Clinical Alarm Management Market by Product (Nurse Call Systems; Connectivity/Integration Software - EMR, Central Hubs, Notification/Alert; Ventilators, Patient Monitors, Capnography, Oximeter), Type (Centralized), End User, & Region - Global Forecast to 2028
The global clinical alarm management market in terms of revenue was estimated to be worth $2.7 billion in 2023 and is poised to reach $5.4 billion by 2028, growing at a CAGR of 14.5% from 2023 to 2028. The new research study consists of an industry trend analysis of the market. The new research study consists of industry trends, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market. Opportunities exist for solutions that leverage advanced analytics and artificial intelligence (AI) to enhance alarm prioritization, reduce false alarms, and provide actionable insights for better patient care. Moreover, a demand for customizable solutions that allow healthcare providers to tailor alarm settings, thresholds, and response protocols to match specific clinical workflows and patient populations. Additionally, the increasing adoption of remote patient monitoring and telehealth services creates opportunities for clinical alarm management solutions that can effectively handle alarms from patients in diverse and remote settings. There may be challenges such as implementation and maintenance costs associated with advanced clinical alarm systems are some of the factors expected to restrain the growth of this market in the coming years.
Attractive Opportunities in the Clinical Alarm Management Market
To know about the assumptions considered for the study, Request for Free Sample Report
Market Dynamics
Driver: Rising prominence and usage of big data & mhealth tools
The development of IT infrastructure in domains such as big data and mHealth plays a major role in facilitating the adoption of HCIT tools such as clinical alarm management. For instance, a clinician can collect real-time data from sources such as mHealth apps or the patient’s Internet-connected medical devices. The data can be run through clinical alarm management systems to equip physicians with real-time, evidence-based treatment options. This assists in health outcomes and curbs costs.
Business analytics and data management tools are required to track a large number of patients, store patient-related data, analyze cases, apply appropriate care interventions, and monitor results. In order to achieve the required results from clinical alarm management solutions, companies need to be able to capture and thoroughly analyze vast amounts of data, draw inferences from the data, and identify predictive markers. This allows healthcare providers to reduce alarm fatigue, make accurate clinical decisions, and integrate with freestanding and networked patient care devices and clinical systems, resulting in improved patient safety. In this regard, analytical tools for big data ensure extraction, analysis, and meaningful use of patient data to support evidence-based clinical decision-making. The rising prominence and usage of big data analytical tools are likely to propel the growth of the clinical alarm management market.
Restraint: High investments required to build IT infrastructure
The implementation of healthcare IT solutions requires robust infrastructure, in terms of multiple networks, wireless connectivity, security from data breaches, and technology. Cost issues act as a major barrier to the successful deployment of complex HCIT solutions. Currently, the infrastructural development in the healthcare industry is moving at a slow pace; therefore, to implement clinical alarm management solutions, the end users (Hospitals, inpatient & outpatient healthcare facilities) have to make further investments in improving & updating their infrastructure to support IT systems. In terms of IT infrastructure, high investments are required to build networks, develop standardized interfaces, middleware, increase data storage and processing capabilities. Furthermore, the software maintenance and update costs of these systems may sometimes be more than the actual price of the software, coupled with the IT support and maintenance services, which include software upgrades as per changing user requirements, represent a recurring expenditure to the owner.
While the implementation of clinical alarm management is beneficial for clinicians, the high cost of the supporting infrastructure and deployment of the solutions deters their adoption. In addition, the lack of internal IT expertise in the healthcare industry necessitates training for end users in order to maximize the efficiency of various clinical alarm management solutions, adding to the cost of ownership of the systems. Thus, the high cost of system development and hands-on training for personnel for optimal use of the solutions acts as an additional burden on clinicians.
Finding the required investments to develop IT infrastructure and bear the costs of deploying the solutions poses a serious challenge to the already-strained financial resources of healthcare providers. Also, a move to cloud-based clinical alarm management involves changing the current IT architecture, especially in hospitals that already serve as hubs connecting multiple physicians, laboratories, and pharmacists. Hence, the task of finding resources to achieve large-scale interoperability and interconnectivity could hamper the transition to cloud-based clinical alarm management for such healthcare institutions.
