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Virtual ICU Market Trending Technologies with 15.8% of CAGR by 2030

According to Precedence Research, the global virtual ICU market size is forecasted to reach US$ 11.2  billion by 2030 from US$ 3 billion in 2021, by growing at a lucrative CAGR of 15.8% between 2021 and 2030.

The report contains 150+ pages with detailed analysis. The base year for the study has been considered 2021, the historic year 2017 to 2020, the forecast period considered is from 2021 to 2030. The report offers exclusive insights to help companies make informed decisions to sustain growth through the assessment period.

Download Free Sample Copy with TOC, Graphs & List of Figures @ https://www.precedenceresearch.com/sample/1345

The various benefits such as time management, remote monitoring, resource management, and increased efficiency in treatment associated with the adoption of virtual ICU is significantly driving the demand for the global virtual ICU market across the globe. The rising penetration of internet connectivity, introduction of 5G, and rising investments to develop IT infrastructure are the major impacting factors that propels the growth of the virtual ICU market. The telemedicine industry has gained rapid popularity and success in a very short span of time. The regular developments and rising adoption of technologically advanced electronic systems in the hospitals is surging the demand for the virtual ICU across the globe. Furthermore, the lack of adequate number of intensivists is fostering the adoption of the virtual ICUs. The virtual ICU communicates with the physician or intensivist at a distant location to help the ICU members take clinical decisions and helps in effective and efficient patient care.

The rising prevalence of chronic diseases among the population, growing geriatric population, and rising number of road accidents are the major factors that necessitates the adoption of virtual ICUs at hospitals.According to the World Health Organization, around 1.3 million people die each year due to road accidents. Further, the rising number of ICUs in the hospitals owing to the rising governed investments in the development of healthcare infrastructure is boosting the growth of the global virtual ICU market.

North America dominated the virtual ICU market, garnering around 60% of the market share in 2020. North America is characterized by developed healthcare infrastructure, developed IT infrastructure, rising penetration of internet connectivity, and higher adoption rate of technologically advanced hardware and software systems. Nation like US is witnessing a surge in the geriatric population along the rising number of hospital admissions. All these factors have significantly contributed towards the growth of the virtual ICU market in North America.

Asia Pacific is expected to register highest CAGR during the forecast period. The nations like China, South Korea, Singapore, and India are witnessing an increased penetration of electronic medical devices in the healthcare sector owing to the increasing government investments on the development of strong healthcare infrastructure. Moreover, surge in the investments regarding the adoption of 5G internet connectivity is expected to show a positive effect on the market. Further, the rising number of road accidents may boost the adoption of virtual ICU. According to the World Health Organization, around 1.3 million people die each year due to road accidents. Around 93% of these road accidents occur in underdeveloped and developing regions. Hence, these factors are expected to benefit the market growth in this region.

The high cost of ICU is a major restraining factor. According to the Society of Critical Care Medicine, cost of ICU in 2010 was estimated at US$ 4,300 per day. There was an increase of around 61% in the per day cost of ICU since 2000. The cost of ICU in 2000 was US$ 2,669 per day. Therefore the high costs of the ICUs may restrict the market growth in the low and middle-income countries during the forecast period.

The regular updates and addition of new features as a result of constant research and development by the key market players is expected to provide new growth avenues in the forthcoming future. However, the lack of adequate healthcare and IT infrastructure especially in the underdeveloped economies is restricting the growth of the virtual ICU market. Moreover, lack of adequate amount of funds may further delay the development of the market in the forthcoming years.

Based on the type, the intensivists segment is estimated to be the most opportunistic segment during the forecast period. The increased usage of virtual ICUs to establish a smooth connection between the intensivist and intensive care unit members is surging day by day. Further, the rising number of ICUs in hospitals coupled with the rising number of intensivists is expected to drive the growth of this segment in the upcoming years.

