Competitive Landscape:
MRFR in their report included several names influencing the global clinical alarm management market. They are Medtronic, Baxter, Koninklijke Philips N.V., Mindray Medical International, GE Healthcare, Vocera Communications, Masimo, Connexall, Drager, Ascom Holdings, Spok, Inc. (Subsidiary of Spok Holdings, Inc.), Capsule Technologie (Subsidiary of Qualcomm Life, Inc.), Bernoulli Enterprise, Inc., and Mobile Heartbeat (Subsidiary of Hospital Corporation of America).
In February 2019, Vocera Communications, a market titan in clinical communication and workflow solutions, delivered their first set of smartbadges to Phoebe Putney Memorial Hospital in Albany, Georgia. The product aims at improving communication between patient and care providers by raising alarms and enabling secure texting for efficient solutions.
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Overview:
Market Research Future’s (MRFR’s) analysis of the global clinical alarm management market predicts an astounding 30.4% CAGR during the forecast period (2018-2023). The clinical alarm management market can expect to surpass the estimated valuation with ease by the end of 2023. Clinical alarms are installed in healthcare institutions to provide clinical warnings to healthcare providers regarding the health of patients. Mostly created using software and non-invasive methods, these devices monitor patient’s health condition and alert healthcare staff if necessary. The device bridges the gap between patients and help providers to make the service more efficient and effective.
The global clinical alarm management market is expecting high demand from several healthcare institutions in the coming years and not just that, home care segment is also expected to trigger substantial growth. Healthcare service providers are working hard to provide the best service possible to their patients in order to gain their trust and reliance. Government regulations regarding such issues are also facilitating easy integration of such devices into the healthcare infrastructures. On the flip side, issues such as noise fatigue, sleep disruption can evoke unpleasant reactions from patients or staffs. This can hold back the growth rate for the time being. However, constant technological evolution can steer the clinical alarm management market out of any prolonged sluggish period.
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Segmentation:
MRFR in their report on the global clinical alarm management market segmented it by product, component and end-user for a better comprehensive analysis.
Based on the product, the global clinical alarm management market can be segmented into EMR integration systems, nurse call systems, physiological monitors, ventilators, central monitoring systems, bed alarms, mobility solutions, and clinical decision support tools.
Component-wise, the global clinical alarm management market includes solutions and services. The solution segment is substantially impacting the market and is expected to retain its market hold during the forecast period.
Based on the end-user, the clinical alarm management market is segmented into hospitals, long-term care centers and ambulatory care centers & home care settings.
Regional Market:
MRFR, for a better value-wise and volume-wise understanding of the global clinical alarm management market, included the Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
Advanced healthcare equipment is an integral part of the healthcare infrastructure of the Americas. High investment from both governments and private organizations are expanding the scope for the market to proliferate. Organizations such as American Association of Critical-Care Nurses (AACN), Association for the Advancement of Medical Instrumentation (AAMI), and many are bolstering the demand for such advanced technology to provide better healthcare service to their patients.
Europe’s market owns the second position and it can bank on the technological integration for further growth. The regional market is getting substantial support from governments. At the same time, the number of hospitals are on the rise owing to which the expansion scope for the regional clinical alarm management market is increasing. Investment from market players can also ensure future growth for the market. In this regard, Ascom’s strategic distribution partnership with GE Healthcare in Europe for Digistat Patient Watch solution used in intensive care units (ICU) can be considered exemplary.
The APAC market consists mainly major economies such as Thailand, India, China, and Australia where the rising government expenditures are expected to boost the regional market. Innovation and digitalization are expected to play key roles in extending the market boundary. The MEA market is going to contribute moderately. The market can expect hindrance owing to the presence of poor economies in the region, lack of awareness about the infrastructure and low awareness.
