Research Nester released a report titled “Clinical Alarm Management Market: Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the global clinical alarm management market in terms of market segmentation by components, by products, by end users and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The clinical alarm management market is anticipated to witness a robust growth during the forecast period, i.e., 2019-2027 on account of growing demand for effective alarm system in medical care facilities including hospitals and home care. The increase in the number of patients admitted to hospitals every year as well as the longer duration of their stay is boosting the growth of this market to a significant extent.
The market for clinical alarm management is estimated to grow by a substantial CAGR during the forecast period and is predicted to attain notable market size by 2027. This can be attributed to the increasing demand for medical services by majority of the population due to the deteriorating health conditions.
The clinical alarm management market is segmented by components, products, end users and region. On the basis of end users, the market is further segmented into hospitals, home care and others. Hospitals are anticipated to be the largest market share holders during the forecast period on the back of rising technological advancements in the healthcare sector and availability of better medical facilities.
Regionally, the market in North America is anticipated to hold largest share in the global clinical alarm management market as a result of high prevalence of chronic health disorders such as diabetes and cancer along with various cardiovascular diseases in the region. The expanding medical industry in the region is another factor contributing to the growth of this market.
Rising Chronic Health Conditions To Boost The Growth Of Market
The increasing number of chronic health disorders among people is a major factor influencing the growth of clinical alarm management market. Chronic diseases require the patients to stay at the medical care facilities for an estimated longer time period as compared to acute disorders. This increases the number of beds occupied in hospitals, leading to an increase in the demand for effective alarm systems.
Minimizing The Barriers In Clinical Alarm Management Market
Lack of awareness among people pertaining to necessity of clinical alarms acts as a key restraint behind the growth of the clinical alarm management market. However, spreading awareness and increasing the production of advanced alarm systems along with their usage in the hospitals might overcome the restraints affecting the growth of this market.
This report also provides the existing competitive scenario of some of the key players of the global clinical alarm management market which includes company profiling of Philips, Vocera Communications, Spok Inc., Ascom, Capsule Technologies Inc., Mobile Heartbeat, Connexall GlobeStar Systems Inc., GE Healthcare, Masimo, Medtronic. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global clinical alarm management market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.