The Business Research Company's Medical Wireless Alarm System Global Market Report 2025 – Market Size, Trends, And Global Forecast 2025-2034
What Does The Future Hold For The Medical Wireless Alarm System Market?
The Business Research Company's projections also predict a rapid surge in the market size of the medical wireless alarm system in the coming few years — an estimated growth to $2.67 billion by 2029 at a Compound Annual Growth Rate of 16.9%. The exponential market growth during this forecast period is expected to be driven by several factors such as a surge in the demand for wireless communication in hospitals, increasing use of wearable medical devices, and a growing focus on smart healthcare facility design. Additionally, the market demand will be augmented by the increasing use of cloud-based health monitoring solutions, and an ever-increasing need for remote health monitoring.
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Key trends in this forecast period will include development low-power wireless protocols, profound integration with electronic health records, and integration of multi-parameter sensors. Furthermore, there will be an increased focus on innovation in voice-activated alarms, and edge computing for alarms.
What's Propelling This Potent Growth In The Medical Wireless Alarm System Market?
The rapid growth in the adoption of remote patient monitoring RPM systems is another key driver propelling the growth of medical wireless alarm systems. RPM is a healthcare practice that employs digital technologies to gather patients' health data remotely and transmit it to healthcare providers for subsequent assessment and guidance. The increased attention towards RPM can be attributed to the rising prevalence of chronic diseases that necessitate real-time health tracking to effectively manage conditions and decrease hospital visits.
Institutions such as Insurance Thought Leadership Inc., A US-based insurance and risk management company, noted a surge in the use of telehealth, especially among Medicare participants reaching over 53 million in April 2024. Moreover, it was noted that 91% of health systems were actively operating telehealth programs. This increased adoption of RPM systems consolidates the growth of medical wireless alarm systems making them invaluable in managing chronic conditions and improving patient safety outcomes.
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Who Are The Major Players In The Medical Wireless Alarm System Market?
Outstanding players in the medical wireless alarm system market are companies such as the Koninklijke Philips N.V., Stryker Corporation, Baxter International, ADT Inc., AMETEK Inc., Roper Technologies Inc., OSI Systems Inc., Connect America Holdings LLC, and Ascom Holding AG to mention a few. These companies lead the sector and work relentlessly in bringing innovative solutions to the forefront.
What Are The Significant Trends Emerging In The Medical Wireless Alarm System Market?
Notable advancements in the sector include the development of innovative products such as the Lite Plus monitoring products. These products are advanced, wireless healthcare devices designed contemporarily to monitor patient vitals, giving real-time alerts to medical staff for improved patient care and timely intervention. Aulisa Medical USA Inc., a US-based medical device enterprise, launched the Guardian Angel in August 2023. These products that are FDA-cleared, wearable, wireless Lite Plus monitoring systems continuously track blood oxygen saturation SpO2, and pulse rate PR, displaying real-time data on a smartphone and local device.
How Is The Medical Wireless Alarm System Market Segmented?
The medical wireless alarm system market report covers the following segments:
By Product Types: Wireless Fidelity, Bluetooth, Cellular, Other Product Types
By Type Of Alarm System: Portable Alarm Systems, Stationary Alarm Systems, Wearable Alarm Systems
By Applications: Hospitals, Clinics, Ambulatory Surgery Center, Other Applications
By End-User: Healthcare Providers, Home Care Providers, Assisted Living Facilities, Patients And Caregivers
What Are The Regional Insights Into The Medical Wireless Alarm System Market?
North America was the largest region in the medical wireless alarm system market in 2024, with Asia-Pacific expected to be the fastest-growing region in the forecast period. The report covers regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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