The Global Tele-Intensive Care Unit (ICU) Market size is estimated to reach USD 6.87 billion by 2027 from USD 2.26 billion in 2019, delivering a CAGR of 14.8%. Growth in the aging population across the globe, limited availability of the highly skilled intensive or critical care providers, physicians, and nurses, along with growing demand for an alternative to the physical hospital-based ICUs, are the key factors driving tele-intensive care unit market growth.
A tele-intensive care unit enables offsite clinicians to interact with bedside staff to consult on patient care. Telemedicine benefits involve nurse practitioners, ICU nurses, physicians, and other healthcare professionals to intervene from remote locations to offer patient monitoring.
The outbreak of COVID-19 has created a massive disruption in the flow of the healthcare industry. Most of the hospitals are converting into special units for managing a huge number of patients affected by the novel coronavirus. The number of positive cases is still on the rise, creating a massive shortage of ICU-beds. However, tele-ICUs have been proven highly effective and beneficial in the current crisis, where more and more healthcare providers have started adopting the technology to provide patient care.
Increasing incidence of chronic and infectious diseases, implementation of Tele-ICU units, the proliferation of the internet availability along with the innovations in the healthcare software & analytics and consumer electronics are the key factors that will positively impact tele-ICU market growth over the forecast period.
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Market Dynamics:
Increasing development of on-demand, digitally enabled, and seamlessly connected clinician-patient interactions to manage patient base is expected to drive pharma and healthcare market in the coming years. After the COVID-19 outbreak there has been a number of foundational shifts in the healthcare system. Some of the examples include increasing consumer involvement in health care decision-making, the rapid adoption of virtual health & other digital innovations, increasing focus on utilization of interoperable data & data analytics, and increased public-private collaborations in therapeutics and vaccine development. The increased public-private collaborations for vaccine development has arisen due to high pressure of regional governments. Health care providers, and other stakeholders have invested heavily to quickly pivot, adapt, and innovate therapeutics.
Surging demands and transition to patient-centric care delivery across geographies will change pharma and healthcare market trends through 2027.
Competitive Outlook:
The report focuses on current and emerging trends in the healthcare industry such as incorporation of IoT and Machine Learning to enhance efficiency of medical products. Top companies in the market are focusing on R&D activities to expand their product offerings and cater to unmet medical needs.
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