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Tele Intensive Care Unit Market - 2022 by Size, Share, Forecast to 2028 | by Advanced ICU Care, INOVA, Banner Health

11-02-2022 12:29 PM CET | Media & Telecommunications

Press release from: INFINITY BUSINESS INSIGHTS

Tele Intensive Care Unit Market - 2022 by Size, Share, Forecast

New Jersey, United States - Analysis of Tele Intensive Care Unit Market 2022 to 2028, Size, Share, and Trends by Type, Component, Application, Opportunities, Growth Rate, and Regional Forecast

The Tele-Intensive Care Unit Market is anticipated to reach USD 6.1 billion by 2028, growing at a CAGR of 16.7% over the projected period. The main driver of the tele-intensive care unit (ICU) market expansion is an increase in demand for remote patient monitoring due to an aging population and technological advancements. According to data from the National Institutes of Health (NIH), 8.5% of the world's population, or about 617.0 million people, were over 65 in 2016.

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Furthermore, the 2015 global report on aging predicted that 17.0% of the world's population would be older than 65 by 2050. By 2050, 88 million people are anticipated to be 65 or older. Older adults are more likely to experience health problems, hence this age group has a high hospitalization rate, which could result in surgeries and the need for ICU units.

The use of tele-intensive care units improves the effectiveness of healthcare delivery, shortens the time needed for clinical judgment calls, and permits real-time access to the patient's medical records. This in turn increases demand for the services made possible by tele-intensive care units. The benefit of tele-intensive care unit implementation also includes a decrease in patient costs overall and a shortening of hospital stays. However, poor technology acceptance and high system implementation costs are significant roadblocks to industry expansion.

Segment Analysis:

The therapeutic devices sub-segment is anticipated to have a sizable market share in the hardware component of the market under study. Since telemedicine has shown great success rates in patients receiving critical care, its function as a therapeutic tool in the ICU cannot be avoided. Therapeutic gadgets are a crucial link in the delivery of higher-quality healthcare between local and large hospital systems. Over the projected term, this is anticipated to fuel segment expansion.

In many industrialised nations, the therapeutic devices have been successful in transferring neurological/cancer tests, diagnoses, and consultations over a variety of distances. Researchers have been studying the use of robotic devices in a variety of heart and brain indications, including stroke therapy, for the past ten years.

The need for software components is projected to be driven by the increasing demand for rapid software advancements and accessibility to newer versions. Although expensive, hardware components are widely used in the tele-intensive care unit market. Due to its effectiveness in managing patient-related problems, the intensivist paradigm is gaining popularity.

But over the foreseeable term, the intensivist approach is expected to have profitable growth.The tele-ICU system is managed by a full-time intensive care specialist under the intensivist concept. The patient's issues are handled directly in this model. To deal with any difficulties, the intensivist paradigm gives effective clinical decisions. Over the course of the projection period, intensivist availability is anticipated to increase, spurring the segment's expansion. However, its widespread use is constrained by the lack of sufficient qualified intensivist professionals.

Additionally, many nursing tasks are making them more dependent on therapeutic equipment and improving patient management even when they are not participating in therapeutic exchanges. It has been noted that there are more cancer research facilities now using teletherapy in radiation therapy, which uses external beams to treat cancer. Its importance is being aided by the therapeutic gadgets under tele-ICU, which have the ability to assist physicians and caregivers in bettering post-acute care, particularly for patients leaving the ICUs. The category is therefore anticipated to increase significantly over the course of the projected period as a result of the aforementioned causes.

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Regional Analysis:

Because of its excellent internet connectivity and robust IT infrastructure, North America is a crucial geographical market. Over the projection period, Asia Pacific is anticipated to have significant expansion. China, South Korea, and India are among the important nations that have contributed to the expansion of the regional market. The region's tele-ICU industry is also being driven by a sizable target population and improvements made to the healthcare system by the government.

Asia Pacific is anticipated to grow at a CAGR of 21.6% throughout the anticipated time frame. Economic growth in growing nations like China, South Korea, and India, as well as a sizable target market and supportive governmental activities for the improvement of the healthcare system, are anticipated to support regional market expansion.

Competitive Analysis:

Advanced ICU Care, INOVA, Banner Health, Philips, iMDsoft, InTouch health, UPMC Italy, INTELEICU, Tele-ICU, and VISICU are some of the major companies in the market. Hospital alliances and collaborations with hardware and software providers are important strategic endeavours in the industry as the business is still in its infancy.

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Infinity Business Insights is a market research company that offers market and business research intelligence all around the world. We are specialized in offering services in various industry verticals to recognize their highest-value chance, address their most analytical challenges, and alter their work.

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