Tele-intensive Care Unit Market Size
| Study Period | 2021 - 2029 |
| Market Size (2024) | USD 4.18 Billion |
| Market Size (2029) | USD 8.42 Billion |
| CAGR (2024 - 2029) | 15.03 % |
| Fastest Growing Market | North America |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Tele-intensive Care Unit Market Analysis
The Tele Intensive Care Unit Market size is estimated at USD 4.18 billion in 2024, and is expected to reach USD 8.42 billion by 2029, at a CAGR of 15.03% during the forecast period (2024-2029).
Factors such as an increase in the volume of surgical procedures worldwide and increasing demand for remote patient monitoring are anticipated to drive market growth.
The rising prevalence of chronic diseases, coupled with the growing geriatric population, raises the need to find new ways of increasing access to care, improving patient outcomes, and reducing the cost of medical care. For instance, according to the Centers for Disease Control and Prevention (CDC), data updated in July 2022, in the United States, six in 10 adults suffering from a chronic disease, and four in 10 adults had two or more chronic diseases like heart disease, cancer, stroke, chronic obstructive pulmonary disease, and diabetes.
The growing aging population is expected to increase demand for patient monitoring at remote locations as the aging population suffers from chronic diseases that require intensive care units dedicated to the management of critically ill elderly, which is likely to boost market growth. For instance, according to the America Health Ranking data published in 2023, 58 million adults aged 65 and older lived in the United States in 2022, accounting for 17.3% of the nation's population. Thus, the expected increase in the number of elderly suffering from chronic diseases raises hospital admission rates. This is anticipated to fuel the demand for tele-ICU, propelling market growth.
Furthermore, the advantages offered by tele-ICU such as the low-cost method of connecting intensivists with hospitals, earlier interventions for critically ill patients, allowing hospitals to provide these highly trained specialists to their most critically ill patients, increased awareness of high-acuity patients for proactive monitoring, and improved care quality and adherence to key metrics increased their adoption across hospitals.
Moreover, the increasing launch of tele-ICU hubs in various countries is also expected to propel market growth. For instance, in May 2022, Manipur's Chief Minister inaugurated the first-ever Tele-ICU Hub, including a 10-bed ICU ward at the Jawaharlal Nehru Institute of Medical Sciences (JNIMS), Imphal. With the tele-ICU facilities, patients being treated at intensive care units (ICU) in different district hospitals and other tele-ICU-supported hospitals will be able to access observation by specialist doctors through the hub set up at JNIMS.
Therefore, owing to the factors above, such as the high prevalence of chronic diseases, the growing aging population, and the advantages of tele-ICU, the market studied is anticipated to grow over the forecast period. However, the high cost of treatment and setup is expected to hinder the growth of the tele-intensive care unit market over the forecast period.
Tele-intensive Care Unit Market Trends
Software and Services Segment is Expected to Witness Growth Over the Forecast Period
The software and services segment is anticipated to witness significant growth in the tele-intensive care unit (ICU) market over the forecast period. This is due to factors such as the increasing demand and adoption of tele-ICU across hospitals and rising companies and government initiatives.
The increasing company and government initiatives to develop new technologies and services are expected to fuel the growth of the segment. For instance, in November 2022, the Karnataka government's Department of Health and Family Welfare, in collaboration with Bengaluru-based non-profit eGovernments Foundation and Google Cloud, launched cloud-based remote intensive care unit (ICU) services at 41 state-run hospitals.
Similarly, in January 2024, the Karnataka government launched tele-ICUs to enhance the monitoring of patients suffering from SARS-CoV. The use of CARE software digitalizes patients’ records for efficient management. With the tele-ICU system in place, the state aims to bridge the gap in healthcare services, enhance monitoring, and provide timely interventions, ultimately contributing to improved outcomes for COVID-19 patients, especially those with underlying health conditions.
Therefore, owing to growing government initiatives, the segment is expected to grow significantly over the forecast period.
