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Healthcare Security Systems Market Expected CAGR 9.5% | By Type, Surveillance System, Application, End-User – Forecast 2023
By inewswire


"Market Research Future"
This study covers the market dynamics and trends in major countries that are expected to influence the current market scenario and future status of the Global Healthcare Security Systems Market over the forecast period.

 

The Global Healthcare Security Systems Market is expected to grow at a CAGR of approximately 9.5% during the forecast period, 2018–2024.

Global Healthcare Security Systems Market Key Players:

Major players in the Global Healthcare Security Systems Market include Avigilon Corporation (Canada), Schneider Electric SE (US), Cisco Systems, Inc. (US), Tyco Security Products, Nedap Security Management, ADT LLC dba ADT Security Services (US), STANLEY Healthcare (France), Seico Security (US), Atos SE (Germany), Johnson Controls (US), Allied Telesis, Inc. (US), Siemens AG, Bosch Security Systems, Honeywell International, Inc., and others.

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Market Scenario:

Healthcare security systems embrace the overall physical security solutions installed at numerous healthcare facilities such as the Open Publication Distribution System (OPDs), assisted living facilities, ambulatory care centers, and hospitals. Moreover, security systems such as perimeter protection, access control system, intercom & emergency communication, and video surveillance are certain types of healthcare security systems.

Security systems play a vital role in improving the healthcare sector as privacy and protection of data and resources are valuable to the society. Patient protection for preserving their rights is another essential component to ethical healthcare. The key reason for protecting the patients is to give them a sense of confidence in the healthcare organization.

Nowadays, the facility managers in nursing homes, medical centers, and hospitals are supervising various responsibilities. Some of these responsibilities include assessing risks, planning and vulnerabilities oversight of physical security to protect people. Healthcare security deals with open access in multiple buildings, constant visitor’s traffic, confidentiality requirements, hectic emergency departments, property and information against political threats. Thus, healthcare security systems are playing a major role in the protection and security of patients.

G4S, an integrated security company launched the Virtual Patient Watch, a new portable security system to protect patients. It is designed to enhance the security and monitoring of patients who have cognitive conditions such as Alzheimer’s and dementia.

Factors such as the need to prevent healthcare facilities from assault, theft, and other criminal activities, as healthcare organizations deal with sensitive information and issues related to patients coupled with the rising need of healthcare providers to maintain compliance with state and federal laws are driving the global healthcare security systems market. However, cybersecurity concerns along with the high cost of these systems, the limited training programs regarding the security and safety of these systems and lack of awareness in developing countries are factors that are hampering the growth of the market.

Segmentation:

The Global Healthcare Security Systems Market is segmented on the basis of type, surveillance system, application, and end-user.

On the basis of type, the global healthcare security systems market can be segmented into CCTV system, access control systems, intrusion detection instruments, infant security system, security alarm, metal and explosive detectors, RFID tags, and others.

The access control systems are further segmented into biometric systems, smart cards, chipper locks, and X-Ray screening system.

The security alarm is further segmented into burglar alarms, fire alarm, carbon monoxide alarm, and others

On the basis of surveillance system, the global healthcare security systems market can be segmented into video surveillance, surveillance cameras, and others.

On the basis of application, the global healthcare security systems market can be segmented into surgical equipment tracking, medical devices tracking, document and data file tracking, patient tracking, monitoring, and others

On the basis of end-user, the global healthcare security systems market can be segmented into hospital, clinics, diagnostic centers, pharmacy, laboratories, and others.

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Regional Analysis:

The Global Healthcare Security Systems Market consists of four regions, namely, America, Europe, Asia-Pacific, and the Middle East and Africa.

Americas dominated the global healthcare security systems market over the forecast period. The dominance is majorly attributed to the compelled numerous healthcare organizations to adopt the latest security systems within their facilities. The risks of security are growing in the healthcare industry, as hospitals are being frequently targeted due to huge infrastructure and easy accessibility.  As per a data reported in 2014 by the US Department of Health and Human Services Office for Civil Rights, nearly 1.6 million people had their medical information stolen from healthcare providers. The bulk of those breaches were reported to be “disclosure/ unauthorized access,” while others were reported as “hacking” and “theft.” With players such as STANLEY securities and BOSH securities systems in the US, the market is already in the growth stage and soon heading towards maturity. Thus, all the healthcare institutes have made it crucial to install security systems in their organizations.

The upsurge in healthcare security systems will influence the rise in the prices of healthcare services in Europe. As the European economy is growing with a significant GDP, pricing will not be an issue for the European healthcare industry as long as good security and services are provided. With demand for healthcare security systems, the European market for healthcare security system is a growing market with huge potential.

Furthermore, with rising number of healthcare facilities in the Asia-Pacific region especially, in countries such as Thailand, India, and China are offering immense growth opportunities to the healthcare security system providers in the recent years. Thereby, the overall market is expected to experience sustained growth during the forecast period.

Table of Contents:

Chapter 1. Report Prologue

Chapter 2. Market Introduction

2.1 Definition

2.2 Scope of the Study

2.2.1 Research Objective

2.2.2 Assumptions

2.2.3 Limitations

Chapter 3. Research Methodology

3.1 Introduction

3.2 Primary Research

3.3 Secondary Research

3.4 Market Size Estimation

Chapter 4. Market Dynamics

4.1 Drivers

4.2 Restraints

4.3 Opportunities

4.4 Challenges

4.5 Macroeconomic Indicators

4.6 Technology Trends & Assessment

…Continued!

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