Based on the component, the hardware segment dominated the market in 2020. The hardware consists of wide variety of devices such as keyboards, monitors, communication lines, and various other devices. The extensive use of wide variety of costly hardware devices have significantly contributed towards the growth of this segment. Moreover, increasing investments on the acquisition of advanced hardware in the hospitals for improving the patient care services is positively impacting the segment growth.

Scope of the Virtual ICU Market Report

Report Highlights Details
Market Size US$ 9.5 Billion by 2030
Growth Rate CAGR of 15.8% from 2021 to 2030
Largest Market North America
Fastest Growing Market Asia Pacific
Base Year 2021

Some of the prominent players in the global virtual ICU market are listed as below:

  • Advanced ICU Care
  • INOVA
  • Banner Health
  • Philips
  • iMDsoft
  • InTouch health
  • UPMC Italy
  • INTELEICU
  • Tele-ICU
  • VISICU

Segments Covered in the Report

By Type

  • Intensivist
  • Co-managed
  • Open
  • Open with Consultants

By Component

  • Software
  • Hardware
    • Communication Lines
    • Physiological Monitors
    • Computer Systems
    • Therapeutic Devices
    • Display Panels
    • Others

By Geography

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Rest of the World

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on Virtual ICU Market 

5.1. COVID-19 Landscape: Virtual ICU Industry Impact

5.2. COVID 19 – Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global Virtual ICU Market, By Product

8.1. Virtual ICU Market, by Product Type, 2021-2030

8.1.1. Intensivist

8.1.1.1. Market Revenue and Forecast (2019-2030)

8.1.2. Co-managed

8.1.2.1. Market Revenue and Forecast (2019-2030)

8.1.3. Open

8.1.3.1. Market Revenue and Forecast (2019-2030)

8.1.4. Open with Consultants

8.1.4.1. Market Revenue and Forecast (2019-2030)

Chapter 9. Global Virtual ICU Market, By Component

9.1. Virtual ICU Market, by Component, 2021-2030

9.1.1. Software

9.1.1.1. Market Revenue and Forecast (2019-2030)

9.1.2. Hardware

9.1.2.1. Market Revenue and Forecast (2019-2030)

Chapter 10. Global Virtual ICU Market, Regional Estimates and Trend Forecast

10.1. North America

10.1.1. Market Revenue and Forecast, by Product (2019-2030)

10.1.2. Market Revenue and Forecast, by Component (2019-2030)

10.1.3. U.S.

10.1.3.1. Market Revenue and Forecast, by Product (2019-2030)

10.1.3.2. Market Revenue and Forecast, by Component (2019-2030)

10.1.4. Rest of North America

10.1.4.1. Market Revenue and Forecast, by Product (2019-2030)

10.1.4.2. Market Revenue and Forecast, by Component (2019-2030)

10.2. Europe

10.2.1. Market Revenue and Forecast, by Product (2019-2030)

10.2.2. Market Revenue and Forecast, by Component (2019-2030)

10.2.3. UK

10.2.3.1. Market Revenue and Forecast, by Product (2019-2030)

10.2.3.2. Market Revenue and Forecast, by Component (2019-2030)

10.2.4. Germany

10.2.4.1. Market Revenue and Forecast, by Product (2019-2030)

10.2.4.2. Market Revenue and Forecast, by Component (2019-2030)

10.2.5. France

10.2.5.1. Market Revenue and Forecast, by Product (2019-2030)

10.2.5.2. Market Revenue and Forecast, by Component (2019-2030)

10.2.6. Rest of Europe

10.2.6.1. Market Revenue and Forecast, by Product (2019-2030)

10.2.6.2. Market Revenue and Forecast, by Component (2019-2030)

10.3. APAC

10.3.1. Market Revenue and Forecast, by Product (2019-2030)

