Clinical alarm management market to grow by USD 2,393.76 million

The clinical alarm management market is set to grow by USD 2,393.76 million from 2022 to 2027. The market is estimated to be progressing at a CAGR of 15.56% during the forecast period. Discover Health Care Technology industry potential and make informed business decisions based on qualitative and quantitative evidence highlighted in Technavio reports.

Clinical alarm management market – Vendor landscape
Clinical alarm management is expected to grow at a moderate rate during the forecast period owing to significant growth opportunities, the presence of large vendors, technological innovations, and partnerships in the market. The clinical alarm management market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Vendor offerings

• Ascom Holding AG – The company offers clinical alarm management solutions such as Ascom Healthcare Platform.
• Baxter International Inc. – The company offers clinical alarm management solutions such as Spectrum IQ Infusion System.
• Dragerwerk AG and Co. KGaA – The company offers clinical alarm management solutions such as Alarm Fatigue.

Clinical alarm management market – Key market segmentation
This clinical alarm management market report extensively covers market segmentation by component (software and services), end-user (hospitals and clinics, long-term care centers, and others), and geography (North America, Europe, Asia, and the Rest of World (ROW)).

• The market share growth by the software segment will be significant for overall market growth during the forecast period. The growth can be attributed to the criticality of software that helps in managing and distributing alarms in the hospital and leading to improved workflow, lower noise levels, and enhanced patient care. Market vendors provide customized alarm management solution, which includes primary monitoring at the bedside, the central station within the unit, and a mobile application on the caregiver’s smartphone. Hence, such factors drive segment growth during the forecast period.

Regional market outlook

• North America is estimated to account for 41% of the global market growth during the forecast period. Several governments in the region aggressively promote effective healthcare services and have increased investment in healthcare facilities. They are encouraging the geriatric population to adopt medical alert devices. Furthermore, a significant rise in the number of hospital visits has also increased the demand for clinical alarm management systems across new healthcare settings. For example, in 2020, an estimated 131 million emergency department (ED) visits occurred in the United States, according to the Centers for Disease Control and Prevention (CDC). Hence, such factors drive the regional market growth during the forecast period.

Companies mentioned

• Alpha Communications
• Amplion Clinical Communications Inc.
• Ascom Holding AG
• Baxter International Inc.
• Critical Alert
• CSINC
• Dragerwerk AG and Co. KGaA
• General Electric Co.
• GlobeStar Systems Inc.
• Intercall Systems Inc.
• Johnson Controls International Plc.
• Koninklijke Philips NV
• Masimo Corp.
• Medtronic Plc
• Mindray Bio medical Electronics Co. Ltd
• Mobile Heartbeat LLC
• Oracle Corp.
• Spok Holdings Inc.
• Vocera Communications Inc.
• West Com Nurse Call Systems Inc.

Clinical alarm management market – Market dynamics
Drivers
Increasing demand for high productivity and reduced turnaround time among end-users is the major factor that drives the growth of the global clinical alarm management market. The market vendors are consistently improving their portfolio of alarm management systems by introducing holistic monitoring systems. For example, Philips offers distributed alarm management solutions that facilitate efficient workflow, preventing alarm fatigue by providing a seamless approach from electrodes to monitors to mobile solutions to reporting and analysis.

Moreover, in order to meet the growing demand for timely diagnostics and increased productivity, end users are adopting automation technologies such as alarm management systems to help reduce their workload. Hence, such factors drive market growth during the forecast period.

Challenges
Concerns associated with clinical alarm management are a major challenge hindering the growth of the global clinical alarm management market. In non-actionable alarms, most alarms in hospital settings are non-actionable and they contribute to caregiver desensitization and alarm fatigue.

Furthermore, various studies have indicated that 80%-99% of alarms in hospital units are false or clinically insignificant. This problem leads to either alarm fatigue or ignorance of alarms assuming that an alarm is false. The sheer number of these alarms can lead to desensitization among nurses. Hence, such factors impede market growth during the forecast period. Technavio