Big Data Analytics in Healthcare Industry: FMI Examines New Trends in Clinical Alarm Management Market

Oct 18,2019 | Electronics, Semiconductors, and ICT

The clinical alarm management market is on a pace to expand by ~13% annually, through 2029. Heavy investments in the development of healthcare facilities and infrastructure has been radically changing patient engagement and experience in recent years. 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.

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 to be higher in countries of North America and Western Europe.

“With global investments in healthcare industry increasing at rapid pace, clinical alarm management is likely to witness high demand to improve workflow, lower noise levels, and enhance patient care. In addition, solution providers are preparing to expand their portfolios and combine their services with advanced technologies such as Big Data Analytics to gain distinct competitive edge,” says the FMI analyst.

Key Players Eyeing Greater Opportunities in Asia Pacific

Leading players in the clinical alarm management market are constantly focusing on expanding their business across Asia Pacific. Increasing investments in the digitalization of healthcare infrastructure, especially in developing countries such as China and India, is likely to help attract different clinical alarm management solution providers to continue their businesses in these countries. Further, with a wealth of innovation on the horizon, clinical alarm management market players are set to release advanced solutions and services for the end users.

For More Detailed Insights on Clinical Alarm Management Market

  • Zebra Technologies offers alarm management solutions, which can deliver more than patient event notifications and secure text messaging.

Incorporation of new technologies such as Internet of Things (IoT) in the healthcare sector along with rising adoption of big data analytics has been leading to paradigm shift in patient care delivery. Rapid inclination towards value-based healthcare is likely to remain instrumental to the growth of the clinical alarm management market in the years ahead.

Find More Valuable Insights on Clinical Alarm Management Market

In its new offering, Future Market Insights puts forward an unbiased analysis of the global clinical alarm management market, providing historical demand data (2014-2018) and forecast statistics for the period, 2019-2029. The study provides key insights on the clinical alarm management market on the basis of component (solution and services) and end user (hospitals, clinics, ambulatory surgical centers, long-term and palliative care centers, home care, and other end users) across seven major regions.

To gain deeper understanding of various aspects and nuances of the clinical alarm management market, consult an analyst.

About Electronics, Semiconductor & ICT Division at Future Market Insights

With a repository of over 500 reports on electronics, semiconductor & ICT, and 100+ reports specific for Healthcare IT, the ICT team at Future Market Insights has consistently tracked and analyzed the changing dynamics of the ICT landscape. The team has also executed several complex projects pertaining to the convergence of healthcare and ICT that is currently underway. Given consideration to the consumerization in healthcare and use of IT to achieve patient engagement, the team conducts in-depth research and offers consulting services; reach out to explore how we can help meet the business intelligence needs.

About Electronics, Semiconductors, and ICT division of FMI

The electronic, semiconductors, and ICT division at Future Market Insights focuses on tracking and analyzing ever-changing dynamics of the IT and telecommunication industry. The ICT team has also executed several complex projects pertaining to the convergence of healthcare and ICT, rapid adoption of ‘as-a-service’ business model, growth prospects of consumer electronics market, and evolution in design and fabrication of semiconductors. To help clients from all over the globe meet their unique needs, the team offers a variety of customized market research reports and consulting services: reach out to explore how we can help.

About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously track emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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