Nov 15, 2021

Philips, Advanced ICU Care, INOVA, Banner Health, iMDsoft, InTouch health, VISICU, UPMC Italy, INTELEICU, Tele-ICU 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. Key Players - The top key players of virtual ICU market are Advanced ICU Care, INOVA, Banner Health, Philips, iMDsoft, InTouch health, UPMC Italy, INTELEICU, Tele-ICU, VISICU. Browse More Related Reports@ https://www.precedenceresearch.com/industry/healthcare Segments Covered in the Report By Type Buy this Premium Research Report@  https://www.precedenceresearch.com/checkout/1345 You can place an order or ask any questions, please feel free to contact at  sales@precedenceresearch.com  | +1 9197 992 333 About Us Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defense, among different ventures present globally. For Latest Update Follow Us: