Report Sellers has added a new market research report “Global Nurse Calling Systems Market Trends and Drivers, Restraints, and Opportunities 2017-2023” to its offerings. The report is an in-depth market study providing accurate market insights including the latest trends, forecast, competitive insights, etc.
Market Analysis: The Global Nurse Call Systems Market is estimated to witness a CAGR of 12.7% during the forecast period 2017-2023. The Nurse Call Systems market is analyzed based on three segments – product type, end-users, and regions.
Product Analysis: The Global Nurse Call Systems Market segments include Integrated nurse call systems, wireless nurse call systems, basic audio/visual nurse call systems, and intercoms nurse call systems. Integrated nurse call systems is dominating the market and has most innovative andamong the fastest growing products in the global nurse call systems market. This segment is expected to grow at CAGR 13.1% during the forecast period. The basic audio/visual nurse call systems is widely accepted in most of the developed countries and have strong hold of Tier II and Tier III hospitals gobally. Opportunities for growth in the emerging countries of LATAM and APAC remain vast. Increasing adoption of wireless nurse call systems in tier I or multispecialty hospitals, particularly in developed countries and the growing availability of nurse call systems contribute to the growth of the market.
Regional Analysis: Europe accounted for the second largest market with advancement in healthcare facilities and chronic disorders being one of the rising burden for hospitalization of individuals. In 2015, the public spending on healthcare in Europe amounted to 18% of the overall government expenditure. In Middle East and Sub-Saharan Africa, the mortality rate due to stroke is expected to triple in the next few years and is expected to lead to increased hospitalization and permanent disabilities. Europe is considered one of the largest markets for advancement in technologies and is likely to have highest investment in IT integration to create smart deliverables. The government initiatives, standard healthcare infrastructure, increased focus on healthcare expenditure have made the UK, Germany, France, Italy, Spain, and France to offer quality health. Further, nursing homes and many other healthcare facilities are focused in improvising the communication by adopting nurse call systems. Further, the increased strategic alliances between local and regional companies will have strong impact on the demand and sales of nurse call systems.
The APAC neurosurgical devices market revenue is expected to reach $540.5 million by 2023, growing at a CAGR of 17.5% during the forecast period 2016-2023. The factors such as high prevalence of chronic diseases, presence of a large pool of patients, increase in disposable income, and rise in awareness about nurse call systems are owing to a substantial growth in various healthcare facilities in this region. APAC is witnessing a rapid growth in the healthcare industry. The emerging countries such as India and China are majorly focusing to improve their healthcare infrastructure and the governments have taken initiatives to develop the healthcare facilities in both urban and rural areas. The increased demand for better services among patients and the increased life expectancy in this region is expected to boost the IT investment in the region. Also, the increase in government spending in healthcare, infrastructure, research centers, and the establishment of manufacturing facilities by major vendors are influencing high growth in the market.
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Key Players: Azure Healthcare Ltd., Ascom Holding AG, Cornell, Hill-Rom Holding, Inc, and other predominate & niche players.
Competitive Analysis: At present, the market is dominated by integrated nurse call systems having the maximum number of sales in the market. Vendors are focusing on investing a huge amount in R&D activities to develop new innovative products in the market with newer application to offer novel devices. Most of the vendors in the market are focused on expanding their business by mergers & acquisitions, through partnerships, and trade shows. Big players such as Azure Healthcare Ltd., Ascom Holding AG, Cornell, and Hill-Rom Holding, Inc. along with the collaboration with hospitals, ASCs, and other healthcare facilities is expected to increase the demand of nurse call systems in the market, which are expected to grow tremendously during the forecast period. Significant investments in R&D and increasing awareness about wireless/mobile nurse call systems in the market are expected to boost the market growth.
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