“The global nurse call systems market accounted to US$ 1,252.65 Mn in 2018 and is expected to grow at a CAGR of 10.3% during the forecast period 2020 – 2027, to account to US$ 2,936.83 Mn by 2027.” The Asia Pacific nurse call systems market is expected to grow at highest rate during the forecast period owing to driving factors such as significant rise in the incidences of the Alzheimer’s disease and other dementia, presence of the market and developments done by them. The market is also experiencing the growth of the assisted living centers that are likely to drive the growth of the Asia Pacific region.
Increasing Incidences of Alzheimer’s Diseases is expected to boost the market growth over the years
Alzheimer’s diseases is form of dementia and is a progressive disorder which eventually results in the loss of memory and deterioration in cognitive skills. The disease among the six leading causes of death in United States. According to the recent data published in 2019 by Alzheimer’s Association states that approximately 5.8 million Americans are suffering with Alzheimer’s and the number is expected to rise approximately up to 14 million by 2050.
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- Ascom Holding AG
- Honeywell International Inc.
- Siemens AG
- Azure Healthcare
- Intercall Systems Inc.
- SCHRACK SECONET AG
- STANLEY Healthcare
- Critical Alert Systems.
- Hill-Rom Services Inc.
In addition, it is also stated that from 2000 to 2017 the deaths due to Alzheimer’s disease has grown by 145%, one in every three senior person dies with the disease or the other form of the dementia. The cost incurred in the disease are rising in the region. It was estimated that by 2019 Alzheimer’s and other form of dementias will cost nearly US$ 290 billion and it is also estimated that by 2050 the cost can rise roughly up to US$ 1.1 trillion. For the seniors citizens living with the dementia are provided care of nearly 18.5 billion hours which is fairly valued approximately US$ 234 billion.Thus, the increasing incidences of Alzheimer’s diseases poses several opportunities for the nurse call systems market to grow during the forecast period.
Growing Numbers of Assisted Living Centers
Assisted living centers or the assisted living communities generally serve the people who requires help for their daily activities and some of the healthcare services. The centers or the communities are combination of the independence, companionship, privacy and have security and premises that resembles like homes. The rise in the Alzheimer’s diseases are leading to the growth of the assisted living care, there are approximately 28,9000 assisted living centers owing approximately 1 million licensed beds in the United States. The average number of the licensed beds in an assisted living center is 33.
In US, there are approximately, 42% of assisted living centers that are run independently and rest are organization with two or more communities that work together. The paying for the care is comparatively less than the average cost of a homemaker services. The average cost per year is approximately US$ 48,000 on the other hand the homemaker service cost is US$ 48,048 or for the home health aide is approximately US$ 50,336. Majority of the assisted living centers utilized some form of private funds to pay for the care services. Thus, the growing number of assisted living centers is expected to create a demand for the nurse call systems across the world.
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