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.
The 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 forecast period. Some of factors driving market growth in APAC region are growing need for implementation and integration of medical device and HCIT solutions in Asia to provide cost-effective & quality clinical care to patients, increasing healthcare expenditure in Japan, growing geriatric population, & increase in disease prevalence.
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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.
Key top players in clinical alarm management market are Koninklijke 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).
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. 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 & arrive at exact statistics of each market segment and subsegment, the data triangulation & 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.
- To define, measure, and describe the global market by component, product, end user, and region
- To provide detailed information about the major factors influencing market growth (drivers, restraints, challenges, and opportunities)
- To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
- To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
- To forecast the size of market segments in North America, Europe, Asia Pacific, and RoW
- To strategically analyze the market structure and profile key players in the global market and comprehensively analyze their core competencies
- To track and analyze company developments such as product launches and enhancements; acquisitions; expansions; and agreements, partnerships, & collaborations in the market
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Clinical alarm management market segmented into nurse call systems, physiological monitors, EMR integration systems, bed alarms, ventilators, & others (infusion pumps & pulse oximeters). On contrary, EMR integration systems segment is also expected to grow at the highest rate during forecast period. On the basis of end user, the global clinical alarm management market is segmented into hospitals, long-term care centers, and ambulatory care centers & home care settings.
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