A new Transparency Market Research report states that the global nurse call systems market stood at US$0.6 bn in 2013 and is anticipated to reach US$1.6 bn by 2020. It is expected to expand at a CAGR of 13.90% from 2014 to 2020. The title of the report is “Nurse Call Systems Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020.”
According to the report, factors such as the rising aging population and the growing need for responsive and efficient healthcare communication are amongst the major factors propelling the growth of the market for nurse call systems. In addition, the globally rising budget allocation in healthcare for elderly people is also a prime factor augmenting the growth of the market. In addition, the rise of the Internet of Things (IoT) within healthcare infrastructure has emerged as a key opportunity in the market. On the other hand, government regulations on distribution and manufacturing of nurse call systems are amongst the major factors impeding the growth of the market.
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In terms of equipment type, the market is segmented into nurse call intercoms, nurse call buttons, nurse call integrated communication systems, and nurse call mobile systems. Amongst these, the segment of nurse call integrated communication systems led the market in 2013. On the other hand, the segment of nurse call mobile systems is predicted to expand at the highest growth rate in the forecast horizon owing to the rising demand for mobile solutions.
On the basis of communication technology, the report segments the market into wireless communication equipment and wired communication equipment. Amongst these, wired nurse call communication equipment dominated the market for nurse call systems in 2013. On the other hand, the demand for wireless nurse call communication equipment is poised to rise in the forecast horizon owing to the rising demand for flexibility and mobility in communication.
On the basis of end use, the nurse call systems market is segmented into OPD clinics, hospitals, ambulatory services, and assisted living centers. Amongst these, in 2013, the segment of hospitals constituted a share of approximately 74% in the market on the basis of revenue. On the other hand, factors such as the requirement for effective communication systems and patient safety will raise the demand for nurse call systems within the segment of assisted living centers in the forecast horizon.
Geographically, the market is segmented into Europe, North America, Asia Pacific, and Rest of the World (RoW). Amongst these, in 2013, North America held the largest share in the market on the basis of revenue. This is due to the rising adoption of nurse call systems within this region in numerous healthcare settings. Europe trailed North America and stood as the second largest market for nurse call systems on the basis of revenue in the same year. However, the market for nurse call systems is poised to experience sluggish growth in this region in the coming years owing to slow economic growth.
The chief players dominant in the market are Rauland-Borg Corporation, Stanley Healthcare, Hill-Rom Holdings, Inc., Tyco SimplexGrinnell, Ascom Holding AG, Cornell Communications, Inc., Azure Healthcare Limited, Jeron Electronic Systems, Inc., and Vigil Health Solutions, Inc., among others.