Increasing focus on reducing patient hospital stay along with technological advancements in remote patient monitoring are propelling the market growth.
NEW YORK , NEW YORK, UNITED STATES, September 17, 2021 /EINPresswire.com/ — Increasing focus on reducing patient hospital stay along with technological advancements in remote patient monitoring are propelling the market growth.
The Global Tele-Intensive Care Unit (ICU) Market size is estimated to reach USD 6.87 billion by 2027 from USD 2.26 billion in 2019, delivering a CAGR of 14.8%. Growth in the aging population across the globe, limited availability of the highly skilled intensive or critical care providers, physicians, and nurses, along with growing demand for an alternative to the physical hospital-based ICUs, are the key factors driving tele-intensive care unit market growth.
A tele-intensive care unit enables offsite clinicians to interact with bedside staff to consult on patient care. Telemedicine benefits involve nurse practitioners, ICU nurses, physicians, and other healthcare professionals to intervene from remote locations to offer patient monitoring.
The outbreak of COVID-19 has created a massive disruption in the flow of the healthcare industry. Most of the hospitals are converting into special units for managing a huge number of patients affected by the novel coronavirus. The number of positive cases is still on the rise, creating a massive shortage of ICU-beds. However, tele-ICUs have been proven highly effective and beneficial in the current crisis, where more and more healthcare providers have started adopting the technology to provide patient care.
Increasing incidence of chronic and infectious diseases, implementation of Tele-ICU units, the proliferation of the internet availability along with the innovations in the healthcare software & analytics and consumer electronics are the key factors that will positively impact tele-ICU market growth over the forecast period.
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Key players contributing to the Tele-Intensive Care Unit Market share are
Apollo Tele Health Services, Koninklijke Philips N.V., Advanced ICU Care, UPMC, Banner Health, Eagle Telemedicine, TeleICUCare, SOC Telemed, INTeleICU, and InTouch Technologies, Inc., among others.
The global Tele-Intensive Care Unit (ICU) market is expected to register significant growth throughout the forecast period. The pharmaceutical & healthcare sector has register significant revenue growth over the recent past. Technological advancements in the healthcare and medical sector, availability of latest tools and techniques, increasing investments in the healthcare sector and improving healthcare infrastructure are key factors boosting market growth. In addition, rising funds by several public and private sectors, high adoption of POC diagnosis and home care settings, is further fueling market growth.
The current pandemic has been very challenging for all industries including the healthcare and pharma sector. Shortage of medicines, vaccines and others healthcare facilities is expected to open lucrative growth opportunities for market players in going ahead.
The report offers detailed information about recent activities by market players, their market position, financial status, global standing, services and product portfolio along with license agreement. These key players are adopting various strategies such as partnerships, collaborations, merger and acquisitions, and joint ventures to gain robust footing in the market. These players are also investing in research and development activities to come up with enhanced materials and products.
Further key findings from the report suggest
• Based on type, the decentralized segment is estimated to account for the majority of the market revenue share, delivering a CAGR of 16.2% through 2027.
• The centralized model segment is estimated to contribute significantly to the tele-intensive care unit market share, generating revenue close to USD 4.02 billion by 2027 as advanced data technologies are enabling hospitals to centralize their application servers and patient record servers in one location.
• Based on component, the software segment was cumulative to USD 564.19 million in 2019 and is forecast to witness a CAGR of 20.2% over the forecast period.
• In the regional landscape, North America accounted for the majority of the tele-intensive care unit market in 2019 and is anticipated to exhibit a growth rate of 15.2% through 2027. The robust growth can be attributed to the increasing integration of the tele-ICU model across the U.S., enabling a single offsite physician to cover many centers in order to increase efficiency and cutting overall staffing costs.
• The Asia-Pacific region is estimated to showcase a CAGR of 18 % over the forecast period on account of the huge target population along with the advancement of the healthcare system supported by the regional government.
• In March 2020, Two Israeli hospitals Ichilov Hospital and Sheba Medical Center launched AI-based tele-ICU to support the growing number of COVID-19 patients. CLEW-ICU, the platform offered by the hospitals, uses AI-based predictive analytics to exponentially expand the capacity of the intensive care units and required resources in it.
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For the purpose of this study, Reports and Data has segmented the Tele-Intensive Care Unit Market on the basis of type, component, type of ICU, and region:
Type Outlook (Revenue, USD Billion; 2017-2027)
• Surgical Robots
• Rehabilitation Robots
• Emergency Response & Utility Robots
Component Outlook (Revenue, USD Billion; 2017-2027)
Type of ICU Outlook (Revenue, USD Billion; 2017-2027)
• Traditional Medical ICU (TMICU)
• Cardiac Care Unit (CCU)
• Neonatal ICU (NICU)
• Pediatric ICU (PICU)
• Trauma ICU (TICU)
• Psychiatric ICU (PICU)
• Post-Anesthesia CU (PACU)
• High-Dependency Unit (HDU)
Regional Outlook (Revenue, USD Billion; 2017-2027)
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
Key findings in the report:
• Information about key trends, technological developments, growing focus on drug discovery and investments in research and development activities
• Detailed insights about manufactures, product portfolios, pricing analysis and financial pricing
• Technological developments and detailed analysis in the volatile competitive landscape.
• New strategies adopted by new and emerging market players
• Estimation about manufactures, sales and import and export dynamics
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Source: EIN Presswire