Clinical Alarm Management Industry

The global clinical alarm management market size was estimated at USD 2.13 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 17.0% from 2024 to 2030. Growing cases of alarm fatigue and the need for cost-containment are the factors expected to boost market growth. Furthermore, prolonged hospital stays coupled with technological advancements in this sector and rising prevalence of various chronic diseases are most likely to fuel market growth. Increasing cases of alarm fatigue are expected to boost the demand for alarm management solutions as well as services. Alarm fatigue is a significant concern in healthcare, leading to excessive non-actionable alarms that can compromise patient safety.

The Making Health Care Safer (MHCS) reports from the Agency for Healthcare Research and Quality (AHRQ) emphasize implementing safety culture elements, risk assessments, and training to reduce alarm burden and improve overall patient care. Owing to false alarms, the true alarms that are supposed to alert clinicians of the real problems with patients are ignored sometimes. This drives the demand for such solutions. Various benefits of alarm management solutions are also likely to increase their demand, which will support market growth.

Gather more insights about the market drivers, restrains and growth of the Global Clinical Alarm Management market

Clinical Alarm Management Market Segments:

Market Concentration & Characteristics

The market growth stage is high, and is operating at an accelerating pace. The market is characterized by a high degree of innovation. The role of alarms in hospital settings continues to evolve in innovative ways. For instance, alarm management solutions offered by Philips include continuous patient monitoring systems, Patient Information Center iX (PIC iX [Central monitoring system]), and the CareEvent system.

Component Insights

The solution segment dominated the market and accounted for the largest revenue share of 54.0% in 2023. This is owing to the rising adoption of connected care technologies in healthcare, initiatives by key companies, and the need to reduce alarm fatigue. The need to reduce adverse patient events & false/nuisance alarms and comply with regulatory mandates is anticipated to drive market growth.

Product Insights

The nurse call systems segment dominated the market and accounted for the largest revenue share in 2023. The factors attributed to this large share include product developments driven by wireless technology & automation, the need to improve clinical workflow & reduce operating costs for the healthcare facility while making optimum use of available resources. Also, growing funding for wireless technologies and IP-based nurse call systems is anticipated to boost market growth during the projected period.

End-use Insights

The hospitals and clinics segment dominated the market and accounted for the largest revenue share in 2023 due to the growing patient flow, rising emergency cases, and incorporation of sophisticated solutions. Moreover, the home care settings segment is estimated to grow due to the growing need of improvement in patient safety settings through effective patient monitoring and ensuring a timely response.

Regional Insights

North America dominated the market and accounted for the largest revenue share of 43.7% in 2023, which is attributed to the growing significance of providing quality healthcare services. Increasing cases of alarm fatigue and favorable regulatory scenarios in the U.S. and Canada are further contributing to market growth in this region. Moreover, the presence of major market players in the region, such as GE Healthcare, Ascom, and Koninklijke Philips N.V., is expected to fuel market growth. Canada has a large number of inpatient hospitalizations due to various health problems. According to CIHI, in February 2022, acute inpatient hospitalizations in Canada were over 2.7 million between 2020 and 2021. Most common admissions were for cesarean section surgeries, followed by hip and knee replacements.

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1. The global nurse call systems market size was valued at USD 1.7 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 12.11% from 2023 to 2030.

2. The global healthcare predictive analytics market size was estimated at USD 14.58 billion in 2023 and is projected to grow at a CAGR of 24.0% from 2024 to 2030.

Clinical Alarm Management Company Insights

Some of the key players operating in the market include Koninklijke Philips N.V., General Electric Company (GE Healthcare), Ascom, and Spok, Inc.

1. Koninklijke Philips N.V. (Royal Philips) is the parent company of Philips Group, which handles all its healthcare technology businesses. Being the healthcare arm of its parent company, Philips Group is divided into four reportable business segments: Diagnosis & Treatment, Connected Care, Personal Health, and Other. The company is a global leader in improving people’s health through its wide portfolio of diagnostic, treatment, and homecare products & services

2. GE Healthcare, a division of General Electric Company, is a global publicly operated company involved in respiratory care systems and ultrasound machines. The company sells and manufactures radiopharmaceuticals and diagnostic imaging agents for imaging modalities used in medical imaging procedures

3. Vocera Communications, Capsule Technologies, Inc., Medtronic, and West-Com. are some of the emerging market participants in the artificial intelligence market.

4. Vocera Communications is a publicly operated multinational company involved in telecommunication. It offers the leading platform for clinical communication and workflow. It simplifies and improves the lives of healthcare professionals & patients, enabling hospitals to enhance their quality of care & operational efficiency

5. Capsule Technologies, Inc. is a privately held company involved in medical devices. The company is a global provider of medical device integration solutions for hospitals and healthcare organizations. It specializes in medical device integration, clinical surveillance, and patient monitoring

Key Clinical Alarm Management Companies:

The following are the leading companies in the clinical alarm management market market. These companies collectively hold the largest market share and dictate industry trends. Financials, strategy maps & products of these clinical alarm management companies are analyzed to map the supply network.

1. Koninklijke Philips N.V.

2. General Electric Company (GE Healthcare)

3. Ascom

4. Spok, Inc.

5. Masimo

6. Hill-Rom Services, Inc.

7. Vocera Communications

8. Capsule Technologies, Inc.

9. Medtronic

10. West-Com

Segments Covered in the Report

Grand View Research has segmented the global clinical alarm management market report based on product, component, end-use, and region:

Clinical Alarm Management Product Outlook (Revenue, USD Million, 2018 - 2030)

1. Nurse Call Systems

2. Physiological Monitors

3. Bed Alarms

4. EMR Integration Systems

5. Ventilators

6. Others

Clinical Alarm Management Component Outlook (Revenue, USD Million, 2018 - 2030)

1. Solutions

2. Services

Clinical Alarm Management End-use Outlook (Revenue, USD Million, 2018 - 2030)

1. Hospitals & Clinics

2. Home Care Settings

3. Ambulatory Care Centers

4. Long-Term Care Facilities

5. Specialty Centers

Clinical Alarm Management Regional Outlook (Revenue, USD Million, 2018 - 2030)

1. North America

   1. US

   2. Canada

2. Europe

   1. Germany

   2. UK

   3. France

   4. Italy

   5. Spain

   6. Denmark

   7. Sweden

   8. Norway

3. Asia Pacific

   1. China

   2. India

   3. Japan

   4. Australia

   5. South Korea

   6. Thailand

4. Latin America

   1. Brazil

   2. Mexico

   3. Argentina

5. MEA

   1. South Africa

   2. Saudi Arabia

   3. UAE

   4. Kuwait

Recent Developments

1. In June 2023, Niels-Stensen-Kliniken GmbH hired Ascom for a 1 million Swiss franc project to install the smart alarming system and IP-DECT infrastructure.

2. In April 2023, Philips and Northwell Health partnered for a seven-year agreement to standardize patient monitoring, enhance care, and improve outcomes. The collaboration aims to establish a platform for innovative technologies, ensuring scalability and flexibility

3. In March 2023, Ascom secured a frame agreement with UniHA, the French public hospital purchasing network, valued at around EUR 3 million. The collaboration aims to digitize patient monitoring, improve work conditions, and enhance care delivery

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