The Tele-Intensive Care Unit Market Size is accounted for USD 1820 Million in 2018 and expected to register 16.4% CAGR during the forecast period.
The rising geriatric population, technological advancements in the healthcare sector, increasing occurrence of chronic disorders in the developed and developing countries, and increasing cases of patients affected by neurological disorders across the globe are the major factors driving the growth of the global tele-intensive care unit (ICU) market. Additionally, increasing RD spending and aggressive strategies adopted by the top players are fueling the growth of the market during the forecast period. According to the World Health Organization and International Agency for Research on Cancer (IARC) reported that in 2018, there were 18.1 million new cases of cancer which is projected to reach 43.8 million over the next five years. The rising worldwide prevalence of cancer is propelling the demand for tele-intensive care unit (ICU), thereby supporting market growth.
Tele-intensive care unit (ICU) are used for the management of various medical complications and to treat critically ill patients by using off-site clinical resources. Tele-intensive care units (ICU) are part of telemedicine, and it uses advanced technology to carry out activities such as monitoring, treatment, and rehabilitation.
The high costs associated with establishments of tele-intensive care unit (ICU) and lack of reimbursement policy are likely to hinder the market growth during the forecast period.
The global tele-intensive care unit (ICU) market has been classified on the basis of component and type of management.
Based on component, the market has been classified as hardware and software. The market, by hardware, has been further segmented into computer system, communication lines, physiological monitors, therapeutic devices, video feeds, and others.
On the basis of management, the market has been segmented into intensivist, open, co-managed, open with a consultant, and other types of management.
Tele icu companies includes Intouch Technologies, Inc., SOC Telemed, Advanced Icu Care, UPMC, Banner Health, Teleicucare, Koninklijke Philips N.V., Eagle Telemedicine, Apollo TeleHealth Services, and Inteleicu1.
The Americas are likely to dominate the global Tele-Intensive Care Unit (ICU) market owing to the technological advancements related to healthcare, rising cases of chronic disorders, and an increasing number of hospitals in the regions. The European market is expected to be the second-largest Tele-Intensive Care Unit (ICU) market due to the rising demand of healthcare systems which can provide real-time data, the surge in cases of neurological disorders in the European region, and government funding and support of the healthcare sector. Moreover, the market in Asia-Pacific is anticipated to be the fastest-growing during the forecast period owing to the rising geriatric population, increasing investments in healthcare, and expansions by market players in the region. The market in the Middle East Africa is likely to account for the smallest share of the global tele-intensive care unit (ICU) market.
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