Nurse Call Systems Market Sales Competition By Price, Revenue, Gross Margin and Market Share, Forecasting 2023 with Key Players : Courtney Thorne, Fresenius SE & Co. KGaA, Baxter International and More
Wired nurse call systems occupied the highest share of the market in 2016, and is expected to maintain the lead during the forecast period. However, the wireless nurse call systems accounted for the high CAGR, owing to the increase in demand for flexible and mobility of communication
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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.
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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