Tele-Intensive Care Global Market Report 2024

Tele-intensive care is a telemedicine technology designed for use in intensive care units (ICUs). It involves the remote connection of patients in distant ICUs through real-time audio, visual, and electronic communication channels. This technology facilitates the exchange of health information from one site to another via electronic communications, enabling the tracking of a patient's clinical health status with off-site clinical resources.

The tele-intensive care market encompasses the sales of tele-intensive care by various entities, including organizations, sole traders, and partnerships. The primary goal of tele-intensive care is to improve clinical outcomes in patients' health conditions remotely. This involves providing care to critically ill patients and effectively treating individuals in the ICU setting through the utilization of telemedicine technologies.

The tele-intensive care market research report is one of a series of new reports that provides tele-intensive care market statistics, including tele-intensive care industry global market size, regional shares, competitors with a tele-intensive care market share, detailed tele-intensive care market segments, market trends and opportunities, and any further data you may need to thrive in the tele-intensive care industry. This tele-intensive care market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The tele-intensive care market size has grown rapidly in recent years. It will grow from $5.49 billion in 2023 to $6.51 billion in 2024 at a compound annual growth rate (CAGR) of 18.5%. The growth observed during the historical period can be attributed to several factors, including the aging population, a shortage of intensive care specialists, challenges in rural healthcare access, efforts to reduce healthcare costs, and the implementation of real-time monitoring solutions.

The tele-intensive care market size is expected to see exponential growth in the next few years. It will grow to $13.9 billion in 2028 at a compound annual growth rate (CAGR) of 20.9%. The anticipated growth in the forecast period can be attributed to factors such as the impact of global health crises, the increasing focus on chronic disease management, the rise of remote patient monitoring, the evolution of telemedicine regulations, and ongoing healthcare infrastructure development. Major trends expected during this period include the integration of artificial intelligence (AI) and predictive analytics, the expansion of telehealth services, the use of virtual reality (VR) simulations, the implementation of tele-ICU for home healthcare, and the development of mobile tele-ICU apps.

The growth of the tele-intensive care market is being driven by the increasing prevalence of chronic diseases. Chronic diseases, a broad category encompassing ailments that can affect various body parts and potentially lead to fatal consequences, are prompting a demand for tele-intensive care. This mode of care involves continuous monitoring, long-distance assessment and management of medical devices (such as pacemakers and defibrillators), and monitoring of chronic patients. For instance, the Australian Government reported that in the 2020-21 period, nearly half of Australians (46.6%) across all age groups had one or more chronic conditions, with almost 1 in 5 (18.6%) dealing with two or more chronic conditions. Therefore, the rise in chronic diseases within the population is anticipated to fuel the growth of the tele-intensive care market.

The growth of the tele-intensive care market is also expected to be propelled by the increasing aging population. As the global population continues to age, with a higher proportion of older individuals, the demand for tele-intensive care services is likely to surge. According to the World Health Organization, by 2030, 1 in 6 people globally will be aged 60 or over, reaching a population of 1.4 billion. The world's population aged 80 and older is projected to triple between 2020 and 2050, reaching 426 million. Hence, the growing aging population is a key factor driving the expansion of the tele-intensive care market.

A notable trend in the tele-intensive care market is the focus on technological advancements. Major players in the market are dedicating efforts to developing innovative technologies for healthcare systems to enhance facilities for patients. For instance, Wipro GE Healthcare introduced a remote monitoring solution for Tele-ICU in August 2021, providing advanced consultation and care for critically ill patients in Intensive Care Units across various hospital locations.

Strategic investments are being made by major companies in the tele-intensive care market to strengthen their market position and expand their geographic presence. These investments are aimed at achieving long-term strategic advantages. For example, SAMRIDH Healthcare Blended Financing Facility made a significant investment in Critical Care Hope in March 2023 to expand its tech-enabled tele-ICU platform in multiple Indian states. This investment aims to enhance access to critical care services in tier-2 and tier-3 cities.

In January 2022, ICU Medical Inc acquired Smiths Medical from Smiths Group PLC, contributing to the overall growth of ICU Medical and leveraging investments for integration and infrastructure, particularly related to the Hospira Infusion Systems acquisition. Smiths Medical is a US-based company specializing in manufacturing medical devices used in therapeutic, diagnostic, and surgical procedures, with a focus on vital care, safety devices, and medication delivery.

Major companies operating in the tele-intensive care market include Apollo TeleHealth Services Pvt. Ltd., Banner Health System, Ceiba Tele ICU, Cerner Corporation, Eagle Telemedicine, iMDsoft Ltd., nova Health System, Mid-Atlantic Telehealth Resource Center, Koninklijke Philips N.V., SOC Telemed Inc., University of Pittsburgh Medical Center, Advanced Medical Reviews, Banner iCare, BioTelemetry Inc., Cambio Healthcare Systems AB, CirrusMD Inc., Harris Healthcare Group, Healthcare Business Intelligence Solutions, Hicuity Health Inc., Honeywell Life Care Solutions, ICU Medical Inc., Inovaare Corporation, INTeLeICU, Intensive Care On-line Network, InTouch Health, LifeWatch AG, Reliq Health Technologies, Sotera Wireless Inc., Spacelabs Healthcare, Teladoc Health Inc., Vivify Health Inc., Vocera Communications Inc.

Asia-Pacific was the largest region in the tele-intensive care market in 2023. Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the global tele-intensive care market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the tele-intensive care market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The tele-intensive care market includes revenues earned by entities by providing centralized and decentralized intensive care. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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