The Nurse Call system market to grow at a CAGR of 12.% during the forecast period 2017–2023 to aggregate $2.7 billion by 2023
The factors such as rise in prevalence of chronic disorders, improve patient safety and eadicate medcal errors, focus on better performance and cost reduction, rise in demand of assisted living, and increase geriatric population, and technological advancements are expected to drive the market growth during the forecast period.
BANGALORE, India – December 28, 2017: Infoholic Research LLP, a global market research and consulting company, has published a study titled “Global Nurse Call System Market: Drivers, Opportunities, Trends, and Forecasts: 2017–2023” (May 2017).
According to Infoholic Research, the advent of new innovative nurse call system and the emergence of newer nurse call systems will boost the growth of the Nurse Call Systems market in the coming years. Nurse call systems have shown superior efficacy and high successful rates in many healthcare facilities. This will increase the adoption of nurse call systems and fuel the market growth. Despite advances and launch of new innovative products, a significant unmet need still exists in the low-income countries as they do not have access to basic healthcare facilities. However, the government is taking initiatives to improve healthcare standards, and companies are creating awareness programs to offer effective treatment especially in the emerging markets.
The market is also contributed by growing need of mobile integration of medical devices with cost-effective technologies, which represent an opportunity for making communication easy and more accessible to both patient and nurses. The growing demand for integrated and wirlesss nurse call systems is likely to increase the adoption rates of advanced nurse call systems in the market. The “Global Nurse Call System Market” is expected to grow at a CAGR of 12.7% during the forecast period 2017–2023 to touch an aggregate of $2.7 billion by 2023.
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The market is analyzed based on three segments – product types, end-users, and regions. The regions covered in the report are the North America, Europe, Asia Pacific, and ROW. In the Americas, the US and Canada are set to be the leading countries. Europe is set to be the second leading region with more than 28.01% of the market share in 2016. Germany is one of the leading countries in Europe in terms of revenue. In Asia Pacific, India and China are the most attractive countries for the players and holds huge business opportunities. The other low-income countries such as Thailand, Vietnam, and Indonesia are set to be the emerging markets in the next 5–6 years.
The product areas covered in the report are: Integrated nurse call systems, wireless nurse call systems, basic audio/visual nurse call systems, and intercoms nurse call systems. Integrated and wireless are expected to gain more market share by 2023 due to increasing technological advancement in devices and mobile integration of devices. Integrated nurse call systems accounted for the maximum share of 35% in the Global Nurse Call System market followed by wireless nurse call system and basic audio/visual nurse call systems in 2016. The high cost of implementation, especially in the developing countries, represents the major challenge for the growth of Global Nurse Call System market.
“Nurse call systems are the most advanced telecommunication devices used for two-way communication among patients and various staff members of various healthcare facilities. Rise in chronic and aging population is owing to increase admission of patients. The market is competitive and is highly dynamic with vendors adopting creative strategies to develop innovative products to ensure product differentiation in the market. Nurse call systems are used in assisted living centres, homecare, and other sophisticated healthcare facilities to gain high medical care and offer quality service to patients globally. “
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Further, the report also aims to cover the below points:
- 1. Provides an in-depth analysis of the key business opportunities in countries and verticals
- 2. Provides the complete details about the analysis of top 15 players
- 3. Provides industry outlook including current and future market trends, drivers, restraints, and emerging technologies