Tele-ICU Services Market – Sales, Ex-factory Price, Revenue, Gross Margin Analysis

The global demand for tele-ICU services experienced an incredible rise in the ongoing pandemic due to rising concern on health and well-being. The market players in 2021 are making huge investments in research and developments to ensure better and mobile services to the patients.

Growing attraction towards new and better ways oftreating patients is creating significant demand for tele-ICU services in 2021. Additional clinical support and surveillance provided by the tele-ICU services along with timely interventions is creating significant fascination among the users.

Improved safety services provided by tele-ICU services are attracting the users towards it as better services are something every patient demands. Tele-intensive care unit is providing all the necessary safety services to the patients globally which is pushing its market growth further.

In 2021, threat of Covid-19 and other chronic diseases are putting a pressure on providing highly efficient services to patients with fastest recovery. Further, increasing demand for advanced medical facilities continues to add immense progress.

Market leaders in 2021 like Biocartis Corporation and InTouch Technologies Incorporation are incorporating joint ventures, partnership agreements, research & developments, collaborations, mergers & acquisitions and new product launches as their strategies to maintain their respective positions in this market.

For instance, Advanced ICU Care, a leading high-acuity telemedicine service provider announced its strategic telemedicine partnership with UAB Medicine, a recognized player in patient care on 12^th October, 2020 to deliver innovative tele-ICU care in high volume regional network. They established a new tele-ICU operation center in Birmingham and envisions serving up to 750 ICU beds in Alabama and surrounding states. Advanced ICU Care’s clinical and operational expertise and proprietory HUB workflow management software are alligned with UAB’s vision for tele-ICU programs. They are uniquely addressing the challenges associated with customized delivery of acute patient careat high volume across multiple care venues. The partnership is strengthening the global presence of both the corporations globally.

In addition to that, Philips and Intercept TeleMed Corporation collaborated and introduced new breed of tele-ICU services for small hospitals on 21^st February, 2020. They have launched tele-ICU services for hospitals that want the benefits of intensivist-led care, 24/7 staffing and advanced analytics. It is particularly geared towards hospitals with fewer ICU beds than the threshold needed to build an independent remote clinical command center, providing hospitals with consultative services such as tele-stroke, tele-psychiatry or staff augmentation. The new tele-ICU services synthesize patient’s data and uses predictive analytics and data visualization to deliver need-to-know information to caregivers for increased clinical decision support. The insight helps in detecting patient’s trends  and deterioration early so that they can intervene in a timely manner. This system keeps patient’s information in a centralized database to provide care teams access to up-to-date information to ensure effective and efficient collaboration.

Tele-ICU is a network of computerized audio-visual communication that link critical care doctors and nurses (intensivists) to intensive care units (ICUs) in different hospitals regardless of distance. Tele-ICU intensivists give instantaneous services to multiple care centers located in any part the world. Tele-ICUs use distant command center which connects a critical care team (intensivists and critical care nurses) with patients with real-time audio, visual, and electronic means in distant ICUs. Tele-ICU services is not a replacement to the bedside team. Tele-ICU services offers support to increasingly scarce clinical resources. Along with aging population increased prevalence of critical illnesses and advances in higher-risk medical therapies demand for intensivists is increasing. Tele-ICU services is the best solution in sight looking at the shortage of intensivists, more aging population and increased prevalence of critical illness requiring ICU attention.

Tele-ICU services market is driven by aging population, increasing prevalence of critical disease like neurological disorders and cancer. Intensive care units are important component of healthcare, they treat around 6 mn patients in United States each year costing $80 bn. Total 5,40,000 deaths occur per year out of total admission to Intensive care units. Tele-ICU services market capabilities, hospitals can make maximum use of their existing critical care resources. In 2017, an estimated 962 mn people aged 60 or over in the world, comprising 13% of the global population. The aging population of age 60 or older is growing at the rate of 3%. Currently, Europe has the highest %age of population aged 60 or over (25%). An aging population means more and sicker ICU patients. Tele-ICU gives real time expert advice in critical situations resulting in better health outcome for the patient. Barriers to broader adoption of Tele-ICU are installation and operating cost, organizational resistance like bedside physicians and nurses feel that nurses and intensivists at Tele-ICU command center are keeping watch on them and trying to take over. In developing countries last mile internet connectivity or bandwidth required for such intensive care model is an issue. Sometimes adaptability is also a factor like staff don’t know how to use it which acts as barrier for tele-ICU services market growth.

 

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