The rapidly evolving technology is gaining robust traction from the evolving homecare facilities. The technology allows a round-the-clock monitoring owing to which the demand for the product is also getting stronger in hospitals and clinics, especially in ICU facilities. Clinical Alarm Management Market Application Growth is significant during forecast period.
In the latest report on the global clinical alarm management market, Market Research Future (MRFR) claims that a 30.4% CAGR is achievable during the forecast period (2018—2023). Clinical alarms are used in providing better care to patients as these alarms help in staying alert. This technology depends on several software for better application. The non-invasive technology it follows is getting rapid approval from patients owing to which its market percolation has become easier. However, its noise is an issue, and many complain about sleep disruption and unpleasant environments. This could hamper the expected market growth during the forecast period.
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The Clinical Alarm Management Market is expected to benefit from impacts of various strategies implemented by companies like Capsule Technologie (Subsidiary of Qualcomm Life, Inc.), Medtronic, Koninklijke Philips N.V., Baxter, Vocera Communications, Mindray Medical International, Masimo, Ascom Holdings, Connexall, Drager, Spok, Inc. (Subsidiary of Spok Holdings, Inc.), Bernoulli Enterprise, Inc., GE Healthcare, and Mobile Heartbeat (Subsidiary of Hospital Corporation of America). MRFR in their report on the market enlisted these companies and their latest contributions for a better predictive analysis of the upcoming years.
In 2019, Getinge received FDA clearance for their new software version of Servo-u and Servo-n. These machines are known for their contributions in the mechanical ventilator platform. The revised model would introduce several features such as volume control with slowing down of flow, better alarm management, streamlined setup for ventilation modes, and context-based guidance to simplify its application.
The global clinical alarm management market, as discussed by MRFR in their report, is by product, component, and end-user.
Based on the product, the global clinical alarm management market is segmented into physiological monitors, nurse call systems, bed alarms, EMR integration systems, mobility solutions, ventilators, central monitoring systems, and clinical decision support tools. The ventilator segment is finding good market traction due to a substantial rise in intensive care services.
Based on the component, the global clinical alarm management market is segmented into solutions and services.
Based on the end user, the clinical alarm management market includes long-term care centers, hospitals, and ambulatory care centers home care settings. The hospitals segment has a substantial market dominance due to its infrastructural superiority and better investment facilities.
MRFR’s region-specific study of the global clinical alarm management market includes the Americas, Europe, Asia Pacific (APAC), and the Middle East Africa (MEA).
The dominance of the Americas can be attributed to excellent healthcare infrastructure, increasing demand for advanced patient safety devices, and rising awareness regarding clinical alarm management by a different organization. Improvisation in new technologies can also bring in substantial changes in the market.
Government support and an increasing number of hospitals in Europe are providing much traction to the global market. Healthcare companies have increased their investment due to which the regional market is expected to rise substantially.
The APAC market is booming due to the presence of several developing economies like India, China, and Australia, where the rising investment by governments for the healthcare sector is facilitating launch of mobile application to reduce the noise in the hospital and development of different software’s to better the impression of the clinical alarm management market in this region.
On the other hand, the MEA market is expected to lag in contribution due to the presence of several poor economies, low awareness, and lack of healthcare infrastructure impacts the market growth.
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