Tele-ICU Services Market

Tele-ICU Services Market (2022-2032)

The global tele-ICU services market is valued at USD3.29 Billion in the year 2022. The market is expected to cross the valuation of USD 13.21 Billion by end of 2032. Tele-ICU market is expected to grow with a CAGR of 16.7% in the forecast duration 2022-2032.

Report Attributes	Details
Tele-ICU Services Market size (2022 A)	USD3.29 Billion
Base Year for Estimation	2022
Forecast duration for this research	2022-2032
Forecasted Market value (2032 F)	USD 13.21 Billion
Global Market Growth rate (2022-2032 E)	CAGR 16.7%
Key Companies Profiled	Banner Health, Philips, UPMC Italy, TeleICU, VISICU, Advanced ICU Care, inTouch Health, iMDsoft, INTeleICU Inova.

The impetus to tele-ICU services

The rising demand for intensive care services is driving growth in the tele-ICU market in response to an ageing population, scenarios like the pandemic, and the prevalence of chronic ailments. Tele-ICU involves the exchange of health data among hospitals using the electronic medium of communication. These services enable services for different care centres. The critical care team finds this service most relevant in case of medical emergencies and in case of necessity to contact patients.

Along with the ageing population, increased prevalence of critical illnesses, and advances in higher-risk medical therapies, demand for intensivists is increasing. Tele-ICU services are the best solution in sight, looking at the shortage of intensivists, more ageing population, and the increased prevalence of critical illness requiring ICU attention.

The remote tele-ICU avails patient interaction through audio and video calling using electronic services. These efficiencies and applications have fostered the demand for tele-ICU services in the last decade. The tele-ICU field is expected to attract alarming demand in developing countries where there is a lack of patient care infrastructures such as beds and ICU units. The majority of health infrastructures are limited only to urban areas, which scatter health facilities. The lack of trained staff greatly enhances this problem. This situation has a decisive say in the rise in preference for tele-ICU services.

Moreover, technological evolution accommodates extensive abilities to use lesser bandwidths. At the same time, trends such as cloud computing have the potential to grow with the utilization of smart devices like I-pads, smartphones, and android devices having relatively high-speed connectivity.

The rising penetration of these smart devices drives demand for telemedicine which influences tele-ICU services. The method of teleconsultation has become popular owing to the penetration of digital devices into patients’ daily routines.

Tele-ICU services market capabilities and hospitals can make maximum use of their existing critical care resources. In 2017, an estimated 962 Million people aged 60 or over in the world, comprising 13% of the global population. The ageing population of age 60 or older is growing at the rate of 3%.

Currently, Europe has the highest %age of the population aged 60 or over (25%). An ageing population means more and sicker ICU patients. Tele-ICU gives real-time expert advice in critical situations resulting in better health outcomes for the patient.

Barriers to tele-ICU penetration

The higher cost of operations and installations have concerns hindering the penetration of tele-ICU in economies. Moreover, there is a deficiency of skilled staff which stimulates challenges to the next stage. The weaker penetration of communication channels and network issues affect the services, especially in developing economies. Lack of information and user awareness is deterring the adoption of tele-ICU across some parts.

There is also a need for robust technology regulations in order to secure the confidential information of patients and hospitals, along with financial and medical records. The security needs determined out of data confidentiality and transmission integrity needed. The lack of a clear set of standards for minimum requirements denotes a dearth of standardization in the tele-ICU industry.

Segment wise analysis

Hardware dominance over software.

The hardware segment is the dominating tele-ICU market due to the higher concentration of technical inventions. Physiological monitors in the hardware section are expected likely will continue to hold a major share in the forecast duration.

Hospitals have a major share in tele-ICU services owing to large networks.

Based on the end user types, tele-ICU services are applicable to hospitals in the largest amounts owing to the huge health database and wider connections with other hospitals. The network size is bigger rather than that of surgery centres and specialty care centers.

However, specialty care centers are expected to record faster network growth in the forecast duration due to the rising preferences of people for telemedicine services and increasing service differentiation in the field of healthcare.

Intensivists likely to be in demand in the forecast duration

Based on the service types, tele-ICUs can be divided into intensivist, co-managed, open, and others. The Co-managed tele-ICU segment is anticipated to have larger demand in the forecast duration owing to increasing penetration of players in the market and digital penetration.

There is a shortage of intensivists in the markets of tele-ICU, highlighting the need for certified intensivists in the forecast duration. This has been found that hospitals having a dedicated intensivist has contributed to a decline in the length of ICU stays and Mortalities.

Regional Insights

Canada dominated North America’s Tele-ICU service market

Countries like Canada are dominating demand for tele-ICU services owing to the alarming growth in the delivery of acute intensive care facilities. The number of hospitals in the region is reduced while there is an increase in intensive care units in the country that stimulate the growth of tele-ICU further in the forecast duration.

The African countries have the least stake in the tele-ICU penetration owing to poor economic conditions and lack of connectivity in regions. There is a lower rate of infrastructure adoption, which deters the growth of this sector in African countries.

India and China to reign in Tele-ICU services in Asia Pacific region

These countries, because of the high rate of population, intend to increase their lacking infrastructure. Meanwhile, due to the rising health needs of the population tele-ICU sector is likely to gain importance in the region. Furthermore, the government is supporting the tele-ICU and telemedicine sector in order to reduce stress on the existing health structures, including hospitals and special care units.

Recent Developments

The tele-ICU service market is expected to continue expansion in services owing to rising competitors in this field. There is large visible centralization in selective countries due to higher digital literacy and internet penetration. Developed economies are preferred by companies to start operations as these regions have higher connectivity and may get higher returns on investment. The key market players make mergers and collaborations as strategic moves that act in favour of business expansion.

• Market leaders in 2021 like Biocartis Corporation and InTouch Technologies Incorporation are incorporating joint ventures, partnership agreements, research & developments, collaborations, mergers & acquisitions, and new product launches as their strategies to maintain their respective positions in this market.
• Advanced ICU Care, a leading high-acuity telemedicine service provider announced its strategic telemedicine partnership with UAB Medicine, a recognized player in patient care in October 2020 to deliver innovative tele-ICU care in a high-volume regional network. They established a new tele-ICU operation center in Birmingham and envision serving up to 750 ICU beds in Alabama and surrounding states. Advanced ICU Care’s clinical and operational expertise and proprietary HUB workflow management software is aligned with UAB’s vision for tele-ICU programs. They are uniquely addressing the challenges associated with the customized delivery of acute patient care high volume across multiple care venues. The partnership is strengthening the global presence of both corporations globally.

The global Tele-ICU services market is segmented on the basis of component type, service type, End Users, and geography:

• By component Type :

  • Hardware
  • Software

• By Service type :

  • Intensivist
  • Co-Managed
  • Open
  • Open with Consultants
  • Others

• By End User type :

  • Hospitals
  • Ambulatory surgery centers
  • Specialty Care centers

• By Region :

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