As per the TMR report, the global nurse call systems market is anticipated to be worth US$2.6 bn by the end of 2025. The market is presumed to expand with 10.9% CAGR within the forecast period of 2017 to 2025. On the basis of end users, the hospitals segment is projected to be dominating the market because of the higher adoption and patient-centric approach that hospitals provide these days. Based on communication technology, the segment with wired communication is expected to be contributing larger shares as compared to the other segment.
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Increasing Geriatric Population to Stimulate Market Growth
The global nurse call systems market is subjugated by the regions of Europe, North America, Asia Pacific, Latin America and Middle East and Africa. Among these, North America is expected to contribute larger shares of revenue to the overall market. This is due to the higher number of elderly population residing in the area who are more prone to fall ill and hence get hospitalized. Apart from that, the developing nations of China, Japan, Australia, New Zealand and India of Asia Pacific region are adopting wired and secure nurse call solutions in acute care nursing facility in order to gain more revenue in the market. Adding to that, improved access and healthcare infrastructure along with mobility and flexibility of the wireless communications are further presumed to fuel the growth of the nurse call systems market in the Asia Pacific region in the future years.
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Some of the important factors expected to drive the growth of the nurse call systems market are increase in the number of geriatric population, technological advancements and the prevalence of chronic infections as well. Apart from that government support for innovative advancement that helps in advanced consumer care is also seen to be supportive of the global nurse call systems market in terms of earning revenue. Upcoming technologies like remote telephone integration within the hospital premises, nurse contribution expansion and interoperable designs are also among important factors to fuel the demand for nurse call system in the global market.
Lack of Skilled Professionals to Hamper Market Growth
The challenges related to integration and interoperability and increased cost implementation may act as a hindrance to the global nurse call systems market. Besides that, the lack of skilled IT and healthcare professionals and strict regulations laid down by the government are also expected to hamper the overall growth of the market.
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In a recent report by Transparency Market Research (TMR), the vendor landscape of the global nurse call systems market is prophesied to be registering substantial growth in the coming years owing to the popularity of medical insurance especially in the developing countries of Asia Pacific like China and India. Besides that, there has also been a noticeable growth in the healthcare expenses as well as product upgradation that may gain traction in the overall nurse call systems market in the long run.
Some of the leading players of the global nurse calling systems market are TekTone Sound & Signal Mfg., Inc, Hill-Rom Holdings, Inc., Azure Healthcare Ltd., Ascom Holding AG, and Cornell Communications. Major players are putting their reliance on present day innovations so as to stand unique from the other players. To improve product portfolio, various companies are adopting merger and acquisition strategies, and getting into partnership with other companies in order to strengthen their hold in the overall market and expand their business in the future years.
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The information presented in this review is based on a TMR report titled, ‘Nurse Call Systems Market (Equipment – Nurse Call Intercoms, Basic Audio/Visual Nurse Call Systems, Digital Nurse Call Systems, IP-based Nurse Call Systems, and Nurse Call Mobile Systems; Communication Technology – Wireless Communication and Wired Communication; End-user: Hospitals, Assisted Living Centers, Nursing Homes, and Clinics) – Global Industry Analysis, Size, Share, Volume, Growth, Trends, and Forecast 2017 – 2025′.
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ALBANY, New York, October 8, 2018 /PRNewswire/ —