Nurse Call System is a communication system used in healthcare facilities to alert nurses in cases of medical emergencies and the need for care. These systems are also useful for tracking a patient, especially in the care home or old age centers and can also be used to give instructions and notifications during the events of ambulatory services. Rapidly growing population and prevalent diseases & disorders, worldwide demand advanced medical infrastructures such as assisted living centers.
Besides, large hospitals & clinics that are often confronted with the complexities of the operations prompt the demand for effective nurse call systems provide smooth care services. As a result, the nurse call system market is growing rapidly on a global platform, witnessing a constant product demand. According to a leading research firm - Market Research Future (MRFR), the global nurse call system market is expected to gain significant accruals by 2023.
In its recently published study, MRFR also asserts that the market would register a CAGR over 9.5 % throughout the forecast period (2018 – 2023). The emergence of rapidly evolving IoT (internet of things) in the field of wired & wireless technology is predominantly driving market growth. Additionally, other factors that contribute to market growth include increasing geriatric population, urbanization, and improving economic situations in the countries across the globe.
The market is growing due to the proliferation of cloud & IoT devices. Advancements in network & connectivity technologies are fostering the growth of the market, increasingly bringing down prices of these devices. The negligible cost of scalability of communication is providing impetus to the growth of the market to an extent.
Conversely, high costs associated with the installation & maintenance and lack of awareness towards benefits of these nurse call systems are impeding the growth of the market. Also, concerns of privacy and data breaches due to the open nature of the network are key factors obstructing the market growth.
Segments:
To generate an accurate assessment of the differential market potential, the Nurse Call System Market is divided by type, technology, applications and end users.
Type - basic buttons alert systems, audio/visual nurse call systems, integrated communication systems, mobile systems, others.
Technology - wired systems and wireless systems, application (medical emergency, alarms, workflow management and others.
Application - medical emergency, alarms, workflow management and others.
End user - hospitals and clinics, assisted living centers, ambulatory, and other.
Future Market Trends:
The triumph of wireless systems over wired systems!
Wireless systems are expected to eliminate wired systems, a trend that has been witnessed in the past and which is very much prevalent in present communication technology.
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Extended functionality
Extended functionality owing to technological convergence is ubiquitous in every segment of information technology and electronics industry and the nurse call systems market is no exception to this trend.
Market Dynamics:
Drivers
The demographic drivers of the market are the growth in elderly, growing chronic diseases, growing number of widowed or separated people, growing per capita income, growing assisted living centers and others.
The operational drivers include the growing complexity of hospital operations, the low flexibility of demand of the operations, growing regulations, prohibitive costs of noncompliance and others.
Technological drivers of the market include growing connectivity such as coverage of network and mobility, falling cost of devices, negligible cost of scalability of communication technology and others.
Restraints
The market constraints are high installation and maintenance costs, lack of awareness and scarcity of trained manpower, concerns of information security due to open nature of the network, and others.
Regional analysis:
North America led by the U.S. commands the largest market share due to the well-developed healthcare infrastructure, faster uptake of new technology, large number of hospitals and high per capita income and others.
North America is anticipated to withhold a market share by value of approximate 40 % in 2016 followed by Europe with a share of over 30 %.
Asia Pacific region is estimated to grow at the fastest CAGR led by Japan, china, India and South Korea. The market of the Middle East & African region, is expected to be heavily skewed in favour of the Gulf economies of Saudi Arabia, UAE and others. Africa is expected to foresee moderate growth due to poor connectivity and economic reasons.
Prominent players:
The prominent players in the market are Ascom Holding AG, Tyco International PLC, CSINC, Austco Communication Systems Pty Ltd., Hill-Rom Holdings, Inc., Honeywell International, Inc., and others.
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
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