The Global Virtual ICU Market is estimated to reach over USD 11.58 billion by 2030, exhibiting a CAGR of 14.65% during the forecast period.
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An application of telemedicine that deals with a patient’s critical care at a hospital is referred to as a virtual intensive care ICU (tele-ICU). Through audio-visual communication and monitoring technology, virtual ICU assists in establishing a connection between the critical care team at a remote location and the bedside ICU staff. This system consists of hardware that gathers patient data and then transmits it via a command centre from the remote ICU to the physician at a different location. The virtual intensive care unit market is expected to be driven by an expansion in the number of intensive care units around the world and continuous technological advances in remote patient monitoring technology. During the projected period, growth in the virtual ICU market is anticipated to be aided by an increase in the instances of chronic diseases and the need to shorten hospital stays. The rising demand for remote monitoring and the ageing population has significantly influenced the market. Continued real-time monitoring and remote access to patient data are these services’ main attributes, facilitating quick clinical judgement and encouraging efficient healthcare delivery. The shorter duration of stay is the primary selling feature of virtual critical care units.
List of Prominent Players in the Virtual ICU Market:
Advanced ICU Care
Apollo Tele Health Services
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With the COVID-19 pandemic’s rapid spread starting in 2020, the virtual ICU is rapidly gaining popularity. The telemedicine sector, which includes the virtual ICU, has seen a sharp uptick in consumer uptake since the COVID-19 outbreak. With the increasing usage of tele-ICUs or virtual ICUs around the world, the market for these services is anticipated to expand quickly during the forecast period. The virtual ICU handles the critical care of a patient in a medical facility. The primary benefit of the virtual intensive care unit is that it establishes a connection between the hospital’s intensive care unit staff and the critical care team, which is located in a different place, via video communication and analytics or monitoring systems. The hardware of the virtual ICU gathers patient data and transmits it to the doctor or intensivist who is located elsewhere. One of the main factors influencing the worldwide virtual ICU market is the dearth of sufficient intensivists.
The development of the virtual ICU business is being constrained by a lack of competent healthcare and IT infrastructure, particularly in undeveloped economies. Furthermore, a lack of sufficient funding could further impede the market’s growth in the years to come. The expansion of the virtual intensive care unit (ICU) industry is anticipated to be hindered by the high cost of ICU maintenance and yearly charges. The virtual intensive care unit (ICU) market is anticipated to face challenges during the forecast period because of increased patient treatment costs.
In the forecast period, North America will generate the highest revenue of the total revenue generated for the global deployment of these services. With the presence of technologically advanced healthcare infrastructure and customer acceptance of new service offerings, the region is anticipated to continue to lead in the future years. The widespread adoption of artificial intelligence, particularly in patient monitoring, is expected to support regional penetration. The region’s market is growing due to the availability of high-speed internet connectivity, IT infrastructure, and reliable communication networks. Additionally, the U.S. is home to a number of well-known telehealth service providers, and the use of remote monitoring systems is expanding. Positive government actions to improve the healthcare system is anticipated to support regional market expansion. Improving medical device electronics, particularly remote human-machine interface devices, is projected to support regional growth.
- In January 2022. ICU Medical Inc. completed the purchase of Smiths Medical from Smiths Group plc. Syringe and ambulatory infusion devices, vascular access, and essential care items are all part of the Smiths Medical business. The combined operations, when coupled with ICU Medical’s current businesses, produce a market-leading infusion therapy company with pro forma combined revenues of about USD 2.5 billion.
- In January 2021, Royal Philips, a global pioneer in health technology, announced the acquisition of Capsule Technologies, Inc. The purchase of Capsule fits in well with Philips’ strategy to use integrated solutions to improve the way care is delivered across the health continuum.
Segmentation of Virtual ICU Market-
- Computer System
- Communication Lines
- Physiological Monitors
- Therapeutic Devices
- Video Feeds
- Display Panels
- Traditional Medical ICU (TMICU)
- Cardiac Care Unit (CCU)
- Neonatal ICU (NICU)
- Pediatric ICU (PICU)
- Trauma ICU (TICU)
- Psychiatric ICU (PICU)
- High-Dependency Unit (HDU)
- The US
- The UK
- Rest of Europe
- South Korea
- South East Asia
- Rest of Asia Pacific
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of Middle East and Africa
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