Nurse Call Systems Market

Nurse Call Systems Market Size by Technology (Wired Communication and Wireless Communication), Type (Buttons, Integrated Communication Systems, Intercoms and Mobile Systems), Application (Wanderer Control, Emergency Medical Alarms and Others), End User (Hospitals, ASCs/Clinics and Long-Term Care Facilities), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2023 to 2032

Base Year: 2022 Historical Data: 2019-21
  • Report ID: TBI-13641
  • Published Date: Aug, 2023
  • Pages: 238
  • Category: Healthcare
  • Format: PDF
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The global nurse call systems market was valued at USD 1,875.92 Million in 2022 and growing at a CAGR of 9.63% from 2023 to 2032. The market is expected to reach USD 4,704.44 Million by 2032. Growing demand for mobility equipment and a surge in the requirement for integrated and diversified platforms are growing the demand for the nurse call system market. It has been observed that there is a surge in the demand for satisfactory, effective and timely healthcare communication solutions for patient queries in hospitals. Several types of patients suffer from different types of diseases in hospitals and clinics. Hence, there is growing adoption of the latest and better ways for scaling the workflow, communication and management to attain quality patient care. Also, there is a growing prevalence of Alzheimer’s and chronic disease. These factors are eventually driving the growth of the nurse call systems market.

Market Introduction:

Nurse call systems are called call bell systems or nurse communications systems, which have become crucial in healthcare institutions. It helps the patients get in touch with healthcare professionals like nurses or carers when there is a need for assistance or in emergencies. The nurse call systems can improve the response time by streamlining communication, improving patient satisfaction and ensuring safety. These systems help in fast communication and quick response, enabling medical professionals to cater to the patient's requirements fast, resulting in better security and well-being. It can be very useful in crises or urgent needs when patients can request help, decreasing the risk of falls, medical issues and accidents. Nurse call systems have evolved much with wireless communication and digital technology advancement. The recent trend suggests that digital technology is replacing analogue wiring and offering better reliability and clarity with ease of installation. These systems have improved flexibility and scalability by removing the complex wire infrastructure. The advancement in technology has led nurse call systems to integrate with electronic health record (EHR) systems, which allow nurses to retrieve patient data, prioritize the call and record the response from the EHR, enabling seamless information exchange. Nurse call systems can also benefit from the growing demand for remote patient monitoring and home healthcare. The upgradation of the nurse call system can assist in real-time data collection, remote monitoring and smooth interaction between medical professionals and patients. Moreover, the growing senior population has increased the requirement for healthcare services, making nurse call systems crucial in hospitals, assisted living facilities and long-term care facilities to ensure the safety and well-being of older people. Patient safety and satisfaction are crucial in healthcare, and nurse call systems substantially contribute to patient safety by offering rapid communication and prompt response to patient calls and emergencies. It helps the patients in expressing their requirements to medical professionals, and thus this system helps in improving patient satisfaction.

Nurse Call Systems Market Size

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Recent Development
  • In March 2019: Hill-Rom agreed to acquire Voalte, Inc., the leading organization in real-time, mobile healthcare communications. The acquisition would help expand Hill-Rom’s superiority in healthcare communications and improve the organization’s digital and mobile communication platform and capabilities.
  • In April 2021: Honeywell’s Nurse Call System hospital announced receiving UL 1069 industry certification. It is considered a recognized North American standard for in-hospital communication systems. It also opens the windows for the hospitals and other senior living facilities in the Middle East region, which mandate this certification for their nurse call systems. It is helping the organization to expand its market share.   

Market Dynamics:

Drivers

Demand for vigilant and responsive system in hospital There is a demand for a vigilant and responsive support system in hospitals. Hence, the nursing staff is expected to be attentive to offering high-quality healthcare services and patent safety. Using nurse call systems can help healthcare organizations achieve smooth communications and streamline nursing actions. Moreover, these nurse-call systems assist in prioritizing nursing calls based on emergencies and types of patient requests in healthcare institutions. This system has become crucial in supporting the present nursing staff in smoothly performing their duties in the best way possible in assisted living centres and hospitals. It improves the productivity and quality of nursing services in healthcare institutions with comparatively new and inexperienced nurses. All these factors are driving the nurse call systems market.

