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Nurse Call Systems Market to Exhibit a CAGR of 9.2% | USD 2.5 billion by 2024

02-14-2020 01:49 PM CET | Health & Medicine

Press release from: MarketsandMarkets.com

Nurse Call Systems Market to Exhibit a CAGR of 9.2% | USD 2.5

The emerging economies such as India, China, and Brazil are expected to provide a wide range of opportunities for players in the market, which is driven by growing healthcare infrastructure, vast population pool, rising demand for quality care, and the increasing healthcare spending.

The global nurse call systems market is projected to reach USD 2.5 billion by 2024 from USD 1.6 billion in 2019, at a CAGR of 9.2% from 2019 to 2024.

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Increasing incidence of Alzheimer's disease and growing number of assisted living centers

Alzheimer's disease is a progressive disorder that causes brain cells to waste away (degenerate) and die. Also, it is the most common cause of dementia--a continuous decline in thinking, behavioral, and social skills that disrupt a person's ability to function independently.

It is estimated that approximately 5.8 million people in the US are suffering from Alzheimer's, and the number is expected to rise to ~14 million by 2050 One of the major factors responsible for the growth in the prevalence of Alzheimer's is the rising geriatric population. Geriatric patients suffering from Alzheimer's require continuous monitoring and care due to the nature of the disease. This necessitates the use of nurse call systems with advanced functionalities, such as wanderer management, RTLS, and emergency medical alarms, for the effective treatment of these patients.

Also, the rising prevalence of Alzheimer's is one of the major factors resulting in a growth in the number of assisted living centers. Currently, in the US, there are around 28,900 assisted living centers with around 1 million licensed beds in the US. The high and increasing number of assisted living centers with large bed capacity will drive the adoption of nurse call systems, as these systems are essential in assisted living centers for providing better care and ensuring the safety to elderly occupants.

The alarms & communications segment dominated this market in 2019. This segment is expected to have the highest growth as well. Factors attributing for their growth are increased patient safety, essential devices in a healthcare setting, ease of communication between patient and care giver, increased patient satisfaction and reducing risk in healthcare environment.

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Geographical Region Covered

The nurse call system market in Asia Pacific is expected to grow at a high pace in the coming years. The factors attributing for the high growth of the Asia Pacific region are increasing government initiatives for healthcare digitalization, rising geriatric population, a growing number of assisted living centers/long-term facilities, rise in healthcare expenditure, expansion of the healthcare infrastructure, and developing medical tourism. However, the North American and European markets will account for a large share due to mature economies and the presence of major players in the region.

Leading Companies

Nurse call system market are Rauland-Borg Corporation (A division of AMETEK.Inc.) (US), Ascom Holding AG (Switzerland), Hill-Rom (US), Ackermann by Honeywell (Germany), and Jeron Electronic Systems, Inc. (US), Johnson Controls International Plc (Ireland), Azure Healthcare Ltd (Australia), Siemens AG (Germany), SCHRACK SECONET AG (Austria), and Intercall Systems, Inc. (US).

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