Global Virtual ICU Market

Report ID : 1326 | Published : 2022-08-01 | Pages: | Format: PDF/EXCEL

The market size of the Global Virtual ICU Market in the year 2021 is valued at 3.49 billion and is predicted to reach 11.58 billion by the year 2030 at a 14.65% CAGR during the projected period.

A virtual intensive care unit (ICU) is a telemedicine program that deals with a patient's critical care in a hospital (tele-ICU). The virtual ICU helps to connect the critical care team at a distant site with the bedside ICU staff using audio-visual communication and monitoring technology. With the expanding telehealth sector's global penetration, the virtual ICU market is predicted to expand rapidly. The global virtual ICU market is increasing significantly as a result of the rising prevalence of various chronic diseases and the increased use of digital technologies in the healthcare industry. The virtual ICU creates a link between the hospital's intensive care team and the critical care team operating at a different site. The doctors can communicate their essential observations about the patients' health with the intensive care team during procedures thanks to the virtual ICU's real-time data transfer between patients and doctors. The introduction of the virtual ICU in hospitals is mostly driven by the lack of sufficient intensivists worldwide. Using the virtual ICU may enhance patient care and help save patients' lives.

However, a lack of enough investment may prevent the market from expanding in the years to come. The rise in patient treatment costs is expected to provide difficulties for the virtual intensive care unit (ICU) industry throughout the projected period. The high cost of ICU maintenance and yearly fees is projected to impede the growth of the virtual intensive care unit (ICU) business. The lack of competent healthcare and IT infrastructure, particularly in underdeveloped economies, is limiting the growth of the virtual ICU industry.

Market Segmentation:

The Virtual ICU Market is segmented on the basis of Component, Type, and End-User. Based on the Component, the market is segmented into Hardware (Computer System, Communication Lines, Physiological Monitors, Therapeutic Device, Video Feed, Display Panels) and Software. Based on Type, the market is segmented as Traditional Medical ICU (TMICU), Cardiac Care Unit (CCU), Neonatal ICU (NICU), Pediatric ICU (PICU), Trauma ICU (TICU), Psychiatric ICU (PICU), High-Dependency Unit (HDU), and Others. Based on End-User, the market is segmented as Payer, Patient, and Provide.

Based on Components, the hardware segment is accounted as a major contributor to the Virtual ICU Market.

In the forecast period, hardware tools will dominate the market and account for a major share of total revenue. The main factors driving high penetration in this market are the availability of several pieces of equipment and machines for various uses and their widespread deployment. The hardware is widely utilized in hospitals and comprises a wide range of devices. A mobile frame, communication cables, computers, therapeutic devices, video feed, and several other pieces of hardware are used. Physiological Monitor has generated considerable revenue in this market segment as a result of the widespread usage and expensive gear. The prevalence of configured and modular monitors, the rising use of monitors to display information, and the majority of necessary data are some factors that will likely enhance the growth of physiological monitors. Other factors include the increasing number of geriatric populations worldwide and the rising number of patients suffering from lifestyle diseases like cardiovascular disease.

Based on Type, the Pediatric ICU (PICU) segment is accounted as a significant contributor to the Virtual ICU Market.

The Pediatric ICU is currently widely used in the sector, and the Pediatric division has drawn a lot of interest. This market's main growth drivers are safety, low health risk to youngsters, and improved treatment. One of the primary factors driving the growth of Pediatric ICU is the increase in the prevalence of chronic diseases or infectious diseases among the pediatric population, such as leukemia, diphtheria, mumps, measles, asthma, anemia, tuberculosis, chickenpox, Lyme disease, whooping cough, and pneumonia. The government's raised investment in research and development programs to build the medical infrastructure in the pediatric field, along with rising demand for devices primarily used in cardiology, neonatal intensive care unit (ICU), and monitoring, propel the growth of the Pediatric ICU.

The North America Virtual ICU Market holds a significant regional revenue share.

