Nurse Call Systems Market Size, Share & Growth Analysis, [2030] | With CAGR of 13.4%
As per the report by Fortune Business Insights, the global Nurse Call Systems Market size is projected to reach USD 4.47 billion in 2030, at a CAGR of 13.4% during the forecast period, 2023-2030
Nurse Call Systems Market
Pune, India, Dec. 07, 2023 (GLOBE NEWSWIRE) — The global Nurse Call Systems Market size was valued at USD 1.62 billion in 2022 and is expected to be worth USD 1.86 billion in 2023, it is projected to reach USD 4.47 billion by 2030, recording a CAGR of 13.4% during the forecast period.
Fortune Business Insights™ reports that the increasing work pressure on nurses and the decreasing patient-to-nurse ratio is driving the demand for products in the healthcare sector. This insight is derived from their report titled “Nurse Call Systems Market, 2023-2030.”
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Key Industry Development:
November 2021: Austco Healthcare has renewed its maintenance contract with Ng Teng Fong General Hospital (NTFGH), opening up new development opportunities for both companies involved.
Key Takeaways:
- In 2020, India, identified as a significant player in the global market by Institut Montaigne, was reported to have approximately 43,486 private hospitals.
- The global market can be categorized into wired and wireless technology based on technological distinctions.
- In 2022, the global market was led by the basic button-based systems segment, securing a market share of 43.1%.
- In 2022, North America recorded a revenue of USD 0.61 billion.
Discover the Leading Players Featured in the Report:
JNL Technologies (U.S.), Cornell Communications (U.S.), Ascom Holding AG (Switzerland), Rauland (AMETEK, Inc.) (U.S.), Televic (Belgium), Jeron Electronic Systems, Inc. (U.S.), SCHRACK SECONET AG. (Austria), Honeywell International Inc. (U.S.), Azure Healthcare Limited (Australia), Hill Rom Services Inc. (U.S.)
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 13.4% |
| 2030 Value Projection | USD 4.47 billion |
| Base Year | 2022 |
| Market Size in 2023 | USD 1.86 billion |
| Historical Data | 2019-2021 |
| No. of Pages | 153 |
| Segments Covered | Technology; Product; End User; and Region |
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Segmentation:
The wired systems segment is set to lead, driven by its widespread adoption in emerging countries, offering improved security and connectivity compared to wireless systems. In 2022, the wired segment dominated the global market based on technology.
The basic button-based systems segment is anticipated to dominate the market due to its high adoption rate in developing countries. This segment led the global market in 2022, outpacing mobile/smartphone integrated systems, IP-based interconnectivity systems, and others in terms of market share based on product.
The hospital segment is poised to hold a major share of the market, attributed to the increasing number of people suffering from chronic disorders. In 2022, hospitals emerged as the largest end-user segment, relying on these systems for workforce management, monitoring, and emergency management.
Regionally, the global market is segmented into North America, Europe, Asia Pacific, and the Rest of the World.
Driving factor:
The introduction of advanced technologies in communication systems is expected to drive the expansion of the market
Advancements in communication and information technology have the potential to be employed across a wide range of developments in nurse call systems. These advancements facilitate enhanced workflow and patient bed authorization, patient monitoring, safeguarding of nursing staff, and emergency management, among other functionalities. The growth of the global nurse call systems market has been significantly influenced by the progress in advanced technologies, including internet protocol systems and wireless technologies that incorporate mobile device integration.
Regional insights:
North America is poised to take the lead, supported by the increasing healthcare expenditure and rapid adoption of calling systems.
In 2022, North America dominated the nurse call systems market, holding the largest market share and generating a revenue of USD 0.61 billion. The substantial growth in the U.S. market is attributed to the swift adoption and penetration of these systems and devices by numerous hospitals and nursing centers. Factors such as a high geriatric population, a decreasing nurse-to-patient ratio, and an increase in healthcare expenditure further contribute to the regional market expansion.
Concurrently, the Asia Pacific market is anticipated to experience rapid growth throughout the study period due to the escalating demand for these systems and an increasing emphasis on accreditation from regulatory authorities. Additionally, domestic manufacturers in China and India are striving to maintain their dominance by capturing a broad domestic consumer base.
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Competitive Landscape
Key players forge significant partnerships to bring about noticeable transformations in the market.
Market players frequently deploy strategies aimed at fostering market growth and increasing product demand. Among the various tactics employed, a noteworthy strategy to enhance business prospects involves entering multimillion deals with government bodies, securing lucrative revenue for their respective companies.
FAQs
How big is the Nurse Call Systems Market?
Nurse Call Systems Market size was USD 1.86 billion in 2023.
How fast is the Nurse Call Systems Market growing?
The Nurse Call Systems Market will exhibit a CAGR of 13.4% during the forecast period, 2023-2030
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