Clinical Alarm Management Market Projected to Surpass ~US$ 5,920.3 Mn by 2029, G… – Press Release

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Clinical Alarm Management Market By Component (Solution (Clinical Decision Support Tool, Central Monitoring System, Mobility Solution, Clinical Alarm Reporting Software, and Alarm Auditing Software) and Services), End User (Hospitals, Clinics, Ambulatory Surgical Centres, Long-Term) & Region – Forecast 2022 – 2029

DUBAI, UAE, March 30, 2022 /PRNewswire/ — The clinical alarm management market is on a pace to expand by ~32.3% annually, through 2029. Heavy investments in the development of healthcare facilities and infrastructure has been radically changing patient engagement and experience in recent years.

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2022 Market Value

US$ 750.5 Mn

2029 Market Value

US$ 5,920.3 Mn

CAGR% (2022-2029)

32.3%

Top 5 Vendor Market Share

Around 25%

Increasing adoption of clinical decision support tools and real-time communication system, in view of rapid advances in healthcare technologies, are projected to boost the demand for clinical alarm management.

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Key Takeaways from Clinical Alarm Management Market Study

  • Adoption of clinical decision support tools and clinical alarm reporting software continues to broaden in both developing and developed countries.
  • Clinical alarm reporting software helps in identifying nonactionable alarms that could be fully adjusted or removed, contributing to 80% reduction in ventilator alarms.
  • Clinical alarm management solutions – central monitoring system in particular has been garnering significant traction, as it provides actionable intelligence to respond to alarm conditions with appropriate patient care or device management.
  • FMI reports that demand for clinical alarm management in hospitals and ambulatory surgical centers is likely to increase at the CAGR of ~14% and ~11% respectively, during the forecast period.
  • As compared to developing regions, the sales of clinical alarm management solution is anticipated…

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