Tele-Intensive Care Unit (ICU) Market USD 6.87 billion in 2030

The Global Tele-Intensive Care Unit (ICU) Market is projected to grow at a CAGR of 14.8% from USD 2.26 billion in 2019 to USD 6.87 billion in 2030. An aging demographics with a resulting increase in overall critical care needs coupled with the limited availability of the highly skilled critical or intensive care providers, physicians, and ICU nurses have resulted in a high requirement of alternative availability of the physical hospital-based intensive care units.

Also the extensive rise in the ICU bed or hospital ICU room charges and inpatient expanses have been an incisive constraint for many patients around the world. Implementation of Tele-ICU units or telemedicine coupled with the wide proliferation of the internet availability and innovations in the healthcare consumer electronics & healthcare software & analytics coupled with growing availability of the telehealth non-clinical services, an alternative business model of the inpatient hospital based ICU units have been made possible.

Increasing the availability of critical or intensive care expertise both geographically and temporally through telemedicine or tele-ICU services therefore have been an obvious and logical strategic approach which expeditiously solves the overburdening of the hospital based in-patient ICU units. The business model of the telemedicine solely focuses on reducing the indirect costs such as resource utilization & reduction of the mortality rate associated with the hospital based ICU units. Direct costs like length of ICU and hospital stays or physical engagement of the highly demanded physicians are also diminished through this business model and the return on investment for all the costs associated in the tele-ICU system is mediated through these innovative business model. Many study based on the economic evaluation suggests the overall that the tele-intensive care unit have been an extremely cost-effective solution in most scenarios.

Telemedicine benefits involve ICU nurses, nurse practitioners, physicians, and other healthcare professionals to provide patient monitoring and intervention from remote locations. Presence of TeleICU has demonstrated positive outcomes such as increased adherence to evidence-based care and improved perception of support at the bedside. In spite of the successes, acceptance of TeleICU varies. Some barriers to acceptance include perceptions of intrusiveness and invasion of privacy. Online availability of the telemedicine booking system has increased the possibility of urgent telemedicine appointment.

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High-growing companies like MDLIVE, Teladoc Health, Inc. (TDOC), Doxy.me, Johns Hopkins Telemedicine Eagle Telemedicine continuously can palliate the effects of the physician shortage and the equally challenging geographic misdistribution of doctors. The telemedicine team use high-quality video and audio technology to perform assessments and communicate with patients, their families, and loved ones, as well as caregivers. Tele-ICU team members place orders, review laboratory test results and imaging studies, and write progress notes.

Type Outlook:

The decentralized models sub-segment is the fastest-growing segment with a CAGR of 16.2% during the forecast period. The centralized models sub-segment is however expected to reach USD 4.02 billion by the year 2030, showing significant growth during the forecast period. Advanced data technologies facilitate a network of hospitals to centralize its application servers and patient record servers in one location. Implementation of Tele-ICUs facilitates the collection and comparison of a vast amount of data from patients.

Component Outlook:

In 2019, software end-user segment was valued at USD 564.19 million and is expected to grow at a high rate of 20.2%. An Electronic Intensive Care Unit known as eICU is a form of telemedicine that uses state-of-the-art technology to provide an additional service. These Tele-ICU systems are evolving, and they are the safest for enhancement of the process. They enable data synthesis and allow the therapeutic providers to stratify information with respect to how important it is. Advanced data technologies facilitate a network of hospitals to centralize its application servers and patient record servers in one location. Implementation of Tele-ICUs facilitates the collection and comparison of a vast amount of data from patients.

Regional Outlook:

North America accounted for the largest share in 2019 and is anticipated to be one of the key revenue-generating regions for the market. A large share of the region’s value comes from the U.S. as increasingly, US hospitals are integrating the tele-ICU model, enabling a single offsite physician to cover many centers, thereby increasing efficiency and cutting staffing costs. More importantly, several studies have shown that tele-ICU programs consistently improved clinical outcomes, including decreasing mortality, shortening length of stays in the ICU and hospital, and increasing staff adherence to changes in best practices.

Market-O-Nomics

Advanced data technologies facilitate a network of hospitals to centralize its application servers and patient record servers in one location. Implementation of Tele-ICUs facilitates the collection and comparison of a vast amount of data from patients.
The North American Tele-ICU market is expected to witness growth at a CAGR of 15.2% during the forecast period and holds a key share in the Tele- Intensive Care Unit market. The growth can be attributed to the presence of robust IT infrastructure and exceptional internet connectivity.
In the U.S., approximately 11% of nonfederal adult ICU beds are supported by some form of tele-ICU coverage. Tele-ICU coverage models are heterogeneous. The vast majority of published effectiveness studies are before-after studies, which are confounded by temporal patient trends.
Asia-Pacific regional segment is expected to remain highest growing segment during 2019-2030, at a CAGR of 18.0 %; owing to huge target population and advancement of the healthcare system by the government.