Opportunity: Emerging Markets
Several factors, such as the implementation of government initiatives supporting the adoption of HCIT solutions, rising government healthcare expenditure, and the presence of skilled IT experts in emerging markets, are expected to support the market growth for clinical alarm management (CAM).
Emerging markets across the Asia Pacific, such as India and China, are expected to provide significant growth potential for clinical alarm management companies and stakeholders. Technological advancements play a key role in the healthcare IT sector. In the realm of this, the authorities in Japan are focusing on reforming the country’s healthcare sector, which is currently facing challenges such as large volumes of unarranged patient data, overburdened city hospitals, and a nationwide shortage of doctors & other healthcare professionals. In May 2022, the Government of Japan formulated its “Global Health Strategy,” which aims to help in the development of a resilient Global Health Architecture for global health security and strengthening PPR (Prevention, Preparedness, and Response) for public health crises. The policy will also accelerate the efforts to achieve a more secure, equitable, and sustainable UHC in the post-COVID era to maximize human security (Source: Public Relations Office, Government of Japan). Such initiatives are poised to increase the adoption of care communication systems like clinical alarm management systems.
Challenge: Data Security Concerns
Data security is critical in clinical alarm management, especially in the healthcare industry. Patient data is sensitive, and its potential impact on patient safety necessitates robust security measures. Alarm management systems often contain vital patient data, such as vital signs, medications, and diagnoses, which are attractive to hackers and other cybercriminals. Weak authentication and authorization controls can allow unauthorized users to access patient data. Even insiders with legitimate access to the system may misuse their access to steal patient data.
The sensitivity of alarm-equipped medical devices has increased, leading to higher alarms and potential data security risks. The healthcare industry is vulnerable to cybersecurity threats, including phishing, data breaches, and cyberattacks, which can compromise patient data and the security of medical devices.
Medical identity theft is a significant concern in the healthcare industry, with approximately one-third of data breaches resulting in it. The reason behind the same is the lack of internal control over patient data, outdated policies and procedures in terms of access security, non-adherence to existing ones, and insufficient personnel training. The HIPAA Journal records depict that 707 healthcare data breaches took place in the US in 2022. The number of healthcare data breaches of 500 or more records as reported to the HHS Office for Civil Rights, has reached 5,150 between 2009 and 2021. These data breaches have resulted in the mislaying, theft, exposure, or impermissible disclosure of 382,262,109 healthcare records, which is more than 94.63% of the population of the US in 2021. In 2021, an average of 1.94 healthcare data breaches of 500 or more records were reported daily.
Thus, developing a secure & safe communication platform is a major challenge faced by IT vendors catering to the healthcare industry. Potential security concerns related to healthcare IT systems may lead to a rise in the sense of insecurity among users and, hence, restrain their adoption until secure clinical alarm management solutions are available in the market.
Clinical Alarm Management Market Ecosystem
The clinical alarm management market comprises entities responsible for delivering these solutions to end users via various deployment models. The ecosystem market map of the overall clinical alarm management market comprises the elements present in this market and defines these elements with a demonstration of the bodies involved The clinical alarm management market is fragmented, with a large number of intermediaries involved in the market. The ecosystem of this market comprises various vendors, such as data center providers, network/ connectivity providers, cloud professional platform providers, and hardware and supporting infrastructure providers. The figure below highlights the market players and their roles in the clinical alarm management market. The ecosystem represents a relationship between three elements—vendors, solutions/services, and end users/verticals.
The figure below highlights the ecosystem of the clinical alarm management market. The ecosystem represents a relationship between four elements—vendors, solutions/services, distributors, and end users/verticals.
Source: Secondary Literature, Interviews with Experts, and MarketsandMarkets Analysis
The global clinical alarm management market is segmented by component, product, type, deployment mode, end user, and region.
The integrated communication systems segment of the clinical alarm management industry expected to grow at the highest CAGR during the forecast period, by nurse call systems.
