The global Nurse Call Systems market is projected to grow at a CAGR of 6.60%, from $10.921 billion in 2017 to reach $16.026 billion by 2023.
HYDERABAD, TELANGANA, INDIA, June 12, 2018 /EINPresswire.com/ — According to the new market research report by IndustryARC titled “Nurse Call Systems (NCS) Market: By Type (Traditional NCS, Advanced NCS, Middleware Interfaced NCS); By End Users (Hospitals & Clinics, Senior Living Facilities and Assisted Living Facilities); By Geography – Forecast (2018-2023)”, the market is set to register healthy growth due to the presence of large number of hospitals, and by improving technological advancements.
North America continues to lead the market share during 2018-2023.
North America is dominating the Nurse Call Systems Market, with a share of $4.353 billion in 2017 at a CAGR of 5.80%, and is projected to reach $6.105 billion by 2023. The presence of large number of hospitals and healthcare facilities is the biggest driving factor for traditional nurse call systems market in this region. According to the WHO, 30.85% of the globally registered hospitals are in the Americas. Moreover, the rapidly aging population in the U.S., Canada and Mexico will drive the need for efficient emergency medical alarms in hospitals and assisted living facilities.
Selected / Sample Analysis done in the full Report:
The quality of nurse call systems manufactured depends on both the components used and the technologies adopted. There is very less scope for innovation in traditional nurse call systems. However, the newer systems are integrated with other healthcare devices and use latest technologies. Once the design, product features, specifications and patent filing are finished, either through its own R&D activities or licensing agreements with research institutes or universities, the company starts the manufacturing process.
The company procures a variety of raw materials and electronic components from suppliers, or produces its own components. It then manufactures the NCS either at their own factory, or outsources the production process to a third-party manufacturer. Sometimes, these NCS are also integrated with other smart devices / integrated communication systems and wireless nurse communication devices such as radios and pagers.
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Excerpts on Market Growth Factors Mentioned in the Full Report:
1. Availability of reimbursements from private and government health insurers is the major factor driving large scale adoption of NCS devices.
2. The presence of the large number of hospitals and healthcare facilities is the biggest driving factor for traditional nurse call systems market in North American region.
3. Increased penetration of smart-phones and their growing use by health-care professionals for emergency communication is also projected to drive significant growth for the market.
4. The reimbursement policies implemented by government across various countries are the most important driver that will drive robust growth for the NCS market in the next coming years.
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Key Players of the Nurse Call Systems Market:
The nurse call systems market was dominated by Hill-Rom Holdings Inc., Tyco SimplexGrinnell LP, Ascom Holding AG, Honeywell International, Inc., and Rauland-Borg Corporation. Tyco SimplexGrinnell and Hill-Rom Holdings are the two companies that hold the largest share in the global NCS market, in terms of revenue. These companies have also invested significant amount of R&D for expanding and improving their product portfolio. Hill-Rom invested around 4% of its total revenue on development of innovative products, integrated nurse call system technology in particular.
Nurse Call Systems Market Report is segmented as below.
Nurse Call Systems Market By Type:
1. Traditional Nurse Call Systems
2. Advanced Nurse Communication Systems
3. Middleware Interfacing Nurse Call Systems
3.1. Middleware Interfacing to Revolutionize Patient-To-Nurse Communication
Nurse Call Systems Market By End-Users:
1. Hospitals and Clinics
1.1. Regulatory Reforms to Facilitate Large-Scale Implementation of NCS across Hospitals and Clinics
2. Senior Living Facilities
2.1. Growing Aging Population Will Spur the Adoption of NCS In Senior Care Centers
Nurse Call Systems Market By Geography ( Covers 18+ Countries )
Nurse Call Systems Market Entropy
Companies Citied / Interviewed
1. Siemens Ag
2. Tektone Sound & Signal Mfg., Inc.
3. Jeron Electronic System, Inc.
4. Stanley Healthcare Solution
5. GE Health Care Solution
6. Cornell Communication Inc.
7. Critical Alert Systems LLC
8. Vigil Health Solutions Inc.
9. West-Com Nurse Call Systems Inc.
10. Schrack Seconet Ag
11. Company 11
12. Company 12
13. Company 13
14. Company 14
15. Company 15+
A. Medical Alert Systems Market
B. Personal Emergency Response System Market
What can you expect from the report?
The Nurse Call Systems Market Report is Prepared with the Main Agenda to Cover the following 20 points:
1. Market Size by Product Categories
2. Market trends
3. Manufacturer Landscape
4. Distributor Landscape
5. Pricing Analysis
6. Top 10 End user Analysis
7. Product Benchmarking
8. Product Developments
9. Mergers & Acquisition Analysis
10. Patent Analysis
11. Demand Analysis ( By Revenue & Volume )
12. Country level Analysis (10+)
13. Competitor Analysis
14. Market Shares Analysis
15. Value Chain Analysis
16. Supply Chain Analysis
17. Strategic Analysis
18. Current & Future Market Landscape Analysis
19. Opportunity Analysis
20. Revenue and Volume Analysis
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Source: EIN Presswire