The global nurse call systems market is projected to reach USD 2.5 billion by 2024 from USD 1.6 billion in 2019, at a CAGR of 9.2% from 2019 to 2024.
Increasing incidence of Alzheimer’s disease and growing number of assisted living centers
Alzheimer's disease is a progressive disorder that causes brain cells to waste away (degenerate) and die. Also, it is the most common cause of dementia—a continuous decline in thinking, behavioral, and social skills that disrupt a person's ability to function independently.
It is estimated that approximately 5.8 million people in the US are suffering from Alzheimer’s, and the number is expected to rise to ~14 million by 2050 One of the major factors responsible for the growth in the prevalence of Alzheimer’s is the rising geriatric population. Geriatric patients suffering from Alzheimer’s require continuous monitoring and care due to the nature of the disease. This necessitates the use of nurse call systems with advanced functionalities, such as wanderer management, RTLS, and emergency medical alarms, for the effective treatment of these patients. Also, the rising prevalence of Alzheimer’s is one of the major factors resulting in a growth in the number of assisted living centers. Currently, in the US, there are around 28,900 assisted living centers with around 1 million licensed beds in the US. The high and increasing number of assisted living centers with large bed capacity will drive the adoption of nurse call systems, as these systems are essential in assisted living centers for providing better care and ensuring the safety to elderly occupants.
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High costs involved in the implementation of nurse call systems
The effectiveness of a nurse call system is dependent on the hardware, software, and the staff training levels in a healthcare facility. As a result, for the effective implementation and use of nurse call systems, end users have to invest heavily in these areas. In addition, it takes a long time to realize the financial benefits of implementing these systems.
As many hospitals have restricted budgets, it is difficult for them to make such significant investments in the implementation of nurse call systems and the related staff training. Also, cost-benefit analysis plays an important role in the design, development, and deployment of a successful nurse call system implementation strategy. This is because there is a possibility of implementation failure, due to non-compatibility with existing systems, which increases the financial risks for hospitals. Furthermore, as these costs are generally considered under capital expenditure (CAPEX), the priority level of buying nurse call systems and the functionalities included in them is debatable for the hospital management. These factors are expected to restrain market growth to a certain extent in the coming years.
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