Clinical Alarm Management Market by Product, Component, End User

Description

List of Tables

[196 Pages Report] The Clinical Alarm Management Market size was estimated at USD 1.69 billion in 2023 and expected to reach USD 1.99 billion in 2024, at a CAGR 17.87% to reach USD 5.35 billion by 2030.

Clinical alarms are designed to alert caregivers about vital clinical signs or changes in the patient's condition that need immediate attention. Clinical alarm management is the systematic approach to designing, delivering, and maintaining alarm systems within healthcare settings. The clinical alarm management sector includes software, hardware, and services that manage many alarms, reduce false alarms, help prioritize response, and maintain alarm systems effectively. Increased hospital admissions and rising incidences of chronic and acute diseases create the need for effective alarm management systems. Furthermore, growing awareness of patient safety and the risks associated with alarm fatigue among healthcare providers encourages the adoption of alarm management systems. However, difficulties in integrating alarm management systems with existing hospital infrastructure and the need to standardize clinical alarm management systems and solutions can hinder market growth. Additionally, ensuring the security of patient data and stringent clinical data privacy regulations such as the Health Insurance Portability and Accountability Act (HIPAA) remains a significant challenge. Players are exploring the implementation of advanced encryption technologies to improve data privacy. Market players can optimize alarm management by predicting patient events and reducing false alarms by leveraging AI and ML technologies. Furthermore, integrating alarm management solutions with electronic health record (EHR) systems presents novel opportunities for comprehensive patient data analysis and response prioritization.

KEY MARKET STATISTICS
Base Year [2023]	USD 1.69 billion
Estimated Year [2024]	USD 1.99 billion
Forecast Year [2030]	USD 5.35 billion
CAGR (%)	17.87%

Regional Insights

The Americas, especially the United States and Canada, form a significant market for clinical alarm management due to the high adoption rates of advanced healthcare technologies. Customers in this region prioritize patient-centric solutions with integrated technologies. Integrating advanced technologies such as ML/AI with the healthcare infrastructure has stimulated innovations in clinical alarm management in this region. Regulations such as the Health Insurance Portability and Accountability Act (HIPAA) also govern the clinical alarm management industry in the Americas region. EU countries have been proactive in adopting clinical alarm management systems driven by regional directives and country-specific regulations to ensure patient safety and reduce incidences of alarm fatigue. The growth of clinical alarm management in the EU region is influenced by consumer demand for interoperability and systems that integrate seamlessly into existing healthcare IT infrastructure. Research in the EU is oriented towards reducing false alarms and enhancing the accuracy of clinical alarms. The APAC region is experiencing rapid growth in clinical alarm management due to the burgeoning government initiatives to advance the healthcare industry in countries such as China, Japan, and India. China is witnessing increased investment in healthcare IT and advancing patient monitoring systems, with local and international players contributing to the market. India shows varied customer purchasing behavior, with government initiatives such as Digital India promoting digitization of healthcare, whereas the private sector is rapidly adopting newer technologies to compete globally.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Clinical Alarm Management Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers
- Increasing geriatric population and high incidence of chronic diseases
- Government initiatives to promote the digitalization of healthcare
- Need for effective clinical management to reduce nurse alarm fatigue

Market Restraints
- Compatibility issues of clinical alarm management software with legacy healthcare systems

Market Opportunities
- Advancements in alarm management with AI, ML, and IoT features
- Expanding integration of clinical alarm management with EHRs

Market Challenges
- Concerns regarding data security and privacy breaches

Market Segmentation Analysis
- Product: Generation of a tremendous amount of clinical data necessitating the adoption of EMR integration systems
- Component: Ongoing integration of advanced AI and data analytics technologies in solutions for clinical alarm management
- End User: Expanding government investments to incorporate advanced technologies in hospital infrastructure

Market Disruption Analysis
Porter's Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Clinical Alarm Management Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Clinical Alarm Management Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

TELUS Health Introduces New Medical Alert System For Older Adults

TELUS Health has introduced its innovative medical alert pendant to enhance the safety and independence of Canada's older adults. The device stands out for its simple yet efficient call-for-assistance button and superior fall detection technology, including the option to autonomously dismiss false alarms. [Published On: 2023-11-08]

CalmWave Launches AI Platform To Address Alarm Fatigue in ICUs

CalmWave unveiled its Transparent AI platform, a tool to revolutionize critical decision-making in medical settings. Drawing insights from extensive hospital datasets spanning an entire year, the platform delivers an exhaustive analysis of alarm metrics, equipping healthcare professionals with vital data to optimize alarm management and enhance patient care. [Published On: 2023-08-10]

