Virtual ICU Market: Technologies, Applications, and Market Potential

Virtual ICU Market Assessment worth $ 11.58 Billion by 2030 - Exclusive Report by InsightAce Analytic

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Virtual ICU Market- by Component (Hardware (Computer System, Communication Lines, Physiological Monitors, Therapeutic Device, Video Feed, Display Panels) and Software), Type (Traditional Medical ICU (TMICU), Cardiac Care Unit (CCU), Neonatal ICU (NICU), Pediatric ICU (PICU), Trauma ICU (TICU), Psychiatric ICU (PICU), High-Dependency Unit (HDU), and Others), End-User (Payer, Patient, and Provider), Trends, Industry Competition Analysis, Revenue and Forecast To 2030."

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The global virtual intensive care unit (VICU) market , with an estimated worth of US$ 3.49 billion in 2021, is poised for significant growth. Projections indicate a compound annual growth rate (CAGR) of 14.65% from 2022 to 2030, as per the latest research by InsightAce Analytic.

A virtual intensive care unit, or tele-ICU, is a telemedicine service that manages a patient's critical care in a hospital setting . It leverages monitoring technologies and audio-visual communication to bridge the gap between the ICU personnel at the patient's bedside and the critical care team at a different location. The virtual ICU's primary advantage lies in its ability to establish a seamless connection between the hospital's ICU personnel and the critical care team, using video conferencing and analytics or monitoring systems.

The hardware of the virtual ICU tracks patient data and transmits it to an intensivist or physician stationed elsewhere. Because more hospitals and intensive care units are inside hospitals globally, virtual ICUs are expected to rise dramatically throughout the projected time. The increased investments made by hospitals to improve operational efficiency via the implementation of cutting-edge technologies and communication systems are another important driver in the market for virtual intensive care units.

In addition, the increasing prevalence of chronic illnesses and traffic accidents is expected to drive up the adoption of the virtual intensive care unit (ICU) in hospitals. The ageing population and the increasing disease burden further exacerbate the need for the virtual intensive care unit. The global market for virtual critical care units is growing because the healthcare industry is quickly adopting digital or virtual technology.

The virtual ICU is becoming increasingly popular because of the expectation that the COVID-19 pandemic would spread swiftly beginning in 2020. Customer interest in telemedicine, especially the virtual intensive care unit, has grown dramatically since the COVID-19 pandemic. The growing use of virtual or tele-ICUs worldwide is anticipated to fuel the growth of this service industry over the forecast period.

One of the main problems influencing the worldwide virtual ICU sector is the lack of intensivists. Over the projected years, North America is expected to contribute significantly to the virtual intensive care unit industry. The ageing population and the rising prevalence of chronic diseases in affluent nations such as the US drive the need for virtual intensive care units in the region. The developed healthcare infrastructure in North America facilitates the quick deployment of cutting-edge technology and fuels the growing demand for contemporary healthcare-related products and software, which drives the market for virtual intensive care units. Furthermore, the Asia Pacific Virtual ICU market is anticipated to grow significantly throughout the projected period. The market is increasing due to the region's quickly developing healthcare infrastructure and rising public awareness of virtual ICU systems.

Furthermore, it is projected that the quickly growing IT infrastructure and digital communications across developing nations like China, India, and South Korea will fuel demand for virtual intensive care units in the region shortly. Advanced ICU Care, Banner Health, InTouchhealth, Philips, iMDsoft, UPMC Italy, INTELEICU, Tele-ICU, Apollo Tele Health Services, INOVA, VISICU, Eagle Telemedicine, SOC Telemed, Atrium Health, Capsule Technologies are some of the prominent industry participants involved in the Virtual ICU market. Current partnerships and agreements in the industry:

• ICU Medical Inc. successfully purchased Smiths Medical from Smiths Group plc in January 2022. Vascular access, syringe and mobile infusion devices, and basic medical supplies are all part of Smiths Medical's product line. • In January 2021, Capsule Technologies, Inc. was to be acquired by Royal Philips, a global leader in health technologies. The purchase of Capsule aligns well with Philips' goal of improving care delivery throughout the health continuum through integrated solutions.

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Market Segments
Global Virtual ICU Market, by Component, 2022-2030 (Value US$ Mn)

• Hardware
• Computer System
• Communication Lines
• Physiological Monitors
• Therapeutic Devices
• Video Feeds
• Display Panels
• Software

Global Virtual ICU Market, by Type, 2022-2030 (Value US$ Mn)

• Traditional Medical ICU (TMICU)
• Cardiac Care Unit (CCU)
• Neonatal ICU (NICU)
• Pediatric ICU (PICU)
• Trauma ICU (TICU)
• Psychiatric ICU (PICU)
• High-Dependency Unit (HDU)
• Others

Global Virtual ICU Market, by End-Users, 2022-2030 (Value US$ Mn)

• Payer
• Patient
• Provider

Global Virtual ICU Market, by Region, 2022-2030 (Value US$ Mn)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

North America Virtual ICU Market, by Country, 2022-2030 (Value US$ Mn)

• U.S.
• Canada

Europe Virtual ICU Market, by Country, 2022-2030 (Value US$ Mn)

• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe

Asia Pacific Virtual ICU Market, by Country, 2022-2030 (Value US$ Mn)

• India
• China
• Japan
• South Korea
• Australia & New Zealand

Latin America Virtual ICU Market, by Country, 2022-2030 (Value US$ Mn)

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa Virtual ICU Market, by Country, 2022-2030 (Value US$ Mn)

• GCC Countries
• South Africa
• Rest of Middle East & Africa

Why should buy this report:
 To receive a comprehensive analysis of the prospects for the global Virtual

ICU market
 To receive an industry overview and future trends of the Virtual ICU market
 To analyze the Virtual ICU market drivers and challenges
 To get information on the Virtual ICU market value (US$Mn) forecast to 2030
 Significant investments, mergers & acquisitions in the Virtual ICU market industry

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