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Tele-ICU Market Demand On Real-Time Monitoring In Healthcare Industry

|Includes: Meridian Resource Corp. (TMR)

Tele-intensive Care Unit (ICU) Market: Overview

In the United States alone, the costs of treating critically ill patients notch the US$67-bn mark annually, says an article in The Permanente Journal. Despite these astounding costs, mortality rates continue to hover above 10%, reaching as high as 28% in some ICU settings. In a bid to restrain, if not entirely eliminate, ICU deaths, hospital managers and healthcare professionals are keenly exploring tele-intensive care units. Tele-intensive care units have whetted the interest of healthcare professionals largely because of the benefits they bring to both providers and receivers of critical care. Where from the standpoint of a hospital, tele-intensive care units help keep medication errors in check and decrease costs, patients largely benefit from the decreased length of stay (LOS) in ICUs and a safer care environment.

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The demand for tele-intensive care is bound to also receive a push from the breakneck speed at which the adoption of telemedicine is rising across the world. This report explores how tele-intensive care is poised to be the future of intensive care, as we know it today. The tele-intensive care unit, as defined for the purpose of this study, is a medical facility that can be managed and monitored remotely. A remote ICU is thus a network of intensivists offering medical care to patients virtually from any location in the world.

The key factors driving the adoption of tele-intensive care units and the factors that are acting against this market's growth are analyzed deeply in the report. By providing a clear picture of the current dynamics shaping the global tele-intensive care unit market, the report prepares decision makers for the next phase of growth in this space.

Global Tele-intensive Care Unit Market: Drivers and Restraints

As medical practitioners grapple with the rising burden of patients requiring care, tele-intensive care units could provide an ideal solution. The growing interest and confidence in remote patient monitoring is expected to be a high-impact driver for the global tele-intensive care unit market. In addition to this, the time savings associated with quicker decision making and in providing quality care even to those patients located in far flung areas will encourage the adoption of tele-intensive care.

The real-time monitoring capabilities that tele-intensive care units offer are inspiring confidence in both patients and medical professionals. These key benefits surrounding remote ICUs will place the market firmly on the track to double-digit growth, TMR predicts.

The centralization of a vast pool of patient data, which is already rapidly underway with the proliferation of telemedicine, will aid the greater interest in tele intensive care units as well.

The reduced costs associated with a shorter hospital stay and a lower risk of HAIs will lead more patients to show willingness to spend on tele-intensive care units. The current generation of technologies in tele-intensive care units are enabling healthcare practitioners to continuously monitor vital signs of patients, receive alerts in case of deviations in set patient health parameters, and prevent other hospital-setting-related complications from arising. However, the next generation of technologies shaping the future of the tele-intensive care unit market will be centered on IoT and other smart medical devices.

Global Tele-intensive Care Unit Market: Competitive Dynamics

As more hospitals realize that tele-intensive care units can run very profitably once the initial investment costs are recovered, more investments in this space are a given. Packaged services are being regarded as a successful means by vendors to expand their current reach in the market. However, as the very character of tele-intensive care services rapidly transforms, the emergence of cutting-edge products is expected through the report's forecast period.

Among the top players in the global tele-intensive care unit market are: inTouch health, advanced ICU care, Philips, UPMC Italy, iMDsoft, INTELEICU, and INOVA.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

Full Research Report on Global Tele-intensive Care Unit (ICU) Market: