Press release
Nurse Call System Equipment Market Projected to Reach US$ 444.6 Mn
The TMR report projects the demand in the global nurse call systems market to expand at an impressive CAGR of 10.9% during the forecast period of 2017 to 2025, estimating it to reach a valuation of US$2,665.98 mn by 2025. Most of the key vendors are resorting to latest technologies in order to differentiate themselves from the competition and gain market share. The report also expects offering of customized services according to the requirements of individual hospital, acquisitions of promising entrants, significant contract wins, and new product launches as some of the other strategies of the key players to expand their revenue horizon.
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Based on equipment-type, IP-based nurse call systems generated maximum revenue in 2016, whereas wired communication contributed maximum demand in terms of communication technology. End-users of the global nurse call systems market has been bifurcated into hospitals, assisted living centers, nursing homes, and clinics, with hospitals offering most of the demand, owing to growing adoption of nurse call systems at all-in-one healthcare facilities. Geographically, North America is the most profitable region, with robust medical infrastructure, although Asia Pacific is projected for the best growth rate.
Increased Healthcare Budget and Government Support Driving Demand
Increase in healthcare expenditure, especially in the developed countries, growing adoptability of medical insurance in various emerging economies, aging population across the world, prevalence of chronic diseases, increased investment in healthcare, government support from innovative technology that come to consumer’s aid in real-time, technological advancements and product development, and easy data availability for important healthcare departments are some of the primary factors driving the global nurse call systems market.
As per the estimations of the World Health Organization, world’s population with people over 60 years of age will almost double from 12% to 22% during the period of 2015 to 2050. As geriatrics commonly suffer from various chronic diseases and are frequently unable to help themselves, this significant chunk of population will continue to pose strong demand in the global nurse call systems market. On the other hand, factors such as high implementation costs, challenges pertaining to integration and interoperability, stringent regulatory environment, and the lack of trained professionals who can function efficiently with healthcare as well as IT are hindering the market for nurse call systems from attaining its true potential.
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Increasing Nurse Involvement in Healthcare Opening New Opportunities
Upcoming technologies such as centralized nurse call system, integration of nurse call systems with smartphones and in-hospital wireless phones, interoperable designs, and increasing nurse involvement in healthcare are some of the trends that are expected to reflect positively on the global nurse call systems market. The author of the report suggests the vendors of this market to pay deserving focus to the Asian countries wherein medical tourisms sector is prospering.
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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.
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