The Clinical Alarm Management Market is expected to grow at a 13% annual rate through 2029.
In recent years, significant investments in the development of healthcare facilities and infrastructure have radically altered patient engagement and experience.
The growing use of clinical decision support tools and real-time communication systems, as a result of rapid advances in healthcare technology, is expected to increase demand for clinical alarm management.
Key Takeaways from Clinical Alarm Management Market Study
Clinical decision support tools and clinical alarm reporting software are increasingly being used in both developing and developed countries.
Clinical alarm reporting software aids in the identification of nonactionable alarms that can be completely adjusted or removed, resulting in an 80% reduction in ventilator alarms.
Clinical alarm management solutions, particularly central monitoring systems, have gained traction because they provide actionable intelligence to respond to alarm conditions with appropriate patient care or device management.
According to FMI, demand for clinical alarm management in hospitals and ambulatory surgical centres is expected to grow at a CAGR of 14% and 11%, respectively, over the forecast period.
Sales of clinical alarm management solutions are expected to be higher in North America and Western Europe than in developing regions.
Key Players Eyeing Greater Opportunities in Asia Pacific
Leading clinical alarm management market players are constantly focusing on expanding their operations across Asia Pacific.
Increasing investments in the digitalization of healthcare infrastructure, particularly in developing countries such as China and India, are likely to encourage various clinical alarm management solution providers to expand their operations in these countries.
Furthermore, with a slew of new innovations on the horizon, clinical alarm management market participants are gearing up to release advanced solutions and services for end users.
Zebra Technologies provides alarm management solutions that go beyond patient event notifications and secure text messaging.
The incorporation of new technologies such as the Internet of Things (IoT) in the healthcare sector, as well as the increasing use of big data analytics, has resulted in a paradigm shift in patient care delivery.
The rapid shift toward value-based healthcare is expected to fuel the growth of the clinical alarm management market in the coming years.
Find More Valuable Insights on Clinical Alarm Management Market
Future Market Insights' new offering provides an unbiased analysis of the global clinical alarm management market, including historical demand data (2014-2018) and forecast statistics for the period 2019-2029.
The study provides key insights into the clinical alarm management market across seven major regions, segmenting it by component (solution and services) and end user (hospitals, clinics, ambulatory surgical centers, long-term and palliative care centers, home care, and other end users).
Clinical Alarm Management Market: Segmentation
Component
Solution
Clinical Decision Support Tool
Central Monitoring System
Mobility Solution
Clinical Alarm Reporting Software
Alarm Auditing Software
Service
Consulting
Implementation and Integration
Monitoring and Analytics
End User
Hospitals
Clinics
Ambulatory Surgical Centres
Long-term and Palliative Care Centres
Home Care
Others
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