Nurse Call Systems Market: Opportunities and Challenges

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Nurse Call Systems Market: Opportunities and Challenges

November 11
18:04 2019
Nurse Call Systems Market: Opportunities and Challenges

The major players operating in the nurse call system market are Rauland-Borg Corporation (A division of AMETEK.Inc.) (US), Ascom Holding AG (Switzerland), Hill-Rom (US), Ackermann by Honeywell (Germany), and Jeron Electronic Systems, Inc. (US), Johnson Controls International Plc (Ireland)
The diverse applications of nurse call systems and the availability of technologically advanced nurse call systems are the major factors that are driving the growth of this market.

The nurse call systems market is projected to reach USD 2,490.6 million by 2024 from USD 1,601.9 million in 2019, at a CAGR of 9.2% from 2019 to 2024. The diverse applications of nurse call systems and the availability of technologically advanced nurse call systems are the major factors that are driving the growth of this market. Also, with the growing demand for long-term care as a result of the rising incidence of Alzheimer’s and other dementias, the adoption of nurse call systems in long-term care facilities is expected to increase in the coming years. However, the high costs involved in the implementation of nurse call systems and the stringent regulatory environment are expected to restrain the growth of this market in the coming years.

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What opportunities do emerging countries provide in Nurse Call Systems market?

Emerging countries such as India, China, Brazil, Russia, and several countries in Latin America and Southeast Asia are expected to offer significant growth opportunities to players operating in the nurse call systems market during the forecast period. More than one-third of the world’s population resides in India and China, and these markets are home to large patient and industry bases. The growing focus on improving the quality of hospital care and healthcare infrastructure in these countries is one of the major factors driving the demand and adoption of nurse call systems in their respective healthcare infrastructures.

The number of hospitals in emerging Asian countries has increased significantly over the last decade. According to the National Bureau of Statistics, in 2016, around 2,000 new private hospitals were established in China. This increased the total number of hospitals in the country to 29,000. Similarly, according to the India Brand Equity Foundation, the healthcare sector in India has been growing rapidly and is estimated to reach USD 280 billion by 2020 (at a CAGR of 17%), wherein hospitals will contribute around 71% of the revenue (the healthcare sector accounts for 5.2% of the GDP of India, and is estimated to be the third-largest growth segment of the Indian economy). Furthermore, the growing medical tourism in Southeast Asian countries such as Singapore, Malaysia, and Thailand, among others, is also expected to provide significant growth opportunities to market players in the coming years (as hospitals in these countries are focusing on implementing world-class amenities for patients and receiving JCI accreditation).

With a population of more than 200 million, Brazil is the largest market for medical devices in Latin America. Currently, there are around 6,500 hospitals and 18,000 diagnostic laboratories in the country. An estimate claims that 80% of all medical products used in Brazilian hospitals are imported, in spite of there being around 4,000 domestic manufacturers (Source: Global Health Intelligence, Brazilian Healthcare Market Outlook 2018). The high reliability on imports is expected to offer potential opportunities to global companies to penetrate the nurse call systems market in Brazil.

What are the challenges one would face in Nurse Call Systems?

Integrating nurse call systems with other solutions/systems, such as electronic medical records, medical devices, older infrastructure, and existing software systems, is a major challenge for nurse call system solution providers.

Due to the complexity and incorporation of various technologies in nurse call systems, it becomes challenging for healthcare facilities to streamline and integrate these systems smoothly with other existing technologies and systems. For instance, synchronization of infusion pump status and alarm information at the nursing station or on a mobile patient-status communication device (which can benefit both patients and nursing staff) is a very challenging task. Also, the development of a complete nurse call enterprise solution that is interoperable with existing patient healthcare systems in hospitals is a major challenge to overcome. In this regard, the need for interoperability is rising as it ensures that innovative and effective technologies have the ability to work in tandem and provide tangible data to increase the efficiency of the overall healthcare workflow. As a result, achieving integration and interoperability between nurse call systems and other technologies/solutions is considered as a major challenge in this market.

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