Hospital Security Systems Market Size, Share, Growth Analysis, By Product(Access Control Systems (Smart Cards, Readers, Biometric Systems {Fingerprint Recognition Systems, Facial Recognition Systems), By Service(System Design, Installation, Integration, Other Services), By Surveillance System(Video Surveillance, Surveillance Cameras), By Application(Surgical Equipment, Medical Devices), By End-User(Hospital, Clinics), By Region - Industry Forecast 2024-2031

Global Hospital Security Systems Market size was valued at USD 98 billion in 2022 and is poised to grow from USD 115 billion in 2023 to USD 405.6 billion by 2031, growing at a CAGR of 17.4% in the forecast period (2024-2031).

The healthcare business has succumbed to the pressures of rising security hazards throughout the world, with hospitals being the primary target since they are the most easily accessed properties and their infrastructure is valuable to a wide range of criminals. According to the International Association for Healthcare Security & Safety's crime and security trends survey, 154 gunshots were reported within health care institutions countrywide between 2011 and 2020. According to the poll, more than 98 percent of all health-care institutions in the United States "experience violent and criminal occurrences." Hospitals have a unique problem in balancing security and safety while still delivering care and medical services under financial limits. This has resulted in a surge in the market for hospital security systems in an effort to deliver great treatment to patients while also providing safety and security to employees and visitors.

The growing need for healthcare providers to comply with state and federal laws, as well as the need to protect healthcare facilities from theft, assault, and other criminal activities, as healthcare organisations deal with sensitive issues and patient information, are driving the growth of this market. The huge increase in demand for integrated solutions for security, facilities, and data management as a result of hospitals' dwindling margins presents further growth potential for the hospital security systems industry. However, the expensive cost of these systems, cyber security issues, a lack of awareness in developing nations, and inadequate training programmes for the security and safety of these systems are limiting the market's growth.

Intrusion detection, video surveillance, access control, and emergency communication systems are all part of these systems. The hospital security systems market is being pushed by severe industry rules for patient and information protection, the growing threat of bioterrorism, an increase in patient and staff assaults, and increased demand for better security systems. The worldwide security systems market has reaped considerable potential from the healthcare sector, owing to the healthcare industry's strong expansion in recent years and a rising requirement within the healthcare industry to provide improved asset protection.

US Hospital Security Systems Market is poised to grow at a sustainable CAGR for the next forecast year.