The nurse call systems market are further bifurcated into button-based systems, integrated communication systems, and other nurse call systems. The integrated communication systems segment is projected to be the fastest-growing market of the global clinical alarm management market from 2023 to 2028. These systems also help reduce continuous announcements to improve clinical workflows with communication based on real-time care team coverage. With these features, integrated communication systems overcome the challenges of data management. They also help in information interpretation, which in turn drives the capabilities of healthcare organizations. Owing to the many benefits of integrated communication systems, several healthcare providers are increasingly adopting these systems for smoother workflows and enhanced quality of care.
Cloud-based alarm management solutions: The fastest growing segment of the clinical alarm management industry, by deployment mode.“
The clinical alarm management market is segmented into on-premise, cloud-based, and hybrid alarm management solutions, by deployment mode. The cloud-based alarm management solutions segment is expected to register the highest growth during the forecast period. Cloud-based systems offer several advantages the on-premise setups. They provide healthcare organizations with flexibility, scalability and accessibility. Moreover, cost-effectiveness, and ease of remote and real-time monitoring are some of the factors attributing to the growth of the segment.
Patient Monitors: The largest segment of the clinical alarm management industry, by hardware/systems.
The clinical alarm management market, by hardware/systems, is categorized as ventilators, patient monitors, respiratory monitors, and other hardware/systems. Patient monitors accounted for the largest share of the global clinical alarm management market by hardware/systems during the forecast period. The growth in the segment is driven by a number of factors, such as the rising geriatric population, increasing prevalence of CVD, obesity, and hypertension, growing awareness of healthcare, and physicians’ recommendations for these devices.
North America is expected to dominate the clinical alarm management industry in 2022.
In 2022, North America commanded the foremost position in the global clinical alarm management market share during the forecast period. This commanding position is attributed to North America's robust technological underpinning, which serves as a fundamental bedrock for the seamless integration and implementation of alarm management systems within the healthcare domain. Undeniably, this region has spearheaded the early adoption of alarm management development & adoption pursuits. This leadership is underpinned by a nexus of crucial factors, including the presence of key industry players, a firmly established healthcare sector, substantial investments in research and development, and a steadfast focus on advancing innovative solutions. The culmination of these elements decisively contributes to North America's commanding market presence and is indicative of the region's sustained and remarkable growth trajectory in the clinical alarm management domain.
To know about the assumptions considered for the study, download the pdf brochure
Some of the prominent players are Koninklijke Philips N.V. (Netherlands), Drägerwerk AG & Co. KGaA (Germany), Baxter International, Inc. (US), Stryker (Vocera Communications) (US), GE Healthcare (US), Ascom Holdings AG (Switzerland), Spok, Inc. (US), Masimo (US), Connexall (Canada), Cornell Communications (US), Mobile Heartbeat (US), Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China), Intercall Systems, Inc. (US), Medtronic Plc (Ireland), Johnson Controls (Ireland), West-Com Nurse Call Systems (US), Oracle (Cerner Corporation) (US), Teldio Corporation (Canada), Alpha Communications (US), Nihon Kohden Corporation (Japan), TigerConnect (US), JCT Healthcare Pty Ltd. (Australia), Amplion Clinical Communications, Inc. (US), AmpleLogic (India), and Tunstall Group (UK). These players are increasingly focusing on as product launches and enhancements, investments, partnerships, collaborations, joint ventures, funding, acquisition, expansions, agreements, sales contracts, and alliances to strengthen their presence in the global market.
