Due to the increasing demand for mobility in healthcare system vendors are focusing towards the launch of higher level of integrated nurse call systems, finds Transparency Market Research. Some of the prominent players operating in the global nurse call system market are Azure Healthcare Ltd., TekTone Sound & Signal Mfg., Inc., Hill-Rom Holdings, Inc., Ascom Holding AG, Rauland-Borg Corporation, Tyco SimplexGrinnell, STANLEY Healthcare and Vigil Health Solutions, Inc.
The competitive landscape of the nurse call systems market is highly fragmented with the presence of various small and mid-sized players in the market. A few of the industry players are ramping their investments to offer advanced equipment, in which patient data can be easily stored and retrieved.
This can be attributed by the fact that in February 2015, Rauland Borg Corporation, a leading market player launched a device called AllTouch responder, with electronic medical records system that can store patient’s data.
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According to a report by TMR, the nurse call systems market is anticipated to grow at an astonishing 10.9% CAGR from 2017 to 2025. Rising at this CAGR, the market is expected to touch a valuation of US$2,665.98 mn by the end of forecast period.
Geographically, North America dominated the nurse call system market in 2016. The same region is expected to lead the global market in forecast period as well. This is mainly because of the presence of the well-established healthcare system and the high adoption of digital healthcare in the region, such as Medicare. Based on communication technology, the wireless nurse call systems segment is gaining popularity owing to the ease and comfort in operating. Due to this, the segment is expected to have a largest market share in the forecast period because of the rising awareness regarding wireless nurse call systems.
Increasing Investment in Healthcare Industry to augment growth
The nurse call system market is expected to witness a substantial growth in the coming years. This is mainly because of the factors such as increasing need for digital healthcare, a rise in the number of hospitals adopting nurse call system, growing investments from the public and private sectors in digital healthcare systems, and technological advancement in nurse call systems.
Nurse call system are set of devices used in the health care industry which help patients call hospital staff at the time of emergency. This helping hospital units to offer better services to patients.
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A part from this, noticeable trend in the nurse call system market is increasing shift from analog stand-alone to digital and networked IP-based solutions. As these systems offer more intuitive and easy-to-use options to handle patient requests and emergency situations. The increasing demand for digital and network ip based solutions is another factor expected to fuel the global nurse call systems market in the coming years.
Incompetency of Healthcare Staff to Use Technology Based System to Impede Growth
Despite several drivers, growth in the global nurse call systems market is likely to hamper due to the factors like high implementation costs and incompetency of healthcare staff to operate advanced technology.
Nevertheless, factors like growth in health care expenses and increasing popularity of medical insurance mainly in the developing economies such as India and China is expected to boost the nurse call systems market in the coming years.