North America will account for a substantial share of the market share. The region's need for virtual ICUs is being majorly fuelled by the rising prevalence of chronic diseases and the ageing population in major economies like the US. Additionally, the developed healthcare infrastructure that enables the quick implementation of cutting-edge technologies, together with the growing demand for advanced healthcare-related products and Software in the region, is significantly fuelling the expansion of the North American virtual ICU market. The region's rapidly expanding healthcare infrastructure and the growing awareness of virtual ICU systems are driving the market's growth. The government's adoption of electronic medical equipment and the rising number of patients are anticipated to boost market expansion.

Competitive Landscape

The key players in the Virtual ICU Market have shifted their focus towards bio-based components for product manufacturing and are initiating significant strategies such as mergers, acquisitions, and through partnerships with regional and international companies to expand their product offerings and expand their global market presence. Some of the major key players in the Virtual ICU Market are            Advanced ICU Care, Banner Health, InTouchhealth, Philips, iMDsoft, UPMC Italy, INTELEICU, TeleICU, INOVA, VISICU, Eagle Telemedicine, Apollo Tele Health Services, SOC Telemed, Atrium Health, and Capsule Technologies.

Chapter 1. Methodology and Scope

1.1. Research Methodology

1.2. Research Scope & Assumptions

Chapter 2. Executive Summary

Chapter 3. Global Virtual ICU Market Snapshot

Chapter 4. Global Virtual ICU Market Variables, Trends & Scope

4.1. Market Segmentation & Scope

4.2. Drivers

4.3. Challenges

4.4. Trends

4.5. Investment and Funding Analysis

4.6. Industry Analysis – Porter’s Five Forces Analysis

4.7. Competitive Landscape & Market Share Analysis

4.8. Impact of Covid-19 Analysis

Chapter 5. Market Segmentation 1: By Component Estimates & Trend Analysis

5.1. By Component & Market Share, 2020 & 2030

5.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2020 to 2030 for the following By Component:

5.2.1. Hardware

5.2.1.1. Computer System

5.2.1.2. Communication Lines

5.2.1.3. Physiological Monitors

5.2.1.4. Therapeutic Devices

5.2.1.5. Video Feeds

5.2.1.6. Display Panels

5.2.2. Software

Chapter 6. Market Segmentation 2: By Type Estimates & Trend Analysis

6.1. By Type & Market Share, 2020 & 2030

6.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2020 to 2030 for the following By Type:

6.2.1. Traditional Medical ICU (TMICU)

6.2.2. Cardiac Care Unit (CCU)

6.2.3. Neonatal ICU (NICU)

6.2.4. Pediatric ICU (PICU)

6.2.5. Trauma ICU (TICU)

6.2.6. Psychiatric ICU (PICU)

6.2.7. High-Dependency Unit (HDU)

6.2.8. Others

Chapter 7. Market Segmentation 3: By End-User Estimates & Trend Analysis

7.1. By End-User & Market Share, 2020 & 2030

7.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2020 to 2030 for the following By End-User:

7.2.1. Payer

7.2.2. Patient

7.2.3. Provide

Chapter 8. Virtual ICU Market Segmentation 4: Regional Estimates & Trend Analysis

