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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

January 2024 | 200 pages | ID: GEBBAAEF4BDEEN
Bizwit Research & Consulting LLP

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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.

Masimo

Hill-Rom Services, Inc. (Baxter)

Vocera Communications (Stryker)

Medtronic

Drдgerwerk AG & Co. KGaA

West-Com Nurse Call Systems, Inc.

Recent Developments in the Market:
  • 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.
  • 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.
  • 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:
  • Historical Data – 2020 - 2021
  • Base Year for Estimation – 2022
  • Forecast period - 2023-2030
  • Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
  • Segments Covered - Product, Component, End-use, Region
  • Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
  • 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

Ventilators

Others

By Component:

Solutions

Services

By End-use:

Hospitals & Clinics

Home Care Settings

Ambulatory Care Facilities

Long-term Care Facilities

Specialty Centers

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

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
    3.1.1.1. Increasing healthcare expenditure and prolonged hospital stays
    3.1.1.2. Growing need for cost-containment measures in healthcare delivery
  3.1.2. Market Challenges
    3.1.2.1. Rising data security issues
    3.1.2.2. Lack of interoperability
  3.1.3. Market Opportunities
    3.1.3.1. Rising inclination towards the adoption of Electronic Health Record (EHR)
    3.1.3.2. 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
    8.4.1.1. Product breakdown estimates & forecasts, 2020-2030
    8.4.1.2. Component breakdown estimates & forecasts, 2020-2030
    8.4.1.3. 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
  9.1.2. Company
  9.1.3. Company
9.2. Top Market Strategies
9.3. Company Profiles
  9.3.1. Koninklijke Philips N.V.
    9.3.1.1. Key Information
    9.3.1.2. Overview
    9.3.1.3. Financial (Subject to Data Availability)
    9.3.1.4. Product Summary
    9.3.1.5. 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. Drдgerwerk 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

LIST OF TABLES

TABLE 1. Global Clinical Alarm Management Market, report scope
TABLE 2. Global Clinical Alarm Management Market estimates & forecasts by Region 2020-2030 (USD Billion)
TABLE 3. Global Clinical Alarm Management Market estimates & forecasts by Product 2020-2030 (USD Billion)
TABLE 4. Global Clinical Alarm Management Market estimates & forecasts by Component 2020-2030 (USD Billion)
TABLE 5. Global Clinical Alarm Management Market estimates & forecasts by End-use 2020-2030 (USD Billion)
TABLE 6. Global Clinical Alarm Management Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 7. Global Clinical Alarm Management Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 8. Global Clinical Alarm Management Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 9. Global Clinical Alarm Management Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 10. Global Clinical Alarm Management Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 11. Global Clinical Alarm Management Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 12. Global Clinical Alarm Management Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 13. Global Clinical Alarm Management Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 14. Global Clinical Alarm Management Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 15. Global Clinical Alarm Management Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 16. U.S. Clinical Alarm Management Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 17. U.S. Clinical Alarm Management Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 18. U.S. Clinical Alarm Management Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 19. Canada Clinical Alarm Management Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 20. Canada Clinical Alarm Management Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 21. Canada Clinical Alarm Management Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 22. UK Clinical Alarm Management Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 23. UK Clinical Alarm Management Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 24. UK Clinical Alarm Management Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 25. Germany Clinical Alarm Management Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 26. Germany Clinical Alarm Management Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 27. Germany Clinical Alarm Management Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 28. France Clinical Alarm Management Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 29. France Clinical Alarm Management Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 30. France Clinical Alarm Management Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 31. Italy Clinical Alarm Management Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 32. Italy Clinical Alarm Management Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 33. Italy Clinical Alarm Management Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 34. Spain Clinical Alarm Management Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 35. Spain Clinical Alarm Management Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 36. Spain Clinical Alarm Management Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 37. RoE Clinical Alarm Management Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 38. RoE Clinical Alarm Management Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 39. RoE Clinical Alarm Management Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 40. China Clinical Alarm Management Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 41. China Clinical Alarm Management Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 42. China Clinical Alarm Management Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 43. India Clinical Alarm Management Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 44. India Clinical Alarm Management Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 45. India Clinical Alarm Management Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 46. Japan Clinical Alarm Management Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 47. Japan Clinical Alarm Management Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 48. Japan Clinical Alarm Management Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 49. South Korea Clinical Alarm Management Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 50. South Korea Clinical Alarm Management Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 51. South Korea Clinical Alarm Management Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 52. Australia Clinical Alarm Management Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 53. Australia Clinical Alarm Management Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 54. Australia Clinical Alarm Management Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 55. RoAPAC Clinical Alarm Management Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 56. RoAPAC Clinical Alarm Management Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 57. RoAPAC Clinical Alarm Management Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 58. Brazil Clinical Alarm Management Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 59. Brazil Clinical Alarm Management Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 60. Brazil Clinical Alarm Management Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 61. Mexico Clinical Alarm Management Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 62. Mexico Clinical Alarm Management Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 63. Mexico Clinical Alarm Management Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 64. RoLA Clinical Alarm Management Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 65. RoLA Clinical Alarm Management Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 66. RoLA Clinical Alarm Management Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 67. Saudi Arabia Clinical Alarm Management Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 68. South Africa Clinical Alarm Management Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 69. RoMEA Clinical Alarm Management Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 70. List of secondary sources, used in the study of global Clinical Alarm Management Market
TABLE 71. List of primary sources, used in the study of global Clinical Alarm Management Market
TABLE 72. Years considered for the study
TABLE 73. Exchange rates considered
List of tables and figures and dummy in nature, final lists may vary in the final deliverable

LIST OF FIGURES

FIG 1. Global Clinical Alarm Management Market, research methodology
FIG 2. Global Clinical Alarm Management Market, Market estimation techniques
FIG 3. Global Market size estimates & forecast methods
FIG 4. Global Clinical Alarm Management Market, key trends 2022
FIG 5. Global Clinical Alarm Management Market, growth prospects 2023-2030
FIG 6. Global Clinical Alarm Management Market, porters 5 force model
FIG 7. Global Clinical Alarm Management Market, pest analysis
FIG 8. Global Clinical Alarm Management Market, value chain analysis
FIG 9. Global Clinical Alarm Management Market by segment, 2020 & 2030 (USD Billion)
FIG 10. Global Clinical Alarm Management Market by segment, 2020 & 2030 (USD Billion)
FIG 11. Global Clinical Alarm Management Market by segment, 2020 & 2030 (USD Billion)
FIG 12. Global Clinical Alarm Management Market by segment, 2020 & 2030 (USD Billion)
FIG 13. Global Clinical Alarm Management Market by segment, 2020 & 2030 (USD Billion)
FIG 14. Global Clinical Alarm Management Market, regional snapshot 2020 & 2030
FIG 15. North America Clinical Alarm Management Market 2020 & 2030 (USD Billion)
FIG 16. Europe Clinical Alarm Management Market 2020 & 2030 (USD Billion)
FIG 17. Asia pacific Clinical Alarm Management Market 2020 & 2030 (USD Billion)
FIG 18. Latin America Clinical Alarm Management Market 2020 & 2030 (USD Billion)
FIG 19. Middle East & Africa Clinical Alarm Management Market 2020 & 2030 (USD Billion)
List of tables and figures and dummy in nature, final lists may vary in the final deliverable


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