Global Clinical Alarm Management Market By Product (Nurse Call Systems, Physiological Monitors, and Others), By Component (Solutions, Services), By End-Use (Hospitals & Clinics, Home Care Settings, and Others), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

Clinical Alarm Management Market Overview:

The global market for clinical alarm management was worth USD 1,099.7 million in 2021. This market is expected to grow at a CAGR of 25.2% between 2023 and 2032.

The market is expected to grow due to rising alarm fatigue and increasing costs. Market growth will also be driven by the increasing prevalence of chronic diseases and prolonged hospital stays.

Global Clinical Alarm Management Market Scope:

Product analysis

The nursing call systems market dominated, accounting for over 26.3% of all revenue in 2021. These large shares can be attributed mainly to the rapid development of wireless technology and automation. Also, the need for improved clinical workflows and reduced operating costs in healthcare facilities while making the best use of existing resources are key factors. Market growth is expected to be boosted by increased funding for wireless technology and IP-based nursing call systems.

The EMR integration system segment is expected to see the highest CAGR of 24.3% in 2023-2032. This is due in part to the increasing digitalization of healthcare, increased adoption of EHR/ EMR solutions in hospitals, and growing interoperability between digital healthcare solutions. Vocera Communications offers extensive interoperability options to facilitate clinical communication and workflow.

Component analysis

In 2021, the segment of clinical alarm management solutions dominated the market. It accounted for the highest revenue share at more than 64.5%. This is due to key companies’ initiatives, the growing adoption of connected care technology in healthcare, and alarm fatigue. Market growth is expected to be driven by regulatory mandates and the need to reduce adverse patient events and false/ nuisance alarms.

The fastest growing segment in the market is the services segment. This is due to the increasing number of service offerings by key players and initiatives by public and privately-owned health institutions. Market growth will also be driven by technological advances and the increasing number of providers who offer clinical alarm management services.

End-Use analysis

The market’s largest segment, hospitals, and Clinics accounted for more than 28.5% revenue share in 2021. This is due to the increasing number of patients, rising emergency cases, as well as the integration of advanced clinical alarm management solutions. The segment of home care settings is expected to grow because of the need to improve patient safety through effective patient monitoring and ensure a prompt response.

The Long-term Care Facilities segment is accounted to grow at 29.9% in the forecast period. It’s due to an aggregate number of older-age facilities and a growing awareness regarding the need for clinical alarm management systems in these facilities. Alarm safety and alarm fatigue are crucial issues for patient safety. For the root cause to be identified, it is important to perform a multidisciplinary analysis of all systems.

Key Market Segments

By Product Type

• Physiological Monitors
• Nurse Call Systems
• Ventilators
• Bed Alarms
• EMR Integration Systems
• Others

By Component

• Solutions
• Services

By End-Use

• Home Care Settings
• Hospitals & Clinics
• Long-Term Care Facilities
• Specialty Centers
• Ambulatory Care Centers

Market Dynamics:

Alarm fatigue was a major problem during the COVID-19 Pandemic. This resulted in greater adoption of clinical alarm management software, which positively impacted market growth. Many institutes were also working on developing technologically advanced products.

In New York, USA, researchers developed a COVID algorithm in January 2021. This algorithm ranks patients’ risk of suffering from respiratory failure in less than 48 hours. Consequently, these factors have had a positive effect on the market during COVID-19. There will be an increase in alarm fatigue cases, which is expected to drive demand for medical alarm management solutions and services.

There are many benefits to clinical alarm management solutions, which will increase demand and fuel market growth. These benefits are operational and clinical as well as financially. The clinical benefits include increased patient satisfaction, improved sleep, and rest, reduced alarm protocol gaps, and non-actionable alarms. They also enhance patient safety and may reduce false positive alarms.

There are several operational benefits: less alarm fatigue, lower staff burnout, improved productivity, and greater use of nursing resources. Financial benefits include reduced staff turnover, shorter stays for patients, less patient harm, and possible litigation costs.

Regional Analysis

North America dominated clinical alarm management and held the largest revenue share at over 42.6% in 2021. This was due to the importance of high-quality healthcare services. This region is seeing a rise in alarm fatigue, as well as a favorable regulatory framework in Canada and the U.S. Market growth will also be fueled in part by the presence of major market players such as GE Healthcare N.V., Ascom, and Koninklijke Philips N.V.

Asia Pacific will see the highest expected CAGR of 27.3% in the forecast period. This is due to the increased adoption of technologically sophisticated solutions for better healthcare. It is also anticipated that the market will grow because of increased investment in the healthcare sector in countries like Australia & China as well as India & Japan.

Key Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share & Key Players Analysis:

The global Clinical Alarm Management market is fragmented. The market is extremely competitive. Key players are involved with new product launches, product innovations, and acquisitions. Vocera Communications purchased PatientSafe Solutions in April 2021, it combines secure voice calls and nurse call notifications with the medical record. This allows care teams quickly to manage mission-critical workflows using one mobile e-app.

The market leader in clinical alarm management is:

Маrkеt Кеу Рlауеrѕ:

• Koninklijke Philips N.V.
• General Electric Company (GE Healthcare)
• Ascom
• Spok, Inc.
• Masimo
• Hill-Rom Services, Inc.
• Vocera Communications
• Capsule Technologies, Inc.
• Other Key Players

For the Clinical Alarm Management Market research study, the following years have been considered to estimate the market size: