Clinical Alarm Management Market - Growth, Trends, COVID-19 Impact, and Forecast
Posted by Statzy Market Research on April 27th, 2021
The growth is attributed to increasing awareness among the healthcare providers in optimizing patient safety using advanced technologies such as mHealth, alarm management systems. Also, growing investment in healthcare infrastructure by government and private health care providers is expected to fuel the market growth.
If properly managed or standardized, systems may give the false alarm and sometimes patient health may be at risk. Lack of standardization and improper management of the systems may impede Clinical Alarm Management market growth. However, the implementation of big data and artificial intelligence to optimize the workflow, reduction of false alarms and innovation in product technologies are fuelling the market growth.
Key Market Trends
Products Segment Expected to have Lucrative Growth
Product segments that includes software/systems that are used for clinical alarm management. The segment growth is attributed to the advantages provided by products such as accurate data reading and helping caregivers in making informed decisions. EMR integration systems are projected to have significant market growth owing to the technological developments in EMR systems and new product launches. Furthermore, benefits offered by the integrated systems, various initiatives by the government and non-government organizations to mandate the EMR systems for better patient care anticipated to boost the segment growth.
In the End-User segment, hospitals are expected to witness a healthy growth owing to increasing multi-speciality hospitals around the world, growing need for the integrated alarm management solutions for optimizing the workflow in the hospitals. Moreover, the growing geriatric population coupled with the increasing prevalence of chronic diseases that lead to long hospital stays projected to fuel the overall Clinical Alarm Management market growth over the forecast period.
North America Expected to have Significant Market Share
North America region is anticipated to have significant market share owing to well-established healthcare infrastructure, new product launches and the presence of key market players. Hospitals in the region are consolidating at rapid pace and there is a rising competition is due to this healthcare providers are investing huge amounts in advancing the infrastructure such as alarm management systems to improve the patient care. Moreover, the presence of a large pool of population and increasing healthcare spending in the region is projected to fuel the regional market growth.
The Asia Pacific region is anticipated to have lucrative market growth owing to developing healthcare infrastructure and adaptation of advanced technologies in caregiving. Furthermore, increasing disposable income and increased access to the organized healthcare facilities in developing countries such as India and China is projected to boost the regional market over the forecast period.
Competitive Landscape
Global clinical alarm management market is moderately fragmented and competitive. Market players are focusing on new product launches, product innovations and geographical expansion.
Also, companies are focused on partnerships and integrating technologies to provide advanced care. For instance, in August 2018, Ascom and Dragner have integrated Ascom Unite Connect for clinical systems software with Dräger Infinity patient monitoring systems to improve patient care. The companies operating in the market include Baxter International Inc., Koninklijke Philips N.V., Ascom Holding AG, Capsule Technologies, Inc. and Vocera Communications among others.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
For sample report please visit : https://www.statzyreports.com/report/sr497845/clinical-alarm-management-market
Contact Us:
Poojan Dogra
Public Relations Manager
Email : sales@statzyreports.com
Email : info@statzyreports.com
(IN) - +918484035727
(US) - +1415-871-0483
Website : www.statzyreports.com
