Global Nurse Call Systems Market: Snapshot
The increasing technological advancements in the field of nurse call systems, along with rising awareness about their availability, are expected to broaden the prospects of the nurse call systems market. As per the findings of the U.S. Department of Health and Human Services, approximately 60% of the nursing staff in the U.S was aged 50 years or above in 2012. This conveys the imperative need for effective communication systems, as these systems save time and efforts, thereby increasing responsiveness and efficiency of nursing activities.
Factors such as increasing geriatric population across the globe, decreasing fertility rates, and declining mortality rate are some of the key market drivers. Furthermore, the necessity for more efficient and responsive healthcare communication systems is felt worldwide, contributing towards market expansion. The increasing budget allocation for healthcare of the aged population is also likely to boost growth. On the other hand, the market might face restrictions on account of stringent regulatory policies pertaining to the approval of these systems. However, the global nurse call systems will continue to flourish because of technological advancements in the information and communication technology (ICT) sector.
Expanding at a CAGR of 13.9% during the forecast period of 2014 to 2020, the global market for nurse call systems is projected to attain a revenue worth US$1.5 bn by the end of 2020.
Significant Growth Opportunities Presented by Emerging Economies
Based on geography, the global market for nurse call systems is broadly categorized into Europe, Asia Pacific, North America, and the Rest of the World (RoW). North America leads the global market for nurse call systems in terms of revenue because of their extensive deployment in the healthcare sector. This regional market is projected to grow at a CAGR of 14.4% between 2014 and 2020, reaching US$622.0 mn by the end of the forecast period. Europe comes in second, closely followed by Asia Pacific. Demographic changes in Europe, along with increased adoption of nurse call systems in healthcare, are the key growth drivers of this regional market.
Asia Pacific is slated to present expansive opportunities over the next few years. The countries of Japan, New Zealand, Australia, and Singapore are somewhat saturated, whereas China and India promise greater expansion. These emerging markets are driven by factors such as emergence of numerous local solution providers, coupled with the unmet needs of the increasing geriatric population in these nations. The regions of Africa and Latin America are also projected to display substantial growth.
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Wireless Communication Equipment to Witness Upsurge in Demand
The global nurse call systems market is segmented on the basis of equipment, end user, communication technology, and geography. By end use, the market is segmented into OPD clinics, hospitals, ambulatory services, and assisted living centers. Nurse call mobile systems, nurse call buttons, nurse call intercoms, and nurse call integrated communication systems are the key segments by equipment type. On the basis of communication technology, wired and wireless communication equipment are the two major segments. Of these, wired communication systems form the leading segment. However, wireless nurse call communication systems are expected to witness significant growth. The rising demand for wireless nurse call communication systems can be attributed to the greater amount of flexibility and mobility they offer.
Some of the major companies operating in the global market for nurse call systems are Azure Healthcare Limited, Vigil Health Solutions, Inc., Rauland-Borg Corporation, Stanley Healthcare Solutions, Cornell Communications, Inc., Critical Alert Systems LLC, TekTone Sound & Signal Mfg., Hill-Rom Holdings, Inc., Jeron Electronisc Systems, and Ascom Holding AG.