Dec 05, 2018, 07:45 ET
News Provided By Research and Markets
DUBLIN, Dec 5, 2018 /PRNewswire/ —
The “Clinical Alarm Management Market by Component (Solutions, Services), Product (Nurse Call Systems, Physiological Monitors, EMR Integration Systems), End User (Hospitals, Long-term Care Centers, Ambulatory Care Centers) – Global Forecasts to 2023” report has been added to ResearchAndMarkets.com’s offering.
The global clinical alarm management market is expected to reach USD 1,723.5 million by 2023 from an estimated USD 456.5 million in 2018, at a CAGR of 30.4%.
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 are driving the growth of the clinical alarm management market.
However, the current lack of interoperability in HCIT solutions and the high investments needed to build an effective infrastructure for HCIT capabilities among end users are expected to hinder the growth of the clinical alarm management market in the coming years. Another factor that may slow market growth is the reluctance from traditional providers, due to a lack of awareness on the subject of, and need for, clinical alarm management.
In 2018, North America is expected to account for the largest share of the global clinical alarm management market. The large share of this region can be attributed to the increasing cases of alarm fatigue and initiatives by government bodies to curtail the effects of alarm fatigue and the increasing need for integrated healthcare IT systems to ensure reliability, efficient maintenance of data, data integrity, and timely availability of patient data to authorized healthcare professionals.
The APAC region comprising Japan, China, India, and Rest of Asia Pacific offers high-growth opportunities for players in the clinical alarm management market. This segment is slated to register the highest CAGR of 33.7%. Some of the factors driving market growth in the APAC region are growing need for the implementation and integration of medical device and HCIT solutions in Asia to provide cost-effective and quality clinical care to patients, increasing healthcare expenditure in Japan, growing geriatric population, and the increase in disease prevalence.
Increasing penetration in the high-growth Asia Pacific market will prove to be an effective growth strategy for companies focusing on increasing their shares in the global clinical alarm management market.
Some of the prominent players in the 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).
Key Topics Covered:
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
2 Research Methodology
2.1 Research Data
2.2 Market Size Estimation
2.3 Assumptions for the Study
3 Executive Summary
4 Premium Insights
4.1 Clinical Alarm Management Market: Overview
4.2 Global Market, By Product, 2018 vs 2023, (USD Million)
4.3 Global Market, By Component, 2018 vs 2023, (USD Million)
4.4 Global Market, By End User, 2018 vs 2023, (USD Million)
4.5 Global Market: Geographic Snapshot
5 Clinical Alarm Management Market: Overview
5.2 Market Dynamics
184.108.40.206 Increasing Alarm Fatigue
220.127.116.11 High Prevalence of Chronic Diseases
18.104.22.168 Growth in the Geriatric Population
22.214.171.124 Need for Cost-Containment in Healthcare Delivery
126.96.36.199 Rising Prominence and Usage of Big Data and Mhealth Tools
188.8.131.52 Lack of Interoperability
184.108.40.206 High Investments Required to Build It Infrastructure
220.127.116.11 Emerging Markets for Hcit
18.104.22.168 Growing Adoption of Ehrs
22.214.171.124 Resistance From Traditional Healthcare Providers
6 By Component
6.2.1 Solutions Segment to Account for the Largest Share of the Clinical Alarm Management Component Market in 2018
6.3.1 Increasing Adoption of Clinical Alarm Management Solutions and Indispensable and Recurring Nature of Services to Drive the Services Market in the Coming Years
6.3.2 Implementation & Integration
7 By Product
7.2 Nurse Call Systems
7.2.1 Nurse Call Systems to Account for the Largest Share of the Clinical Alarm Management Products Market in 2018
7.3 Physiological Monitors
7.3.1 Rising Prevalence of Chronic Diseases & Growing Geriatric PopulationKey Factors Driving Market Growth
7.4 Bed Alarms
7.4.1 Increasing Incidence of Injuries in the Elderly Have Driven the Adoption of Clinical Alarm Management Solutions in Bed Alarms
7.5 Emr Integration Systems
7.5.1 Emr Integration Systems to Witness the Highest Growth in the Market During the Forecast Period
7.6.1 Rising Prevalence of Respiratory Diseases & Increasing Adoption of Ventilator Alarm Management Solutions By Hospitals are the Major Factors Driving Market Growth
7.7.1 Increasing Demand for Ambulatory Infusion Pumps & Growing Volume of Surgical Procedures Performed Key Factors Driving Market Growth
8 By End User
8.2.1 Hospitals to Account for the Largest Share of the Clinical Alarm Management End-User Market in 2018
8.3 Long-Term Care Centers
8.3.1 Growing Geriatric Population to Drive the Market for Long-Term Care in the Coming Years
8.4 Ambulatory Care Centers & Home Care Settings
8.4.1 Increasing Volume of Alarms Generated in Non-Traditional Healthcare Facilities Drive the Adoption of Clinical Alarm Management Solutions
9 By Region
9.2 North America
126.96.36.199 Increasing Need for Integrated Healthcare It Systems, Implementation of Federal Mandates That Encourage the Adoption of Mhealth Solutions and Telehealth Solutions & Services Among Healthcare Providers, and the High Adoption of Emr/Ehr Solutions- Key Factors Driving Market Growth
188.8.131.52 Rising Penetration of Devices Capable of Supporting Mobile Solutions and Rising Healthcare Spending to Drive Global Market
184.108.40.206 Government Initiatives to Modernize the Healthcare System, Increasing Healthcare Expenditure, High Penetration of Smartphones, and the Growing Adoption of Patient Monitoring Devices are Likely to Bolster the Growth of the Market
220.127.116.11 Increasing Government Spending and Nhs Programs for Implementing Digital Health Systems is Likely to Increase the Adoption of Clinical Alarm Management Solutions in the Country
18.104.22.168 Growing Initiatives to Promote the Adoption of Healthcare It Solutions, Rising Elderly Patient Population, Increasing Documentation of Reimbursements, Technology Innovations, and the Growing Need to Improve Clinical Outcomes-Key Factors Driving Market Growth
22.214.171.124 Measures Adopted By Governments in the Region to Leverage Hcit, Growing Prevalence of Chronic Diseases, and Increasing Aging Population are the Major Factors Driving Market Growth
9.4 Asia Pacific
9.4.1 Growing Need for the Implementation and Integration of Medical Device and Hcit Solutions in Asia to Provide Cost-Effective and Quality Clinical Care to Patients is Likely to Boost the Adoption of Clinical Alarm Management Solutions
9.5.1 Establishment of New Hospitals, and Increasing Alarm Fatigue-Sensory Overload are Driving the Market in This Region
10 Competitive Landscape
10.2 Clinical Alarm Management Market Share Analysis (2017)
10.3 Competitive Scenario
11 Company Profiles
11.1 Koninklijke Philips N.V.
11.2 Vocera Communications
11.3 GE Healthcare
11.4 Ascom Holdings
11.5 Spok, Inc. (Subsidiary of Spok Holdings, Inc.)
11.8 Bernoulli Enterprise, Inc.
11.9 Capsule Technologie (Subsidiary of Qualcomm Life, Inc.)
11.10 Mobile Heartbeat (Subsidiary of Hospital Corporation of America)
For more information about this report visit https://www.researchandmarkets.com/research/q27fb2/global_clinical?w=5
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