Clinical Alarm Management Market Global Size, Future Scope, Demands and Projected Industry Growths to 2023

Market Synopsis
Market Research Future (MRFR) proposes that the global clinical alarm management market 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.

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