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Global Clinical Alarm Management Market to reach USD 5.62 billion by the end of 2030

Global Clinical Alarm Management Market Size Study & Forecast, by Product (Nurse Call Systems, Physiological Monitors, Bed Alarms, EMR Integration Systems, Ventilators, Others), by Component (Solutions, Services), by End-use (Hospitals & Clinics, Home Care Settings, Ambulatory Care Facilities, Long-term Care Facilities, Specialty Centers), and Regional Analysis, 2023-2030

Product Code: HLSMDE-37042875
Publish Date: 20-01-2024
Page: 200

Global Clinical Alarm Management Market is valued at approximately USD 1.2 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 21.30% during the forecast period 2023-2030. Clinical alarm management involves the systematic oversight and optimization of alarms generated by medical devices in healthcare settings. It focuses on prioritizing alarms based on severity, customizing settings for individual patients, integrating systems for efficient communication, and employing technology solutions such as predictive analytics. The goal is to prevent alarm fatigue among healthcare professionals, ensuring that alarms are meaningful, relevant, and promptly addressed to enhance patient safety. This approach emphasizes the importance of education, training, and leveraging advanced technologies to improve the accuracy and effectiveness of clinical alarms. The surge in cases of alarm fatigue and the growing need for cost-containment measures in healthcare delivery, the high prevalence of chronic diseases, coupled with the rising geriatric population are the key factors that are contributing to the regional market growth across the globe.

In addition, rising healthcare expenditure and prolonged hospital stays are acting as a catalyzing factors for the demand for clinical alarm management, which is bolstering the market growth at a substantial rate. In the United States, the Centers for Medicare and Medicaid Services projected a 5.4% annual growth in national health spending, reaching USD 6.2 trillion by 2028. With health expenditure expected to outpace the GDP growth, the health share of the economy is projected to rise by 19.7% in 2028, creating opportunities for clinical alarm management and driving market growth. Additionally, Canada’s health expenditure increased from USD 301.5 billion in 2020 to USD 308.1 billion in 2021, indicating a rising trend. Similarly, Mexico’s health spending as a share of GDP was 6.2% in 2020, as reported by the OECD in June 2022, positively impacting the growth of the clinical alarm management market over the estimated period. Moreover, the rising inclination towards the adoption of Electronic Health Record (EHR), as well as the increasing use of big data and mHealth tools present various lucrative opportunities over the forecast years. However, the rising data security issues and the lack of interoperability are challenging the market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Clinical Alarm Management Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the rising utilization of technologically advanced solutions to enhance healthcare services, increasing emphasis on delivering high-quality healthcare services and a favorable regulatory environment in both the U.S. and Canada. Furthermore, the region benefits from the presence of key market players, including GE Healthcare, Ascom, and Koninklijke Philips N.V., contributing to the overall growth of the market. Whereas, Asia Pacific is expected to grow at the highest CAGR over the forecast years. The rising demand for clinical alarm management systems, rapid adoption of big data analytics, and growing investments in the healthcare sector, particularly in countries such as Australia, China, India, and Japan are significantly propelling the market demand across the region.

Major market players included in this report are:
Koninklijke Philips N.V.
General Electric Company
Ascom Holding AG
Spok Holdings, Inc.
Hill-Rom Services, Inc. (Baxter)
Vocera Communications (Stryker)
Drägerwerk AG & Co. KGaA
West-Com Nurse Call Systems, Inc.

Recent Developments in the Market:
Ø In June 2023, Ascom and Niels-Stensen-Kliniken Group entered into a contractual agreement for the implementation of the Ascom smart alarming system solution and IP-DECT infrastructure. This project, valued at over CHF 1 million (USD 1.18 million), encompasses various services.
Ø In April 2023, Koninklijke Philips N.V. and Northwell Health established a seven-year agreement aimed at standardizing patient monitoring, elevating patient care, and enhancing patient outcomes. This collaboration also focuses on fostering interoperability and driving innovation in data management.
Ø In February 2022, Vocera collaborated with Jupiter Medical Center to advance team communication and collaboration within the 248-bed hospital. The implementation involved deploying the wearable Vocera Smartbadge and the Vocera Edge smartphone application, facilitating the effective management of patient-centric alert notifications.

