Clinical Alarm Management Market is Expected to Reach $5.4 billion | MarketsandMarkets.

Chicago, June 22, 2023 (GLOBE NEWSWIRE) -- In the near future, the clinical alarm management industry is poised for significant advancements driven by emerging technologies and increased focus on patient safety. Smarter alarm systems leveraging AI and ML algorithms will reduce alarm fatigue and provide more accurate alerts, while integration with EHR platforms will enable seamless data sharing and comprehensive patient monitoring. Wearable devices and remote monitoring will enable continuous monitoring of vital signs, triggering timely interventions. Customization, enhanced data analytics, regulatory guidelines, and industry collaborations will further contribute to improving alarm safety and optimizing patient care. The future of clinical alarm management promises a more efficient and effective system that enhances patient outcomes and mitigates risks.

Clinical Alarm Management market in terms of revenue was estimated to be worth $3.3 billion in 2022 and is poised to reach $5.4 billion by 2027, growing at a CAGR of 10.4% from 2022 to 2027 according to a latest report published by MarketsandMarkets™. Alarms are occurring more frequently, regardless of priority, as a result of the rising patient population and the increased need for healthcare. As a result, alarm weariness has developed (sensory overload when clinicians are exposed to an excessive number of alarms). The main issue influencing the adoption of clinical alarm management systems and solutions as safety measures for healthcare providers is alarm fatigue. Given the rising illness prevalence and expanding elderly population, their ability to reduce costs and promote better patient management is a key driver of market expansion.

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Clinical Alarm Management Market Scope:

Report Coverage	Details
Market Revenue in 2022	$3.3 billion
Estimated Value by 2027	$5.4 billion
Growth Rate	Poised to grow at a CAGR of 10.4%
Market Size Available for	2020-2027
Forecast Period	2022–2027
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	Component, Product, End User, And Region
Geographies Covered	North America (US, and Canada, Mexico), Europe (Germany, France, UK, Italy, Spain, and the RoE), Asia Pacific (Japan, China, India, and RoAPAC), RoW
Report Highlights	Updated financial information / product portfolio of players
Key Market Opportunities	Growing adoption of EHRs
Key Market Drivers	Increasing alarm fatigue

Clinical Alarm Management market major players covered in the report, such as:

• Koninklijke Philips N.V. (Netherlands)
• Vocera Communications (US)
• GE Healthcare (US)
• Ascom (Switzerland)
• Spok Inc. (US)
• Masimo (US)
• Connexall (Canada)
• Capsule Technologies Inc. (US)
• Cornell Communications (US)
• Mobile Heartbeat (US)
• Drägerwerk AG & Co. KGaA (Germany)
• Shenzhen Mindray Bio-Medical Electronics Co. Ltd. (China)
• Baxter (US)
• Intercall Systems Inc. (US)
• Medtronic (Ireland)
• Johnson Controls (Ireland)
• West-Com Nurse Call Systems (US)
• Critical Alert (US)
• CSinc (India)
• Live Sentinel (US)
• Amplion Clinical Communications Inc. (US)
• Cerner Corporation (US)
• Alpha Communications (US)
• Fujian Huanyutong Technology Co. Ltd. (China)
• Tunstall Group (UK)
• and Among Others

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The study categorizes the clinical alarm management market into the following segments and subsegments:

By Component

• Solutions
• Services

By Product

• Nurse call systems
• Physiological monitors
• EMR integration systems
• Ventilators
• Other products

By End User

• Hospitals
• Long-term care centers
• Ambulatory care centers & home care settings Passive CDSS

By Region

• North America
  • US
  • Canada
• Mexico
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe (RoE)
• Asia Pacific
  • Japan
  • China
  • India
  • Rest of APAC (RoAPAC)
• RoW

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The key stakeholders in the Clinical Alarm Management market include:

