Tele-ICU market to grow to $5B by 2023

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The global tele-ICU market size, estimated at $1.2 billion last year, is expected to increase to roughly $5 billion by 2023, according to Global Market Insights.

Tele-ICU technologies like real-time monitoring and alarm systems can curb complications and improve care efficiency. 

Factors driving tele-ICU market growth are an increasing demand for remote patient monitoring and a decrease in intensive care complications because of tele-ICU. Future growth will be fueled by an increasing geriatric population and prevalence of chronic illnesses like cancer and neurological disorders. 

Factors impeding market growth include the high market price of tele-ICU technologies.

North America had the largest regional industry share of the tele-ICU market at 60 percent in 2015. Organizations like Phoenix-based Banner Health and Falls Church, Va.-based Inova are major players in the tele-ICU market space, according to the report.  

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