Restraints:

High implementation cost – The integration communication system is built on many factors like hardware, software and training of the medical staff, leading to high investment costs in the implementation by hospitals, home care facilities and clinics, among others. Moreover, there is a constraint of stringent regulatory policies regarding data breaches. All these factors are acting as restraints for the nurse call systems market.

Opportunities:

Growing geriatric population – Based on one of the studies, in 2022, 1 in 6 people in the world will be age 60 years and more by 2030. At present, the population share aged 60 and more has increased from 1 Billion to around 1.4 Billion, and it is estimated that the global population of people aged 60 years and more will double, i.e. around 2.1 Billion by 2050. These facts would create the demand for more nurse call systems in hospitals and clinics, among others, in the future. Also, many countries focus on offering better healthcare facilities and services. Many factors, like the growing dependency ratio and baby boomers' retirement, demand social care and health care services for the senior population. All these factors eventually drive the nurse call systems market in the forecast period.

Regional segmentation analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America emerged as the largest market for the global nurse call systems market, with a 43.65% share of the market revenue in 2022. It is attributed to the growing demand for more technologically sophisticated systems and much focus on improved efficiency and patient safety systems, especially for old people in healthcare institutions. The US has a well-established healthcare infrastructure, and more focus is given to patient safety and satisfaction. Healthcare spending has also increased. These factors are driving the nurse call systems in the region. Nurse call systems can be easily integrated with other healthcare technologies with the advancement in technology in the region.

North America Region Nurse Call Systems Market Share in 2022 - 43.65%

 

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  • Based on one of the studies, in 2019, there were around 5.8 million Americans who were suffering from Alzheimer’s, and this number is anticipated to grow up to 14 million by 2050. Moreover, it is also stated that from 2000 to 2017, people who died from Alzheimer’s disease increased by 145%. Every 1 in 3 senior people are dying because of this disease or some type of dementia. All these factors are driving the nurse call system market.
Technology Segment Analysis

The technology segment is divided into wired communication and wireless communication. The wired communication segment dominated the market, with a market share of around 53.55% in 2022. Though wireless communication technology is growing at the fastest pace with the advancement in technology, wired communication technology has the highest market share. Many leading players are offering integrated solutions like data saved on the monitor screen as the summation of all the readings from other systems. Hospitals are focusing on their facilities for providing real-time information by integrating advanced technology systems.

Type Segment Analysis

The type segment is divided into buttons, integrated communication systems, intercoms and mobile systems. The integrated communication systems segment dominated the market, with a market share of around 28.87% in 2022. The use of digital, wireless and integrated solutions has made modern nurse call systems responses more optimized. It has enhanced efficiency and improved the communication the healthcare institutions. As technology advances, nurse call systems are anticipated to have more advanced capabilities like mobile applications, speech recognition, and AI to improve patient care and experience.

Application Segment Analysis

The application segment is divided into wanderer control, emergency medical alarms and others. The wanderer control segment dominated the market, with a market share of around 37.13% in 2022. The focus on making the most effective healthcare system leads to more investment in the wanderer control segment. It helps track patients within a set location to guarantee their protection inside healthcare institutions.

End User Segment Analysis

The end user segment is divided into hospitals, ASCs/clinics and long term care facilities. The hospitals segment dominated the market, with a market share of around 55.06% in 2022. It is attributed to the surge in emergency cases. Also, the patient flow is more in hospitals for better facilities due to the incorporation of more sophisticated clinical alert devices. For more critical treatment and surgeries, people generally prefer hospitals.

Some of the Key Market Players:
  • Cornell Communications
  • Rauland Corporation
  • Stanley Healthcare
  • Ascom Holding AG
  • TekTone Sound and Signal Mfg., Inc.
  • Honeywell International, Inc.
  • Critical Alert Systems LLC
  • Austco Healthcare
  • JNL Technologies
  • West-Com Nurse Call Systems, Inc.
  • Hill-Rom Holding, Inc.

Report Description: 

Attribute Description
Market Size Revenue (USD Billion)
Market size value in 2022 USD 1,875.92 Million
Market size value in 2032 USD 4,704.44 Million
CAGR (2023 to 2032) 9.63%
Historical data 2019-2021
Base Year 2022
Forecast 2023-2032
Region The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
Segments Technology, Type, Application and End User

Frequesntly Asked Questions

North America region emerged as the largest market for the nurse call systems.

