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Nurse Call System Market Size, Trend, Demand, Growth, Revenue and Industry Forecast to 2023
The global nurse call system market is anticipated to exhibit a CAGR of 9.5% during the forecast period (2018-2023)
Nurse Call System Market Overview
The global nurse call system market is anticipated to exhibit a CAGR of 9.5% during the forecast period (2018-2023). The large pool of geriatric patients who require assistance or patients in assisted living centers are two of the biggest drivers of the market. These systems can alert nurses in case of emergencies to provide immediate care and assistance. Expansion of hospital chains to cater to the large patient volume as well as to simplify their operations can spur the demand for nurse call systems.
The transition to mobile applications and the shift towards digitization by hospitals can positively influence the global nurse call system market. Considerable investments by governments for enhancing the existing hospital infrastructure as well as introduction of reimbursement schemes can bode well for the market. For instance, nearly 49 million elderly patients in the U.S. were covered by Medicare. The integration of these systems with wireless connections can disrupt the market growth positively.
High installation costs of these systems and stringent government policies can pose a challenge to the market growth.
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Honeywell International Inc., CSINC, Systems Technologies, Jeron Electronic Systems Inc., West-Com Nurse Call System, Inc, AMETEK, Inc., Cornell Communications, Azure Healthcare, Hill-Rom Services Inc., Austco Communication Systems Pty Ltd., BEC Integrated Solutions, LLC, Ascom, STANLEY Healthcare, Vigil Health Solutions Inc., and Johnson Controls are prominent names in the global nurse call system market. Partnerships and agreements are major strategies incorporated by players in expanding their footprint globally. This is exemplified by the partnership between Ideacom Mid-America and Austco Marketing & Service (US) in 2018 for providing support and distribution of nurse call systems. Although product differentiation in minimal, the players aim to get the attention of their clients with novel designs and changes in application software.
Segments for Global Nurse Call System Market
The Global Nurse Call System Market is segmented by type, technology, application, and end-user.
By type, it is segmented into nurse call intercoms, nurse call buttons, nurse call mobile systems, nurse call integrated communication systems, and others.
By technology, it is segmented into wireless and wired systems.
By application, it is segmented into work flow management, medical emergency, alarms, and others.
By end-user, it is segmented into ambulatory care systems, assisted living centers, hospitals & nursing homes, and others. Hospitals & nursing homes are expected to continue their dominance in the global market due to the emergence of new hospitals in rural areas. In addition, upgradation of legacy infrastructure as well as new business plans by hospitals in increasing their revenue can bode well for the segment. On the other hand, the assisted living centers segment is projected to exhibit the fastest growth rate during the forecast period due to the expanding numbers of the geriatric populace being shifted to these centers.
Regional Analysis for Global Nurse Call System Market
The Middle East & Africa (MEA), Europe, Asia Pacific (APAC), and North America are the main regions considered during the compilation of the market report.
The Americas are pegged to be the dominant region in the global nurse call system market due to the constant upgrades in technologies as well as the launch of new products. The large geriatric populace and the ballooned healthcare funding provided for well-being of patients by developed economies of Canada and the U.S. can augur well for the region.
Europe is deemed to contribute a sizeable amount to the global market revenue earnings due to the large patient pool and a well-developed healthcare sector. On the other hand, APAC is expected to exhibit a robust growth rate due to the developed healthcare infrastructure of economies and the large aged populace.
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