Clinical Alarm Management Market Size, Share & Trends Analysis Report By Product (Nurse Call System, Bed Alarms), By Component (Solutions, Services), By End Use (Hospitals & Clinics), By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global clinical alarm management market size was valued at USD 1.2 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 21.30% from 2023 to 2030. Growing cases of alarm fatigue and the need for cost-containment are the factors expected to boost the market growth. Furthermore, prolonged hospital stays coupled with the rising prevalence of various chronic diseases and technological advancements in the clinical alarm management sector are also anticipated to fuel market growth.

Furthermore, there is no doubt that technology has a significant impact on the entire healthcare system, from medical billing to medical management, including clinical alarm management. Growing efforts by notable players to set themselves apart from competitors have increased support for technological advancements at the lowest cost possible, which has ultimately led to market growth. In addition, improved patient safety and, perhaps, fewer missed true positive alarms are prominent market drivers as alarm fatigue is a major issue related to patient safety & quality

During the COVID-19 pandemic, the problem of alarm fatigue rapidly increased. This increased the adoption of clinical alarm management solutions, which positively influenced the market growth. Various institutes were also carrying out various activities for the development of technologically advanced solutions. For instance, in January 2021, a few researchers in New York, the U.S. developed a COVID-specific algorithm, which works by ranking patients’ likelihood of respiratory failure experience in 48 hours. Therefore, such factors have positively impacted the market during the COVID-19 pandemic.

Increasing cases of alarm fatigue are expected to boost the demand for clinical alarm management solutions as well as services. For instance, according to Full Beaker, Inc., as of August 2019, around 72-99% of all alarms in healthcare facilities, such as hospitals are false, which leads to alarm fatigue. Owing to such a growing number of false alarms, the true alarms which are supposed to alert clinicians of the real problems with patients are ignored sometimes. This drives the market growth during the forecast period.

Various benefits of clinical alarm management solutions are also likely to increase the demand for these solutions which fuels the market growth. These benefits are clinical, operational, as well as financial. Clinical benefits include enhanced patient and family satisfaction, improved sleep and rest, reduction in non-actionable alarms and gaps in alarm protocol, and enhanced patient safety along with possibly fewer missed true positive alarms. Operational benefits include decreased alarm fatigue, growing staff satisfaction, less burnout, improved productivity, and better use of nursing resources. Financial benefits include a reduction in staff turnover, decreased patient length of stay, avoidable patient harm and potentially costly repercussions from ICU transfers extended length of stay and litigation.

Component Insights

The clinical alarm management solutions segment dominated the market and accounted for the largest revenue share in 2022. 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 the market over the forecast period.

The services segment is estimated to witness the fastest growth rate over the forecast period owing to initiatives by public and private health institutions, increasing service offerings by key market players, and growing demand to minimize risks to patient safety, which is anticipated to fuel the segment growth in the coming years. Technological advancements and the rising number of clinical alarm management service providers are other factors expected to propel market growth.

Product Insights

The nurse call systems segment dominated the market and accounted for the largest revenue share of over 20.0% in 2022. The factors attributed to this large share include product developments driven by wireless technology and automation, and the need to improve clinical workflow and 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 the market growth during the projected period.

The EMR integration systems segment is anticipated to witness the highest CAGR of 20.0% from 2023 to 2030 owing to rising digitalization in healthcare, a surge in adoption of EHR/ EMR solutions from clinics to hospitals, and rising interoperability across digital healthcare solutions. The Vocera Platform offered by Vocera Communications, on the other hand, provides extensive interoperability solutions to enable clinical communication and workflow as part of a single platform.

End-Use Insights

The hospitals and clinics segment dominated the market and accounted for the largest revenue share of over 25% in 2022 due to the growing patient flow, rising emergency cases, and incorporation of sophisticated clinical alarm management solutions. Moreover, the home care settings segment is estimated to grow owing to the need to improve patient safety in-home care settings through effective patient monitoring and ensuring a timely response.

The long-term care facilities segment is anticipated to witness the fastest growth rate over the forecast period owing to the growing number of old-age facilities and growing awareness regarding the importance of clinical alarm management solutions in these facilities. Alarm safety and alarm fatigue have emerged as critical issues in ensuring patient safety. Solutions require a multidisciplinary analysis at the systems level to identify the root cause.

Regional Insights

North America dominated the clinical alarm management market and accounted for the largest revenue share of over 44.0% in 2022, attributed to the growing importance of providing quality healthcare services. Increasing cases of alarm fatigue and favorable regulatory scenario in the U.S. as well as Canada are further contributing to market growth in this region. Moreover, the presence of major market players, such as GE Healthcare, Ascom, and Koninklijke Philips N.V. in the region is also expected to fuel market growth.

In the Asia Pacific, the market is anticipated to witness the highest CAGR over the forecast period. This can be attributed to the growing adoption of technologically advanced solutions for providing better healthcare facilities. Furthermore, increasing investments in the healthcare sector in countries such as Australia, China, India, and Japan, among others is also expected to boost the market growth.

Key Companys & Market Share Insights

The market is very competitive in nature. The key players are involved in new product launches, product innovations, acquisitions, and partnerships to gain a competitive edge over each other. For instance, in April 2021, Vocera Communications acquired PatientSafe Solutions. PatientSafe Solutions consolidates alerts, secure messages, voice calls, and nurse call notifications with data from the electronic medical record to enable care teams to quickly manage mission-critical workflows in one mobile smartphone app. Some of the prominent players in the global clinical alarm management market include:

• Koninklijke Philips N.V.

• General Electric Company

• Ascom

• Spok

• Masimo

• Hill-Rom Services, Inc. (Baxter)

• Vocera Communications (Stryker)

• Medtronic

• Drägerwerk AG & Co. KGaA

• West-Com Nurse Call Systems, Inc.

Clinical Alarm Management Market Report Scope

Global Clinical Alarm Management Market Segmentation

This report forecasts revenue growth at the regional & country level and provides an analysis of the latest trends and opportunities in each of the sub-segments from 2017 to 2030. For this report, Grand View Research has segmented the global clinical alarm management market based on product, component, end-use, and region:

• Product Outlook (Revenue, USD Million, 2017 - 2030)

  • Nurse Call Systems

  • Physiological Monitors

  • Bed Alarms

  • EMR Integration Systems

  • Ventilators

  • Others

• Component Outlook (Revenue, USD Million, 2017 - 2030)

  • Solutions

  • Services

• End-use Outlook (Revenue, USD Million, 2017 - 2030)

  • Hospitals & Clinics

  • Home Care Settings

  • Ambulatory Care Centers

  • Long-Term Care Facilities

  • Specialty Centers

• Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

    • Denmark

    • Sweden

    • Norway

  • Asia Pacific

    • China

    • India

    • Japan

    • Australia

    • South Korea

    • Thailand

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • MEA

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait