The mass notification system in the healthcare market is expected to grow significantly, reaching USD 1,521.5 million in 2022 and projected to hit USD 3,326.5 million by 2027, with an impressive compound annual growth rate (CAGR) of 16.9% between 2022 and 2027.
According to FMI’s analysis, advancements in wireless technology and the increasing use of smart devices in healthcare are driving digital innovations that are transforming clinical and business processes. These advancements are creating significant growth opportunities for mass notification systems in healthcare.
The ongoing digital revolution is highlighting the need for mass notification systems to ensure faster, safer, and more effective patient care, as well as quick responses in emergencies. Additionally, with the rise of the Internet of Things (IoT), providers of these systems are now focusing on integrating IoT technologies and offering both integrated and standalone solutions.
As the healthcare sector continues to expand rapidly in both developed and developing countries, numerous opportunities are expected to emerge for key players in the mass notification system market in the near future.
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According to the report, the rise of IoT is also generating potential growth opportunities for service providers of mass notification systems in healthcare to integrate their solutions with IoT technologies in order to provide standalone systems. Moreover, the growing need for real-time communication solutions for enhanced communication services is also one of the major factors boosting the growth of the mass notification system in the healthcare market.
Target of Operational Expansion in Western Europe and Asia Pacific
Providers of mass notification system in healthcare are continuously focusing on increasing their businesses across countries in Western Europe and Asia Pacific such as Germany, U.K., India, and China. The implementation of various regulations in the healthcare sector of these countries is creating potential growth opportunities for the mass notification system in the healthcare market.
Furthermore, continuous increases in healthcare spending along with robust economic growth of these countries are propelling the growth of the mass notification system in the healthcare market.
For instance, according to the Economic Intelligence Unit, healthcare spending in Western Europe and the Asia Pacific is expected to increase with a CAGR of ~5% and ~6% respectively.
Increasing Demand for Real-time Communication System
Most healthcare organizations are majorly focusing on real-time communication systems to provide instant and secure messages which is creating potential growth opportunities for the mass notification system in the healthcare market.
Moreover, various healthcare organizations are ready to invest in advanced technologies such as distributed-recipient mass notification systems, which are expected to be one of the key growth opportunities for providers of mass notification systems in healthcare platforms.
Advancement in IT Systems and Healthcare Technologies
Rapid advancements in IT systems and healthcare technologies play an important role in fueling the growth of the mass notification system in the healthcare market. With the rapid development of mobile health technology to improve the patient care experience and care team communication, the adoption of mass notification systems in healthcare is increasing.
Furthermore, increasing use cases of mass notification systems in healthcare is amplifying the competition and resulting in product developments and differentiation strategies by providers of mass notification systems in the healthcare sector.
Leading Key Players:
- Eaton Corporation
- Honeywell International Inc.
- Siemens AG
- AtHoc, Inc.–(BlackBerry Limited)
- Everbridge, Inc.
- ONSOLVE, LLC
- Singlewire Software, LLC
- Desktop Alert, Inc.
- Mircom Group of Companies
- Alert Media Inc.
- Spok, Inc.
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Mass Notification System in Healthcare Market Outlook by Category:
By Product Type:
- In-building Mass Notification System
- Outdoor Mass Notification System
- Distributed or Hybrid Mass Notification System
By End-User:
- Hospitals
- Clinics
- Nursing Home
- Long Term Care
- Ambulatory Surgical Centers (ASC’s)
By Region:
- North America
- Western Europe
- Eastern Europe
- Latin America
- Asia Pacific Excluding Japan
- Japan
- Middle East & Africa
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