Clinical Alarm Management Market Will Reach USD 7,013 Million by 2030, Says P&S Intelligence

NEW YORK, March 20, 2023 /PRNewswire/ -- The global clinical alarm management market is projected to be worth USD 7,013 million by 2030, growing at a CAGR of 10.3%, according to P&S Intelligence.

In recent years, hospitals have witnessed a significant rise in the acceptance of technologically progressive patient care equipment. Nowadays, almost all of the new equipment is armed with an alarm.

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Hospital beds and chairs, respiratory monitoring tools, wound vacuum devices, infusion pumps, sequential compression devices, patient call systems, feeding pumps, cardiac monitors, and ventilators are just some examples of the equipment usually seen in acute-care units that consist of built-in alarms.

Rising Acceptance of EHRs To Generate Profitable Opportunities

The patient information contained within electronic health records is typically unstructured, intricate, and private. To utilize it in order to advance patient care, the barricades in integrating it into the healthcare delivery process should be overcome.

Despite the fact that EHRs have been utilized for over 10 years, the industry has just grown in the past few years due to the government initiatives aimed at advancing patient protection methods.

Plague of Alert Fatigue on Worldwide Healthcare Fraternity

There has been a noteworthy surge in alert fatigue occurrence. This can be credited to the fact that hospitals are becoming extremely enhanced, and the majority of the systems here are fortified with alarms, which doctors and other health care experts have become desensitized to due to the extreme exposure to them.

Browse detailed report on  Clinical Alarm Management Market Size, Growth, Development and Demand Forecast to 2030

Thus, the legitimate alarms, which are made to alert experts of the actual situations of patients, are occasionally ignored, as there are several more alarms, which leads to late or, sometimes, even missed responses.

Nurse Call Systems Are Integrated Most Widely

In 2022, the nurse call systems category had the largest market share, of more than 26%. This is mainly because of the integration of wireless and automation technologies in these devices and the wish to improve medical workflow, and reduce functioning costs for the medical establishment, while making the most of the present resources.

North America Has Highest Demand for Clinical Alarm Management Solutions

In 2022, North America had the largest revenue share, of more than 46%. The main factors for this substantial share are its deep-rooted healthcare system, rising cases of alert fatigue, launch of new devices and solutions, supportive healthcare regulations in both Canada and the U.S., and the existence of key competitors in the market.

Clinical Alarm Management Market Segmentation Coverage in the Report

Clinical Alarm Management Market by Product

• Nurse call systems
• Physiological monitors
• EMR integration systems
• Bed Alarms
• Ventilators

Clinical Alarm Management Market by Component

• Solutions
• Services

Clinical Alarm Management Market by End User

• Hospitals & Clinics
• Home Care Settings
• Ambulatory Care Centers
• Long-Term Care Facilities
• Specialty Centers

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SOURCE P&S Intelligence