Clinical Alarm Management Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI3696
Clinical alarm management market size is expected to grow significantly from 2019 to 2025.
Clinical alarm management provides high amount of security and privacy for handling isolated information including identity and health information. Clinical alarms are extensively used in long term centers and hospitals for maintaining patient health accurately as well as precisely. Rising importance and usage of mHealth tools along with big data will enhance clinical alarm management market growth. Increased usage of these alarms reduces the healthcare costs and minimizes the risk of medical errors that further augments the need for clinical alarms in the industry. Above-mentioned factors proves beneficial for the clinical alarm management industry growth.
Increased government initiatives in developed and developing countries for the application of clinical alarms will propel the industry growth. Numerous initiatives undertaken by other organizations and government to improve health of geriatric and handicap population with the help of clinical alarms is projected to foster business growth. Additionally, awareness regarding maintaining patient safety several investments in MedTech by government’s are undertaken to support various clinical tools should accelerate the business growth. However, lack of product standardization may hinder the clinical alarms industry growth.
Solutions segment will witness lucrative growth over the coming years. Numerous benefits offered by this software such as more accurate data reading. It enables the caregivers to make selective health decisions on fixing alarm protocols and parameter limit. Above-mentioned factors enhances the segmental demand.
Bed alarm segment will expand significantly during the analysis timeframe. Bed alarm provides easy and quick access to patient health for immediate treatment and specific health information that further excels the segmental growth. Extensive usage of these alarms in elderly population for obtaining accurate health conditions, significantly upsurges the business revenue size.
Long term care centers segment will witness substantial growth during forthcoming years. These centers provides medical care for all age group people with their daily activities and medical needs. Such centers are extensively dealing mainly with older population for continuous long-term care. These factors favor the segmental growth. Several benefits including cost-effective services and well-skilled staff accelerates the industry growth.
Asia Pacific clinical alarm management market will grow at similar trend during the forecast timeframe. Several factors such as developed infrastructure coupled with several government initiatives for effective patient care in this region should boost the regional growth. Furthermore, constant software innovation by the manufacturers in this region for developing productive clinical alarms is projected to propel the industry growth.
Renowned industry players recognized in clinical alarm management market include Dragerwerk, Baxter International, Mindray Medical International, GE Healthcare, Medtronic, Koninklijke Philips, Spok Holdings, Vocera Communications, Extension Healthcare and Connexall. Corporate players aim at new product expansion and product introduction to maintain their financial constancy and to endure in the industry. For instance, in May 2019, Masimo announced FDA clearance of Radius PPG a tether less sensor solution for significant patient monitoring. Such strategies and new product launch enhances the product portfolio of the firm.
Clinical Alarm Management Market By Component, 2014-2025 (USD Million)
Clinical Alarm Management Market By Product, 2014-2025 (USD Million)
- Physiological monitors
- Nurse call systems
- Bed alarms
- Anesthesia Machines
- Telemetry Monitors
- Feeding Pumps
Clinical Alarm Management Market By End-use, 2014-2025 (USD Million)
- Ambulatory surgical centers (ASCs)
- Long term and palliative care centers
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- South Africa
- Saudi Arabia
- Baxter International Inc.
- Drägerwerk AG,
- Extension Healthcare
- GE Healthcare
- Koninklijke Philips N.V.
- Mindray Medical International Limited
- Spok Holdings, Inc
- Vocera Communications
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