The market's growth will be influenced by demand for vigilant and responsive system in hospital.

High implementation cost could hamper the market growth.

Growing geriatric population will provide huge opportunities to the market.

1. Introduction
    1.1. Objectives of the Study
    1.2. Market Definition
    1.3. Research Scope
    1.4. Currency
    1.5. Key Target Audience

2. Research Methodology and Assumptions

3. Executive Summary

4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis By Technology
          4.3.2. Market Attractiveness Analysis By Type
          4.3.3. Market Attractiveness Analysis By Application
          4.3.4. Market Attractiveness Analysis By End User
          4.3.5. Market Attractiveness Analysis By Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. Demand for vigilant and responsive system in hospital
    5.3. Restraints
          5.3.1. High implementation cost
    5.4. Opportunities
          5.4.1. Growing geriatric population
    5.5. Challenges
          5.5.1. Economic slowdown

6. Global Nurse Call Systems Market Analysis and Forecast, By Technology
    6.1. Segment Overview
    6.2. Wired Communication
    6.3. Wireless Communication

7. Global Nurse Call Systems Market Analysis and Forecast, By Type
    7.1. Segment Overview
    7.2. Buttons
    7.3. Integrated Communication Systems
    7.4. Intercoms
    7.5. Mobile Systems

8. Global Nurse Call Systems Market Analysis and Forecast, By Application
    8.1. Segment Overview
    8.2. Wanderer Control
    8.3. Emergency Medical Alarms
    8.4. Others

9. Global Nurse Call Systems Market Analysis and Forecast, By End User
    9.1. Segment Overview
    9.2. Hospitals
    9.3. ASCs/Clinics
    9.4. Long Term Care Facilities

10. Global Nurse Call Systems Market Analysis and Forecast, By Regional Analysis
    10.1. Segment Overview
    10.2. North America
          10.2.1. U.S.
          10.2.2. Canada
          10.2.3. Mexico
    10.3. Europe
          10.3.1. Germany
          10.3.2. France
          10.3.3. U.K.
          10.3.4. Italy
          10.3.5. Spain
    10.4. Asia-Pacific
          10.4.1. Japan
          10.4.2. China
          10.4.3. India
    10.5. South America
          10.5.1. Brazil
    10.6. Middle East and Africa
          10.6.1. UAE
          10.6.2. South Africa

11. Global Nurse Call Systems Market-Competitive Landscape
    11.1. Overview
    11.2. Market Share of Key Players in Global Nurse Call Systems Market
          11.2.1. Global Company Market Share
          11.2.2. North America Company Market Share
          11.2.3. Europe Company Market Share
          11.2.4. APAC Company Market Share
    11.3. Competitive Situations and Trends
          11.3.1. Product Launches and Developments
          11.3.2. Partnerships, Collaborations, and Agreements
          11.3.3. Mergers & Acquisitions
          11.3.4. Expansions

