Nurse Call Systems Market: To Dominant Market Share Gary Harris Jersey , Market to Register 13.90% CAGR 2014-2020 Health Articles | August 4, 2016
Transparency Market Research Report Added "Nurse Call Systems Market - Global Industry Analysis, Size, Share Paul Millsap Jersey , Growth, Trends and Forecast 2014 - 2020"
The top five vendors in the global nurse call systems market collectively held 44% of the market in 2013. However, these vendors-Ascom Holding AG, Rauland-Borg Corporation Denver Nuggets Jersey , Tyco SimplexGrinnell, Azure Healthcare Limited, and Hill-Rom Holdings Inc.-have to compete with numerous small-sized players in a highly fragmented landscape. These are the findings of a recent study published by Transparency Market Research (TMR).?
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“Acquisitions and takeovers have been the key growth model for companies in the nurse call systems market,” says the author of the study. ?A case in point would be Ascom Holding AG Seth Curry Jersey , the company acquired Integrated Wireless Software Pty. Ltd. and Integrated Wireless Pty. Ltd. This has allowed the company to penetrate into Asia Pacific and build a strong foothold in this region.
System integration to increase compatibility with various healthcare applications in a bid to offer comprehensive workflow solutions is also what key players in this market are striving for. ?The integration of nurse call solutions allows real-time monitoring of individual patient metrics. The formation of national-level dealer networks in order to increase product reach and availability is another strategy adopted by key players in the nurse call systems market.
Demand for High-quality Patient Care Necessitates Installation of Nurse Call Systems
“An increasing geriatric population across the world is a major factor driving the global nurse call systems market,” says a TMR analyst. This is because this population is susceptible to illnesses and may require hospitalization for dedicated care. The use of nurse call systems for the geriatric population ensures that the patient can raise an alert at the nurse’s station to deliver timely care. This, in turn, allows healthcare organizations to attain seamless communication and streamline nursing activities.
The increasing budget allocation for healthcare of the elderly population is also significantly contributing to the growth of this market. With an increase in the median age of the global population Luka Doncic Jersey , several countries are focused on providing improved healthcare. Factors such as increasing dependency ratio and the retirement of baby boomers have necessitated the availability of quality healthcare services for aged population.
The increasing need for effective and responsive healthcare communication is another significant factor driving the global nurse call systems market. This is because nursing staff need to be watchful and responsive to provide high quality of healthcare and to ensure patient safety.
“Government regulations in place for the manufacture and distribution of nurse call systems is major impediment to the growth of this market”, says TMR analyst. As per the recent amends by the International Medical Device Regulators Forum (IMDRF), nurse call systems would be included in the category of medical devices. This necessitates nurse call systems to be clinically audited, regulated Tim Hardaway Jr. Jersey , and certified.
The IMDRF amend also requires that the software within medical devices need to satisfy medical grade ISO 9000 quality control specifications.?
Hospitals Represent Largest End-use Segment
The global nurse call systems market is expected to be worth US$1.57 bn by 2020. Nurse call integrated communication systems is the leading segment of the market on the basis of equipment type; the segment held almost 75% of the overall market in 2013. Nurse call mobile systems equipment type is expected to display significant demand in the foreseeable years. Wired nurse call communication equipment is the largest segment of the market on the basis of communication technology. Hospitals is the largest end-use segment of the nurse call systems market.
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