Nurse Call Systems Market to Exhibit a CAGR of 11.5% and Hit USD 2.79 Billion by 2026; Growth Expected to be Spurred by Increasing Patient Pool, says Fortune Business Insights
Fortune Business Insights
7 min read
Key Prominent Players Covered in the Nurse Call Systems Market Research Report Are Hill-Rom Services Inc., AMETEK. Inc., Ascom, Honeywell International Inc., Azure Healthcare, Jeron Electronic Systems, Inc., Intercall Systems, Inc., Siemens AG, Johnson Controls, Schrack Seconet Ag. and other key market players.
Pune, India, Nov. 23, 2020 (GLOBE NEWSWIRE) -- The global nurse call systems market size is anticipated to showcase notable growth owing to the reduction in the number of patient to nurse ratio. According to a report by Fortune Business Insights. The global nurse call systems market size was valued at USD 1.18 Billion in 2018. However, the global market is projected to reach USD 2.79 Billion by 2026, exhibiting a CAGR of 11.5% during the forecast period.
INDUSTRY DEVELOPMENTS:
February 2019: Ascom launched Telligence Patient Response System in North America. Telligence Patient Response System is based on the Ascom Healthcare platform and enables the elevation of nurse calls for patient-centric care.
February 2015: Rauland-Borg Corporation, now a division of AMETEK.Inc, launched a new software that interfaces nurse call system with the electronic medical record of the patient. This system will facilitate the nurses to track patient medical history and record to deliver appropriate medical care.
Increasing Incidence of Chronic Disorders to Aid in the Growth of Hospital Segment
In terms of end user, the global nurse call systems market is grouped into home care settings, assisted living and nursing centers, hospitals and clinics, and others. The report mentions that hospitals are expected to generate the highest global nurse call systems market revenue in the forthcoming years. It would occur as the nurses in hospitals depend upon nurse call systems for workforce management, emergency management, and monitoring of patients’ health.
The other healthcare facilities like a nursing home and assisted living centers are also estimated to experience considerable growth during the forecast period owing to the rising geriatric population combined with rising prevalence of neurological disorders in this patient population.
In recent years there is a growing trend in elderly population preferring home care treatment. However, the home care setting in global nurse call system market held a lower market share.
Increasing Healthcare Infrastructure in the U.S. to Favor Growth in North America
The global nurse call systems market is geographically divided into Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. Amongst these regions, North America is expected to lead the global nurse call systems market during the forecast period. The region had acquired a revenue of USD 445.4 million in the year 2018.
The growth is attributed to the rapid penetration and acceptance of nurse call systems by numerous healthcare organizations, namely, nursing centers and hospitals. Moreover, a rise in geriatric population and growing healthcare expenditure in the U.S. are likely to impact the nurse call systems market growth positively in North America.
Ascom and Rauland-Borg Launch Advanced Nurse Call Systems to Increase Efficiency
Ascom, a global solutions provider, headquartered in Switzerland, announced the launch of its Telligence in North America in February 2019. Telligence is considered to be the world’s first patient response system. It is a scalable and modular patient response system that upgrades nurse call service for unique patient-centric care.
With the guidance of Telligence, caregivers can get access to appropriate information throughout the care process as well as at the point of care. It is developed on the Ascom Healthcare Platform and it aids in collecting information from several sources, such as healthcare applications, patients, applications, and other medical devices. It has the ability to smoothly integrate with the facility’s current applications and devices.
Doctors and clinicians can get an in-depth view of the patient’s health status that is much better than the traditional form of nurse call. It helps the caregivers to get to know about the patient’s current health condition and response to their requests accordingly.
List of the prominent market players operating in the global nurse call systems market:
Annual reports, investor presentation, SEC filings, and press releases of companies operating in the market
Studies published by relevant associations MedTech Europe; American College of Radiology; Cancer Council Australia; Japan Hospital Association, etc.), government sources (Centers for Disease Control & Prevention, Ministry of Health, Labour & Welfare, Japan; National Health Service, England, etc.), international organizations (World Health Organization, The Organization for Economic Co-operation and Development, Eurostat, etc.), and articles published by Research Gate, NCBI, etc.
Website, reports, and press releases of end user facilities – Hospitals, Ambulatory Surgery Centres, Clinics
Industry journals and paid databases
SECONDARY RESEARCH IS CONDUCTED TO DERIVE THE FOLLOWING INFORMATION:
Details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companies
Details in relation to prevalence, incidence, patient numbers, distribution of patients, average price of treatment, etc.
Number of end user facilities by region/country and average annual spending or procurement of devices by type of end user facility
Number of procedures and average price of procedures
Replacement rate and pricing of capital equipment
Market dynamics in relation to the market under focus – Drivers, restraints, trends, and opportunities
Market & technological trends, new product developments, product pipeline.
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