8.1. North America

8.1.1. North America Virtual ICU Market revenue (US$ Million) estimates and forecasts By Component, 2020-2030

8.1.2. North America Virtual ICU Market revenue (US$ Million) estimates and forecasts By Type, 2020-2030

8.1.3. North America Virtual ICU Market revenue (US$ Million) estimates and forecasts by Scale of Operation, 2020-2030

8.1.4. North America Virtual ICU Market revenue (US$ Million) estimates and forecasts by country, 2020-2030

8.2. Europe

8.2.1. Europe Virtual ICU Market revenue (US$ Million) By Component, 2020-2030

8.2.2. Europe Virtual ICU Market revenue (US$ Million) By Type, 2020-2030

8.2.3. Europe Virtual ICU Market revenue (US$ Million) estimates and forecasts by Scale of Operation, 2020-2030

8.2.4. Europe Virtual ICU Market revenue (US$ Million) by country, 2020-2030

8.3. Asia Pacific

8.3.1. Asia Pacific Virtual ICU Market revenue (US$ Million) By Component, 2020-2030

8.3.2. Asia Pacific Virtual ICU Market revenue (US$ Million) By Type, 2020-2030

8.3.3. Asia Pacific Virtual ICU Market revenue (US$ Million) estimates and forecasts by Scale of Operation, 2020-2030

8.3.4. Asia Pacific Virtual ICU Market revenue (US$ Million) by country, 2020-2030

8.4. Latin America

8.4.1. Latin America Virtual ICU Market revenue (US$ Million) By Component, (US$ Million)

8.4.2. Latin America Virtual ICU Market revenue (US$ Million) By Type, (US$ Million)

8.4.3. Latin America Virtual ICU Market revenue (US$ Million) estimates and forecasts by Scale of Operation, 2020-2030

8.4.4. Latin America Virtual ICU Market revenue (US$ Million) by country, 2020-2030

8.5. Middle East & Africa

8.5.1. Middle East & Africa Virtual ICU Market revenue (US$ Million) By Component, (US$ Million)

8.5.2. Middle East & Africa Virtual ICU Market revenue (US$ Million) By Type, (US$ Million)

8.5.3. Middle East & Africa Virtual ICU Market revenue (US$ Million) estimates and forecasts by Scale of Operation, 2020-2030

8.5.4. Middle East & Africa Virtual ICU Market revenue (US$ Million) by country, 2020-2030

Chapter 9. Competitive Landscape

9.1. Major Mergers and Acquisitions/Strategic Alliances

9.2. Company Profiles

9.2.1. Advanced ICU Care

9.2.2. Banner Health

9.2.3. InTouchhealth

9.2.4. Philips

9.2.5. iMDsoft

9.2.6. UPMC Italy

9.2.7. INTELEICU

9.2.8. TeleICU

9.2.9. INOVA

9.2.10. VISICU

9.2.11. Eagle Telemedicine

9.2.12. Apollo Tele Health Services

9.2.13. SOC Telemed

9.2.14. Atrium Health

9.2.15. Capsule Technologies

9.2.16. Other Prominent Players

Segmentation of Virtual ICU Market-

By Component

  • Hardware
  • Computer System
  • Communication Lines
  • Physiological Monitors
  • Therapeutic Devices
  • Video Feeds
  • Display Panels
  • Software

By Type

  • Traditional Medical ICU (TMICU)
  • Cardiac Care Unit (CCU)
  • Neonatal ICU (NICU)
  • Pediatric ICU (PICU)
  • Trauma ICU (TICU)
  • Psychiatric ICU (PICU)
  • High-Dependency Unit (HDU)
  • Others

By End-User

  • Payer
  • Patient
  • Provide

By Region-

North America-

  • The US
  • Canada
  • Mexico

Europe-

  • Germany
  • The UK
  • France
  • Italy
  • Spain
  • Rest of Europe

Asia-Pacific-

  • China
  • Japan
  • India
  • South Korea
  • South East Asia
  • Rest of Asia Pacific

Latin America-

  • Brazil
  • Argentina
  • Rest of Latin America

 Middle East & Africa-

  • GCC Countries
  • South Africa

Rest of Middle East and Africa

InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.

Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.

Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.

Secondary research

The secondary research sources that are typically mentioned to include, but are not limited to:

  • Company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings.
  • External and internal proprietary databases, regulatory databases, and relevant patent analysis
  • Statistical databases, National government documents, and market reports
  • Press releases, news articles, and webcasts specific to the companies operating in the market

The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista

Primary Research:

Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies

The contributors who typically take part in such a course include, but are not limited to: 

  • Industry participants: CEOs, CBO, CMO, VPs, marketing/ type managers, corporate strategy managers, and national sales managers, technical personnel, purchasing managers, resellers, and distributors.
  • Outside experts: Valuation experts, Investment bankers, research analysts specializing in specific markets
  • Key opinion leaders (KOLs) specializing in unique areas corresponding to various industry verticals
  • End-users: Vary mainly depending upon the market

Data Modeling and Analysis:

In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.

The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.

To know more about the research methodology used for this study, kindly contact us/click here.

Need Complete Report ?

Frequently Asked Questions

Who are the Key Players in the Global Virtual ICU Market?

2021 is valued at 3.49 billion and is predicted to reach 11.58 billion by the year 2030

14.65% CAGR during the projected period.

Our Clients