PUBLISHER: The Insight Partners | PRODUCT CODE: 1843401
PUBLISHER: The Insight Partners | PRODUCT CODE: 1843401
The Asia Pacific nurse call systems market is projected to grow significantly, reaching approximately US$ 1,038.48 million by 2031, up from US$ 427.51 million in 2023, reflecting a compound annual growth rate (CAGR) of 11.7% during the forecast period from 2023 to 2031.
Executive Summary and Market Analysis
The nurse call systems market in the Asia Pacific region is divided into several key countries, including China, Japan, India, Australia, South Korea, and other nations in the region. The growth of this market is primarily driven by advancements in the healthcare sector in countries like India and China, the increasing prevalence of conditions such as dementia and Alzheimer's, and strategic initiatives by market players.
Market Segmentation Analysis
The Asia Pacific nurse call systems market can be analyzed through various segments:
Market Outlook
Emerging economies in the Asia Pacific are making substantial investments in healthcare infrastructure. Governments are implementing reforms and initiatives to enhance healthcare access. For example, the Philippines has allocated approximately ₱22.98 billion (around $404 million) for 2024 to improve healthcare access in underserved regions through the Health Facilities Enhancement Program. Similarly, Vietnam plans to invest over VND 7 trillion (approximately $304 million) in medical infrastructure from 2021 to 2030 to upgrade regional hospitals and build new facilities. Malaysia has approved RM 11.2 billion (about $2.5 billion) in incentives for private healthcare facilities to enhance competitiveness and attract investments, thereby improving services and supporting medical tourism. In India, the Ayushman Bharat Health Infrastructure Mission aims to strengthen healthcare infrastructure, with the India Investment Grid (IIG) showcasing 1,157 healthcare projects worth US$ 31.28 billion across the country. These developments in the healthcare sector are expected to create significant opportunities for the adoption of nurse call systems.
Country Insights
The Asia Pacific nurse call systems market includes key countries such as China, Japan, India, Australia, South Korea, and others, with China holding the largest market share in 2023. China is experiencing a rapidly aging population, projected to reach 366 million elderly individuals by 2050, according to the Population Reference Bureau. The increasing risk of dementia among the elderly population enhances the demand for nurse call systems, which improve safety and staff performance in senior care facilities.
Key players in the market are engaging in various strategies, including mergers, acquisitions, product launches, and fundraising to expand their presence. For instance, in August 2024, Fanvil Technology Co., Ltd. launched an updated Nurse Call System, V1.0 Beta, featuring new functionalities for caregivers and patients. Additionally, Mingke Technology introduced an innovative Nurse Call System designed to enhance communication and response to patient needs, integrating advanced communication technologies to improve patient care and operational efficiency in healthcare settings. The growing elderly population is expected to further drive the nurse call systems market in the coming years.
Company Profiles
Prominent companies in the Asia Pacific nurse call systems market include Ascom Holding AG, Honeywell International Inc., Siemens AG, Ametek Inc., Austco Communication Systems Pty Ltd, Intercall Systems Inc., Schrack Seconet AG, TigerConnect, Securitas AB, and Baxter International Inc. These companies are focusing on expansion, product innovation, and strategic mergers and acquisitions to enhance their market share and deliver innovative solutions to consumers.