Nurse Call Systems Market in terms of revenue was estimated to be worth $2.5 billion in 2024 and is poised to reach $4.0 billion by 2029, growing at a CAGR of 10.2% from 2024 to 2029. The new research study consists of an industry trend analysis of the market. The new research study consists of industry trends, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market.
The global market is experiencing significant growth primarily due to the convenience of communication that the nurse call system provides for patients as well as caregivers and the wide range of applications these systems offer, namely, wanderer control, fall detection and prevention, and patient management. Moreover, advancements in technology within nurse call systems are playing a crucial role in driving this growth. This market expansion is also propelled by the improved efficiency and enhanced patient care that modern nurse call systems provide to healthcare facilities.
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Nurse Call Systems Market Dynamics:
Drivers:
- Rising geriatric population and increasing prevalence of chronic diseases
- Increasing technological advancements in nurse call systems
- Growing focus on cost containment in healthcare delivery
Restraints:
- High probability of false alarms to restrain optimal functioning
Opportunities:
- Improvements in healthcare infrastructure across emerging economies
- Rising expenditure on advanced healthcare services
Challenge:
- Challenges associated with integration and interoperability
- Stringent regulatory guidelines for product approval
Key Market Players of Nurse Call Systems Industry:
The major players operating in this market are Ametek, Inc. (US), Baxter International, Inc. (US), ASCOM Holdings AG (Switzerland), Johnson Controls (US), Siemens AG (Germany), Austco Healthcare (Australia), Securitas Healthcare (US).
In 2023, the button-based systems segment held the largest share of the nurse call systems market by type segment.
Based on type, the nurse call systems market has been segmented into button-based systems, integrated communication systems, mobile systems, and intercom systems. The button-based systems segment accounted for the largest share of this market in 2023. the largest market share of button-based nurse call systems can be attributed to their simplicity, reliability, and cost-effectiveness. These systems offer a straightforward way for patients to request assistance, ensure quick response times for caregivers, are known for their durability, and are affordable for healthcare facilities of varying sizes.
The wired communication technology segment held the largest share of the nurse call systems market by technology segment in 2023.
Based on technology, the nurse call systems market is segmented into wired nurse call systems and wireless nurse call systems. The largest portion of this market was held by the wired communication technology segment in 2023. This significant share is primarily wired nurse call systems are often preferred for their stability and consistent performance in healthcare settings, where reliability is crucial for patient care. These systems offer a robust communication infrastructure that can handle the demands of hospitals and other healthcare facilities efficiently.
North America is the largest regional market for nurse call systems market.
The markets for nurse call systems has been divided into six key geographical regions: North America, Europe, Asia Pacific, Latin America, the Middle East & Africa, and GCC countries. In 2023, Asia Pacific held the highest growth rate of the nurse call systems market. The significant Asia Pacific market share can be attributed to several factors. Firstly, there is a growing geriatric population in the region, leading to an increased need for healthcare services and systems like nurse call systems. Additionally, favorable government initiatives and regulations support the adoption of these systems. Furthermore, the presence of major manufacturers in. North America contributes to the market's growth, as it enhances accessibility and awareness of nurse call systems in the region. This, coupled with the rising awareness and demand for nurse call systems among healthcare providers and facilities, solidifies North America's position as a key market for these systems.
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Recent Developments of Nurse Call Systems Industry:
- In August 2023, ASCOM (Switzerland) launched Myco 4 smartphone for clinical institutions and enterprises which provides effective communication, better coordination and improved efficiency.
- In September 2021, Ametek, Inc. (Rauland-Borg Corporation) (US) launched Telecenter U network-based building communications system for the acute care environment.
- In December 2021, Baxter International, Inc. (US) acquired Hill-Rom Holdings, Inc. (US). The acquisition is expected to enhance each company's digital offering.
- In February 2024, Austco Healthcare announced partnership with Aamal Medical to improve healthcare outcomes and bring cutting-edge patient care to market.
- In July 2022, Securitas Healthcare (US) acquired the Electronic Security Solutions business from Stanley Black & Decker Inc. ("STANLEY Security") to position itself as an outstanding global security and safety partner that helps make the world a safer place.
Nurse Call Systems Market - Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall nurse call systems market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, opportunities, and challenges.
Content Source:
https://www.marketsandmarkets.com/Market-Reports/nurse-call-system-market-230909048.html
https://www.marketsandmarkets.com/PressReleases/nurse-call-system.asp
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