SSG Unveil ACELO, a Revolutionary IP Nurse Call system

Static Systems Group Ltd. launched the ACELO Nurse Call System, which stands out as a groundbreaking solution for clinical alarm management, launched internationally to assist hospitals during times of extraordinary strain and reinforce their services' resilience. This market-first technology comes pre-programmed and ready-to-use ("plug and play") to ensure seamless integration with hospital IP communications, requiring no downtime for set-up. [Published On: 2023-08-08]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Clinical Alarm Management Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Clinical Alarm Management Market, highlighting leading vendors and their innovative profiles. These include aeSolutions, Aloe Care Health, Ametek, Inc., Amplion Communications, Ascom Holding AG, Baxter International Inc., Cardinal Health, Inc., Connexall by GlobeStar Systems Inc., Dragerwerk AG & Co. KGaA, FORBIX SEMICON Technologies Pvt. Ltd., GE HealthCare Technologies, Inc., Heinrich Limited, Hunan Beyond Medical Technology Co., Ltd., Johnson Controls International PLC, Koninklijke Philips N.V., LifeFone Medical Alert Services, Lone Star Communications, Inc., Masimo Corporation, Medtronic PLC, Midmark Corporation, Mobile Heartbeat, LLC, Multitone Electronics PLC, Nihon Kohden Corporation, Oracle Corporation, Sewacall by Jpnovations Solutions (P) Ltd., Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Spok Holdings, Inc., Stryker Corporation, TigerConnect, Inc., Vitalacy Inc., and West-Com Nurse Call Systems.

Market Segmentation & Coverage

This research report categorizes the Clinical Alarm Management Market to forecast the revenues and analyze trends in each of the following sub-markets:

Product
- Bed Alarms
- EMR Integration System
- Nurse Call System
- Physiological Monitors
- Ventilator Alarm Management

Component
- Services
- Solutions

End User
- Ambulatory Care Centers
- Hospitals
- Long-Term Care Centers

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

Product Code: MRR-034230D3E677

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increasing geriatric population and high incidence of chronic diseases
  - 5.1.1.2. Government initiatives to promote the digitalization of healthcare
  - 5.1.1.3. Need for effective clinical management to reduce nurse alarm fatigue
- 5.1.2. Restraints
  - 5.1.2.1. Compatibility issues of clinical alarm management software with legacy healthcare systems
- 5.1.3. Opportunities
  - 5.1.3.1. Advancements in alarm management with AI, ML, and IoT features
  - 5.1.3.2. Expanding integration of clinical alarm management with EHRs
- 5.1.4. Challenges
  - 5.1.4.1. Concerns regarding data security and privacy breaches
5.2. Market Segmentation Analysis
- 5.2.1. Product: Generation of a tremendous amount of clinical data necessitating the adoption of EMR integration systems
- 5.2.2. Component: Ongoing integration of advanced AI and data analytics technologies in solutions for clinical alarm management
- 5.2.3. End User: Expanding government investments to incorporate advanced technologies in hospital infrastructure
5.3. Market Trend Analysis
- 5.3.1. Presence of healthcare innovation centers and advanced healthcare infrastructures offers substantial opportunities for clinical alarm management in the Americas
- 5.3.2. Rising awareness about clinical alarm management in the Asia-Pacific with the modernization of healthcare centers and the diverse product offerings by global companies in the region
- 5.3.3. Healthcare digitalization and strong advancement by regional medtech companies to proliferate the development of clinical alarm management in EMEA
5.4. Cumulative Impact of High Inflation
5.5. Porter's Five Forces Analysis
- 5.5.1. Threat of New Entrants
- 5.5.2. Threat of Substitutes
- 5.5.3. Bargaining Power of Customers
- 5.5.4. Bargaining Power of Suppliers
- 5.5.5. Industry Rivalry
5.6. Value Chain & Critical Path Analysis
5.7. Regulatory Framework Analysis

6. Clinical Alarm Management Market, by Product

6.1. Introduction
6.2. Bed Alarms
6.3. EMR Integration System
6.4. Nurse Call System
6.5. Physiological Monitors
6.6. Ventilator Alarm Management

7. Clinical Alarm Management Market, by Component

7.1. Introduction
7.2. Services
7.3. Solutions

8. Clinical Alarm Management Market, by End User

8.1. Introduction
8.2. Ambulatory Care Centers
8.3. Hospitals
8.4. Long-Term Care Centers

9. Americas Clinical Alarm Management Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Clinical Alarm Management Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa Clinical Alarm Management Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. Market Share Analysis, 2023
12.2. FPNV Positioning Matrix, 2023
12.3. Competitive Scenario Analysis
- 12.3.1. TELUS Health Introduces New Medical Alert System For Older Adults
- 12.3.2. CalmWave Launches AI Platform To Address Alarm Fatigue in ICUs
- 12.3.3. SSG Unveil ACELO, a Revolutionary IP Nurse Call system
- 12.3.4. Medanta Launches Tele-ICU Service with GE Healthcare
- 12.3.5. Introducing Esprit-ai Sense Smart Bed Alarm-Hidden Under Mattress, Nurse Call Integrated with Advanced Sleep Quality Analysis
- 12.3.6. Mobile Heartbeat and Akkadian Labs Announce Technology Partnership
- 12.3.7. Ascom Wins Major Frame Agreement From UniHA in France for Medical Alarm Management Solution
- 12.3.8. Mindray Introduces New Wearable Patient Monitoring System, Refining Clinician's Workflow To Track Patient Conditions
- 12.3.9. Lone Star Acquires CareSight to Expand Alarm Management Services for Hospital Decision-Makers
- 12.3.10. GE Healthcare, Medtronic Partnership Accelerates Global Access To Personalized Care By Delivering Advanced Patient Monitoring Solutions on the CARESCAPE Platform

13. Competitive Portfolio

13.1. Key Company Profiles
13.2. Key Product Portfolio