12. Company Profiles
    12.1. Cornell Communications
          12.1.1. Business Overview
          12.1.2. Company Snapshot
          12.1.3. Company Market Share Analysis
          12.1.4. Company Product Portfolio
          12.1.5. Recent Developments
          12.1.6. SWOT Analysis
    12.2. Rauland Corporation
          12.2.1. Business Overview
          12.2.2. Company Snapshot
          12.2.3. Company Market Share Analysis
          12.2.4. Company Product Portfolio
          12.2.5. Recent Developments
          12.2.6. SWOT Analysis
    12.3. Stanley Healthcare
          12.3.1. Business Overview
          12.3.2. Company Snapshot
          12.3.3. Company Market Share Analysis
          12.3.4. Company Product Portfolio
          12.3.5. Recent Developments
          12.3.6. SWOT Analysis
    12.4. Ascom Holding AG
          12.4.1. Business Overview
          12.4.2. Company Snapshot
          12.4.3. Company Market Share Analysis
          12.4.4. Company Product Portfolio
          12.4.5. Recent Developments
          12.4.6. SWOT Analysis
    12.5. TekTone Sound and Signal Mfg., Inc.
          12.5.1. Business Overview
          12.5.2. Company Snapshot
          12.5.3. Company Market Share Analysis
          12.5.4. Company Product Portfolio
          12.5.5. Recent Developments
          12.5.6. SWOT Analysis
    12.6. Honeywell International, Inc.
          12.6.1. Business Overview
          12.6.2. Company Snapshot
          12.6.3. Company Market Share Analysis
          12.6.4. Company Product Portfolio
          12.6.5. Recent Developments
          12.6.6. SWOT Analysis
    12.7. Critical Alert Systems LLC
          12.7.1. Business Overview
          12.7.2. Company Snapshot
          12.7.3. Company Market Share Analysis
          12.7.4. Company Product Portfolio
          12.7.5. Recent Developments
          12.7.6. SWOT Analysis
    12.8. Austco Healthcare
          12.8.1. Business Overview
          12.8.2. Company Snapshot
          12.8.3. Company Market Share Analysis
          12.8.4. Company Product Portfolio
          12.8.5. Recent Developments
          12.8.6. SWOT Analysis
    12.9. JNL Technologies
          12.9.1. Business Overview
          12.9.2. Company Snapshot
          12.9.3. Company Market Share Analysis
          12.9.4. Company Product Portfolio
          12.9.5. Recent Developments
          12.9.6. SWOT Analysis
    12.10. West-Com Nurse Call Systems, Inc.
          12.10.1. Business Overview
          12.10.2. Company Snapshot
          12.10.3. Company Market Share Analysis
          12.10.4. Company Product Portfolio
          12.10.5. Recent Developments
          12.10.6. SWOT Analysis
    12.11. Hill-Rom Holding, Inc.
          12.11.1. Business Overview
          12.11.2. Company Snapshot
          12.11.3. Company Market Share Analysis
          12.11.4. Company Product Portfolio
          12.11.5. Recent Developments
          12.11.6. SWOT Analysis
 

