The most recent study conducted by Report Ocean, titled “Global Tele-Intensive Care Unit Market Size, Share, Pricing, Trends, Growth, Report and Forecast 2023-2030,” presents a comprehensive analysis of the worldwide market. This research delves into the factors driving the market, emerging trends, opportunities for development, as well as potential limitations that may affect the Tele-Intensive Care Unit. The report provides an estimation of the global market size and examines recent strategic actions taken by prominent international competitors.
Global Tele-Intensive Care Unit Market is valued approximately USD 2.45 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 16.70 % over the forecast period 2021-2027. Tele-Intensive Care Unit is an application which delas with critical care of a patient in a hospital. It is an off-site clinical resource which uses audio, video, electronic, and tele-communication links to leverage technical, informational, and clinical resources. The increasing geriatric population is driving the growth for tele-intensive care unit.. For Instance: as per the United Nation Department of Economic and Social Affairs, in 2020 there are around 727 million people aged above 65 years and this number is forecasted to be doubled by 2050.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
Furthermore, rise in number of intensive care unit is also driving the growth for the market. Also, the technological advancement is likely to increase the market growth during the forecast period. However, high cost of technologies and implementation problem limits the market growth of tele-intensive care unit market for the forecasted period.
The key regions considered for the global Tele-Intensive Care Unit market study includes Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the dominating region across the world in terms of market share owing to the IT infrastructure, robust communication, presence of high-speed connectivity is excelling the market of tele-intensive care unit in the region for the forecasted period 2021 to 2027. Whereas, Asia-Pacific is anticipated to exhibit highest growth rate / CAGR over the forecast period 2021-2027. Factors such as the region has emerging economies and initiatives by government is taken for healthcare system which would create lucrative growth prospects for the Tele-Intensive Care Unit market across Asia-Pacific region.
Major market player included in this report are:
Advanced ICU Care
INOVA
Banner Health
Philips
iMDsoft
InTouch health
UPMC Italy
INTELEICU
Tele-ICU
VISICU
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Component Outlook:
Hardware
Software
By Type Outlook:
Intensivist
Co-managed
Open
Open With Consultants
By Region:
North America
U.S.
Canada
Europe
UK
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Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Russia-Ukraine War on Market
The market is anticipated to suffer because of the Russia-Ukraine War. The demand for the market has decreased as a result of the political unrest and economic unrest in the area. The war had a detrimental impact on global economic activity, adding to inflationary pressures globally and hindering the post-pandemic recovery, even if it was not the primary cause of the slower-than-anticipated economic growth in 2022 and revised estimates for 2023.
The Five Forces analysis examines the following factors:
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
The PESTLE analysis takes into account the following dimensions:
- Political factors: This includes political policies, stability, and factors related to trade, fiscal policies, and taxation policies.
- Economic factors: This involves analyzing interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates.
- Social factors: These encompass changing family demographics, education levels, cultural trends, shifts in attitudes, and changes in lifestyles.
- Technological factors: This examines changes in digital or mobile technology, automation, and research and development in the relevant industry.
- Legal factors: This entails analyzing employment legislation, consumer law, health and safety regulations, as well as international trade regulations and restrictions.
- Environmental factors: This dimension considers aspects such as climate change, recycling procedures, carbon footprint, waste disposal, and sustainability practices.
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