Thursday, June 4, 2020

Clinical Alarm Management Market Share to Register Steady Growth During 2019-2025

Clinical Alarm Management Market Research Report: Information by Product (Nurse Call Systems, Physiological Monitors, EMR Integration Systems, Bed Alarms, Ventilators, Mobility Solutions, Central Monitoring Systems, Clinical Decision Support [CDC] Tools and others), Component (Solutions and Services), End-User (Hospitals and Clinics, Long-Term Care (LTC) Centers and Ambulatory Care Centers & Home Care Settings) and Region (Americas, Europe, Asia-Pacific and Middle East & Africa) – Forecast till 2025
Market Synopsis
Market Research Future (MRFR) proposes that the global Clinical Alarm Management Market Share is slated to demonstrate 30.4% CAGR during the forecast period (2018-2023). Rising awareness regarding patient safety is highly favoring the market growth. Clinical alarms offer critical warnings to healthcare physicians or caretakers regarding a patient’s condition. Such devices are generally used in clinics and homes and hospitals. Clinical alarm management devices are developed using different non-invasive technology and software in order to monitor the condition of a patient. These solutions are extensively adopted by the ambulatory surgical centers and hospitals to respond to clinical alarms. They are implemented for some applications and include mobility solutions, clinical decision support tools, alarm auditing software, central monitoring systems, and clinical alarm reporting software.
Market Potential and Pitfalls
The clinical alarm is an essential solution for proper patient monitoring during critical conditions, the safety of the patients, and alert the healthcare staff regarding changes in a patient’s condition. Clinical alarm management is high in demand in clinics, hospitals, intensive care units, and healthcare facilities owing to the rising awareness regarding patient safety, increasing government mandates regarding the safety of the patients, and surging demand for best practices in healthcare centers and hospitals.
The market’s course is chiefly directed by the rising incidences of chronic diseases, need for cost-containment in the healthcare delivery, growth in the geriatric population, and increasing prominence of mHealth tools and big data.
On the contrary, sleep disruption caused due to noise, noise fatigue, and an unpleasant environment for the staff, patients, as well as families due to the noise of the alarm are some of the major concerns considered to vitiate the market growth throughout the appraisal period. Additionally, the unstandardized integrated alarm systems are likely to deter the market growth to a large extent.
Global Clinical Alarm Management Market: Segmental Analysis
The global clinical alarm management market has been segmented on the basis of component, product, and end-user.
By mode of product, the global clinical alarm management market has been segmented into physiological monitors, nurse call systems, bed alarms, EMR integration systems, mobility solutions, ventilators, clinical decision support tools, and central monitoring systems. Among these, the EMR integration systems segment is likely to occupy a significant share in the global market. The growth is credited to the burgeoning adoption of EHRs and interoperability solutions in the healthcare organizations, shift of POC diagnostics from hospitals to home care settings, rising healthcare reforms and regulatory requirements, and the need for integrated healthcare systems in order to improve the outcome and quality of healthcare systems.
By mode of component, the global clinical alarm management market has been segmented into services and solutions. Among these, the solutions segment is predicted to occupy a significant share. The growth is credited to the frequent need for improvements and upgrades in the software applications.
By mode of end-users, the global clinical alarm management market has been segmented into long-term care centers, hospitals, and ambulatory care centers & home care settings.
Regional Insights
Geographically, the clinical alarm management market span across regions namely, Europe, America, Asia-Pacific, and the Middle East and Africa.
Considering the global scenario, the American region is considered to dominate the global clinical alarm management market. Growing awareness regarding patient safety methods, increased healthcare infrastructure, and innovation by the healthcare companies are likely to influence the market. Moreover, awareness programs associated with clinical alarm management by organizations like the American Association of Critical-Care Nurses and Association for the Advancement of Medical Instrumentation are likely to add an impetus to the growth of the market.
Europe is predicted to occupy the second position due to the rising support from the government for the healthcare sector and surging awareness programs conducted by various foundations are estimated to contribute to the market growth. Factors like huge patient population and the increased number of hospitals in this region are highly influencing the market growth.
The Asia Pacific region is assumed to be the fastest growing region due to the presence of developing nations like China, India, and Australia. Moreover, with the increasing expenditure on healthcare by the government, innovation of latest technologies for instance launch of the mobile application in order to reduce noise in the hospitals, and development of software are some of the major factors contributing to the growth of the market in this region.
Industry Updates
February 11, 2019: A wholly owned subsidiary of Spok Holdings, Spok, Inc., will exhibit their latest evolution of integrated healthcare communication platform named Spok Care Connect. It comprises a clinical alarm and alerting management solution, a fully integrated healthcare contact center, and a multiple device application for the care team messaging.
Competitive Dashboard
The prominent players operating the global clinical alarm management market are Bernoulli Enterprise Inc., GE Healthcare, Medtronic, Ascom Holdings, Baxter, Mobile Heartbeat (Subsidiary of Hospital Corporation of America), Drager, Mindray Medical International, Capsule Technologie (Subsidiary of Qualcomm Life, Inc.), Vocera Communications, Connexall, Spok, Inc. (Subsidiary of Spok Holdings, Inc.), Masimo, and Koninklijke Philips N.V.
NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and Wherever Required We Will be Considering Covid-19 Footprints for a Better Analysis of Markets and Industries. Cordially Get in Touch for More Details.
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