List of Table

1. Global Nurse Call Systems Market, By Technology, 2019-2032 (USD Million)

2. Global Wired Communication, Nurse Call Systems Market, By Region, 2019-2032 (USD Million) 

3. Global Wireless Communication, Nurse Call Systems Market, By Region, 2019-2032 (USD Million) 

4. Global Nurse Call Systems Market, By Type, 2019-2032 (USD Million)

5. Global Buttons, Nurse Call Systems Market, By Region, 2019-2032 (USD Million) 

6. Global Integrated Communication Systems, Nurse Call Systems Market, By Region, 2019-2032 (USD Million) 

7. Global Intercoms, Nurse Call Systems Market, By Region, 2019-2032 (USD Million) 

8. Global Mobile Systems, Nurse Call Systems Market, By Region, 2019-2032 (USD Million) 

9. Global Nurse Call Systems Market, By Application, 2019-2032 (USD Million) 

10. Global Wanderer Control, Nurse Call Systems Market, By Region, 2019-2032 (USD Million) 

11. Global Emergency Medical Alarms, Nurse Call Systems Market, By Region, 2019-2032 (USD Million) 

12. Global Others, Nurse Call Systems Market, By Region, 2019-2032 (USD Million) 

13. Global Nurse Call Systems Market, By End User, 2019-2032 (USD Million) 

14. Global Hospitals, Nurse Call Systems Market, By Region, 2019-2032 (USD Million) 

15. Global ASCs/Clinics, Nurse Call Systems Market, By Region, 2019-2032 (USD Million) 

16. Global Long Term Care Facilities, Nurse Call Systems Market, By Region, 2019-2032 (USD Million) 

17. North America Nurse Call Systems Market, By Technology, 2019-2032 (USD Million)

18. North America Nurse Call Systems Market, By Type, 2019-2032 (USD Million)

19. North America Nurse Call Systems Market, By Application, 2019-2032 (USD Million)

20. North America Nurse Call Systems Market, By End User, 2019-2032 (USD Million)

21. U.S. Nurse Call Systems Market, By Technology, 2019-2032 (USD Million)

22. U.S. Nurse Call Systems Market, By Type, 2019-2032 (USD Million)

23. U.S. Nurse Call Systems Market, By Application, 2019-2032 (USD Million)

24. U.S. Nurse Call Systems Market, By End User, 2019-2032 (USD Million)

25. Canada Nurse Call Systems Market, By Technology, 2019-2032 (USD Million)

26. Canada Nurse Call Systems Market, By Type, 2019-2032 (USD Million)

27. Canada Nurse Call Systems Market, By Application, 2019-2032 (USD Million)

28. Canada Nurse Call Systems Market, By End User, 2019-2032 (USD Million)

29. Mexico Nurse Call Systems Market, By Technology, 2019-2032 (USD Million)

30. Mexico Nurse Call Systems Market, By Type, 2019-2032 (USD Million)

31. Mexico Nurse Call Systems Market, By Application, 2019-2032 (USD Million)

32. Mexico Nurse Call Systems Market, By End User, 2019-2032 (USD Million)

33. Europe Nurse Call Systems Market, By Technology, 2019-2032 (USD Million)

34. Europe Nurse Call Systems Market, By Type, 2019-2032 (USD Million)

35. Europe Nurse Call Systems Market, By Application, 2019-2032 (USD Million)

36. Europe Nurse Call Systems Market, By End User, 2019-2032 (USD Million)

37. Germany Nurse Call Systems Market, By Technology, 2019-2032 (USD Million)

38. Germany Nurse Call Systems Market, By Type, 2019-2032 (USD Million)

39. Germany Nurse Call Systems Market, By Application, 2019-2032 (USD Million)

40. Germany Nurse Call Systems Market, By End User, 2019-2032 (USD Million)

41. France Nurse Call Systems Market, By Technology, 2019-2032 (USD Million)

42. France Nurse Call Systems Market, By Type, 2019-2032 (USD Million)

43. France Nurse Call Systems Market, By Application, 2019-2032 (USD Million)

44. France Nurse Call Systems Market, By End User, 2019-2032 (USD Million)

45. U.K. Nurse Call Systems Market, By Technology, 2019-2032 (USD Million)

46. U.K. Nurse Call Systems Market, By Type, 2019-2032 (USD Million)

47. U.K. Nurse Call Systems Market, By Application, 2019-2032 (USD Million)

48. U.K. Nurse Call Systems Market, By End User, 2019-2032 (USD Million)

49. Italy Nurse Call Systems Market, By Technology, 2019-2032 (USD Million)

50. Italy Nurse Call Systems Market, By Type, 2019-2032 (USD Million)

51. Italy Nurse Call Systems Market, By Application, 2019-2032 (USD Million)

52. Italy Nurse Call Systems Market, By End User, 2019-2032 (USD Million)

53. Spain Nurse Call Systems Market, By Technology, 2019-2032 (USD Million)

54. Spain Nurse Call Systems Market, By Type, 2019-2032 (USD Million)

55. Spain Nurse Call Systems Market, By Application, 2019-2032 (USD Million)

56. Spain Nurse Call Systems Market, By End User, 2019-2032 (USD Million)

57. Asia Pacific Nurse Call Systems Market, By Technology, 2019-2032 (USD Million)

58. Asia Pacific Nurse Call Systems Market, By Type, 2019-2032 (USD Million)

59. Asia Pacific Nurse Call Systems Market, By Application, 2019-2032 (USD Million)

60. Asia Pacific Nurse Call Systems Market, By End User, 2019-2032 (USD Million)

61. Japan Nurse Call Systems Market, By Technology, 2019-2032 (USD Million)

62. Japan Nurse Call Systems Market, By Type, 2019-2032 (USD Million)

63. Japan Nurse Call Systems Market, By Application, 2019-2032 (USD Million)

64. Japan Nurse Call Systems Market, By End User, 2019-2032 (USD Million)

65. China Nurse Call Systems Market, By Technology, 2019-2032 (USD Million)

66. China Nurse Call Systems Market, By Type, 2019-2032 (USD Million)