North America is Expected to Hold the Significant Market Share Over the Forecast Period
North America is anticipated to hold a significant market share over the forecast period owing to factors such as an increase in the prevalence of chronic diseases, the growing geriatric population, and various government initiatives. In addition, the well-developed IT infrastructure, robust communication networks, and the growing demand for remote monitoring systems are also expected to boost market growth.
The rising prevalence of chronic diseases such as cancer, cardiovascular diseases, and diabetes is a key factor driving market growth. For instance, according to the 2024 statistics published by the American Cancer Society, about 2 million new cancer cases are expected to be diagnosed in the United States in 2024, compared to 1.9 million cancer cases in 2023. Additionally, according to the 2022 statistics published by the Canadian Cancer Society, about 233,900 people were diagnosed with cancer in Canada in 2022. The high number of people suffering from cancer raises the need for long hospital stays for their treatment, fueling the demand for tele-ICUs, which is expected to boost market growth.
Furthermore, the rising number of new product launches has increased the availability of advanced tele-ICU devices, software, and solutions in the market. For instance, in March 2022, Hicuity Health, a US-based provider of high-acuity telemedicine services, expanded its telemedicine services relationship with Baptist Health, a 9-hospital system. In this expansion, tele-ICU services were extended to Baptist Health Deaconess, Madisonville, a facility that provides care to residents throughout western Kentucky. Introducing Hicuity Health tele-ICU at the Madisonville facility provided critical care support to its Baptist Health team members and its patients.
Moreover, the increasing focus of companies on adopting key strategies such as collaborations and partnerships is also contributing to market growth in the region. For instance, in January 2022, Avel eCARE, a telehealth network and virtual hospital, helped develop the federally funded initiative, the National Emergency Tele-Critical Care Network. It expanded its work with the Department of Health and Human Services and the Department of Defense to provide critical care expertise to hospitals and municipalities struggling with COVID-19 surges in the South.
Therefore, owing to factors such as the high burden of cancer, new product launches, and increasing company activities, the market studied is anticipated to grow over the forecast period.
Tele Intensive Care Unit Industry Overview
The tele-intensive care unit market is highly competitive owing to the presence of several players. In terms of market share, there is moderate consolidation. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by introducing new products at lower prices. Some of the key companies in the market are INTeLeICU, Koninklijke Philips NV, InTouch Technologies Inc., Inova, and Advanced ICU Care.
Tele Intensive Care Unit Market Leaders
-
Inova
-
INTeLeICU
-
InTouch Technologies Inc.
-
Koninklijke Philips NV
-
Advanced ICU Care
*Disclaimer: Major Players sorted in no particular order
Tele Intensive Care Unit Market News
- February 2023: CLEW, a provider of real-time AI analytics platforms for healthcare providers, launched the CLEW ICU Conversion and Accelerator program. The program comprises packaged integrations to EMR, monitoring, AV equipment, CLEW's FDA-cleared AI predictive models, and the CLEW ICU workflow platform. Additionally, within 12 weeks, the program's consulting and implementation resources enable US health systems to successfully transition away from the Philips eICU software.
- January 2023: Google Cloud, eGovernment Foundation, and the Directorate of Health and Family Welfare Government of Nagaland launched the TeleICU hub at Naga Hospital Authority.
Tele-Intensive Care Unit (ICU) Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumption and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increase in Volume of Surgical Procedures Worldwide
4.2.2 Increasing Demand for Remote Patient Monitoring
4.3 Market Restraints
4.3.1 High Cost of Treatment and Expensive Setup
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD)
5.1 By Component
5.1.1 Hardware
5.1.1.1 Devices
5.1.1.2 Communication Lines
5.1.1.3 Computer Systems
5.1.1.4 Physiological Monitors
5.1.1.5 Display Panels
5.1.1.6 Video Feed
5.1.1.7 Other Hardware
5.1.2 Software and Services
5.2 By Type of Management
5.2.1 Intensivist
5.2.2 Open
5.2.3 Co-managed
5.2.4 Open with Consultant
5.2.5 Other Types of Management
5.3 By Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle East and Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle East and Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Hicuity Health
