Dublin, Feb. 26, 2024 (GLOBE NEWSWIRE) -- The "Global Clinical Alarm Management Market by Product (Nurse Call Systems; Connectivity/Integration Software - EMR, Central Hubs, Notification/Alert; Ventilators, Patient Monitors, Capnography, Oximeter), Type (Centralized), End User - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
Global clinical alarm management market to experience significant growth, reaching an estimated value of USD 5.4 billion by 2028.
This spike, from its 2023 valuation of USD 2.7 billion, denotes a Compound Annual Growth Rate (CAGR) of 14.5%. An increasing emphasis on healthcare efficiency and patient safety through technology integration is expected to fuel this growth.
With a spotlight on reducing alarm fatigue and integrating evidence-based practices, there is a burgeoning need for clinical alarm systems that are not only efficient but also safe.
Despite the potential for data security concerns temporarily slowing momentum, the overall trend indicates a robust expansion of the market, driven in part by the rapid adoption of interoperable health IT solutions.
Healthcare professionals increasingly favor nurse call systems, particularly the button-based segment, highlighted for its reliability and real-time response capabilities. Innovations in button-based nurse call systems are projected to lead the market, supported by their cost-efficiency, ease of installation, and sophisticated features such as automatic logging and responder identification.
By software, connectivity software is expected to occupy the largest market share. These platforms facilitate vital connections between electronic health records, patient monitoring devices, and clinical support tools, underpinning the strong preference for integrated healthcare systems bolstered by regulatory incentives.
Noteworthy Market Segment Developments
Within the market, centralized alarm management systems have dominated the market segmentation by type. These systems provide a singular platform for the monitoring and management of clinical alarms, promoting highly effective patient care.
Asia Pacific is poised to exhibit the highest growth in the market, with key factors such as healthcare investments, advancing infrastructures, and increasing geriatric population driving demand for clinical alarm management systems.
Market Insights
- Button-based nurse call systems' segment retains the largest market share with its reliability and affordability.
- Connectivity software leads the software segment due to growing EHR adoption and healthcare IT system integration.
- Centralized alarm management systems dominate the type segment, prioritizing efficiency in healthcare monitoring.
- The Asia Pacific region is projected to showcase the highest market growth through 2028 due to expanding healthcare infrastructure and patient population.
The report also contains a competitive assessment of market shares, strategies, products, and distribution networks of leading players in the clinical alarm management market. Furthermore, the research explores the dynamic between market-driving forces such as the need for heightened patient care and cost efficiencies in healthcare delivery and challenges like interoperability and data security.
The market research underscores the potentiating influence of global demands for health information technology (HCIT) solutions, EHRs' adoption, and the persistent challenges faced within the digital transformation of traditional healthcare settings.
Detailed insights on the developing technologies, product innovations, lucrative markets, and recent strategic developments are contained within the report, which will provide invaluable data to stakeholders and market participants for gaining a foothold in the expanding clinical alarm management marketplace.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 307 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $2.7 Billion |
| Forecasted Market Value (USD) by 2028 | $5.4 Billion |
| Compound Annual Growth Rate | 14.5% |
| Regions Covered | Global |
Companies Mentioned
- Alpha Communications
- Amplelogic
- Amplion Clinical Communications, Inc.
- Ascom Holdings Ag
- Baxter International, Inc.
- Connexall
- Cornell Communications
- Drägerwerk AG & Co. KGaA
- GE Healthcare
- Intercall Systems, Inc.
- JCT Healthcare Pty Ltd.
- Johnson Controls
- Koninklijke Philips N.V.
- Masimo
- Medtronic plc
- Mobile Heartbeat (Subsidiary of Hospital Corporation of America)
- Nihon Kohden Corporation
- Oracle (Cerner Corporation)
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
- Spok, Inc. (Subsidiary of Spok Holdings, Inc.)
- Teldio Corporation
- Tigerconnect
- Tunstall Group
- Vocera Communications (Acquired by Stryker Corporation)
- West-Com Nurse Call Systems, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/h8yxoq
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