Positive Impact of COVID-19, Nurse Call Systems Market Estimate To Hit USD 1,972 Million, At a CAGR of 8.5%
Pune, Maharashtra, India, September 10 2020 (Wiredrelease) Allied Analytics –:The Nurse Call Systems Market was valued at $ 1,114 million in 2016, and is projected to reach at $ 1,972 million by 2023, growing at a CAGR of 8.5% from 2017 to 2023. The wired nurse call systems segment accounted for more than four-sevenths share of the total market in 2016.
Nurse call system is a type of alarm system used in hospitals for alerting nurses in case a patient needs assistance. These systems have reduced waiting time for patients, provide hotel like caretaking experience, and enable nurses to focus on patient care. In addition, constant technological developments, large pool of geriatric population, rise in incidence & prevalence of chronic diseases, and increase in government healthcare expenditure globally drive the market growth. However, stringent government regulations are expected to restrain the market growth during the forecast period.
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Based on technology, the wired systems market segment held the highest share in 2016, owing to the less complexity, high reliability to setup wired nurse call systems, and low maintenance compared to wireless nurse call systems.
Based on equipment, the integration communication systems held the highest market share in 2016, owing to the increasing investments in hospitals and advance technology; however, mobile systems are easy to use and are more preferred by consumers and have witnessed the highest CAGR.
Based on application, the emergency medical alarms segment contributes to the highest market share in 2016, owing to the quick response assistance in case of emergency.
Based on end-users, the hospitals segment accounted for the highest market share in 2016, owing to the increase in number of hospitals worldwide and rise in government expenditure in healthcare sectors.
North America accounted for more than two-fifths share in 2016, and is expected to dominate the market throughout the forecast period and is attributed to increase in incidence of chronic diseases due to rise in geriatric population and well-established healthcare systems. In addition, lucrative growth opportunities in the emerging countries is anticipated to provide new growth opportunities for the key players in the market. However, Asia-Pacific is estimated to register the highest growth rate during the forecast period, owing to rise in healthcare expenditure, increase in per capita income, growth in demand for healthcare devices from large pool of patient population, and improvement in healthcare infrastructure.
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Key Findings of the Nurse Call Systems Market
The wired segment dominated the market in 2016, and is projected to grow at the 8.1% CAGR. The integration communication system segment accounted for the highest share of three-seventh in 2016. The U.S. was the major shareholder of the North America nurse call systems market in 2016. Asia- Pacific is expected to show the highest growth rate during the analysis period. China is expected to grow at the highest CAGR in the Asia- Pacific nurse call system market.
The major players profiled in the global nurse call systems market are Ascom Holding AG, Hill-Rom dings, Inc., Johnson Control, Honeywell International, Inc., Cornell Communications Inc., Ametek Inc., Azure Healthcare Limited, Jeron Electronic System Inc., Courtney Thorne, and Elektra Hellas S.A. among others.
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