New York, Jan. 24, 2023 (GLOBE NEWSWIRE) -- The Clinical Alarm Management Market revenues were estimated at US$ 1.2 Bn in 2021 and is anticipated to grow at a CAGR of 26.5 % from 2022-2032, according to a recently published Persistence Market Research report. By the end of 2032, the market is expected to reach US$ 15.7 Bn.
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The clinical alarm management procedure provides a high level of confidentiality and security when performing isolated information, such as identity and health information. Clinical alarms are commonly found in long-term care and rehabilitation clinics in order to record the health state of the patient. The expansion of the clinical alarm management market will be promoted through the expansion of using wellness services, as well as by the increase in the significance of big data. Together, these developments could save healthcare expenses and minimize the danger of medical errors, which will boost the need for alarms.
More dedicated government initiatives to improve access to biomedical provisioned device capabilities in developed and developing nations will drive the industry forward. The continued success of other projects for the health of the geriatric and handicapped population using a biomedical provisioned device designed to promote their safety suggests favorable growth prospects for the clinical alarm management market.
Companies
- Koninklijke Philips N.V
- General Electric Company (GE Healthcare)
- Spok, Inc
- Masimo
- Ascom
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Competitive Landscape
The market is extremely fragmented, with many local businesses competing against multinational competitors. Prominent companies are focusing on research and development of new products in order to stay competitive in the industry. The key players in the Clinical Alarm Management Market are Koninklijke Philips N.V.; General Electric Company (GE Healthcare); Ascom; Spok, Inc.; Masimo.
Some of the recent developments of key clinical alarm management providers are as follows:
- In May 2021, Wavelink signed a distribution agreement with Vocera Communications, Inc. to procure Vocera solutions for large and small healthcare organizations across Australia.
- In July 2020, Hillrom and Aiva announced a new commercial partnership under which Hillrom will allow patients and staff to communicate with each other using a two-way voice system and Hillrom's Voalte mobile solution. Hillrom's Voalte mobile solution is a full mobile clinical communication platform that includes two-way caregiver-to-caregiver communication.
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More Insights Available
Persistence Market Research, in its new offering, presents an unbiased analysis of the Clinical Alarm Management Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals extensive growth in Clinical Alarm Management Market Product Type (EMR Integration Systems, Physiological Monitors, Bed Alarms, Nurse Call Systems, Ventilators & Others), by Components (Services & Solutions) by End-User (Long-Term Care Facilities, Home Care Settings, Ambulatory Care Centres, Hospitals & Clinics and others) across five regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
Market Segments Covered in Clinical Alarm Management Market Analysis
By Product Type
- EMR Integration Systems
- Physiological Monitors
- Bed Alarms
- Ventilators
- Others
By Component
- Services
- Solutions
By End-User
- Long-Term Care Facilities
- Home Care Settings
- Ambulatory Care Centres
- Hospitals & Clinics
- Specialty Centres
By Region
- North America
- Latin America
- Europe
- APAC
- MEA
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