, and various types of malignancies, is expected to continue to climb in the region. For instance, In India, the prevalence of chronic diseases such as cardiovascular disease, respiratory disease, mental illness, diabetes, and cancer has increased, resulting in an increase in ICU admissions. According to Globocan India, there were 11,57,294 new cancer cases in India in 2018 and roughly 7,84,821 cancer-related deaths, contributing to an increase in the number of open and minimally invasive procedures which propel the Tele-Intensive Care Services Market. North America is predicted to be the fastest growing region during the forecast period 2021- 2026 owing to the presence of well-developed health care settings and increasing health awareness levels amongst the people.

Tele-Intensive Care Services Market Drivers

Rising Demand For Remote Patient Monitoring is Fuelling the Demand for Tele-Intensive Care Services:

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 centre communicates with remote ICU employees through speech and can receive televised images and clinical data about the patients. The discovery that caring for ICU patient care by dedicated intensivists improves both patient and cost results spurred the development of Tele-Intensive care services. The monitoring centre can consolidate and standardise treatment, reduce transfer while maximising bed use, and support onsite staff with the help of a centralised remote patient. This lowers expenses while improving revenue, patient flow, and capacity management throughout the system, thereby, aiding expansion to the Tele-Intensive Care Services Industry.

Tele-Intensive Care Services Market Challenges

High Implementation Cost and Lack of Information To Limit Market’s Development:

The Tele-Intensive Care Services Market's growth is hampered by the high implementation costs and a lack of information about how to handle Tele-Intensive Care globally. For instance, in American ICUs, between 400,000 and 500,000 people die each year. The ICU staff is burdened by the extremely complex environment and significant obligations. There is a significant shortage of ICU personnel, and the number of critical care beds has increased while the number of critical care facilities has dropped. Also, due to high treatment costs and high set-up costs, it is difficult for underdeveloped and emerging countries to afford high initial capital requirements for telemedicine, limiting the market's growth.

Tele-Intensive Care Services Market - Landscape:

The Tele-Intensive Care Services Market's main strategies include product launches, mergers and acquisitions, joint ventures, and regional expansion. Tele-Intensive Care Services Market 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
  • INTeleICU
  • Danaher Corporation

Acquisitions/Product Launches:

In June 2021, Danaher Corporation Danaher Corporation has signed a formal agreement to acquire privately held Aldevron for $9.6 billion in cash. Danaher plans to fund the transaction with cash on hand and/or proceeds from commercial paper issue. Aldevron has made significant contributions to the development of innovative medicines and vaccines based on cell, gene, and other technologies. This purchase will broaden the company's capabilities in the crucial field of genomic medicine, assisting clients in their drive to bring more life-saving treatments and vaccines to market more quickly.

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1. Tele-Intensive Care Services Market - Overview
    1.1 Definitions and Scope
2. Tele-Intensive Care Services Market - Executive Summary
    2.1 Market Revenue, Market Size and Key Trends
    2.2 Key trends by Service Type
    2.3 Key trends by Component Type
    2.4 Key trends by Geography
3. Tele-Intensive Care Services Market - Comparative Analysis
    3.1 Company Benchmarking – Key Companies
    3.2 Financial Analysis– Key Companies
    3.3 Market Share Analysis– Key Companies
    3.4 Patent Analysis
    3.5 Pricing Analysis- Average Selling Price
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 Service Type (Market Size –$Million/$Billion)
    8.1 Centralized
    8.2 Decentralized
    8.3 Hybrid
9. Tele-Intensive Care Services Market – By Unit Type (Market Size –$Million/$Billion)
    9.1 Intensivist
    9.2 Co-managed
    9.3 Open
    9.4 Open With Consultants
    9.5 Advanced Anesthesia Monitors
10. Tele-Intensive Care Services Market – By Component Type (Market Size –$Million/$Billion
    10.1 Hardware
        10.1.1 Computer System
        10.1.2 Communication Lines
        10.1.3 Physiological Monitors
        10.1.4 Therapeutic Devices
        10.1.5 Video Feed
        10.1.6 Display Panels
    10.2 Software.
11. Tele-Intensive Care Services Market - By Geography (Market Size –$Million/$Billion)
    11.1 North America
        11.1.1 U.S.
        11.1.2 Canada
        11.1.3 Mexico
    11.2 Europe
        11.2.1 U.K.
        11.2.2 Germany
        11.2.3 France
        11.2.4 Italy
        11.2.5 Spain
        11.2.6 Russia
        11.2.7 Rest of Europe
    11.3 Asia-Pacific
        11.3.1 China
        11.3.2 India
        11.3.3 Japan
        11.3.4 South Korea
        1.3.5 Australia & New Zealand
        11.3.6 Rest of Asia-Pacific
    11.4 South America
        11.4.1 Brazil
        11.4.2 Argentina
        11.4.3 Rest of South America
    11.5 Rest of the World
        11.5.1 Middle East
        11.5.2 Africa
12. Tele-Intensive Care Services Market - Entropy
13. Tele-Intensive Care Services Market – Industry/Segment Competition Landscape Premium 
    13.1 Market Share Analysis
        13.1.1 Global Market Share – Key Companies
        13.1.2 Market Share by Region – Key companies
        13.1.3 Market Share by Countries – Key Companies
        13.1.4 Competition Matrix
        13.1.5 Best Practices for Companies
14. Tele-Intensive Care Services Market – Key Company List by Country Premium Premium
15. Tele-Intensive Care Services Market Company Analysis
    15.1 Company 1
    15.2 Company 2
    15.3 Company 3
    15.4 Company 4
    15.5 Company 5
    15.6 Company 6
    15.7 Company 7
    15.8 Company 8
    15.9 Company 9
    15.10 Company 10
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