ID: MRFR/HCIT/4176-HCR | February 2021 | Region: Global | 100 pages
The nurse call systems market is an upcoming market structure that has been forecasted to enjoy gigantic and vast growth in the market due to a variety of factors that have been responsible for the shift of demand of consumers towards this market.
The nurse call systems market is expected to grow at a CAGR of around 10.9% and is expected to reach a lifetime high value of around $2.5 billion by 2027. The market is expected to reap positive results from the Asia Pacific region where the demand for nurse call systems is expected to be high due to a large proportion of the young population residing in these countries and the increasing advancement in technology and development in healthcare sector. Moreover, the segment by application is expected to contribute maximum towards market share.
The rising number of health diseases and the increasing cases of deadly diseases have motivated the health care sector industries to manufacture such products and to provide for such facilities which are suitable to cater to the needs of each patient in the right manner. The nurse call systems market is one such facility that helps the patient to call for the help of nurses in case of any medical emergency and it also helps to track patients living particularly in old age centers or are living alone in far-off places and requiring medical help.
Nurse call systems are one such facility that are being used by several healthcare facilities in the forms of alarms, signals, sirens to alert the nurses in case of any emergency. The rapid improvement in the health sector and the ever-increasing advancement in technology have shifted the demand of people to well-developed health care systems and services.
COVID 19 Analysis:
The covid 19 pandemic has affected every market segment and even health care industries negatively by creating a havoc situation in the healthcare sector whereby the pressure on the healthcare systems and professionals grew haphazardly which led to the increase for the need for nurse call systems tools and equipment.
Therefore, it can be said that the demand for nurse call systems equipment rose in the covid pandemic. However, it would not be wrong to say that lack of infrastructures in most of the countries also disrupted the communication between nurses and patients which did not allow the healthcare professionals to focus more on the use of nurse call systems.
It is expected that post-covid when the restrictions are lifted and people find their way out to healthcare services for the treatment of other diseases as well, the demand for nurse call systems market would again pick up pace, and the market would also experience major growth.
The market has been experiencing a diversified growth in all segments and across different regions due to the rising populations and the increasing per capita incomes of people which has shifted the demands of people to highly sophisticated and technologically advanced products and equipment which have acted as a motivating factor to the market.
Secondly, ease in communication systems and diverse use of the nurse call systems have provided positive results in the health care sector where the patients can communicate easily with the hospital staff, doctors, caregivers, etc., and share any kind of problem that they might be facing easily. Thus, nurse call systems have become an integral part of several hospitals and clinics.
The overall growth in the nurse call systems market has been expediently rising but certain factors hinder the growth process of the market which include large sums of money to be invested initially in setting up of nurse call systems companies and thus it restricts various new players to enter the markets.
Another key factor that acts as a barrier towards an increase in nurse call systems market share is the stringent rules and regulations of the Government which bars the hospitals and clinics from making use of the nurse call systems effectively and efficiently since the Government intervention in the health care sector has been a major concern for various healthcare companies.
Another key restraint that has been observed off late is the high cost of the nurse call systems which bars most of the patients who are not aptly equipped with all the financial resources and also affects the nurse call systems market share since it cannot cater to the diverse variety of patients of different sections of the society.
The nurse call systems market trends have been dedicated towards the use of improved technology in the treatment process since the procedure for nurse call systems is based on highly scientific procedures and methods, it is usually carried on with the help of advanced tools and machines.
The use of advanced and rapid technologies for the benefit of old age adults and for the growing interest of the adults to provide for their health maintenance and health information management. The market logistics and infrastructures have allowed the healthcare sector to maintain a record of all its patients and provide medical help to them as and when it becomes necessary.
The technological system to be used shortly in the nurse call systems market involves using robotics and artificial intelligence systems to provide for the specific and timely location of the disease, to communicate with the patients effectively and regularly, and to also transfer valuable health-related information to the patients.
