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Clinical Alarm Management Market Trends

Report ID: GMI8421
Published Date: Mar 2024
Report Format: PDF

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Clinical Alarm Management Market Trends

Integration of artificial intelligence, machine learning, and technologies like EHR into clinical alarm management systems is anticipated to enhance its efficiency and propel the industry gains.

The latest technological advancement in clinical alarm management tools involves integrating artificial intelligence (AI) and machine learning (ML) algorithms, which analyzes the data and learn patterns to offer more accurate and timely alerts, reducing false alarms. Companies like Medtronic Plc and GE Healthcare have developed smart alarm systems using AI-based sensor fusion algorithms to enhance accuracy and effectiveness. Such developments are trending and expected to drive the industry in the coming years.
Additionally, the integration of electronic health record (her) technology in clinical alarm management tools has significantly enhanced patient care and safety. Healthcare IT vendors offer software solutions and integration services supporting clinical alarm management throuherEHR systems, alarm management software, and interoperability solutions.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Global market size for clinical alarm management was valued at around USD 3.5 billion in 2023 and is expected to reach around USD 8.1 billion by 2032, driven by the growing cases of alarm fatigue, coupled with increasing government initiatives for promoting healthcare IT solutions.

The centralized segment of industry is anticipated to reach USD 5.3 billion by 2032, as they streamline monitoring by consolidating alarms onto a centralized dashboard, reducing the need for healthcare providers to monitor multiple devices individually.

North America market accounted for USD 1.4 billion in 2023 and is predicted to witness substantial growth over 2024-2032, driven by the rising prevalence of chronic diseases, along with the cost containment efforts in the region where the systems help in optimizing resource utilization, minimizing unnecessary alarms, and improving workflow efficiency.

Amplion Clinical Communications, Inc., Ascom Holding AG, Baxter International Inc., Cornell Communications, Drägerwerk AG & Co. KGaA, Koninklijke Philips N.V., Masimo Corporation, Mobile Heartbeat, Nihon Kohden Corporation, Shenzhen Mindray Bio-Medical Electronics Co., Ltd. are some of the major industry contenders.