As per an article in the Permanente Journal – a journal of medical science, social science in medicine, and medical humanities, the cost of treating critically ill patients crosses US$67 bn per year in the U.S. alone. The mortality rate is around 10% and even reaches up to 28% in ICU settings. In order to limit ICU deaths, healthcare professionals and hospital managers are actively exploring tele-intensive care services. This keen interest by healthcare professionals in tele-intensive care services is owing to the number of benefits these services can offer to providers and receivers of critical care. Tele-intensive care units have helped patients in keeping medication errors in check and have decreased the length of stay (LOS) in ICUs. This is driving the global tele-intensive care services market.
For the purpose of giving a clearer picture to the readers, the growth and decline of each of the segments have been given in the report along with the underlying reason behind the state of the segment. The leading segment and sub-segment and also the fastest growing segment are given.
Overview of the Tele-intensive Care Services Market
The demand for tele-intensive care services is driven by the rapid adoption of telemedicine among people across the globe. The rising number of patients requiring intensive care is burdening hospitals and as such, the adoption of tele-intensive care services is an ideal solution. Moreover, there is an increased interest and confidence among healthcare professionals in remote patient monitoring. This is fueling the growth of the market globally. Additionally, the cost and time savings associated with the ability to make quick decisions by the adoption of these services will further boost their demand.
The centralization of the massive amount of patient data will aid the interest of healthcare professionals in tele-intensive care services. The decreased hospital stay and the reduced risk of hospital acquired infections (HAIs) are some of the other factors encouraging the adoption of tele-intensive care services. The adoption of tele-intensive care services helps medical practitioners to monitor any important signs in patients and also receive alerts in case of deviations in the set health parameters of a patient. Moreover, the implementation of tele-intensive care services prevents hospital-setting related issues from occurring.
According to TMR, tele-intensive care services will be centered on IoT and various smart medical devices in the future. An increasing number of hospitals are realizing that the adoption of these services can be very profitable after the initial cost of investment has been recovered. This is further expected to encourage other hospitals to adopt these services, thus driving the global tele-intensive care services market.
The global tele-intensive care services market is segmented on the basis of type, component, and geography. By product, the market is segmented into hardware and software. Hardware components are further categorized into therapeutic devices, communication lines, computer systems, physiological monitors, display panels, and video feeds. By type, the market is segmented into intensivist, open, co-managed, open with consultants. By geography, the market can be segmented into Europe, North America, Asia Pacific, and the Rest of the World.
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The report studies key players operating in the global tele-intensive care services market. These include: Advanced ICU care, inTouch health, UPMC Italy, INTELEICU, iMDsoft, INOVA, and Philips. The business and financial overview, recent products and developments, and the strategies implemented by each of the companies are given in the report.
The study is a source of reliable data on:
Market segments and sub-segments
Market trends and dynamics
Supply and demand
Value chain and stakeholder analysis
Highlights of the report:
A complete backdrop analysis, which includes an assessment of the parent market
Important changes in market dynamics
Market segmentation up to the second or third level
Historical, current, and projected size of the market from the standpoint of both value and volume
Reporting and evaluation of recent industry developments
Market shares and strategies of key players
Emerging niche segments and regional markets
An objective assessment of the trajectory of the market
Recommendations to companies for strengthening their foothold in the market
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