67. China Nurse Call Systems Market, By Application, 2019-2032 (USD Million)

68. China Nurse Call Systems Market, By End User, 2019-2032 (USD Million)

69. India Nurse Call Systems Market, By Technology, 2019-2032 (USD Million)

70. India Nurse Call Systems Market, By Type, 2019-2032 (USD Million)

71. India Nurse Call Systems Market, By Application, 2019-2032 (USD Million)

72. India Nurse Call Systems Market, By End User, 2019-2032 (USD Million)

73. South America Nurse Call Systems Market, By Technology, 2019-2032 (USD Million)

74. South America Nurse Call Systems Market, By Type, 2019-2032 (USD Million)

75. South America Nurse Call Systems Market, By Application, 2019-2032 (USD Million)

76. South America Nurse Call Systems Market, By End User, 2019-2032 (USD Million)

77. Brazil Nurse Call Systems Market, By Technology, 2019-2032 (USD Million)

78. Brazil Nurse Call Systems Market, By Type, 2019-2032 (USD Million)

79. Brazil Nurse Call Systems Market, By End User, 2019-2032 (USD Million)

80. Brazil Nurse Call Systems Market, By Application, 2019-2032 (USD Million)

81. Middle East and Africa Nurse Call Systems Market, By Technology, 2019-2032 (USD Million)

82. Middle East and Africa Nurse Call Systems Market, By Type, 2019-2032 (USD Million)

83. Middle East and Africa Nurse Call Systems Market, By Application, 2019-2032 (USD Million)

84. Middle East and Africa Nurse Call Systems Market, By End User, 2019-2032 (USD Million)

85. UAE Nurse Call Systems Market, By Technology, 2019-2032 (USD Million)

86. UAE Nurse Call Systems Market, By Type, 2019-2032 (USD Million)

87. UAE Nurse Call Systems Market, By Application, 2019-2032 (USD Million)

88. UAE Nurse Call Systems Market, By End User, 2019-2032 (USD Million)

89. South Africa Nurse Call Systems Market, By Technology, 2019-2032 (USD Million)

90. South Africa Nurse Call Systems Market, By Type, 2019-2032 (USD Million)

91. South Africa Nurse Call Systems Market, By Application, 2019-2032 (USD Million)

92. South Africa Nurse Call Systems Market, By End User, 2019-2032 (USD Million)

List of Figures 

1. Global Nurse Call Systems Market Segmentation

2. Global Nurse Call Systems Market: Research Methodology

3. Market Size Estimation Methodology: Bottom-Up Approach

4. Market Size Estimation Methodology: Top-Down Approach

5. Data Triangulation

6. Porter’s Five Forces Analysis 

7. Value Chain Analysis 

8. Global Nurse Call Systems Market Attractiveness Analysis By Technology 

9. Global Nurse Call Systems Market Attractiveness Analysis By Type  

10. Global Nurse Call Systems Market Attractiveness Analysis By Application 

11. Global Nurse Call Systems Market Attractiveness Analysis By End User 

12. Global Nurse Call Systems Market Attractiveness Analysis By Region

13. Global Nurse Call Systems Market: Dynamics

14. Global Nurse Call Systems Market Share By Technology (2023 & 2032)

15. Global Nurse Call Systems Market Share By Type (2023 & 2032)

16. Global Nurse Call Systems Market Share By Application (2023 & 2032)

17. Global Nurse Call Systems Market Share By End User (2023 & 2032)

18. Global Nurse Call Systems Market Share By Regions (2023 & 2032)

19. Global Nurse Call Systems Market Share By Company (2022)

This study forecasts revenue at global, regional, and country levels from 2019 to 2032. The Brainy Insights has segmented the global nurse call systems market based on below mentioned segments:

Global Nurse Call Systems Market by Technology:

  • Wired Communication
  • Wireless Communication

Global Nurse Call Systems Market by Type:

  • Buttons
  • Integrated Communication Systems
  • Intercoms
  • Mobile Systems

Global Nurse Call Systems Market by Application:

  • Wanderer Control
  • Emergency Medical Alarms
  • Others

Global Nurse Call Systems Market by End User:

  • Hospitals
  • ASCs/Clinics
  • Long Term Care Facilities

Global Nurse Call Systems by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa

Methodology

Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:

MARKET RESEARCH PROCESS

Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

  • The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
  • Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations. 
  • We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:
    • Import & Export Data
    • Business Trade Information
    • Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

  • Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
  • Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

  • Evaluating the penetration level and usage rates of the product.
  • Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

  • Applying demographic along with psychographic segmentation for market evaluation
  • Determining the Micro and Macro-economic indicators for each region 
  • Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

  • Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
  • Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

  • CXOs and VPs of leading companies’ specific to sector
  • Purchasing managers, technical personnel, end-users
  • Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

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