The Nurse Call Systems Market is estimated to hit .026 billion by 2023

Posted by Lohitha on August 13th, 2019

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.

View Full Table Of Contents Of Nurse Call Systems (NCS) Market:

https://www.industryarc.com/Report/1312/Nurse-Call-Systems-Market-Analysis-Report.html

North America continues to lead the market share during 2018-2023.

North America is dominating the Nurse Call Systems Market, with a share of .353 billion in 2017 at a CAGR of 5.80%, and is projected to reach .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.
Asia-Pacific market will show significant share in the global nurse call systems market, with revenue of .939 billion in 2017 and growing at a highest CAGR of 12.21% to reach .868 billion by 2023. Asia-Pacific is the most promising region globally for nurse call systems. Few factors which have a positive impact on the market in this region are: rapidly aging population driving the demand for efficient emergency monitoring systems, increased healthcare expenditure by governments across different countries in this region, and technological advancements making latest wireless nurse call systems highly affordable and accessible.

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. This requires the company to develop or collaborate with other companies to provide software compatible with its product for integrating these devices.
The finished products, nurse call systems, are then distributed to wholesalers or retailers through global or regional distributors which then reach the end-users such as hospitals, assisted living and senior living facilities. These systems are also sometimes integrated with other portable communication devices and healthcare monitoring devices, based on the requirements of the end-users.

Excerpts on Market Growth Factors Mentioned in the Full Report:

Availability of reimbursements from private and government health insurers is the major factor driving large scale adoption of NCS devices.
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.
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.
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.

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.

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