Tele-Intensive Care Unit Market Developments and Forecast by 2031

The Tele-Intensive Care Unit Market was valued at US$ 2.9 billion in 2021 and is expected to reach US$ 10.7 billion by 2031. The market is expected to register a CAGR of 14.5% from 2023–2031.

Rising integration of technology and healthcare in healthcare facilities is likely to remain a key Tele-Intensive Care Unit Market trends.

Tele-Intensive Care Unit Market Analysis

Demand for Remote/Homecare Patient Monitoring

Incorporating tele-ICU improves overall capacity and throughput for hospitals with low admissions, readmissions, and remote treatment delivery. Also, tele-ICU's ability to reduce length-of-stay (LOS) allows hospitals to improve capacity and throughput by admitting more patients by maintaining the same number of critical care beds and associated ICU staffing costs. Hospitals are facing tremendous pressure to achieve better health outcomes due to serious shortages of physicians and nurses. To address this, various studies/surveys reveal that tele-ICU can help health systems improve operations, allowing more patients to be treated in low-capacity community hospitals ICUs rather than transferring to high-cost and high-capacity tertiary hospitals/centers. For example, installation of tele-ICU at low occupancy rates community hospital compared to big academic medical centers (AMCs) benefits by retaining more patients at their community ICU facilities, increasing Revenue Cycle Management (RCM), and enhancing healthcare delivery sustainability. The aforementioned factors are responsible for influential tele-intensive care unit market growth.

Tele-Intensive Care Unit Market Overview

Technology, innovation, and smart technological solutions continue to influence Tele-intensive care unit significantly. Demand for remote/homecare patient monitoring and efficient hospital outcomes through tele-intensive care unit are the most influential factors responsible for Tele-Intensive Care Unit Market growth. Technological advancement is a key trend for Tele-Intensive Care Unit Market growth. Outsourcing Tele-Intensive Care Unit will provide a lucrative market opportunity.

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Tele-Intensive Care Unit Market: Strategic Insights

Tele-Intensive Care Unit Market Drivers and Opportunities

Efficient Hospital Outcomes Through Tele-Intensive Care Unit to Favor Market

As per the statistics published by the Koninklijke Philips N.V. report, a 5-year study conducted in hospitals reveals that the impact of tele-ICU across 188, 990 critical care patients across 56 ICUs, 32 hospitals, and 19 reduced health systems resulted in a decrease of patient mortality cases and length of stay (LOS). Additionally, another study published by the Koninklijke Philips report reveals that tele-ICU reduces malpractice healthcare claims by almost 90%.

Therefore, efficient hospital outcomes in terms of reducing malpractice healthcare claims, low mortality rate, and fast hospital patient discharge will contribute significantly for the tele-ICU market in the coming years.

Outsourcing Tele-Intensive Care Unit– An Opportunity

For low-capacity healthcare units or hospitals (capacity of fewer than 50 ICU beds), it may not be possible to implement a complete enterprise tele-ICU with an in-house facility. Therefore, small-scale healthcare units or hospitals may collaborate with the top tele-ICU service providers. For example, Philips modular approach to enterprise tele-ICU service enables low-capacity healthcare units or hospitals to scale up/procure large ICU beds using an efficient implementation plan. For example, Philips "eICU Outreach Program" facilitates access to an extensive range of small to big critical care units or hospitals through a partnership with minimal investment. Therefore, the adoption of outsourcing tele-ICU service by small capacity critical care units or hospitals will provide lucrative market opportunities accounting considerable market share in the coming years for Tele-Intensive Care Unit market.

Tele-Intensive Care Unit Market Report Segmentation Analysis

Key segments that contributed to the derivation of the Tele-Intensive Care Unit Market analysis are candidature and services.

• Based on type, the market is divided into centralized, decentralized, and others. The centralized segment may hold a larger market share in 2023.
• By component, the market is segmented into hardware and software. The hardware segment may hold the largest share of the market in 2023.

Tele-Intensive Care Unit Market Share Analysis by Geography

The geographic scope of the Tele-Intensive Care Unit Market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.

North America has dominated the Tele-Intensive Care Unit Market. In North America, US accounts considerable share for tele-intensive care unit. The presence of top medical device companies present in the US, product innovations, and technologically advanced products are the most influential factors responsible for market growth. Asia Pacific is anticipated to grow with the highest CAGR in the coming years.

Tele-Intensive Care Unit Market Regional Insights

The regional trends and factors influencing the Tele-Intensive Care Unit Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses Tele-Intensive Care Unit Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Tele-Intensive Care Unit Market Report Scope

Tele-Intensive Care Unit Market Players Density: Understanding Its Impact on Business Dynamics

The Tele-Intensive Care Unit Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Tele-Intensive Care Unit Market News and Recent Developments

The Tele-Intensive Care Unit Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for Tele-Intensive Care Unit and strategies:

• In July 2023, Medanta (Group of Hospitals) announced the launch of Tele-ICU services in India as the "Medanta e-ICU project" in collaboration with GE Healthcare. The eICU platform will provide near real-time patient monitoring, even during odd hours like midnight, enabling early patient intervention.

Tele-Intensive Care Unit Market Report Coverage and Deliverables

The “Tele-Intensive Care Unit Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Market dynamics such as drivers, restraints, and key opportunities
• Key future trends
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
• Detailed company profiles