Clinical Alarm Management Market to Grow at 30.4% CAGR to 2023, Dominated by Products Like Nurse Call Systems, Physiological Monitors and EMR Integration Systems

Report analyzes clinical alarm management market and aims at estimating the market size and future growth potential of this market based on various segments such as component, product, end user, and region.
Growth of clinical alarm management market primarily driven by factors such as increasing alarm fatigue, high prevalence of chronic diseases, growth in the geriatric population, need for cost-containment in healthcare delivery, and rising prominence and usage of big data and mHealth tools.

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The global clinical alarm management market is expected to reach USD 1,724 million by 2023 from an estimated USD 457 million in 2018, at a CAGR of 30.4% during the forecast period.

The global clinical alarm management market is segmented into two broad categories—solutions and services. The services segment is expected to grow at the highest CAGR during the forecast period owing to the increasing adoption of clinical alarm management solutions, increasing alarm fatigue, high prevalence of chronic diseases, and indispensable and recurring nature of services.

The overall market size using clinical alarm management market size estimation processes as explained above the market was split into several segments and subsegments. In order to complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation and market breakdown procedures were employed, wherever applicable.

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The global clinical alarm management market is segmented into nurse call systems, physiological monitors, EMR integration systems, bed alarms, ventilators, and others (infusion pumps and pulse oximeters).The EMR integration systems segment is also expected to grow at the highest rate during the forecast period owing to the increased adoption of EHRs and other interoperability solutions in healthcare organizations.

The key players in the global clinical alarm management market areKoninklijke Philips (Netherlands), Vocera Communications (US), Ascom Holdings (Switzerland), Spok, Inc. (US), Bernoulli Enterprise (US), Connexall (Canada), Mobile Heartbeat (US), GE Healthcare (US), Capsule Technologie (US), and Masimo Corporation (US).

Some of the factors driving market growth in the APAC region are growing need for the implementation and integration of medical device and HCIT solutions in Asia to provide cost-effective and quality clinical care to patients, increasing healthcare expenditure in Japan, growing geriatric population, and the increase in disease prevalence.

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APAC region comprising Japan, China, India, and Rest of Asia Pacific offers high-growth opportunities for players in the clinical alarm management market. This segment is slated to register the highest CAGR during the forecast period.

In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The report also includes competitive analysis of the key players in this market along with their company profiles, product offerings, recent developments, and key market strategies.

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