• Healthcare Providers: Healthcare providers, including hospitals, clinics, and long-term care facilities, are primary stakeholders in the Clinical Alarm Management market. They rely on alarm management systems to monitor patient conditions and ensure timely intervention when alarms are triggered. Healthcare providers play a crucial role in implementing and optimizing alarm systems, training staff, and adhering to regulatory guidelines.
• Alarm System Manufacturers: Companies that design, develop, and manufacture clinical alarm systems are vital stakeholders in the market. These manufacturers are responsible for creating innovative and reliable alarm management solutions that meet the needs of healthcare providers. They work closely with healthcare organizations to understand their requirements, provide technical support, and continually improve their products based on industry trends and feedback.
• Patients and Caregivers: Patients and their caregivers are important stakeholders in the Clinical Alarm Management market. They directly benefit from alarm systems that help monitor their health conditions and ensure timely interventions. Patients and caregivers rely on alarm alerts to communicate critical information and seek appropriate medical attention. Their feedback and experience with alarm systems contribute to the ongoing improvement of alarm management practices.
• Regulatory Bodies and Standards Organizations: Regulatory bodies and standards organizations, such as the U.S. Food and Drug Administration (FDA), play a crucial role in setting guidelines and standards for alarm management. These stakeholders provide regulatory oversight to ensure patient safety, address concerns related to alarm fatigue, and establish industry-wide best practices. They collaborate with healthcare providers and manufacturers to develop guidelines that promote effective alarm management and reduce risks.
• Healthcare IT Vendors: Healthcare IT vendors provide software solutions and integration services that support Clinical Alarm Management. They offer electronic health record (EHR) systems, alarm management software, and interoperability solutions that enable seamless integration of alarm systems with other healthcare technologies. These vendors work closely with healthcare providers to ensure proper integration, data exchange, and interoperability of alarm management systems within the broader healthcare IT infrastructure.
• Research and Academic Institutions: Research and academic institutions contribute to the advancement of Clinical Alarm Management through ongoing research, data analysis, and the development of new technologies. They conduct studies to evaluate alarm system effectiveness, identify areas for improvement, and explore innovative approaches to alarm management. Their findings and insights shape the future direction of the field and influence the practices of healthcare providers and alarm system manufacturers.

These key stakeholders collectively drive the development, adoption, and optimization of Clinical Alarm Management solutions, with the ultimate goal of improving patient safety and healthcare outcomes.

Clinical Alarm Management Market Frequently Asked Questions (FAQs):

Q1. What is the total market value of Clinical Alarm Management Market report?

Q2. Which are the top companies holding the market share in Clinical Alarm Management Market?

Q3. Which are the largest regions for this Market?

Q4. What is the leading technology of Clinical Alarm Management Market?

Q5. What are the major drivers for this specific Market?

Q6. What are the upcoming key trends in the Clinical Alarm Management Market report?

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Recent Developments:

• In July 2022, Spok (US) partnered with inTechnology Distribution (Australia), Through this partnership, inTechnology relaunched the Spok Partner Program in the APAC channel. Through the partner program, inTechnology Distribution and Spok will offer various tools such as business planning, technical support, training, marketing, and co-development to support partners in scaling their respective businesses.
• In June 2022, Ascom (Switzerland) collaborated with German Healthcare Foundation (Germany). Through this collaboration, the German Healthcare Foundation commissioned Ascom to roll out the Ascom Digistat software to improve care efficiency at three of its hospital sites. The contract value amounts to approximately EUR 1.4 million.
• In February 2022, Vocera partnered with Jupiter Medical Center to further enhance team communication and collaboration across the 248-bed hospital. Vocera’s solutions will help to achieve several clinical and operational objectives, including streamlining communication among clinicians, fostering patient and team safety, creating a quiet healing environment, and enhancing communication with patients’ families.

Reasons to Buy the Report:

The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market and the sub-segments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the Clinical alarm management market and provides them information on key market drivers, restraints, challenges, and opportunities.

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Company information

• Detailed analysis and profiling of additional market players (up to 20)

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