Clinical Alarm Management Market is Expected to Reach $5.4 Billion | MarketsandMarkets™

Chicago, Jan. 23, 2024 (GLOBE NEWSWIRE) -- Clinical Alarm Management market in terms of revenue was estimated to be worth $2.7 Billion in 2023 and is poised to reach $5.4 Billion by 2028, growing at a CAGR of 14.5% from 2023 to 2028 according to a latest report published by MarketsandMarkets™. The growth of the clinical alarm management market is primarily driven by factors such as the rising prevalence of CVD and strokes, including family history, ethnicity, and age, increasing geriatric population. The rise in low clinical significance alerts leading to alarm fatigue has been attributed to the growing prevalence of alarm-based devices, the increasing connectivity of patients to various devices, and the absence of standardization across these devices. On the other hand, factors such as lack of interoperability and high investments in infrastructural development to support IT systems might restraint the growth of the market.

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Clinical Alarm Management Market Scope:

Report Coverage Details
Market Revenue in 2023 $2.7 Billion
Estimated Value by 2028 $5.4 Billion
Growth Rate Poised to grow at a CAGR of 14.5%
Market Size Available for 2021 - 2028
Forecast Period 2023 - 2028
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered Product, Type, Deployment Mode, End User, Region
Geographies Covered North America (US, Canada, Mexico), Europe (Germany, France, UK, Italy, Spain, and the Rest of Europe), Asia Pacific (Japan, China, India, and the Rest of Asia Pacific), South America, and Middle East & Africa (GCC Countries, Rest of MEA)
Report Highlights Updated financial information / product portfolio of players
Key Market Opportunity Emerging Markets
Key Market Driver Rising prominence and usage of big data & mhealth tools

"Nurse call systems segment accounted for the largest share of by product segment of global clinical alarm management market."

Based on product, the clinical alarm management market is classified into nurse call systems, software, hardware/systems, and services. In 2022, nurse call systems dominated the market and accounted for the largest share during the forecast period. The robust expansion of the nurse call systems can be attributed to the manifold advantages associated with these systems, coupled with a pronounced demand from end-users. The benefits associated with nurse call systems (diverse applications, ease of communication, among others) and the advancements in healthcare information technology are some of the key factors driving the growth of this market segment. Furthermore, the segment's substantial share is influenced by efforts from research bodies to address risks related to alarm fatigue, the proliferation of technologically advanced nurse call systems in the market, and the growing emphasis among healthcare providers on formulating alarm management strategies to effectively mitigate alarm fatigue.

“On-premise segment accounted for the largest share of the global clinical alarm management market, by deployment mode.”

By deployment mode, the global clinical alarm management market is broadly classified into on-premise, cloud-based, and hybrid. The on-premise segment accounted for the largest share of this market. On-premise solutions grant healthcare organizations direct control over their data, allowing them to maintain sensitive patient information within their local infrastructure. Additionally, legacy systems, established workflows, the need for seamless integration with existing on-site infrastructure, perceived stability and reliability of having physical control over hardware are some of the factors are adding to the growth of this market.

"Hospitals segment accounted for the largest share of the global clinical alarm management market."

Based on end-user, the clinical alarm management market is stratified into seven key segments: hospitals & surgical centers, maternity care centers & fertility centers, home care settings, long-term & tertiary care centers, trauma & emergency care centers, ambulatory care centers & opds, and other end users. Notably, in 2022, the hospital segment emerged as the principal contributor to the clinical alarm management market. The growing adoption of clinical alarm management solutions among hospitals and the increasing number of government initiatives to improve the quality of care substantially propels the expansion of this specific end-user segment.

"North America is expected to dominate the clinical alarm management market in 2022."

The global clinical alarm management market is segmented across five prominent regions: North America, Europe, Asia Pacific, South America and the Middle East and Africa. In the year 2022, the North American region emerged as the primary driver of the largest market share within the Clinical alarm management domain. Within North America, encompassing the US, Canada, and Mexico, the market holds its most substantial presence. These nations have demonstrated early and proactive adoption of alarm management systems within healthcare facilities. The prevalence of established industry leaders, a well-established healthcare sector, and a pronounced emphasis on integrated healthcare IT systems to ensure reliability coupled with substantial investments contribute significantly to the substantial market share observed within this domain.