Global Clinical Alarm Management Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Product, Component, End-use, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product:
Nurse Call Systems
Physiological Monitors
Bed Alarms
EMR Integration Systems

By Component:

By End-use:
Hospitals & Clinics
Home Care Settings
Ambulatory Care Facilities
Long-term Care Facilities
Specialty Centers

By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Clinical Alarm Management Market, by Region, 2020-2030 (USD Billion)
1.2.2. Clinical Alarm Management Market, by Product, 2020-2030 (USD Billion)
1.2.3. Clinical Alarm Management Market, by Component, 2020-2030 (USD Billion)
1.2.4. Clinical Alarm Management Market, by End-use, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Clinical Alarm Management Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Clinical Alarm Management Market Dynamics
3.1. Clinical Alarm Management Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Increasing healthcare expenditure and prolonged hospital stays Growing need for cost-containment measures in healthcare delivery
3.1.2. Market Challenges Rising data security issues Lack of interoperability
3.1.3. Market Opportunities Rising inclination towards the adoption of Electronic Health Record (EHR) Increasing use of big data and mHealth tools
Chapter 4. Global Clinical Alarm Management Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Clinical Alarm Management Market, by Product
5.1. Market Snapshot
5.2. Global Clinical Alarm Management Market by Product, Performance – Potential Analysis
5.3. Global Clinical Alarm Management Market Estimates & Forecasts by Product 2020-2030 (USD Billion)
5.4. Clinical Alarm Management Market, Sub Segment Analysis
5.4.1. Nurse Call Systems
5.4.2. Physiological Monitors
5.4.3. Bed Alarms
5.4.4. EMR Integration Systems
5.4.5. Ventilators
5.4.6. Others
Chapter 6. Global Clinical Alarm Management Market, by Component
6.1. Market Snapshot
6.2. Global Clinical Alarm Management Market by Component, Performance – Potential Analysis
6.3. Global Clinical Alarm Management Market Estimates & Forecasts by Component 2020-2030 (USD Billion)
6.4. Clinical Alarm Management Market, Sub Segment Analysis
6.4.1. Solutions
6.4.2. Services
Chapter 7. Global Clinical Alarm Management Market, by End-use
7.1. Market Snapshot
7.2. Global Clinical Alarm Management Market by End-use, Performance – Potential Analysis
7.3. Global Clinical Alarm Management Market Estimates & Forecasts by End-use 2020-2030 (USD Billion)
7.4. Clinical Alarm Management Market, Sub Segment Analysis
7.4.1. Hospitals & Clinics
7.4.2. Home Care Settings
7.4.3. Ambulatory Care Facilities
7.4.4. Long-term Care Facilities
7.4.5. Specialty Centers
Chapter 8. Global Clinical Alarm Management Market, Regional Analysis
8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. Clinical Alarm Management Market, Regional Market Snapshot
8.4. North America Clinical Alarm Management Market
8.4.1. U.S. Clinical Alarm Management Market Product breakdown estimates & forecasts, 2020-2030 Component breakdown estimates & forecasts, 2020-2030 End-use breakdown estimates & forecasts, 2020-2030
8.4.2. Canada Clinical Alarm Management Market
8.5. Europe Clinical Alarm Management Market Snapshot
8.5.1. U.K. Clinical Alarm Management Market
8.5.2. Germany Clinical Alarm Management Market
8.5.3. France Clinical Alarm Management Market
8.5.4. Spain Clinical Alarm Management Market
8.5.5. Italy Clinical Alarm Management Market
8.5.6. Rest of Europe Clinical Alarm Management Market
8.6. Asia-Pacific Clinical Alarm Management Market Snapshot
8.6.1. China Clinical Alarm Management Market
8.6.2. India Clinical Alarm Management Market
8.6.3. Japan Clinical Alarm Management Market
8.6.4. Australia Clinical Alarm Management Market
8.6.5. South Korea Clinical Alarm Management Market
8.6.6. Rest of Asia Pacific Clinical Alarm Management Market
8.7. Latin America Clinical Alarm Management Market Snapshot
8.7.1. Brazil Clinical Alarm Management Market
8.7.2. Mexico Clinical Alarm Management Market
8.8. Middle East & Africa Clinical Alarm Management Market
8.8.1. Saudi Arabia Clinical Alarm Management Market
8.8.2. South Africa Clinical Alarm Management Market
8.8.3. Rest of Middle East & Africa Clinical Alarm Management Market

Chapter 9. Competitive Intelligence
9.1. Key Company SWOT Analysis
9.1.1. Company 1
9.1.2. Company 2
9.1.3. Company 3
9.2. Top Market Strategies
9.3. Company Profiles
9.3.1. Koninklijke Philips N.V. Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.3.2. General Electric Company
9.3.3. Ascom Holding AG
9.3.4. Spok
9.3.5. Masimo
9.3.6. Hill-Rom Services, Inc. (Baxter)
9.3.7. Vocera Communications (Stryker)
9.3.8. Medtronic
9.3.9. Drägerwerk AG & Co. KGaA
9.3.10. West-Com Nurse Call Systems, Inc.
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

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Data Collection:
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To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
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To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
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Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
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