Scope of the Clinical Alarm Management Industry
Report Metric |
Details |
Market Revenue in 2023 |
$2.7 billion |
Projected Revenue by 2028 |
$5.4 billion |
Revenue Rate |
Poised to Grow at a CAGR of 14.5% |
Market Driver |
Rising prominence and usage of big data & mhealth tools |
Market Opportunity |
Emerging Markets |
The study categorizes the clinical alarm management market to forecast revenue and analyze trends in each of the following submarkets:
By Product
-
Nurse Call Systems
- Button-based systems
- Integration communication systems
- Other nurse call systems
-
Software
- Connectivity Software
- Clinical Decision Support tools
- Other Software
-
Hardware/Systems
- Ventilators
- Patient Monitors
- Respiratory monitors
- Other systems
-
Services
- Consulting & Implementation
- Training & Education
- Integration & Support
By Type
- Centralized alarm management solutions
- Decentralized/Distributed alarm management solutions
By Deployment Mode
- On-premise
- Cloud-based
- Hybrid
By End User
- Hospitals & Surgical Centers
- Maternity Care Centers & Fertility Centers
- Home Care Settings
- Long-term & Tertiary Care Centers
- Trauma and emergency care centers
- Ambulatory Care Centers & OPDs
- Other end users
By Region
-
North America
- US
- Canada
- Mexico
-
Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
-
Asia Pacific
- Japan
- China
- India
- Rest of Asia Pacific
- South America
-
Middle East & Africa
- GCC Countries
- Rest of the Middle East & Africa
Recent Developments of Clinical Alarm Management Industry
- In June 2023, Ascom and Niels-Stensen-Kliniken Group signed a contract to support the installation of the Ascom smart alarming system solution and IP-DECT infrastructure. The project is worth more than 1 million Swiss francs, including services.
- In April 2023, Koninklijke Philips N.V. and Northwell Health entered a seven-year agreement to help the health system standardize patient monitoring, enhance patient care, and improve patient outcomes while driving interoperability and data innovation.
- In April 2023, Mobile Heartbeat partnered with Akkadian Labs to integrate the company’s Akkadian Provisioning Manager with Mobile Heartbeat's MH-CURE. The partnership aims to streamline the provisioning process for Mobile Heartbeat users, hence, improving the clinical communication and collaboration experience for healthcare professionals.
- In March 2023, UniHA, the leading cooperative purchasing network for French public hospitals, selected Ascom as a unique provider for its multisource medical alarm management systems. The project includes software, mobility solutions and services.
Frequently Asked Questions (FAQ):
What is the projected market revenue value of the global clinical alarm management market?
The global clinical alarm management market boasts a total revenue value of $5.4 billion by 2028.
What is the estimated growth rate (CAGR) of the global clinical alarm management market?
The global clinical alarm management market has an estimated compound annual growth rate (CAGR) of 14.5% and a revenue size in the region of $2.7 billion in 2023.
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
This market research study involved the extensive use of secondary sources, directories, and databases to identify and collect information useful for this technical, market-oriented, and financial study of the clinical alarm management market. In-depth interviews were conducted with various primary respondents, including key industry participants, subject-matter experts (SMEs), C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information and to assess market prospects. The size of the clinical alarm management market was estimated through various secondary research approaches and triangulated with inputs from primary research to arrive at the final market size.
Secondary Research
The secondary research process involved the widespread use of secondary sources, directories, databases (such as Bloomberg Businessweek, Factiva, and D&B Hoovers), white papers, annual reports, company house documents, investor presentations, and SEC filings of companies. Some non-exclusive secondary sources include the Association for the Advancement of Medical Instrumentation (AAMI), the American Association of Critical-Care Nurses (AACN), the World Health Organization (WHO), the Organisation for Economic Co-operation and Development (OECD), Healthcare Information and Management Systems Society (HIMSS), European Federation for Medical Informatics (EFMI), Expert Interviews, and MarketsandMarkets Analysis.
Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and commercial study of the clinical decision support system market. It was also used to obtain important information about the key players and market classification and segmentation according to industry trends to the bottom-most level and key developments related to market and technology perspectives. A database of the key industry leaders was also prepared using secondary research.
Primary Research
Extensive primary research was conducted after acquiring basic knowledge about the global Clinical alarm management market scenario through secondary research. Several primary interviews were conducted with market experts from both the demand side (Hospital directors, Hospital Vice Presidents, Department heads, and Critical care specialists ) and supply side (such as C-level and D-level executives, technology experts, product managers, marketing and sales managers, among others) across five major regions—North America, Europe, the Asia Pacific, Latin America, Middle East, and Africa. This primary data was collected through questionnaires, e-mails, online surveys, personal interviews, and telephonic interviews.
