Tele-Intensive Care Unit Market Size, Share & Trends Analysis Report By Type (Intensivist, Open with Consultants), By Component (Hardware, Software), By Region, And Segment Forecasts, 2019 - 2026

Industry Insights

The global tele-intensive care unit market size was valued at USD 1.8 billion in 2018 and is expected to witness a CAGR of 16.7% over the forecast period. Continuous rise in the demand for remote monitoring and growing old age population has been the vital driving factors in the market. Continuous real-time monitoring and remote access to patient data are the key features associated with these services. This reduces clinical decision time and facilitates efficient healthcare delivery. Moreover, the implementation of these systems improvises patient care.

According to the United Nations data published in 2017, around 960 million people were aged above 60 across the globe, accounting for 13.0% of the global population. The reduced length of stay is the important determinant offered by the remote intensive care units (ICU). The average reduction in hospital stays cuts unnecessary burdens on the patient. However, the high cost of technologies and implementation issues are expected to impede the market growth.

The growing need for frequent software advances and accessibility to newer versions are anticipated to drive the demand for software components. Although hardware components are costly, they are extensively employed in the market. The intensivist model is gaining traction owing to its ability to efficiently handle complications associated with the patients.

North America is a key regional market owing to the presence of strong IT infrastructure and exceptional internet connectivity. Asia Pacific is anticipated to witness significant growth over the forecast period. Countries including China, South Korea, and India are the key contributors to the regional market growth. In addition, huge target population and advancement of the healthcare system by the government are driving the tele-ICU market in the region.

Component Insights

The hardware component was the dominant segment in 2018, accounting for 86.2% share of the overall revenue. Hardware components are utilized in large volumes and the cost associated with them is very high.

The software component is anticipated to witness lucrative growth over the forecast period. The availability of newer versions and the regular upgrading is expected to contribute towards the growth of this segment. Philips, the global leader in health technology showcased its eCareManager 4.1 tele-health software at the American Telemedicine Association (ATA) trade show in April 2017. The software enhances clinical decision support.

Type Insights

The open with consultants segment held 42.4% share of the overall revenue in 2018, owing to its deployment in many tele-intensive care unit software and high efficiency. However, the intensivist model is anticipated to witness lucrative growth over the forecast period.

The intensivist model employs the full-time intensive-care expert to handle the tele-ICU system. In this model, the patient’s problems are managed directly. The intensivist model offers efficient clinical decisions to counter any complications. The availability of the intensivists is expected to rise over the forecast period, thereby fuelling the segment’s growth. However, scarcity of adequate qualified intensivist staff limits its adoption all over.

Regional Insights

North America dominated the market in 2018, accounting for 60.6% share in terms of revenue. The presence of high-speed internet connectivity, IT infrastructure, and robust communication networks is propelling market growth in the region. Moreover, the presence of prominent telehealth service providers in the U.S. and growing usage of remote monitoring tools boost market growth.

Asia Pacific is poised to expand at a CAGR of 21.6% over the forecast period. Economic strides in the emerging countries, such as China, South Korea, and India, coupled with a huge target population and favorable government initiatives for the advancement of the healthcare system, are expected to contribute to the regional market growth. Moreover, bolstering medical device electronics, especially remote human-machine interface devices, are anticipated to support growth in the region.

Tele-Intensive Care Unit Market Insights

Key players operating in the market include Advanced ICU Care, INOVA, Banner Health, Philips, iMDsoft, InTouch health, UPMC Italy, INTELEICU, Tele-ICU, and VISICU. The market is in a nascent stage; hence, partnerships and collaborations of hospitals with hardware and software vendors are notable strategic initiatives in the industry. For instance, in January 2018, Florida Hospital New Smyrna announced a partnership with Advanced ICU Care to offer tele-ICU services to critically ill patients admitted to the hospital.

Report Scope

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis on the latest industry trends in each of the sub-segments from 2015 to 2026. For the purpose of this study, Grand View Research has segmented the global tele-intensive care unit market report on the basis of component, type, and region:

• Component Outlook (Revenue, USD Million, 2015 - 2026)  

  • Hardware

    • Computer System

    • Communication Lines

    • Physiological Monitors

    • Therapeutic Devices

    • Video Feed

    • Display Panels

  • Software

• Type Outlook (Revenue, USD Million, 2015 - 2026)    

  • Intensivist

  • Co-managed

  • Open

  • Open With Consultants    

• Regional Outlook (Revenue, USD Million, 2015 - 2026)

  • North America

    • The U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

  • Asia Pacific

    • Japan

    • China

    • India

    • Thailand

    • South Korea

  • Latin America

    • Brazil

    • Mexico

    • Argentina

    • Colombia

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE