CHICAGO, April 2, 2024 /PRNewswire/ -- Nurse Call Systems Market [https://www.marketsandmarkets.com/Market-Reports/nurse-call-system-market-230909048.html?utm_source=Prnewswire&utm_medium=referral&utm_campaign=paidpr] in terms of revenue was estimated to be worth $2.5 billion in 2024 and is poised to reach $4.0 billion by 2029, growing at a CAGR of 10.2% from 2024 to 2029 according to a new report by MarketsandMarkets(TM).
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In recent years, there has been substantial growth in the nurse call systems market, driven primarily by the cost-saving advantages they offer across diverse healthcare settings and rising focus on advanced patient care. These systems facilitate streamlined and personalized communication among patients, clinicians, and caregivers, leading to enhanced patient satisfaction and improved care quality. Nurse call systems are designed to aid bedside caregivers and nurse leaders in reducing false and actionable alarms, thereby enhancing the efficient utilization of monitoring tools. such as monitors, infusion pumps, and ventilators. These solutions significantly enhance the quality and precision of care, improve patient experiences, streamline clinical workflows, and shorten response times. The advent of intelligent digital devices has simplified nursing workflows by enabling intra- and inter-team communication, as well as patient-triggered calls. These advantages have made nurse call systems an essential component of a hospital's communication infrastructure, thereby boosting the demand and adoption of these systems.
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Browse in-depth TOC on "Nurse Call Systems Market"
374 - Tables
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302 - Pages
Nurse Call Systems Market Scope:
Report Coverage Details Market Revenue in 2024 $2.5 billion Estimated Value by 2029 $4.0 billion Growth Rate Poised to grow at a CAGR of 10.2% Market Size Available for 2022-2029 Forecast Period 2024-2029 Forecast Units Value (USD Billion) Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends Segments Covered Type, Technology, Application and End User Geographies Covered North America, Europe, Asia Pacific, Latin America, the Middle East & Africa, and GCC countries Report Highlights Updated financial information / product portfolio of players Key Market Opportunities Emerging countries Key Market Drivers Ease of communication and diverse applications of nurse call systems
In 2023, the button-based systems segment held the largest share of the nurse call systems market by type segment.
Based on type, the nurse call systems market has been segmented into button-based systems, integrated communication systems, mobile systems, and intercom systems. The button-based systems segment accounted for the largest share of this market in 2023. the largest market share of button-based nurse call systems can be attributed to their simplicity, reliability, and cost-effectiveness. These systems offer a straightforward way for patients to request assistance, ensure quick response times for caregivers, are known for their durability, and are affordable for healthcare facilities of varying sizes.
The wired communication technology segment held the largest share of the nurse call systems market by technology segment in 2023.
Based on technology, the nurse call systems market is segmented into wired nurse call systems and wireless nurse call systems. The largest portion of this market was held by the wired communication technology segment in 2023. This significant share is primarily wired nurse call systems are often preferred for their stability and consistent performance in healthcare settings, where reliability is crucial for patient care. These systems offer a robust communication infrastructure that can handle the demands of hospitals and other healthcare facilities efficiently.
North America is the largest regional market for nurse call systems market.
The markets for nurse call systems has been divided into six key geographical regions: North America, Europe, Asia Pacific, Latin America, the Middle East & Africa, and GCC countries. In 2023, Asia Pacific held the highest growth rate of the nurse call systems market. The significant Asia Pacific market share can be attributed to several factors. Firstly, there is a growing geriatric population in the region, leading to an increased need for healthcare services and systems like nurse call systems. Additionally, favorable government initiatives and regulations support the adoption of these systems. Furthermore, the presence of major manufacturers in. North America contributes to the market's growth, as it enhances accessibility and awareness of nurse call systems in the region. This, coupled with the rising awareness and demand for nurse call systems among healthcare providers and facilities, solidifies North America's position as a key market for these systems.
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Nurse Call Systems Market Dynamics:
Drivers:
1. Rising geriatric population and increasing prevalence of chronic diseases
2. Increasing technological advancements in nurse call systems
3. Growing focus on cost containment in healthcare delivery
Restraints:
1. High probability of false alarms to restrain optimal functioning
Opportunities:
1. Improvements in healthcare infrastructure across emerging economies
2. Rising expenditure on advanced healthcare services
Challenge:
1. Challenges associated with integration and interoperability
2. Stringent regulatory guidelines for product approval
Key Market Players of Nurse Call Systems Industry:
The major players operating in this market are Ametek, Inc. (US), Baxter International, Inc. (US), ASCOM Holdings AG (Switzerland), Johnson Controls (US), Siemens AG (Germany), Austco Healthcare (Australia), Securitas Healthcare (US).
The break-up of the profile of primary participants in the nurse call systems market:
-- By Company Type: Tier 1 - 40%, Tier 2 - 30%, and Tier 3 - 30%
-- By Designation: C-level - 27%, D-level - 18%, and Others - 55%
-- By Region: North America - 42%, Europe - 31%, Asia Pacific - 20%, Latin
America - 4%, Middle East & Africa- 2%, and GCC Countries - 1%
Recent Developments of Nurse Call Systems Industry:
-- In August 2023, ASCOM (Switzerland) launched Myco 4 smartphone for
clinical institutions and enterprises which provides effective
communication, better coordination and improved efficiency.
-- In September 2021, Ametek, Inc. (Rauland-Borg Corporation) (US) launched
Telecenter U network-based building communications system for the acute
care environment.
-- In December 2021, Baxter International, Inc. (US) acquired Hill-Rom
Holdings, Inc. (US). The acquisition is expected to enhance each
company's digital offering.
-- In February 2024, Austco Healthcare announced partnership with Aamal
Medical to improve healthcare outcomes and bring cutting-edge patient
care to market.
-- In July 2022, Securitas Healthcare (US) acquired the Electronic Security
Solutions business from Stanley Black & Decker Inc. ("STANLEY Security")
to position itself as an outstanding global security and safety partner
that helps make the world a safer place.
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Nurse Call Systems Market - Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall nurse call systems market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, opportunities, and challenges.
The report provides insights on the following pointers:
-- Analysis of key drivers (Rising geriatric population and increasing
prevalence of chronic diseases, rising geriatric population and
increasing prevalence of chronic diseases, growing focus on cost
containment in healthcare delivery), opportunities (Improving healthcare
infrastructure across emerging economies rising expenditure on advanced
healthcare services), restraints (Growing focus on cost containment in
healthcare delivery), and challenges (Challenges associated with
integration and interoperability, stringent regulatory process for
product approval) influencing the growth of the nurse call systems
market.
-- Product Development/Innovation: Detailed insights on upcoming
technologies, research & development activities, and new product
launches in the nurse call systems market.
-- Market Development: Comprehensive information about lucrative markets -
the report analyses the nurse call systems market across varied regions.
-- Market Diversification: Exhaustive information about new products,
untapped geographies, recent developments, and investments in the nurse
call systems market
-- Competitive Assessment: In-depth assessment of market shares, growth
strategies, product offerings of leading players like Ametek, Inc. (US),
Baxter International, Inc. (US), ASCOM Holdings AG(Switzerland), Johnson
Controls (US), Securitas Healthcare (US).
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