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Nurse Call System Market Insights, Competitive Analysis, Latest Trends, And Forecast To 2033
Nurse Call System Market Trends
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According to The Business Research Company's, The nurse call system market size has grown rapidly in recent years. It will grow from $2.44 billion in 2023 to $2.74 billion in 2024 at a compound annual growth rate (CAGR) of 12.2%. The growth in the historic period can be attributed to healthcare industry growth, aging population, patient safety, regulatory compliance, emergency response.
The nurse call system market size is expected to see rapid growth in the next few years. It will grow to $4.51 billion in 2028 at a compound annual growth rate (CAGR) of 13.2%. The growth in the forecast period can be attributed to infection control, telehealth services, sustainable practices, mobile applications, staff and patient satisfaction. Major trends in the forecast period include internet of things (iot), artificial intelligence (ai), real-time location services (rtls), technological advancements, remote patient monitoring.
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Market Drivers and Trends:
The rise in the geriatric population is significantly contributing to the growth of the nurse call system market going forward. The geriatric population is sensitive to diseases such as osteoarthritis, chronic obstructive pulmonary diseases, and diabetes mellitus as their immune systems develop slowly with increasing age. A significant increase in the global elderly population has increased the demand for competent nursing care services that provide rapid response, streamlined, customized communication among patients. For instance, according to the United Nations Department of Economic and Social Affairs, a US-based intergovernmental organization, in 2020, there were approximately 727 million people aged 65 years and above worldwide, and that number is expected to reach approximately 1.5 billion by 2050. Therefore, the rise in the geriatric population is driving the growth of the nurse call system market.
Strategic partnerships have emerged as a key trend gaining popularity in the nurse call systems market. Major companies operating in the nurse call systems sector are focused on partnerships to reinforce their position. For instance, in August 2021, Ascom Holding AG, a Switzerland-based telecommunications company providing wireless on-site communications in nurse call systems, partnered with Vizient Inc., a US-based consulting company. The partnership enables Vizient members to take advantage of special pre-negotiated pricing and terms for the Ascom nurse call and monitoring system, which gives patients and staff the tools to access and respond to alerts, messages, and clinical data. Furthermore, in June 2020, PalCare and NOTIFY Nurse Call announced a strategic partnership to advance in developing nurse call systems. The partnership would provide senior living communities with best emergency call mobile application offerings and management dashboards.
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Major Key Players of the Market:
Johnson Controls International plc, Rauland-Borg Corporation, Ascom Holding AG, Honeywell International Inc., Azure Healthcare Limited, Jeron Electronic Systems Inc., Vifor Pharma Group, Courtney Thorne Limited, Siemens Energy & Automation Inc., Baxter International Inc., BioScrip Inc., Grifols S.A., JW Life Science Corporation, CVS Health Corporation, Hill-Rom Services Inc., Systems Technologies Inc., Siemens AG, Austco Communication Systems Pty Ltd., West-Com Nurse Call Systems Inc., MEEYI Medical Technology Co. Ltd., Schrack Seconet AG, Stanley Black & Decker Inc., Vigil Health Solutions Inc., Ametek Inc., Critical Alert Systems LLC, IgeaCare Solutions Inc., BEC Integrated Solutions LLC, Fujian Huanyutong Technology Co. Ltd., Wireless NurseCall Systems Inc., TekTone Sound & Signal Mfg. Inc., Momentum Healthware Inc., Caretronic Systems Pvt. Ltd., Intercall Systems Inc., Wandsworth Group Limited, Static Systems Group plc, Aid Call Limited, Medicare Systems Pvt. Ltd., Legrand North America LLC, Curbell Medical Products Inc., Cornell Communications Inc., Mircom Technologies Ltd.
Nurse Call System Market 2024 Key Insights:
• The nurse call system market size is expected to see rapid growth in the next few years. It will grow to $4.51 billion in 2028 at a compound annual growth rate (CAGR) of 13.2%.
• Geriatric Population Surge Fuels Growth In Nurse Call System Market
• Strategic Partnerships Drive Innovation In The Nurse Call Systems Market
• North America was the largest region in the nurse call system market in 2023
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