Tele-Intensive Care Unit (ICU) Market Report

Tele-Intensive Care Unit (ICU) Market Analysis By Component (Hardware, Software), By Type (Intensivist, Co-managed, Open, Open With Consultants) And Segment Forecasts To 2024

Published: June 2016  |  96 Pages  |  Format: PDF  |  Report ID: 978-1-68038-894-7

Industry Insights

The global tele-Intensive Care Unit (ICU) market was valued at USD 1.20 billion in 2015. The rising demand for remote patient monitoring is anticipated to be a vital driver. Real-time monitoring and remote patient data accessibility are the key benefits associated with these services, which further reduce the clinical decision time and helpsinfacilitating efficiency in healthcare delivery.

The implementation of this system improves the overall efficiency in care. For instance, tele-ICU settings continuously alert clinicians with vital sign deviations, alarms, and interruptions that may further result in complications.

This feature is facilitating the implementation of these systems. According to the data published by the Critical Care Journal, in 2010, about 27.0% reduction in the hospital mortality was observed at Sentara Hospital, Virginia within a year of installation of this system. Hence, the reduction in complication rate by tele- Intensive Care Unit is anticipated to act as a high impact rendering driver.

The reduced Length of Stay (LOS) is another important benefit offered by these remote intensive care systems. The reduction in hospital stays further leadstothe overall cost reduction for a patient. Hence, this is anticipated to be a key demand generating factor for this industry.

North America tele-ICU market share, by type, 2013 - 2024 (USD Million)

North America tele-ICU market

Components Insights

Based on components, the tele-ICU market is bifurcated into hardware and software components. Based on products, hardware components are further sub-segmented into computer systems, communication lines, physiological monitors, therapeutic devices, video feeds, and display panels.

Hardware components dominated the segment with over 80.0% share in 2015. The hardware components are utilized in larger volumes and the costs associated with them are high, thereby dominating this segment.

On the other hand, the software component is projected to witness a lucrative growth over the forecast period. The availability of newer versions and the regular upgrading are expected to contribute towards the growth of this segment.

Type Insights

The market based on types or model of care is divided into intensivist, co-managed, open, and open with consultants. The open with consultant segment held a substantial share in 2015; however, the intensivist model is anticipated to witness a lucrative growth over the forecast period.

The intensivist model facilitates the full-time intensive care specialist to handle the tele- Intensive Care Unit system. This offers efficiency in terms of clinical decisions and avoids complications. The availability of these intensivists over the forecast period is anticipated to rise, propelling the growth of this segment.

Regional Insights

Geographically, this industry is divided into North America, Europe, Latin America, Asia Pacific, and the MEA. North America dominated with a lucrative share of about 60.0% in 2015. The availability of supportive infrastructure, such as high-speed internet, communication network, and training personnel, supported the dominance of the tele-ICU market in the region.

Moreover, the presence of top telehealth service providers in this region, especially in the U.S. and the rising demand for home healthcare and remote patient monitoring boosts the growth of this industry in this region.

On the contrary, Asia Pacific is projected to grow at a substantial rate of around 24.0% over the forecast period. Economic developments in countries,such as China and India,along with supportive government initiatives for the advancement of healthcare system are expected to contribute towards the regional growth.

In addition, bolstering the electronic devices industry, especially human machine interface devices industry in countries, such as China, Japan, and Korea, is anticipated to support the adoption of this service in the coming eight years.

Competitive Market Share Insights

The key vendors of tele-ICU include advanced ICU care, Banner Health, inTouch health, Philips, iMDsoft, UPMC Italy, INTELEICU, TeleICU, INOVA, and VISICU. The industry is in the nascent stage; hence, the key strategy is to increase the market reach. Partnerships with hospitals and collaboration with hardware and software vendors are the notable initiatives in this industry.

For instance, in March 2016, advanced ICU care opened a center in Honolulu for expanding its regional presence. With this new center, the company would be connected to the care centers in New York City, Houston, St.Louis, Charleston, and Irvine.

Analyst Perspective

The study, global tele-ICU market highlights key components and various types of critical care system. Market estimates and forecasts are based on various approaches and models. Commodity flow approach is one of them, wherein the volume of tele-ICU system and cost of implementation as well first year’s operating cost of these systems have been used to estimate the revenue generation.

The report gives a complete representation of trends in the remote intensive care management, initiatives from top market players, and key success factors in this industry. These insights provide a complete comprehension of the tele-ICU market and facilitates logical decision making.

The regional scope of the report is kept limited to assure the proportion of studies; however, it can be further customized based on the requirement.

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