The hospital segment is expected to be worth just under US$ 1.5 billion at the end of the forecast period, a mass notification system to have efficient communication through multiple paths that would save time, allowing the network to create a crisis response team.
New research report offers a comprehensive analysis of the “Mass Notification System in Healthcare Market: Long Term Care End User Segment Anticipated to Register High Y-o-Y Growth Rates Throughout the Forecast Period: Global Industry Analysis (2012 - 2016) and Opportunity Assessment (2017 - 2027)” The main objective of this report is to deliver insightful information and clear-cut facts pertaining to the growth trajectories of the market.
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Mass Notification Systems in Healthcare Enhance Business Operations
On account of the numerous benefits offered by mass notification systems, healthcare organizations worldwide have begun to deploy these systems to optimize their communication systems and run their businesses efficiently. For e.g. – An article in the Health Facilities Management publication mentioned two cases where healthcare organizations had adopted mass notification systems to enhance their business operations.
The first was Renown Health – an American non-profit healthcare centre that turned to mass notification systems to improve on-call staff communication, stroke alerts, and communication systems.
The second was PIH Health – an American non-profit delivery network that installed a mass notification system to have efficient communication through multiple paths that would save time, allowing the network to create a crisis response team.
Non-Familiarity and Privacy Concerns in Mass Notification System in Healthcare Market
A major factor restraining the unencumbered growth of the mass notification system in healthcare market is the lack of awareness of system capabilities and minimal testing thereof. Often, nurses and healthcare professionals fail to understand the system functionalities and are thus unable to use the mass notification systems to the fullest.
There is a lack of adequate infrastructure to handle such systems posing a challenge to the adoption rate of mass notification system in healthcare market. Furthermore, mass notification systems naturally contain a huge database of patient information comprising names, addresses, and phone numbers.
This data is a critical component of the mass notification system in healthcare but patients can have natural concerns such as privacy, data integrity and security that need to be properly addressed.
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Hospitals to Lose Share in Mass Notification System in Healthcare Market
Hospitals had a market share of approx. 47% in the mass notification systems in healthcare market by end users at the end of 2017 but are predicted to lose a massive 340 BPS till 2027. The hospital segment is expected to be worth just under US$ 1.5 billion at the end of the forecast period.
The maximum CAGR of 18.2% during this time is likely to be in the long term care segment and companies in the mass notification systems in healthcare market would do well to take this into account.
High Cost Dampener for Mass Notification System in Healthcare Market Growth
A constraint faced by the healthcare sector, particularly in APEJ and Latin America is that all-important question of cost. As these regions have a comparatively lower income than their developed counterparts, national governments often don’t have the required funds to invest in expensive healthcare systems.
This is compounded by the lack of skilled labour and high unemployment in these populous nations. A few regions such as MEA are heavily dependent on expatriate workers because of a shortage of local employees and more than 70% of employees there were expatriates in 2015.
Furthermore, the cost of healthcare services and infrastructure is anticipated to rise even higher in the years ahead, boding ill for the mass notification system in healthcare market in these crucial future growth regions.
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