To analyze the trends that are prevalent in the nurse call systems market regions and players that will dominate the global trends and lead the market operations towards growth figures that have been predicted by the prominent leaders in the international market and key experts for the ongoing forecast period that ends in 2028.
To understand the scale of functioning of the market segments that are prevalent through their ability to meet the vibrant needs of the target audience for market products and services.
To draw a competitive scale amongst the global nurse call systems market players and to understand the recent developments of the key market players in the recent past that promise great results to the market for the ongoing forecast period and automotive refinish coating market trends that end in 2028.
The nurse call systems market has been segmented as follows:
The global nurse call systems market has been divided into five regions where each region has been contributing significantly in terms of its capabilities and population demands. However, among the five regions, the Asia Pacific region has been accounting for the major market share whereby the key drivers towards the growth of the nurse call systems industry are developed here, and the population seems to be quite interested in the innovations in terms of new products in the market.
The major nurse call systems market revenue is expected to come from countries like China, Japan, Korea, and India. The nurse call systems statistics indicate that the population along with the disposable incomes of people of these countries has been increasing which has led to shifts in lifestyles and changing demands. The shift of the people towards health awareness and increased government expenditure on healthcare facilities have contributed towards the growth of the market in this region.
The European region has also been experiencing major growth with contributions coming from developed nations such as France, Germany, Denmark, Belgium, etc. due to the improvements in healthcare facilities being made by the Government regularly and also the advancement in technology has driven the growth of the market in this region. The North American region is also experiencing vast growth in nurse call systems market shares as the countries in this region have been reaping the benefits of technology thereby maximizing the level of operations and reducing operational cost.
The competitive landscape in terms of the nurse call systems market has been immense and nail-biting with new players easily entering the market and the existing players making huge investments in this segment. Some of the key manufacturers in the market are:
The key players in the market are more focused on developing future strategies and set themselves as joint ventures to increase the nurse call systems market share and size.
Recently Ascom, a leading manufacturer of nurse call systems in Switzerland launched the Myco 3 smartphone which would enable the company to penetrate deeply into the nurse call systems market and also to cater to a large number of patients.
Recently, AMETEK Inc. acquired Rauland Borg for a whopping amount, and both the companies have now collaborated to work as a venture in the nurse call systems market. This collaboration would allow the acquiring company to get hold of various intellectual rights of the acquired company and also gain an advantage of the market base of the company.
Recently, Hill-Rom Holdings entered a collaboration with Aiva where the venture was focused on developing a voice-based hands-free communication device to be able to improve the communication between the patient and the caregiver, nurse calls, alert and alarm management, etc.
The Global report helps the investors to gain meaningful information about the market and make decisions wisely. The report discusses the steps taken by the market leaders to boost the market growth and inflate market valuation for their good. The report fully summarizes the ongoing market scenario in the nurse call systems market which would help the intended audience to seek more information about the market. The objective of the report was to fully summarize the key players in the market and their role in boosting the market value. The report also discusses the future growth prospects and the competitive landscape in the nurse call systems industry and lays down the expected growth rate of the market along with the hindrances it may face.
|Market Size||2027: USD 2.5 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Technology, Applications, And End-Users|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Austco Communication Systems Pty Ltd., Honeywell International Inc., Hill-Rom Services Inc., Ascom, Johnson Controls., CSINC, AMETEK, Inc., STANLEY Healthcare, West-Com Nurse Call System, Inc, Azure Healthcare, Cornell Communications, Jeron Electronic Systems Inc., Vigil Health Solutions Inc., BEC Integrated Solutions, LLC and Systems Technologies|
|Key Market Opportunities||
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
End user industries like assisted living centers, ambulatory care centers, hospitals & nursing homes, and others would trigger the global market for the nurse call system.
The North American market has maximum growth opportunities for the nurse call system market.
The Asia Pacific region would be growing with the fastest growth rate in the nurse call system market.
The nurse call system market has the chance to achieve a growth of 10.9% CAGR during the review period of 2020 to 2027.
The nurse call system market can be bogged down by the high installation cost.