10.3.2. Market Revenue and Forecast, by Component (2019-2030)

10.3.3. India

10.3.3.1. Market Revenue and Forecast, by Product (2019-2030)

10.3.3.2. Market Revenue and Forecast, by Component (2019-2030)

10.3.4. China

10.3.4.1. Market Revenue and Forecast, by Product (2019-2030)

10.3.4.2. Market Revenue and Forecast, by Component (2019-2030)

10.3.5. Japan

10.3.5.1. Market Revenue and Forecast, by Product (2019-2030)

10.3.5.2. Market Revenue and Forecast, by Component (2019-2030)

10.3.6. Rest of APAC

10.3.6.1. Market Revenue and Forecast, by Product (2019-2030)

10.3.6.2. Market Revenue and Forecast, by Component (2019-2030)

10.4. MEA

10.4.1. Market Revenue and Forecast, by Product (2019-2030)

10.4.2. Market Revenue and Forecast, by Component (2019-2030)

10.4.3. GCC

10.4.3.1. Market Revenue and Forecast, by Product (2019-2030)

10.4.3.2. Market Revenue and Forecast, by Component (2019-2030)

10.4.4. North Africa

10.4.4.1. Market Revenue and Forecast, by Product (2019-2030)

10.4.4.2. Market Revenue and Forecast, by Component (2019-2030)

10.4.5. South Africa

10.4.5.1. Market Revenue and Forecast, by Product (2019-2030)

10.4.5.2. Market Revenue and Forecast, by Component (2019-2030)

10.4.6. Rest of MEA

10.4.6.1. Market Revenue and Forecast, by Product (2019-2030)

10.4.6.2. Market Revenue and Forecast, by Component (2019-2030)

10.5. Latin America

10.5.1. Market Revenue and Forecast, by Product (2019-2030)

10.5.2. Market Revenue and Forecast, by Component (2019-2030)

10.5.3. Brazil

10.5.3.1. Market Revenue and Forecast, by Product (2019-2030)

10.5.3.2. Market Revenue and Forecast, by Component (2019-2030)

10.5.4. Rest of LATAM

10.5.4.1. Market Revenue and Forecast, by Product (2019-2030)

10.5.4.2. Market Revenue and Forecast, by Component (2019-2030)

Chapter 11. Company Profiles

11.1. Advanced ICU Care

11.1.1. Company Overview

11.1.2. Product Offerings

11.1.3. Financial Performance

11.1.4. Recent Initiatives

11.2. INOVA

11.2.1. Company Overview

11.2.2. Product Offerings

11.2.3. Financial Performance

11.2.4. Recent Initiatives

11.3. Banner Health

11.3.1. Company Overview

11.3.2. Product Offerings

11.3.3. Financial Performance

11.3.4. Recent Initiatives

11.4. Philips

11.4.1. Company Overview

11.4.2. Product Offerings

11.4.3. Financial Performance

11.4.4. Recent Initiatives

11.5. iMDsoft

11.5.1. Company Overview

11.5.2. Product Offerings

11.5.3. Financial Performance

11.5.4. Recent Initiatives

11.6. InTouch health

11.6.1. Company Overview

11.6.2. Product Offerings

11.6.3. Financial Performance

11.6.4. Recent Initiatives

11.7. UPMC Italy

11.7.1. Company Overview

11.7.2. Product Offerings

11.7.3. Financial Performance

11.7.4. Recent Initiatives

11.8. INTELEICU

11.8.1. Company Overview

11.8.2. Product Offerings

11.8.3. Financial Performance

11.8.4. Recent Initiatives

11.9. Tele-ICU

11.9.1. Company Overview

11.9.2. Product Offerings

11.9.3. Financial Performance

11.9.4. Recent Initiatives

11.10. VISICU

11.10.1. Company Overview

11.10.2. Product Offerings

11.10.3. Financial Performance

11.10.4. Recent Initiatives

Chapter 12. Research Methodology

12.1. Primary Research

12.2. Secondary Research

12.3. Assumptions

Chapter 13. Appendix

13.1. About Us

13.2. Glossary of Terms

Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.

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