New York, USA, Sept. 12, 2022 (GLOBE NEWSWIRE) -- Clinical Alarm Management Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Clinical Alarm Management Market Information By Product, Component, End User, And Region - Forecast till 2030", the market will reach USD 5.35 billion by 2030, at 18.8% CAGR.
Clinical Alarm Management Market Synopsis
Clinical alarms are alerts used to alert caregivers to potentially dangerous or urgent patient circumstances. Clinical alarms come in various forms, including nurse call systems, physiological monitors, bed alarms, and EMR integration systems, frequently used in hospitals, long-term care facilities, ambulatory care facilities, and home care settings. Clinical alarms were developed primarily to warn caregivers while at work. This tool is useful in reminding caregivers to give patients better care.
The clinical alarm management solution aids in reducing noise levels, streamlining workflow, and providing better patient care in medical facilities. The caregivers typically receive a clinical alarm for current or impending dangerous patient circumstances. Clinical alarm management is necessary to ensure the alarms function properly and effectively. The caregiver can attend to the patient properly and take the necessary action as quickly as possible in an emergency by lowering response time. The optimal clinical alarm management system enhances the efficiency of medical staff members and offers a precise response to issues encountered by patients at medical facilities.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 5.35 Billion |
| CAGR | 18.8% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Product Type, Application and End User |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Rise in prevalence of diabetes especially in the geriatric population |
| Increasing demand for cost-effective and high-quality clinical care |
Clinical Alarm Management Market Competitive Landscape:
The important companies in the clinical alarm management market are:
- Philips Healthcare
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd
- Ascom Holding AG
- Medtronic plc
- GE Healthcare
- Capsule Technologies, Inc.
- Vocera Communications
- Spok Inc., Connexall (GlobeStar Systems Inc.)
- Drägerwerk AG & Co. KGaA
Market U.S.P. Covered:
Market Drivers:
Long-term care facilities are medical facilities that offer a range of services, including both medical and personal care, to patients who are elderly or unable to live independently. People typically require long-term care when a health condition or impairment is serious and ongoing. Long-term care, such as following a heart attack or stroke, may become necessary. The market is primarily driven by the rising prevalence of chronic diseases and the growing global geriatric population. The sector will rise due to increased government initiatives to use clinical alarms in developed and developing nations.
It is anticipated that several initiatives by various organizations and the government to enhance the health of the elderly and disabled population using clinical alarms would promote corporate growth. In addition, governments have made significant investments in medical technology to support a variety of clinical tools, which should hasten the expansion of the industry.
Market Restraints:
Clinical alarm systems are intended to notify caretakers of potential patient problems, but if they are not properly handled, they might jeopardize patient safety. The industry is growing slowly due to a lack of product standards and a shortage of relevant expertise.
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Clinical Alarm Management Market COVID 19 Analysis
The global COVID-19 outbreak has caused a persistent decline in the healthcare industry. Communities aside, COVID-19 was a catastrophe for the major world economies, particularly the healthcare industry. Important parties modify their plans in response to the quickly shifting circumstances. The healthcare sector is expected to see severe long-term effects from COVID-19. Prioritized healthcare reforms would need to be implemented by nations and significant stakeholders until the situation is resolved. The development of telehealth has been hampered over the last few years by legislative and behavioral obstacles.
Due to the large number of people being admitted to hospitals due to the COVID 19 pandemic, one industry that could benefit is clinical alarm management. It is important and required to monitor patient health and to give patients proper effective treatment in healthcare facilities. The segment is expected to rise over the next two years, as many healthcare providers are now working on video conferencing and phone calls. Patients with mild symptoms were also required to consult online as part of the social distancing strategies. Additionally, it significantly lessened the strain on hospitals already overwhelmed with COVID-19 patient counts. Medical IoT devices in the patient's house are now utilized to maximize outpatient care and reduce follow-up visits; these devices can also be employed in an emergency.
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Clinical Alarm Management Market Segmentation
The market has been segmented by product: physiological monitors, EMR integration systems, mobility solutions, bed alarms, ventilators, central monitoring systems, nurse call systems, and clinical decision support (CDC) tools.
The clinical alarm management market has been sorted as solutions and services based on components.
Based on end-user, the clinical alarm management market has been sorted as hospitals and clinics, long-term care (LTC) centers, and ambulatory care centers & home care settings.
Clinical Alarm Management Market Regional Insights
Geographically, the Americas retained a sizeable market share because of the region's growing alarm fatigue cases, knowledge of patient safety practices, strong healthcare infrastructure, and openness to implementing cutting-edge technologies. Due to the growing load of alarm fatigue, good government support for the healthcare sector, a sizable patient population, and the rising number of hospitals in the UK, Germany, and France, Europe would trail the Americas in terms of income.
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Due to its large population base, growing geriatric population and increasing prevalence of chronic diseases, rising awareness of clinical alarm management, and growing demand for affordable and high-quality clinical care in countries like India, China, Japan, and Australia, the Asia-Pacific region is predicted to experience the fastest growth in the clinical alarm management market. During the evaluation, the Middle East would dominate the market. This market's expansion is supported by investments made by many Middle Eastern nations to upgrade their healthcare systems.
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