Global Nurse Call Systems Market: Snapshot
Growth of the nurse call systems market is gaining traction due to substantial growth in health care expenses, increasing the popularity of medical insurance mainly in the developing economies such as India and China, technological headways, and product upgradation. In addition, numerous government is imposing strict regulation on the usage of nurse call systems which are acting in the favor of growth of the nurse call systems market. These systems help in the consumer care and availability of the information for essential healthcare departments are some of the factors bolstering the growth of the global nurse call systems market.
However, the high cost of implementation and lack of trained professionals of both the healthcare and IT are limiting growth of the global nurse call systems market.
According to the report by TMR, the global market for nurse call systems is anticipated to expand at a CAGR of around 10.9% from 2017 to 2025 to attain a value of US$2,665.98 mn by the end of forecast period.
Rise in Demand for Flexible Technology to be Beneficial for Growth
On the basis of equipment-type, the global nurse call systems market is segmented in to nurse call intercoms, basic audio/ visual nurse call systems, digital nurse call systems, IP-based nurse call systems, and nurse call mobile systems. Of these, IP-based nurse call systems dominated the global nurse call systems market in 2016 owing to the flexibility of installation such as installation in phases.
On the basis of communication technology, the global nurse call systems market is segmented into wireless communication and wired communication. Of these, wired communication dominated in the market and expected to continue its dominance over the forecast period. This growth is attributable to the various government norms mandating for the wired infrastructure in acute care. On the basis of end-users, the market is segmented into hospitals, assisted living centers, nursing homes, and clinics. Of these, hospitals segment is dominating the global market and expected to continue its dominance over the forecast period. Thanks to higher adoption from hospitals than other segments. The patient-centric approach from the hospitals is fuelling growth of the global nurse call systems market.
High Acceptance from North America to Bolster Market Growth
On the basis of region, the global nurse call systems market is segmented into North America, Europe, Asia Pacific, Latin America, and Rest of the World. Of these, in 2016, North America dominated the global nurse call systems market and expected to continue its dominance over the forecast period. This growth is attributable to the high elderly population in the region. However, Asia Pacific region is anticipated to grow with higher CAGR over the forecast period due to higher adoption of secure and wired nurse call solutions in nursing facilities for acute care. Additionally, improving healthcare infrastructure and improved access, flexibility, and mobility of the wireless communications are expected to fuel growth of the nurse call systems market presence in Asia Pacific.
Key players operating in the nurse call systems market include Azure Healthcare Ltd., Cornell Communications, Hill-Rom Holdings, Inc., Ascom Holding AG, and TekTone Sound & Signal Mfg., Inc. The majority of the leading players are relying on the recent innovations in order to stand different from other competitors. These companies are increasingly taking part in the activities such as partnership, collaborations, and mergers for business expansion and improving product portfolio.
Global Nurse Call Systems Market: Overview
Nurse call systems can be defined as an electrically operated system which enables the patient to summon a nurse from a duty station or a bedside station. Nurse call system offers high productivity and quality of nursing services in institutions, which employ relatively new and inexperienced nurses. In addition, the nurse call system proves crucial in providing quality health care services by automatically managing the nursing activities and tasks. The significant increase in the need for efficient and responsive health care communication, increasing budget allocation for health care of elderly population, and growing patient population, among others are anticipated to contribute to the significant growth of the market during the forecast period.
Global Nurse Call Systems Market: Key Research Aspects
The research is a combination of primary and secondary research, conducted for understanding and arriving at trends, used to forecast the expected revenue of drugs employed in the treatment of nurse call systems in the near future. Primary research formed the bulk of our research efforts with information collected from in-depth interviews and discussions with a number of key industry experts and opinion leaders. Secondary research involved study of company websites, annual reports, press releases, investor presentations, analyst presentation and various international and national databases. The report provides estimated market size in terms of US$ Mn for type of equipment, communication type, end-user, and geography for the period 2015 to 2025, considering the macro and micro environmental factors. The revenue generated from each type of equipment, communication technology, and end-user was calculated by considering the preference for nurse call system in different regions, and utilization of the nurse call system across all the geographies.
The market report comprises an elaborated executive summary, which includes market snapshot that provides information about various segments of the market. It also provides information and data analysis of the market with respect to market segments based on type of equipment, communication technology, and end-user, and geography. The market overview section of the report analyzes market dynamics such as drivers, restraints and opportunities that influences the nurse call systems market in the current and future scenario. The report also provides key industry events and Porter’s five forces analysis for the market.
Market share analysis among the market players is analyzed to signify the contribution of these players in the market in terms of percentage share. All these factors will help the market players to decide about the business strategies and plans to strengthen their positions in the global market. Based on geography, the market has been analyzed for major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The study also covers detailed country analysis contributing majorly in the nurse call systems market.
Global Nurse Call Systems Market: Competitive Landscape
The report also profiles the major players in the market and provides various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments. Companies profiled in the nurse call systems market report are Ascom Holding AG, Azure Healthcare Limited, Cornell Communications, Hill-Rom Holdings, Inc., Jeron Electronic Systems, Inc., STANLEY Healthcare, TekTone Sound & Signal Mfg., Inc., Tyco SimplexGrinnell, Vigil Health Solutions, Inc., and Rauland-Borg Corporation (Acquired by Ametek, Inc.), among others.
The Nurse Call Systems Market has been segmented as follows:
- Nurse Call Systems Market, by Type of Equipment, Revenue (US$ Mn) 2015-2025
- Nurse Call Intercoms
- Basic Audio/ Visual Nurse Call Systems
- Digital Nurse Call Systems
- IP based Nurse Call Systems
- Nurse Call Mobile Systems
- Nurse Call Systems Market, by Communication Technology, Revenue (US$ Mn) 2015-2025
- Wireless Communication
- Wired Communication
- Nurse Call Systems Market, by End-user, Revenue (US$ Mn) 2015-2025
- Assisted Living Centers
- Nursing Homes
- Nurse Call Systems Market Revenue, by Geography (US$ Mn), 2015-2025
- North America
- Rest of Europe
- Asia Pacific
- New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- North America