Healthcare Security Systems (HSS) Market booming with Highest Growth Rate!!

According to a new report by Market Research Future (MRFR), the global market for healthcare security systems is projected to expand radiantly at 9.5 % CAGR. Safety and protection of patients is an important goal for every hospital. Security system plays a vital role in the healthcare sector. Devices like radiofrequency identifiers, camera, alarms, and other types of security devices can be found for the security of resources and patients.

Facility managers in nursing homes, hospitals, and medical centers are handling a number of responsibilities like vulnerabilities and planning oversight to physical security to people and assessing risks. Healthcare security constantly deals with hectic emergency departments, constant visitor’s traffic, confidentiality requirements, and political threats. The public has gained awareness in physical security at nursing homes and hospitals and due to this security heads and facility managers have been asked to increase the rate of security measures.

Future Constraints and Drivers Affecting the Market Growth

With the increase in emphasis on patient’s wellness and security, growing patient tool, improving quality of care provided to patients, and the need for infant security in hospitals is increasing the demand for security systems. With cyber attacks becoming a common event, healthcare security system market is expected to propel in the coming years. Owing to the growing need to secure healthcare facilities have compelled several healthcare organizations to adopt latest security systems.

Meanwhile, high cost associated with security devices coupled with the unavailability of backup plans and system failure during an emergency might act as a hindrance to the growth of the Healthcare Security Systems (HSS) Market. Healthcare organizations spend approximately 4 % to 6 % of IT budget on security, which is a much low percentage compared to the investment made in the financial industry. The low capital explains why medical institutions experience cybercrimes. Moreover, security of medical devices are also abandoned as vendors do not find skilled developers. Also, expensive security devices like radiofrequency identifiers can restrain the growth of the market.

Global Healthcare Security Systems Market Segmentation

The global healthcare security systems market has been segmented on the basis of type, product, end-users, and region.

The market has been segmented into maintains and support service, system design and installations, and system integration based on type.

The market has been segmented into access control system, fire safety system, wireless locks, infant security system, chipper locks, radio frequency identification system, readers, smart cards, biometric systems, and video surveillance system based on product.

The market has been segmented into clinical decision support system vendors, EHR (electronic health record) and PHR (Personal Health Record) vendors, lab vendors, pharmaceuticals vendors, healthcare IT vendors, clinic and public health laboratories, standard developed organizations, HIS Vendor and Healthcare institutions (Hospitals, long-term care, Home care, Mental health), and others based  on end-users.

North America: Expected to Hold the Largest Market Share

North America is anticipated to hold the largest market share for healthcare security systems. Due to the frequently targeted hospitals with most easily accessible premises, the pressure of security risks is witnessed to grow in the healthcare industry. Hospitals cover a huge area and become a target for terrorism and crime. According to crime and security trends, in 2011 around 154 shooting has taken place in healthcare facilities and hospitals and 98 % of hospitals in the United States of America have experienced terrorism and crime. Moreover, with prominent players like STANLEY securities and BOSH securities systems, the US market is in the growing stage and will soon head towards maturity.

The prison population in Europe is growing at a rapid pace in European countries. According to the EU stats, there were approximately 643000 prisoners in Europe in 2012. The number increased by 7 % in 2013. With the growing crime rates and prisoners in European hospitals, healthcare institutions and organizations are taking major steps to protect customers, patients, and employees by installing healthcare security systems.

With the growing number of healthcare facilities in Asia Pacific regions, countries like India, China, and Thailand have offered huge growth opportunities to healthcare security system providers. Asia is expected to witness the highest growth rate in the coming years.

Industry News

G4S has launched a new portable security system designed to protect patients suffering from cognitive conditions or psychiatric disorders. Virtual Patient Watch is a security system that monitor patients and sends out an alarm if someone requires medical attention immediately or if someone tries to get out of the bed.

Competitive Analysis

Some of the prominent players operating the market growth are Allied Telesis Inc. (U.S.), Atos SE (Germany), ADT LLC dba ADT Security Services (U.S.), Johnson Controls (U.S), STANLEY Healthcare (France), Avigilon (Canada), Seico Security (U.S.), Cisco Systems Inc. (U.S.), and others. Some of the major vendors comprise Bosch Security Systems, Honeywell International Inc., Tyco Integrated Security, Siemens AG, Schneider Electric, Nedap Security Management, and more.

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

Contact:Market Research Future
Office No. 528, Amanora Chambers
Magarpatta Road, Hadapsar,
Pune – 411028
Maharashtra, India
+1 646 845 9312
Email: sales@marketresearchfuture.com