Companies considered and profiled in this market study

Key players in the market include Apollo Tele Health Services, Advanced ICU Care, Koninklijke Philips N.V., UPMC, Banner Health, TeleICUCare, Eagle Telemedicine, SOC Telemed, InTouch Technologies, Inc. and INTeleICU among other companies, have been profiled in the report.

The players operating in the market have undertaken a number of strategies related to the market in the period 2019-2020.

In March 2020, Two Israeli hospitals namely Sheba Medical Center and Ichilov Hospital launch AI-based tele-ICU to support the COVID-19 patients. The platform CLEW-ICU uses artificial intelligence (AI) based predictive analytics to exponentially expand the capacity of the ICU and required resources in it.
In February 2020, eCareManager Acute Telehealth Suite, launched tele-ICU services with the help of Philips and Intercept TeleMed’s new breed of Tele-ICU for hospitals that seek for the benefits of intensivist-led care, critical acre or ICU nurse for 24/7, and advanced analytics.
In January 2020, Advanced ICU Care, the a leading provider of high-acuity telemedicine, announced their tele-ICU services partnering up with HSHS St. Mary's Hospital, a full-service health care facility in central Illinois. The new care partnership is one of the most Advanced ICU Care collaboration in the HSHS system, complementing a strong on-going relationship with the HSHS St. John's Hospital.

Start-up Traction

The industry offers numerous growth opportunities, and thereby, a number of emerging start-ups providing innovative products, formulations, insights, or robotic techniques in surgeries have been entering the market. Cloudphysicans, CLEW-ICU are some of these start-ups that have been profiled in the report, and their promising innovations have proven to be the potential drivers of this market.

Deals Landscape

Mergers and Acquisitions are an integral part of the Tele-Intensive Care Unit industry. Along with the companies operating in the market, other key market players have also been entering the industry.

In January 2020, Publicly-traded telehealth company Teladoc showed its interest to acquire a competitor named InTouch Health, a telehealth company based in Santa Barbara and serves more than 450 hospitals. The USD 600 million deal is expected to boost Teladoc’s top line footprint & extend its presence across hospitals and all the other healthcare systems.

Expert Insights:

Reports and Data forecast promising developments for increased adoption of Tele-Intensive Care Unit technology. According to technological experts, the technology of telemedicine is already available today. However, the usage is limited, only to specific top players. Already there are augmented and virtual reality techniques enhancing surgical procedures and their outcomes. With telemedicine, remote tele-surgeries can become a more comprehensive reality with surgeons operating from remote locations using remote robotic arms. Even with adequate staff management, only about 50% of patients receive the required elements of evidence-based best practice bundles that are recommended in nationally recognized specialty guidelines. Tele-ICU has the potential to soothe such problems by utilizing the skills and experience of remote intensivists efficiently and effectively. A barrier telemedicine is the clinician’s acceptance of the technology. The lack of integration is a problem at some hospitals, especially those that do not have electronic records. Telemedicine enables nurses, nurse practitioners, physicians, and other healthcare professionals to provide patient monitoring and intervention from remote locations. Presence of Tele-ICU has demonstrated positive outcomes such as increased adherence to evidence-based care and improved perception of support at the bedside. In spite of the successes, acceptance of Tele-ICU varies. Some barriers to acceptance include perceptions of intrusiveness and invasion of privacy.

Segments Covered in the report

This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the market trends in each of the sub-segments from 2019 to 2030. The scope of the report can be defined as:

For the purpose of this study, Reports and Data have segmented the Tele-Intensive Care Unit market on the basis of type, component, type of ICU, and region:

Type Outlook (Revenue, USD Billion; 2019-2030)

Surgical Robots
Rehabilitation Robots
Emergency Response & Utility Robots
Others

Component Outlook (Revenue, USD Billion; 2019-2030)

Hardware
Software

Type of ICU Outlook (Revenue, USD Billion; 2019-2030)

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

Regional Outlook (Revenue: USD Billion; Volume: Million Tons; 2019-2030)

North America

U.S
Canada

Europe

Germany
U.K
France
BENELUX
Rest of Europe

Asia Pacific

China
India
Japan
Rest of APAC

Saudi Arabia
UAE
Rest of MEA

Latin America

Brazil
Rest of LATAM

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