Breakdown of Primary Interviews
Note 1: Tiers are defined based on the total revenues of companies. As of 2022, Tier 1 = >USD 1 billion, Tier 2 = USD 500 million to USD 1 billion, and Tier 3 = <USD 500 million.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
Both top-down and bottom-up approaches were used to estimate and validate the total size of the global Clinical alarm management market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
- Key players in the global clinical alarm management market were identified through secondary research, and their global market shares were determined through primary and secondary research
- The research methodology included the study of the annual and quarterly financial reports and regulatory filings, data books of major market players, and interviews with industry experts for detailed market insights.
- All percentage shares, splits, and breakdowns for the global clinical alarm management market were determined by using secondary sources and verified through primary sources.
- All key macro indicators affecting the revenue growth of market segments and subsegments have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get validated and verified quantitative and qualitative data.
- The gathered market data was consolidated and added with detailed inputs and analysis and presented in this report.
Global Clinical Alarm Management Market: Bottom-Up Approach
To know about the assumptions considered for the study, Request for Free Sample Report
Global Clinical Alarm Management Market: Top-Down Approach
Data Triangulation
After arriving at the overall market size, from the market size estimation process explained above, the clinical alarm management market was split into segments and subsegments. To complete the overall market engineering process and to arrive at the exact statistics for all segments and subsegments, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the clinical alarm management market.
Market Definition:
Clinical alarms refer to audible, visual, or tactile alerts generated by medical devices, monitoring systems, or healthcare equipment to notify healthcare providers or other relevant personnel about specific events or changes in a patient's condition. These alarms are designed to draw attention to situations that require prompt action or intervention.
Clinical alarms are crucial in healthcare settings by providing timely notifications of critical events, helping healthcare professionals monitor patients, and responding quickly to potential issues. Examples of clinical alarms include alerts related to abnormal vital signs, equipment malfunctions, or other conditions that may require immediate attention. They provide essential warnings to alert caregivers of changes in patient conditions. Alarm fatigue is a sensory overload that occurs when clinicians are exposed to excessive alarms, resulting in desensitization to alarms and missed alarms, adversely impacting patient safety and leading to life-threatening events.
Clinical alarm management is a safety initiative for healthcare providers that is critical for patient safety, essential for staff satisfaction, and mandated by regulatory agencies.
Key Stakeholders:
- Clinical Alarm Management Vendors
- Medical Device Manufacturers
- Alarm System Developers
- Technology Companies
- Government Bodies/Municipal Corporations
- Regulatory Bodies
- Healthcare Service Providers
- Clinical/Physician Centers
- Healthcare Professionals
- Health It Providers
- Healthcare Associations/Institutes
- Assisted Living Centers/Nursing Homes
- Ambulatory Care Centers
- Venture Capitalists
- Distributors And Resellers
- Maintenance And Support Service Providers
- Integration Service Providers
- Healthcare Payers
- Advocacy Groups
- Data Security And Privacy Experts
- Standards And Certification Organizations
- Investors And Financial Institutions
- Researchers And Academia
- Industry Associations And Trade Groups
- Consultancy Firms
- Market Analysts And Research Firms
Report Objectives
- To define, describe, and forecast the global Clinical alarm management market based on component, product, type, deployment mode, end user, and region.
- To provide detailed information regarding the major factors (such as drivers, restraints, opportunities, and challenges) influencing the market growth
- To strategically analyze micro-markets with respect to individual growth trends, prospects, and contributions to the overall clinical alarm management market
- To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders.
- To strategically analyze the market structure profile the key players of the clinical alarm management market and comprehensively analyze their core competencies.
- To forecast the size of the market segments with respect to five regions, namely, North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
- To track and analyze competitive developments such as product launches and enhancements and investments, partnerships, collaborations, acquisitions, expansions, agreements, sales contracts, and alliances in the clinical alarm management market during the forecast period.
Available Customizations:
With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:
Geographic Analysis
- Further breakdown of the Rest of the Asia Pacific market into Singapore, Malaysia, Thailand, and Australia, and others
- Further breakdown of the Rest of Europe market into Russia, Denmark, Sweden, Finland, and other European countries
Growth opportunities and latent adjacency in Clinical Alarm Management Market