According to the report, the global tele-intensive care unit market was approximately USD 1.85 billion in 2018 and is expected to generate around USD 5.71 billion by 2025, at a CAGR of around 17.4% between 2019 and 2025.
New York, NY, July 02, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Tele-Intensive Care Unit Market by Component (Hardware and Software AG ) and by Type (Centralized Models, Decentralized Models, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global tele-intensive care unit market was approximately USD 1.85 billion in 2018 and is expected to generate around USD 5.71 billion by 2025, at a CAGR of around 17.4% between 2019 and 2025.
Tele-ICU or tele-intensive care unit is a telemedicine application that deals with critical care of patients in the hospital. Tele-ICU helps in connecting the bedside ICU team with the critical care team from distant locations with the help of monitoring systems and audiovisual communication. The rising global population suffering from chronic illnesses is fuelling the global tele-intensive care unit market. Other factors supporting the tele-intensive care unit market growth are various benefits of tele-ICU, such as it helps in alerting clinicians of vital sign deviations and alarms and provides disruptions in case of complications by notifying hospital authorities. Moreover, the increase in geriatric population base, especially in developed economies, is also driving the growth of the tele-intensive care unit market, since aged people are more prone to health issues. In 2015, 68% of Medicare beneficiaries belonged to the age group of 60 to 85, of which almost 80% were between 65 and 70.
Browse through 37 Tables & 21 Figures spread over 110 Pages and in-depth TOC on “Global Tele-Intensive Care Unit Market: By Type, Size, Industry Share, Trends, Growth, Segment, Analysis and Forecast, 2018–2025”.
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On the basis of component, the tele-intensive care unit market is bifurcated into software and hardware. The hardware segment is further divided into video display panels, communication panels, therapeutic devices, computer systems, and others. The hardware segment held a major market share in 2018, due to its wide utilization. The software segment is likely to register the highest CAGR in the years ahead, due to the availability of advanced versions and regular upgrading.
By type, the tele-intensive care unit market includes decentralized models, centralized models, and others. Centralized models are likely to hold a major market share in the future, as these models employ permanent intensive-care experts to handle these tele-ICU systems and directly handle patient-related issues. Additionally, centralized models enable the making of efficient clinical decisions to counter any complications.
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North America dominated the global tele-intensive care unit market and held more than 55% market share in 2018. This can be attributed to robust IT infrastructure, a strong communication network, rising government investments, favorable regulatory policies, availability of trained healthcare personnel, and the presence of high-speed internet connectivity. Moreover, the presence of experienced telehealth service providers in the U.S. and Canada and increasing use of remote monitoring tools are further propelling this region’s market growth.
Europe held the second spot of the global tele-intensive care unit market in 2018 and is likely to show significant growth in upcoming years. This can be attributed to the increasing elderly population base in European nations along with rising investments in developing healthcare infrastructure.
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The Asia Pacific tele-intensive care unit market is new to tele-ICU technology. However, positive economic developments in emerging countries like South Korea, China, and India along with favorable government initiatives and huge target population are likely to contribute to this regional market in the future. Additionally, the region’s flourishing electronic devices industry, particularly human interface devices in Japan, Korea, and China, will further support the tele-intensive care unit growth over the forecast time period.
Latin America and the Middle East and Africa are vital regional markets that are likely to experience moderate growth in the upcoming years, owing to increasing government funding and rising healthcare expenditure.
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Some leading players operating in the global tele-intensive care unit market are Advanced ICU Care, SOC Telemed, Eagle Telemedicine, Intouch Technologies, Philips, INTeleICU, Banner Health, UPMC, iMDsoft, and INOVA.
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This report segments the global tele-intensive care unit market into:
Global Tele-Intensive Care Unit Market: By Component
Global Tele-Intensive Care Unit Market: By Type
Global Tele-Intensive Care Unit Market: By Region
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