Virtual ICU Market Current Scenario with Forecast to 2031 In The Latest Research

Virtual ICU Market Assessment worth $ 11.58 Billion by 2030 - Exclusive Report by InsightAce Analytic

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Virtual ICU Market- by Component (Hardware (Computer System, Communication Lines, Physiological Monitors, Therapeutic Device, Video Feed, Display Panels) and Software), 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), and Others), End-User (Payer, Patient, and Provider), Trends, Industry Competition Analysis, Revenue and Forecast To 2030."

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According to the latest research by InsightAce Analytic, the global Virtual ICU market is valued at US$ 3.49 Billion in 2021, and it is expected to reach US$ 11.58 Billion by 2030, with a CAGR of 14.65% during a forecast period of 2024-2031.

A virtual intensive care unit (ICU) is a telemedicine service that deals with a patient's critical care in a hospital setting (tele-ICU). The virtual intensive care unit (ICU) helps connect the critical care team at a separate location with the ICU staff at the patient's bedside using monitoring technologies and audio-visual communication. The major benefit of the virtual intensive care unit is that it establishes a connection via video communication and analytics or monitoring systems between the hospital's intensive care unit staff and the critical care team, which is situated in a distant location. The virtual ICU's hardware monitors patient data and sends it to a doctor or intensivist who is stationed elsewhere.

The use of the virtual ICU is anticipated to increase significantly throughout the projected period due to the rising number of hospitals worldwide and intensive care units inside hospitals. Additionally, a significant factor driving the market for virtual ICUs is the growing investments made by hospitals to improve operational efficiency through the adoption of cutting-edge technologies and communication systems.

Additionally, the adoption of the virtual ICU in hospitals is anticipated to increase due to the rising incidence of chronic conditions and the rising frequency of traffic accidents. The need for the virtual ICU is further increased by the growing geriatric population and the rising disease load. The global market for virtual intensive care units is expanding due to the quick adoption of digital or virtual technology throughout the healthcare industry. The COVID-19 pandemic is expected to spread quickly starting in 2020, which is why the virtual ICU is growing in popularity.

Since the COVID-19 epidemic, customer interest in the telemedicine industry has significantly increased in the telemedicine industry, including the virtual ICU. The market for these services is expected to proliferate over the projected period as a result of the rising use of tele-ICUs or virtual ICUs worldwide. The unavailability of intensivists is one of the major issues affecting the global virtual ICU industry.

North America is anticipated to be the major contributor to the Virtual ICU market over the forecast years. The growing frequency of chronic diseases and the ageing population in developed nations like the US drive the region's demand for virtual intensive care units. The North American virtual ICU market is also heavily fueled by the region's developed healthcare infrastructure, which enables the speedy deployment of cutting-edge technology and the rising demand for modern healthcare-related goods and software.

In addition, the Asia Pacific Virtual ICU market is expected to grow significantly during the forecast period. The region's rapidly expanding healthcare infrastructure and the growing awareness of virtual ICU systems are driving the market's expansion. Further, it is anticipated that in the near future, the demand for virtual ICUs in the region will be greatly fueled by the rapidly expanding digital communications and IT infrastructure across developing countries like China, India, and South Korea.

Major market players operating in the Virtual ICU market include Advanced ICU Care, Banner Health, InTouchhealth, Philips, iMDsoft, UPMC Italy, INTELEICU, Tele-ICU, Apollo Tele Health Services, INOVA, VISICU, Eagle Telemedicine, SOC Telemed, Atrium Health, and Capsule Technologies.

Recent collaborations and agreements in the market:

• In January 2022, Smiths Medical was successfully acquired from Smiths Group plc by ICU Medical Inc. Smiths Medical's product line includes vascular access, syringe and mobile infusion devices, and basic medical supplies.
• In January 2021, An international leader in health technology, Royal Philips, announced the acquisition of Capsule Technologies, Inc. The acquisition of Capsule matches Philips' aim of utilizing integrated solutions to enhance care delivery across the health continuum nicely.

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Market Segments

Global Virtual ICU Market, by Component, 2022-2030 (Value US$ Mn)

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

Global Virtual ICU Market, by Type, 2022-2030 (Value US$ Mn)

• 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

Global Virtual ICU Market, by End-Users, 2022-2030 (Value US$ Mn)

• Payer
• Patient
• Provider

Global Virtual ICU Market, by Region, 2022-2030 (Value US$ Mn)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

North America Virtual ICU Market, by Country, 2022-2030 (Value US$ Mn)

• U.S.
• Canada

Europe Virtual ICU Market, by Country, 2022-2030 (Value US$ Mn)

• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe

Asia Pacific Virtual ICU Market, by Country, 2022-2030 (Value US$ Mn)

• India
• China
• Japan
• South Korea
• Australia & New Zealand

Latin America Virtual ICU Market, by Country, 2022-2030 (Value US$ Mn)

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa Virtual ICU Market, by Country, 2022-2030 (Value US$ Mn)

• GCC Countries
• South Africa
• Rest of Middle East & Africa

Why should buy this report:

• To receive a comprehensive analysis of the prospects for the global Virtual ICU market
• To receive an industry overview and future trends of the Virtual ICU market
• To analyze the Virtual ICU market drivers and challenges
• To get information on the Virtual ICU market value (US$Mn) forecast to 2030
• Significant investments, mergers & acquisitions in the Virtual ICU market industry

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