Global Nurse Call Systems Market: Rising Need for Efficient Communication in Healthcare to Ensure Steady Growth, says TMR
The global nurse call system equipment market is moderately fragmented and features several leading players such as Rauland-Borg Corporation, Ascom Holding AG, Hill-Rom Holdings Inc., Stanley Healthcare, Cornell Communications, Inc., Azure Healthcare Ltd., Jeron Electronic Systems Inc., Critical Alert Systems LLC, Vigil Health Solutions Inc., and Tyco SimplexGrinnell.
The degree of fragmentation of the global nurse call systems market is unlikely to lessen over the coming years, as the market’s steady and robust growth rate and relatively low initial capital requirements have made it easy for new entrants to claim a sizeable share in the market. This is expected to make the nurse call systems market increasingly competitive in the coming years, boosting the bargaining power of buyers.
According to Transparency Market Research (TMR), the revenue of the global nurse call systems market is expected to reach US$984.5 mn by the end of 2016 and further rise to close to US$1.6 bn by the end of 2020.
North America to Remain Dominant Regional Market due to Steady Adoption of Healthcare Advances
North America is likely to remain the leading contributor to the global nurse call systems market through the 2014-2020 forecast period. This is primarily due to the strong government and public support to the adoption of progressive healthcare advances, which has enabled steady investment in the healthcare sector. The North America nurse call systems market is expected to be valued at US$622 mn by the end of 2020. However, the flourishing healthcare sector in Asia Pacific is expected to enable rapid growth of the regional market: the Asia Pacific nurse call systems market is expected to exhibit a robust CAGR of 17.6% between 2014 and 2020.
By equipment type, the nurse call integrated communication systems segment is likely to remain the leading revenue generator for the global nurse call systems market in the coming years. While nurse call buttons, intercoms, and mobile systems are all gaining widespread adoption, with the nurse call mobile systems segment expected to exhibit a strong 17.1% CAGR in the 2014-2020 forecast period, the comprehensive nature of nurse call integrated communication systems is likely to ensure steady demand in the coming years.
By communication technology, wired communication equipment is likely to remain the dominant market segment due to its earlier installation. Despite this, the higher convenience of the wireless communication equipment segment has resulted in a growing demand for the same, with a CAGR of 16.8% expected of the segment between 2014 and 2020.
Rising Geriatric Demographic to Enable Steady Demand for Nurse Call Systems
The key driver for the global nurse call systems market is the expanding global geriatric demographic. Due to the heightened healthcare needs of the elderly, their medical needs have also become a key focus in the healthcare budget of several countries. This is likely to remain a key driver for the global nurse call systems market in the coming years, as the standards of living are being actively improved by governments across the world.
The rising need for a comprehensive and efficient communication system within the healthcare sector has also become a key driver for the global nurse call systems market. This has enabled a steady influx of investment in the healthcare sector across the world and is thus likely to remain a leading driver in the coming years.
On the other hand, the rising number of governments classifying nurse call systems as medical equipment has made their testing process longer, more cumbersome, and more expensive. This has emerged as the key restraint on the global nurse call systems market.
The information in this preview comes from a Transparency Market Research (TMR) report titled ‘Nurse Call Systems Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020.’
The global nurse call systems market is segmented as follows:
Nurse Call Systems Market, by Equipment Type
- Nurse Call Buttons
- Nurse Call Intercoms
- Nurse Call Mobile Systems
- Nurse Call Integrated Communication Systems
Nurse Call Systems Market, by Communication Technology
- Wired Communication Equipment
- Wireless Communication Equipment
Nurse Call Systems Market, by End-use
- OPD Clinics
- Assisted Living Centers
- Ambulatory Services
Nurse Call Systems Market, by Geography
- North America
- Asia Pacific
- Rest of the World (RoW)
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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