Nurse Call Systems Market Expected to Reach US$ 1,579.5 Mn by 2020 Globally : Transparency Market Research
Albany,NY (PRWEB) February 13, 2015 -- The global market for nurse call systems, in terms of revenue, was valued at US$ 598.5 Mn in 2013 and is forecast to grow at a CAGR of 13.9% during the period 2014 to 2020. The increasing demand for effective healthcare communications and rising budget allocation for healthcare services for the elderly population are some key factors driving the growth of the global nurse call systems market. In addition, increasing applications of nurse call systems in assisted living facilities are further expected to drive the growth of this market over the forecast period.
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Based on equipment type, the nurse call integrated communication systems market held the largest share of around 75% in terms of revenue in 2013. Other equipment types namely, nurse call buttons, nurse call intercoms, and nurse call mobile systems are expected to grow at a significant rate during the period 2014 to 2020. Factors such as increasing penetration of mobile systems and rising need for higher mobility and flexibility are expected to drive the growth of nurse call mobile systems market.
By end-use, hospitals held the largest share of nearly 74% of the overall nurse call systems market in terms of revenue in 2013. With the increasing adoption of nurse call integrated communication systems, a substantial amount of revenue is generated in the acute care segment in the overall nurse call systems market. Moreover, incorporation of advanced technologies such as real-time location systems (RTLS) and electronic medical records (EMR) have enabled nurse call system providers to offer a comprehensive healthcare communication solution. Increasing demand for higher flexibility and mobility has led to the increasing adoption of nurse call mobile systems across various healthcare settings.
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Developed markets including North America and Europe led the global nurse call systems market in 2013. North America held the largest share of about 38% in 2013 of the overall nurse call systems market due to significant adoption by both acute care and assisted living facilities. With the increasing adoption of nurse call systems in various healthcare settings in the region, the market in Asia Pacific is expected to be the fastest growing during the forecast period. On account of increasing demand from countries such as China, India, Japan and Singapore, the Asia Pacific nurse call systems market is expected to grow at a CAGR of 17.6% during the forecast period 2014 to 2020. Furthermore, the rapidly emerging assisted living segment in Asia Pacific through wireless solutions is anticipated to be the key to gaining significant market share in the region during the forecast period.
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The global nurse call systems market comprises numerous players offering various nurse call solutions. With the increasing demand for enhanced mobility and flexibility, key players offer a wide range of nurse call systems solutions to fit specific customer requirements. The key players in the nurse call systems market include Rauland-Borg Corporation, Hill-Rom Holdings, Inc., Ascom Holding AG, Azure Healthcare Limited, Stanley Healthcare, Tyco SimplexGrinnell, Cornell Communications, Inc., Jeron Electronic Systems, Inc., TekTone Sound & Signal Mfg., Inc., Vigil Health Solutions, Inc. and Critical Alert Systems LLC.
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