6.1.2 iMDsoft
6.1.3 Inova
6.1.4 INTeleICU
6.1.5 Teladoc Health Inc.
6.1.6 Koninklijke Philips NV
6.1.7 SOC Telemed
6.1.8 Apollo Hospitals (Apollo Telehealth Services)
6.1.9 Ceiba Healthcare
6.1.10 CLEW
6.1.11 Intercept Telemed
6.1.12 Cloudphysician Healthcare Pvt. Ltd
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Tele-intensive Care Unit Industry Segmentation
As per the scope of the report, tele-intensive care unit (ICU) is a diagnosis and treatment method where patients can get remote intensive care services through videoconferencing and internet technologies. Most tele-ICU programs feature command centers staffed with intensivists and critical care nurses who assist patients online via audio connections or videoconferencing. It enables medical personnel to access patient data instantly and address problems as they develop. Tele-ICU with the bedside team can provide support care for the patient without distractions and deliver timely interventions.
The tele-intensive care unit market is segmented by component (hardware [devices, communication lines, computer systems, physiological monitors, display panels, video feed, and other hardware], software, and services), type of management (intensivist, open, co-managed, open with consultants, and other types of management), and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (USD) for the above segments.
| By Component | |||||||||
| |||||||||
| Software and Services |
| By Type of Management | |
| Intensivist | |
| Open | |
| Co-managed | |
| Open with Consultant | |
| Other Types of Management |
| By Geography | ||||||||
| ||||||||
| ||||||||
| ||||||||
| ||||||||
|
Tele-Intensive Care Unit (ICU) Market Research FAQs
How big is the Tele Intensive Care Unit Market?
The Tele Intensive Care Unit Market size is expected to reach USD 4.18 billion in 2024 and grow at a CAGR of 15.03% to reach USD 8.42 billion by 2029.
What is the current Tele Intensive Care Unit Market size?
In 2024, the Tele Intensive Care Unit Market size is expected to reach USD 4.18 billion.
Who are the key players in Tele Intensive Care Unit Market?
Inova, INTeLeICU, InTouch Technologies Inc., Koninklijke Philips NV and Advanced ICU Care are the major companies operating in the Tele Intensive Care Unit Market.
Which is the fastest growing region in Tele Intensive Care Unit Market?
North America is estimated to grow at the highest CAGR over the forecast period (2023-2029).
Which region has the biggest share in Tele Intensive Care Unit Market?
In 2023, the North America accounts for the largest market share in Tele Intensive Care Unit Market.
What years does this Tele Intensive Care Unit Market cover, and what was the market size in 2023?
In 2023, the Tele Intensive Care Unit Market size was estimated at USD 3.55 billion. The report covers the Tele Intensive Care Unit Market historical market size for years: 2021, 2022 and 2023. The report also forecasts the Tele Intensive Care Unit Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Tele ICU Industry Report
The global Tele Intensive Care Unit market is poised for significant growth, driven by advancements in technology and the increasing need for efficient healthcare solutions. The market analysis indicates a robust industry outlook, with various components such as hardware, software, and services contributing to the overall market value. The industry reports highlight the importance of different types of management, including intensivist, open, co-managed, and others, in shaping the market trends.
The market segmentation by geography shows that North America, Europe, Asia-Pacific, the Middle East and Africa, and South America are key regions driving the market growth. The industry research emphasizes the role of market leaders in setting industry standards and fostering innovation. The market forecast suggests a positive growth rate, supported by comprehensive industry statistics and market data.
The market review and market overview provide insights into the current state of the industry, while the market predictions and market outlook offer a glimpse into future opportunities. The industry size and industry sales are expected to expand, reflecting the increasing adoption of Tele Intensive Care Units across various regions.
The report example and report pdf serve as valuable resources for stakeholders seeking detailed industry information and market insights. Research companies play a crucial role in compiling and analyzing market data, ensuring that the industry remains well-informed and prepared for future challenges.
In summary, the Tele Intensive Care Unit market is set to experience substantial growth, driven by technological advancements and the increasing demand for efficient healthcare solutions. The market trends, industry analysis, and market segmentation highlight the key factors influencing the market, while the market forecast and industry outlook provide a clear picture of future growth prospects.
