iCrowd Newswire – May 18, 2020
The global nurse call systems market accounted to US$ 1,252.65 Mn in 2018 and is expected to grow at a CAGR of 10.3% during the forecast period 2019 – 2027, to account to US$ 2,936.83 Mn by 2027.
The global nurse call systems market, based on equipment is segmented into intercom systems, mobile systems, buttons, and integrated communication systems. In 2018, integrated communication systems segment held the largest share of the market, by equipment. This segment is also expected to dominate the market in 2027 owing to advantages offered by integrated communication systems over the traditional nurse call systems as they enable fast, flexible approach for patient-to-staff and staff-to-staff communication. Moreover, the integrated communication systems segment is anticipated to witness the significant growth rate of 10.7% during the forecast period.
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Some of the prominent players operating in nurse call systems market are, Ascom, Honeywell International Inc., Siemens AG, Azure Healthcare, Intercall Systems Inc., SCHRACK SECONET AG, STANLEY Healthcare, Critical Alert Systems., Hill-Rom Services Inc., and Rauland. The market players are focused towards bringing new and innovative products to sustain their position in the market. For instance, in January 2019 Rauland-Borg Corporation has launched a true next generation enterprise-wide platform for the Responder intelligent nurse call solution. The solution has helped in optimizing the clinical workflows and enabling hospitals to optimize their patient outcomes.
Key factors driving the market are rising incidence of Alzheimer’s disease across the region, rising in the support of government in country. In addition, the presence of various market players and rising in the numbers of assisted living centers in the world are likely to contribute the growth of the market. However, factors such as higher costs of the nurse call system and its installation charges are expected to hamper the growth of global nurse call system market.
The Asia Pacific nurse call systems market is expected to grow at highest rate during the forecast period owing to driving factors such as significant rise in the incidences of the Alzheimer’s disease and other dementia, presence of the market and developments done by them. The market is also experiencing the growth of the assisted living centers that are likely to drive the growth of the Asia Pacific region.
In addition, it is also stated that from 2000 to 2017 the deaths due to Alzheimer’s disease has grown by 145%, one in every three senior person dies with the disease or the other form of the dementia. The cost incurred in the disease are rising in the region. It was estimated that by 2019 Alzheimer’s and other form of dementias will cost nearly US$ 290 billion and it is also estimated that by 2050 the cost can rise roughly up to US$ 1.1 trillion. For the seniors citizens living with the dementia are provided care of nearly 18.5 billion hours which is fairly valued approximately US$ 234 billion.
In US, there are approximately, 42% of assisted living centers that are run independently and rest are organization with two or more communities that work together. The paying for the care is comparatively less than the average cost of a homemaker services. The average cost per year is approximately US$ 48,000 on the other hand the homemaker service cost is US$ 48,048 or for the home health aide is approximately US$ 50,336. Majority of the assisted living centers utilized some form of private funds to pay for the care services. Thus, the growing number of assisted living centers is expected to create a demand for the nurse call systems across the world.
Strategic acquisition and product launches were observed as the most adopted strategy in global nurse call systems industry. Few of the recent product launch, product approval and acquisitions are listed below;
2019: Critical Alert Systems has announced a partnership with Bernoulli Health, developer of Bernoulli One. The platform fuses Bernoulli One’s real-time, patient-generated data, including live-streaming waveforms and alert notifications intelligently aggregated and filtered from multiple physiologic devices and EHRs, with Critical Alert Systems’ staff assignment, advanced, rules-based routing and distribution capabilities.
2018: Ascom Holding AG with Dräger AG & Co. KGaA has launched integrated clinical alarm management solution in North America. The solution was introduced for Ascom’s Unite Connect and it has received FDA clearance for sales and distribution in the US. The product is also available in the Canadian market.
2017: Beacon Communications, LLC entered into partnership with STANLEY Healthcare Connected, and will offer STANLEY Healthcare’s senior living solutions – including the Arial emergency call solution and WanderGuard BLUE wander management solution to new and existing customers in western United States.
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Keywords: Nurse Call Systems Market, Nurse Call Systems