Top Trends Driving the Tele Intensive Care Unit Market Size

WASHINGTON, Feb. 18, 2022 (GLOBE NEWSWIRE) -- The rising number of intensive care units, coupled with technological advancements for remote patient monitoring are expected to generate revenue for Tele Intensive Care Unit Market in the near future. Rise in chronic diseases with the need to reduce hospitalization cost is key factor to promote growth of the Tele Intensive Care Unit Market during the forecast period. Owing to these enhancements Tele Intensive Care Unit Market that are expected to flourish in coming years, states Vantage Market Research, in a report, titled “Tele Intensive Care Unit Market by Component (Hardware, Software), by Type (Intensivist, Co-managed, Open, Open With Consultants), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.

The market size stood at USD 3.55 Billion in 2021. The Global Tele Intensive Care Unit Market size is expected to reach USD 9.05 Billion by 2028, exhibiting a CAGR of 16.1% during the forecast period.

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List of Prominent Players in the Tele Intensive Care Unit Market:

Inova (US)
INTeLeICU (India)
InTouch Technologies Inc. (US)
Koninklijke Philips NV (Netherlands)
Advanced ICU Care (US)

The report on Tele Intensive Care Unit Market highlights:

Assessment of the market
Premium Insights
Competitive Landscape
COVID Impact Analysis
Value Chain Analysis
Historic Data, Estimates and Forecast
Company Profiles
Porter’s Five Forces Analysis
Global and Regional Dynamics

Market Overview:

Driver: Healthcare Organizations to Provide Initiatives for Tele-Intensive Care Unit

More than 5 million patients are admitted annually in U.S. ICU clinics. ICU patients are a heterogeneous population, but all share the need for frequent assessment and a greater need for technological support than patients admitted to non-ICU beds. The healthcare organizations are providing guidelines for major health providers to deliver essential medical evaluation, diagnosis, and triage remotely.

Hospitals are benefiting from tele-intensive care unit services wherein electronic systems connect ICU patient data with remote locations as part of a collaborative network. For instance, the Indian government has initiated regulations to provide private doctors to start tele-ICU services that are expected to ease the pressure on government hospitals and health centres in rural and remote areas. Hence, owing to the splendour facilities provided by the healthcare organizations it is considered to be one of the key factors to drive the Tele Intensive Care Unit Market.

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Restraint: Increasing Regulatory Barriers to hinder the Tele Intensive Care Unit Market Growth

The lack of integration is one of the major problems at healthcare facilities, especially those that did not have electronic records. In some case it was found out that although the tele-ICU had real time access to most of the patient’s information. There is a possibility that monitored unit are not able share clinical notes or computerized physician order entry because of insufficient patient data available. These are some limitations possessed by tele-ICU which might slow down the market growth.

COVID-19 Impact Analysis:

The COVID-19 outbreak has affected various healthcare facilities worldwide. The Tele Intensive Care Unit Market also had a huge impact. Governments across the world took severe actions like border seals, lockdown, and implementing strict social distancing measures, in order to stop the swift spread of COVID-19. These actions led to a severe impact on the global economy impairing various industries. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data- points:

Impact Assessment of COVID-19 Pandemic
1. North America
2. Europe
3. Asia Pacific
4. Latin America
5. Middle East & Africa
Quarterly Market Revenue Forecast by Region 2020 & 2021
Key Strategies Undertaken by Companies to Tackle COVID-19
Long Term Dynamics
Short Term Dynamics

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Regional Analysis:

Increasing Growth of Tele Intensive Care Unit Market in North America

The Asia Pacific is expected to grow at the fastest rate during the forecast period, owing to the prevalence for increase in number of well-established tele-ICU facilities and technical institutes in the US and Canada. Also, large number of on-going research studies and growth of the overall tele-ICU sector in healthcare on a global scale are among the few factors expected to contribute to the growth of this market. Key players are spending huge funds in R&D which is also one of the factors that is booming the development of Tele Intensive Care Unit Market in this region.

For instance, In July 2020, U.S. Department of Veterans Affairs selects Philips to create world’s largest tele-critical care system, further integrating tele-health and delivering quality care for veterans. Veterans’ affairs are the largest integrated healthcare system in the U.S., consisting of more than 1,700 sites and serving nearly nine million veterans each year. It has become a leader in developing telehealth services in order to improve access to care and federate care delivery. In fiscal year 2019 alone, veterans’ affairs delivered more than 2.5 million telehealth episodes.

North America is anticipated to showcase largest growth over the forecast period. This is owing to government-funded population-based studies and foreign investments. This region is expected to witness substantial growth owing to unmet needs of the huge population base and improving healthcare infrastructure.

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Key questions answered in the report:

Which regional market will show the highest and rapid growth?
Which are the top five players of the Tele Intensive Care Unit Market?
How will the Tele Intensive Care Unit Market change in the upcoming six years?
Which application and product will take a lion’s share of the Tele Intensive Care Unit Market?
What is the Tele Intensive Care Unit market drivers and restrictions?
What will be the CAGR and size of the Tele Intensive Care Unit Market throughout the forecast period?

This market titled “Tele Intensive Care Unit Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:

Report Attribute	Details
Market Size in 2021	USD 3.55 Billion
Projected Market Size in 2028	USD 9.05 Billion
CAGR Growth Rate	CAGR of 16.1% From 2022 - 2028
Base Year	2021
Historic Years	2016 - 2020
Forecast Years	2022 - 2028
Segments Covered	Component Hardware Software Type Intensivist Co-Managed Open Open With Consultants
Quantitative Data - Units	Revenue in USD Million/Billion and CAGR from 2022 to 2028
Regions Covered	North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Countries Covered	U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Report Coverage	Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.

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