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Clinical Alarm Management market major players covered in the report, such as:

  • Koninklijke Philips N.V. (Netherlands)
  • Drägerwerk AG & Co. KGaA (Germany)
  • Baxter International, Inc. (US)
  • Stryker (Vocera Communications) (US)
  • GE Healthcare (US)
  • Ascom Holdings AG (Switzerland)
  • Spok, Inc. (US)
  • Masimo (US)
  • Connexall (Canada)
  • Cornell Communications (US)
  • Mobile Heartbeat (US)
  • Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China)
  • Intercall Systems, Inc. (US)
  • Medtronic Plc (Ireland)
  • Johnson Controls (Ireland)
  • West-Com Nurse Call Systems (US)
  • Oracle (Cerner Corporation) (US)
  • Teldio Corporation (Canada)
  • Alpha Communications (US)
  • Nihon Kohden Corporation (Japan)
  • TigerConnect (US)
  • JCT Healthcare Pty Ltd. (Australia)
  • Amplion Clinical Communications, Inc. (US)
  • AmpleLogic (India)
  • Tunstall Group (UK)
  • and Among Others

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The study categorizes the Clinical alarm management market into the following segments and subsegments:

Clinical alarm management market, By Product

  • Nurse Call Systems
    • Button-based systems
    • Integration communication systems
    • Other nurse call systems
  • Software
    • Connectivity Software
    • Clinical Decision Support tools
    • Other Software
  • Hardware/Systems
    • Ventilators
    • Patient Monitors
    • Respiratory monitors
    • Other systems
  • Services
    • Consulting & Implementation
    • Training & Education
    • Integration & Support

Clinical alarm management market, by Type

  • Centralized alarm management solutions
  • Decentralized/Distributed alarm management solutions

Clinical alarm management market, by Deployment Mode

  • On-premise
  • Cloud-based
  • Hybrid

Clinical alarm management market, By End User

  • Hospitals & Surgical Centers
  • Maternity Care Centers & Fertility Centers
  • Home Care Settings
  • Long-term & Tertiary Care Centers
  • Trauma and emergency care centers
  • Ambulatory Care Centers & OPDs
  • Other end users

Clinical alarm management Market, By Region,

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • Japan
    • China
    • India
    • Rest of Asia Pacific
  • South America
  • Middle East & Africa
    • GCC Countries
    • Rest of the Middle East & Africa

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Key Market Stakeholders:

  • Clinical Alarm Management Vendors
  • Medical Device Manufacturers
  • Alarm System Developers
  • Technology Companies
  • Government Bodies/Municipal Corporations
  • Regulatory Bodies
  • Healthcare Service Providers
  • Clinical/Physician Centers
  • Healthcare Professionals
  • Health It Providers
  • Healthcare Associations/Institutes
  • Assisted Living Centers/Nursing Homes
  • Ambulatory Care Centers
  • Venture Capitalists
  • Distributors And Resellers
  • Maintenance And Support Service Providers
  • Integration Service Providers
  • Healthcare Payers
  • Advocacy Groups
  • Data Security and Privacy Experts
  • Standards And Certification Organizations
  • Investors And Financial Institutions
  • Researchers And Academia
  • Industry Associations and Trade Groups
  • Consultancy Firms
  • Market Analysts and Research Firms

Report Objectives:

  • To define, describe, and forecast the global Clinical alarm management market based on component, product, type, deployment mode, end user, and region.
  • To provide detailed information regarding the major factors (such as drivers, restraints, opportunities, and challenges) influencing the market growth
  • To strategically analyze micro-markets with respect to individual growth trends, prospects, and contributions to the overall clinical alarm management market
  • To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders.
  • To strategically analyze the market structure profile the key players of the clinical alarm management market and comprehensively analyze their core competencies.
  • To forecast the size of the market segments with respect to five regions, namely, North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
  • To track and analyze competitive developments such as product launches and enhancements and investments, partnerships, collaborations, acquisitions, expansions, agreements, sales contracts, and alliances in the clinical alarm management market during the forecast period.

Related Reports:

Clinical Decision Support Systems Market

mHealth Solutions Market

Healthcare IT Integration Market

Nurse Call Systems Market

Clinical Workflow Solutions Market

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