Press release
Clinical Alarm Management Market 2023 - Trend Analysis, Industry Growth, Key Players, Growth Opportunities And Outlook By 2032
Clinical Alarm Management Market
The Business Research Company's Clinical Alarm Management Global Market Report 2023 identifies growing cases of alarm fatigue as the major driver for the Clinical Alarm Management market's growth in the forecast period. The term "alarm fatigue" refers to the sensory overload that occurs when clinicians receive an excessive number of alarms, leading to missed alarms and delayed responses. Several patient deaths have been attributed to alarm fatigue. Hospitals are increasingly recognizing alarm fatigue as a critical safety issue, and alarm management has become a priority improvement area.
The global clinical alarm management market size is expected to grow from $1.98 billion in 2022 to $2.39 billion in 2023 at a compound annual growth rate (CAGR) of 20.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The clinical alarm management market size is expected to grow to $5.18 billion in 2027 at a CAGR of 21.4%.
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Major competitors in the Clinical Alarm Management market are Koninklijke Philips NV, GE Healthcare, Ascom Holdings, Spok Holdings Inc., Masimo, Vocera Communications.
A key trend in the Clinical Alarm Management market includes implementation of big data and artificial intelligence. Major companies operating in the market are advancing toward the use of big data and artificial intelligence (AI) to meet customer demand. For instance, in September 2021, Medtronic, an Ireland-based medical device company, partnered with Statis Health, a wholly-owned subsidiary of Stasis Labs based in the US, to provide a Stasis Monitor in India. Stasis Monitor is a patented artificial intelligence-enabled bedside patient monitoring system that has been cleared by the FDA to automate, digitise, document, and communicate critical patient information.
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The Clinical Alarm Management market is segmented -
• By Product: Physiological Monitors, Nurse Call Systems, Ventilators, Bed Alarms, Anesthesia Machines, Telemetry Monitors, Feeding Pumps, Other Products
• By Component: Solutions, Services
• By End-User: Hospitals and Clinics, Home Care Settings, Ambulatory Care Centers, Long-Term Care Facilities, Specialty Centers
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Clinical Alarm Management market.
The Business Research Company's "Global Clinical Alarm Management Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Clinical Alarm Management Market Include:
1. Executive Summary
2. Clinical Alarm Management Market Characteristics
3. Clinical Alarm Management Market Trends And Strategies
4. Clinical Alarm Management Market - Macro Economic Scenario
5. Clinical Alarm Management Market Size And Growth
.......................
26. Africa Clinical Alarm Management Market
27. Clinical Alarm Management Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Clinical Alarm Management Market
29. Clinical Alarm Management Market Future Outlook and Potential Analysis
30. Appendix
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