North America Leads Clinical Alarm Management Market with 46% Share

The clinical alarm management market is set to grow at a CAGR of 11.6%, reaching USD 7,013M by 2030, driven by rising alert fatigue and tech advancements.
 
NEW YORK - Sept. 17, 2024 - PRLog -- The clinical alarm management market is projected to reach USD 7,013 million by 2030, with an impressive compound annual growth rate (CAGR) of 11.6% during the forecast period.

In recent years, hospitals have witnessed a surge in the use of advanced patient care technologies. Today, almost all new medical devices come with integrated alarms. These devices, commonly found in acute care units, include hospital beds, respiratory monitors, wound vacuum devices, infusion pumps, cardiac monitors, ventilators, and more. All of them are equipped with alarms to improve patient care.

The information in electronic health records (EHRs) is often unstructured, complex, and sensitive. For this data to enhance patient care, challenges related to integrating it into the healthcare delivery process must be addressed.

Although EHRs have been in use for over a decade, the industry's recent growth has been driven by government efforts to improve patient safety. However, a significant rise in alert fatigue has also been observed, which is largely due to the increased presence of alarms in hospitals. As healthcare professionals are constantly exposed to these alarms, they can become desensitized, leading to potential delays or even missed responses to critical alerts.

Browse detailed report analysis on "Clinical Alarm Management Industry Growth and Future Analysis (https://www.psmarketresearch.com/market-analysis/clinical...)"

Over the past few years, nurse call systems have dominated the market, holding over 26% share. This is mainly due to advancements in wireless and automation technology, which aim to enhance medical workflows, reduce operational costs, and optimize resources in healthcare facilities.

North America remains the leading region, with over 46% revenue share. Factors contributing to this dominance include a well-established healthcare system, rising cases of alert fatigue, product innovation, a supportive regulatory environment in both the U.S. and Canada, and the presence of key players. Rapid hospital consolidation has also increased competition in the region, prompting healthcare providers to invest in infrastructure, including alarm management systems. The regional market growth is further driven by a large population and rising healthcare spending.

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