Clinical Alarm Management Market Share | Trend Analysis, Production Scenario and Supply Forecast by 2028

According to Precision Business Insights (PBI), the latest report the global clinical alarm management market is expected to be worth USD 1,447.9 million in 2022 and projected to grow at an 21.6% CAGR over 2022 to 2028. The rising demand for healthcare and the growing patient population has increased the frequency of patient alarms, regardless of priority. This has led to alarm fatigue (sensory overload when clinicians are exposed to an excessive number of warnings). With rising disease prevalence and a growing geriatric population, clinical alarms have the potential to reduce costs and facilitate better patient management, which is a crucial contributor to market growth. However, the current lack of interoperability in healthcare solutions and the high investments required to build an adequate and supporting infrastructure for HCIT capabilities among end users are expected to limit the clinical alarm management market's growth in the coming years.

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The Long-Term Care Centres Segment is Dominating the Clinical Alarm Management Market:
The Long-Term Care Centres segment is expected to account for a larger revenue share and the market is expected to grow at a double-digit growth rate over the forecast years. Long-term care facilities are healthcare facilities that offer a wide range of services, including medical and personal care, to people who are unable to live independently and to geriatric patients. When a person has a severe, ongoing health condition or disability, they frequently require long-term care. Long-term care, such as after a heart attack or stroke, may be necessary unexpectedly. Clinical alarm management services and solutions are critical in long-term care facilities because the patients are either critically ill or elderly and require continuous monitoring and management of their health and wellness.

North America Leads Clinical Alarm Management Market:
North America is expected to hold a significant market share in the global Clinical Alarm Management market. It is projected to grow at a prominent growth rate over the forecast years. Because of the well-established healthcare infrastructure, new product launches, and key market participants, Hospitals in the region are consolidating rapidly, and competition is increasing. Due to it, healthcare providers invest heavily in infrastructure advancements such as alarm management systems to improve patient care. Furthermore, the large population pool and rising healthcare spending in the region are expected to fuel regional market growth.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
Global Clinical Alarm Management market further reveals that the key players increasingly adopting strategies such as launch of newer products, product launches, and long-term alliance to improve market revenue share and gaining significant geographic presence across the region. For instance, In May 2021, Vocera Communications, Inc. signed a distribution agreement with Wavelink, which will procure Vocera solutions for large and small healthcare organizations throughout Australia.

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The global clinical alarm management market detailed segmentation:
1) By Type
Nurse Call Systems
Physiological Monitors
Bed Alarms
EMR Integration Systems
Ventilators
Others

2) By Component
Solutions
Services

3) By End Users
Hospitals
Long-Term Care Centres
Ambulatory Care Centres
Home Care Settings

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Key player's profiles in the clinical alarm management market report are Koninklijke Philips N.V. (Netherlands), Vocera Communications (US), GE Healthcare (US), Ascom (Switzerland), Spok, Inc. (US), Masimo (US), Cornell Communications (US), Drägerwerk AG & Co. KGaA (Germany), Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China), Baxter (US).

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