The Tele Intensive Care Unit Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Tele Intensive Care Unit Global Market Report 2024, The tele intensive care unit market size has grown rapidly in recent years. It will grow from $4.52 billion in 2023 to $5.35 billion in 2024 at a compound annual growth rate (CAGR) of 18.3%. The growth in the historic period can be attributed to covid-19 pandemic impact, early adoption and pilot programs, increased focus on patient outcomes, shortage of intensive care specialists, rise of telemedicine.
The tele intensive care unit market size is expected to see rapid growth in the next few years. It will grow to $10.8 billion in 2028 at a compound annual growth rate (CAGR) of 19.2%. The growth in the forecast period can be attributed to shortage of intensivists, educational initiatives, remote chronic disease management, integration with healthcare systems, regulatory developments, post-pandemic continuation. Major trends in the forecast period include geographic accessibility, cost-effectiveness, patient-centered care, technological innovations.
An increase in the number of cases of medication errors is driving the growth of the tele-intensive care unit market going forward. A medication error is defined as any avoidable occurrence that could result in improper pharmaceutical use. The advantages of tele intensive include a decrease in prescribing errors using warnings and prompt reminders by the physician through tele intensive care and the ability to guide the patient through drug interactions. For instance, in July 2022, according to an article published by the National Institutes of Health (NIH), a US-based biomedical research agency, medication errors cause 7,000–9,000 fatalities annually in the United States. Over 7 million patients are affected and treating patients with medication-related errors costs more than $40 billion annually. Therefore, an increase in the number of cases of medication errors is driving the growth of the tele-intensive care unit market.
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The tele intensive care unit market covered in this report is segmented –
1) By Type: Centralized Models, Decentralized Models, Other Models
2) By Type Of Management: Intensivist, Open, Co-Managed, Open With Consultants, Other Type Of Management
3) By Component: Hardware, Software
4) By End User: Hospitals, Clinics, Other End Users
Top Major Players:
Hicuity Health LLC
Banner Health System
Teladoc Health Inc
Koninklijke Philips NV
University of Pittsburgh Medical Center
North America was the largest region in the tele intensive care unit market in 2023.
Technological advancements are the key trends gaining popularity in the tele-intensive care unit market. Major companies operating in the market are introducing innovative platforms, to sustain their position in the market. For instance, in June 2022, VA New York Harbor Healthcare System, a US-based company, launched a TeleCritical Care Program in Brooklyn VA Medical Center’s Intensive Care Unit. The program provides remote intensive care physicians and nurses who support the care of ICU patients through advanced telehealth technology. The initiative, called Tele-ICU, provides local medical staff with around-the-clock bedside access to experts who are specially trained in the care of critically ill patients.
The tele intensive care unit market report table of contents includes:
1. Executive Summary
2. Tele Intensive Care Unit Market Characteristics
3. Tele Intensive Care Unit Market Trends And Strategies
4. Tele Intensive Care Unit Market – Macro Economic Scenario
5. Global Tele Intensive Care Unit Market Size and Growth
…..
31. Global Tele Intensive Care Unit Market Competitive Benchmarking
32. Global Tele Intensive Care Unit Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Tele Intensive Care Unit Market
34.Tele Intensive Care Unit Market Future Outlook and Potential Analysis
35. Appendix
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