What’s The Growth Forecast For Nurse Call System Market Through 2023-2032?
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
the global nurse call system market has witnessed substantial growth, surging from $2.13 billion in 2022 to $2.39 billion in 2023, marking a commendable compound annual growth rate (CAGR) of 12.5%. Despite geopolitical disruptions stemming from the Russia-Ukraine war and the lingering impacts of the COVID-19 pandemic on global economic recovery, the nurse call system market is poised for continued expansion, projected to reach $3.74 billion by 2027 with a CAGR of 11.8%. Let’s explore the key drivers, trends, major players, and regional dynamics shaping the trajectory of this crucial healthcare technology.
- Catalysts for Growth: Geriatric Population Surge
The burgeoning geriatric population stands out as a pivotal force propelling the growth of the nurse call system market. The elderly, susceptible to conditions like osteoarthritis, chronic obstructive pulmonary diseases, and diabetes mellitus, require responsive and customized nursing care. With the global elderly population projected to reach approximately 1.5 billion by 2050, up from 727 million in 2020, the demand for efficient nurse call systems that facilitate rapid response and streamlined communication is on the rise. The nurse call system proves indispensable in delivering prompt and tailored healthcare solutions to the elderly demographic.
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- Major Players: Innovations and Collaborations
Key players driving innovation in the nurse call system market include Johnson Controls, Rauland Corporation, Ascom Holding AG, and Honeywell International Inc., among others. A notable trend within the sector is the strategic partnerships forged by major companies. For instance, Ascom Holding AG’s partnership with Vizient Inc. in 2021 enabled Vizient members to benefit from pre-negotiated pricing and terms for the Ascom nurse call and monitoring system. Strategic collaborations, such as Baxter International Inc.’s acquisition of Hillrom for USD 10.5 billion in December 2021, signify a commitment to growth, digital health innovation, and enhanced patient care through connectivity opportunities.
- Trend: Strategic Partnerships Steer Industry Dynamics
Strategic partnerships have emerged as a dominant trend in the nurse call system market, with companies recognizing the synergies that collaborative efforts can offer. Partnerships between companies like Ascom Holding AG and Vizient Inc. exemplify the trend, bringing about special pricing and terms for nurse call and monitoring systems, ultimately benefiting patients and staff by improving accessibility and response to alerts, messages, and clinical data.
- Regional Dynamics: North America Takes the Lead, Asia-Pacific Emerges
As of 2022, North America holds the lion’s share in the nurse call system market. However, Asia-Pacific is anticipated to emerge as the fastest-growing region in the forecast period. The comprehensive market analysis covers regions such as Western and Eastern Europe, South America, the Middle East, and Africa, providing insights into the varied dynamics influencing market growth.
- Market Segmentation: Tailored Solutions for Diverse Applications
The nurse call system market caters to diverse applications through meticulous segmentation:
5.1 Type
- Button-Based Systems
- Integrated Communication Systems
- Mobile Systems
- Intercom Systems
5.2 Technology
- Wired Communication
- Wireless Communication
5.3 Applications
- Emergency Medical Alarms
- Wanderer Control
- Workflow Support
- Other Applications
5.4 End User
- Hospitals
- Long-term Care Facilities
- Clinics and Physician Offices
- Other End Users
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The Nurse Call System Global Market Report 2023 provides a comprehensive overview on the nurse call system market size, nurse call system market trends and nurse call system market drivers, nurse call system market opportunities, nurse call system market strategies, and companies analysis. The countries covered in the nurse call system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and nurse call system market the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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