According to a new market research report published by Credence Research “Healthcare Security Systems Market (Type – Electronic Access Control Systems, Video Surveillance, Intercom & Emergency Communication Systems, Perimeter Protection, Vehicle Tracking & Recognition and Others) – Growth, Future Prospects and Competitive Analysis, 2017 – 2025”, the global healthcare security systems market was valued at US$ 5.92 Bn in 2016.
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Market Insights
Healthcare security systems refer to the equipment and solutions used to ensure safety and security within a healthcare facility. These systems encompass safety for various entities such as patients, healthcare personnel, physical property and critical healthcare data, among others. Some of the key aspects of healthcare security systems include access control, video surveillance, emergency communication, perimeter protection and vehicle tracking, among others. The deployment of security systems within a healthcare facility ensures enhanced secured environment for both patients and healthcare professionals while enabling optimum functioning within the healthcare facility.
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The overall healthcare security systems market is highly driven by the growing need to secure healthcare facilities against different types of attacks and data thefts. In addition, stringent government norms especially in the developed regions such as North America and Europe have further fueled the adoption of security systems in healthcare facilities. Majority of the healthcare facilities inclined towards developing sophisticated infrastructure in order to ensure high-quality service to the patients. However, decreasing investments towards the construction of new facilities in these regions pose as a major restraint for the healthcare security systems market in North America and European countries. Meanwhile, rising number of private hospitals especially, in countries such as China, India and Thailand, among others have been driving the market in the Asia Pacific region. Subsequently, the overall healthcare security systems market is estimated to witness continued growth over the forecast period from 2017 to 2025.
The overall healthcare security systems market is categorized on the basis of type and geography. In 2016, video surveillance formed the largest segment in the overall market worldwide, contributing to nearly 25% of the global revenue. On the basis of geography, the market is segmented into North America, Europe, Asia Pacific and Rest of the World. The overall market is led by the North America region, primarily due to high expenditure over healthcare infrastructure coupled with the existence of advanced healthcare infrastructure.
The overall healthcare security systems market comprises large number of global player offering wide range of products across multiple regional markets. One of the major trends followed by these companies is entering into partnerships as well as acquiring technology companies operating in the security systems sector. For instance, in October 2017, Atos SE acquired Pursuit Healthcare Advisors, Conduent’s Healthcare Provider Consulting and Conduent’s Breakaway Group. The range of acquisitions is aimed at strengthening their position in the fast growing U.S. Healthcare IT market. Similar instance includes acquisition of RSI Video Technologies by Honeywell International, Inc.
Key Trends
- Growing efforts to provide enhanced safety & security to patients and healthcare personnel
- Technological advancements in the security systems
- Partnerships as well as acquisition of technology companies for expanding product portfolio
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