Nurse Call System Market Scope
The global nurse call system market could register a CAGR of 9.5 % during the forecast period (2018-2023), suggests Market Research Future (MRFR).
Nurse Call System Market Growth Drivers and Key Barriers
The nurse call system has noted a radical move from analog stand-alone to digital IP-based solutions in the past couple of years. With the surge in demand for mobility, companies are striving to offer an upgraded version of integrated solutions. At present, nurses are demanding more intuitive and easy-to-use equipment with specialized options that can manage patient requests as well as any emergencies.
Over time, nurse call equipment has had a radical transformation due to improved patient monitoring. Staff members are now able to directly communicate with patients to provide the needed care, thereby bringing down the number of times they need to visit the patient beds. This has led to less fatigue and increased workflow efficiency among attendants, a factor which could benefit the market to a great extent.
The hike in need for highly integrated hospital platforms and the rising preference for mobile devices are projected to sit well with the future market growth. In addition, favorable reimbursement scenario could help the market growth in the coming years. The huge cost of installation could retard the market growth rate to some extent. On a different note, surging healthcare investments by the government along with the mounting demand for better technological advancements will ensure that the market has a smooth run during the conjectured time frame.
Market Research Future (MRFR) collected data on several factors including implications of COVID 19 Impact on Nurse Call System Market and demographic challenges, showed how it could move forward in the coming years.
Nurse Call System Market Segmentation
The worldwide market for nurse call system has been segmented on the basis of type, technology, applications, and end users.
The market, depending on the type, is considered for nurse call buttons, nurse call integrated communication systems, nurse call mobile systems, nurse call intercoms, and others.
The market, technology-wise, covers wired systems and wireless systems.
Application-based segments are medical emergency, alarms, workflow management, and others.
The end users highlighted in the report are hospitals & nursing homes, assisted living centers, ambulatory care centers, and others. Hospitals and nursing homes cover the most significant portion of the market, as the number of public and private hospitals is on the rise across the globe. Assisted living centers are the fastest expanding market because of the rising geriatric population combined with the mounting need for assisted living centers.
Nurse Call System Market Regional Insight
Taking a closer look at the region-wise segmentation, MRFR reports that Europe, Asia Pacific, Middle East & Africa and the Americas are the primary markets for nurse call system.
The Americas is touted to be the most lucrative nurse call system market with the surge in the number of regulatory reforms and the high reimbursement coverage. On this note, rising funds for updating hospitals with technology-driven nurse call systems augers well with the market growth. With the burgeoning population uplifting the demand for personal emergency response technologies, the regional market will get a significant boost in the following years. Also, the lavish budget has lifted the funds for the settlement of Internationally Educated Nurses (IENs) in Canada. With the support of all these efforts for improving nursing and offering an international degree of a platform for healthcare practices, the nursing alert systems market will note further success over the years ahead.
Europe secures the second spot in the global nurse call system market, as a result of a highly-developed healthcare industry combined with the expanding population of sick people in hospitals.
With the fastest growth rate in the global market, Asia Pacific benefits from a large number of nurses in the healthcare industry. Kaigo Hoken, a nursing care insurance law, was introduced in Japan in the year 2000, which resulted in the nursing homes turning into a major business with improved systems. Furthermore, the Singapore Ministry of Health expanded the long-term and acute care nursing homes in the country in 2016. As a result of the encouragement by the governments in the forms of funding and supportive laws for nursing homes, the regional market could expect to have excellent growth in the forthcoming years.
Lastly, Middle East & Africa show abysmal market growth with the least share. However, the regional market could get some respite from the developing healthcare industry in the near future.
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Nurse Call System Market Prominent Companies
Key industry contributors mentioned in the report include CSINC, AMETEK, Inc., Ascom, Johnson Controls., Vigil Health Solutions Inc., BEC Integrated Solutions, LLC, Hill-Rom Services Inc., Austco Communication Systems Pty Ltd., West-Com Nurse Call System, Inc, Cornell Communications, Azure Healthcare, STANLEY Healthcare, Systems Technologies, Jeron Electronic Systems Inc., Honeywell International Inc., among others.
Various partnerships, collaborations, and approvals are poised to uplift business opportunities within the market. Citing a reference, in December 2018, Ascom Holdings AG’ Digistat Smart Central software solution got approval from the U.S. Food and Drug Administration (FDA), which led to the company’s expansion in the market.