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Clinical Alarm Management Market Size To Grow By USD 2,393.76 Million From 2022 To 2027; The Increasing Demand For High Productivity And Reduced Turnaround Time Among End-users To Drive Market Growth - Technavio

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NEW YORK, May 29, 2023 /PRNewswire/ -- 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. View Sample Report!

The clinical alarm management market covers the following areas:

Clinical Alarm Management Market Sizing

Clinical Alarm Management Market Forecast

Clinical Alarm Management Market Analysis

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.

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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. 

For the market's vendor landscape highlights with a comprehensive list of vendors and their offerings - View Sample in a minutes

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.

View Sample Report in minutes of this report for more highlights into the market segments.

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.

For more key highlights on the regional market share of most of the above-mentioned countries.- View Sample Report

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.

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Clinical Alarm Management Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 15.56%

Market growth 2023-2027

USD 2,393.76 million

Market structure

Fragmented

YoY growth 2022-2023(%)

14.83

Regional analysis

North America, Europe, Asia, and Rest of World (ROW)

Performing market contribution

North America at 41%

Key countries

US, UK, Germany, China, and Japan

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

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., and West Com Nurse Call Systems Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Key Topics Covered:

1 Executive Summary

  • 1.1 Market overview 
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Component
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem 
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition 
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis 
    • Exhibit 13: Market segments
  • 3.3 Market size 2022 
  • 3.4 Market outlook: Forecast for 2022-2027
    • Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
    • Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
    • Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
    • Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

  • 4.1 Global clinical alarm management market 2017 - 2021
    • Exhibit 18: Historic Market Size – Data Table on Global clinical alarm management market 2017 - 2021 ($ million)
  • 4.2 End-user Segment Analysis 2017 - 2021
    • Exhibit 19: Historic Market Size – End-user Segment 2017 - 2021 ($ million)
  • 4.3 Component Segment Analysis 2017 - 2021
    • Exhibit 20: Historic Market Size – Component Segment 2017 - 2021 ($ million)
  • 4.4 Geography Segment Analysis 2017 - 2021
    • Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)
  • 4.5 Country Segment Analysis 2017 - 2021
    • Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

  • 5.1 Five forces summary 
    • Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
  • 5.2 Bargaining power of buyers 
    • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
  • 5.3 Bargaining power of suppliers 
    • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
  • 5.4 Threat of new entrants 
    • Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
  • 5.5 Threat of substitutes 
    • Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
  • 5.6 Threat of rivalry 
    • Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
  • 5.7 Market condition 
    • Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Component

  • 6.1 Market segments 
    • Exhibit 30: Chart on Component - Market share 2022-2027 (%)
    • Exhibit 31: Data Table on Component - Market share 2022-2027 (%)
  • 6.2 Comparison by Component 
    • Exhibit 32: Chart on Comparison by Component
    • Exhibit 33: Data Table on Comparison by Component
  • 6.3 Software - Market size and forecast 2022-2027
    • Exhibit 34: Chart on Software - Market size and forecast 2022-2027 ($ million)
    • Exhibit 35: Data Table on Software - Market size and forecast 2022-2027 ($ million)
    • Exhibit 36: Chart on Software - Year-over-year growth 2022-2027 (%)
    • Exhibit 37: Data Table on Software - Year-over-year growth 2022-2027 (%)
  • 6.4 Services - Market size and forecast 2022-2027
    • Exhibit 38: Chart on Services - Market size and forecast 2022-2027 ($ million)
    • Exhibit 39: Data Table on Services - Market size and forecast 2022-2027 ($ million)
    • Exhibit 40: Chart on Services - Year-over-year growth 2022-2027 (%)
    • Exhibit 41: Data Table on Services - Year-over-year growth 2022-2027 (%)
  • 6.5 Market opportunity by Component 
    • Exhibit 42: Market opportunity by Component ($ million)
    • Exhibit 43: Data Table on Market opportunity by Component ($ million)

7 Market Segmentation by End-user

  • 7.1 Market segments 
    • Exhibit 44: Chart on End-user - Market share 2022-2027 (%)
    • Exhibit 45: Data Table on End-user - Market share 2022-2027 (%)
  • 7.2 Comparison by End-user 
    • Exhibit 46: Chart on Comparison by End-user
    • Exhibit 47: Data Table on Comparison by End-user
  • 7.3 Hospitals and clinics - Market size and forecast 2022-2027 
    • Exhibit 48: Chart on Hospitals and clinics - Market size and forecast 2022-2027 ($ million)
    • Exhibit 49: Data Table on Hospitals and clinics - Market size and forecast 2022-2027 ($ million)
    • Exhibit 50: Chart on Hospitals and clinics - Year-over-year growth 2022-2027 (%)
    • Exhibit 51: Data Table on Hospitals and clinics - Year-over-year growth 2022-2027 (%)
  • 7.4 Long term care centers - Market size and forecast 2022-2027 
    • Exhibit 52: Chart on Long term care centers - Market size and forecast 2022-2027 ($ million)
    • Exhibit 53: Data Table on Long term care centers - Market size and forecast 2022-2027 ($ million)
    • Exhibit 54: Chart on Long term care centers - Year-over-year growth 2022-2027 (%)
    • Exhibit 55: Data Table on Long term care centers - Year-over-year growth 2022-2027 (%)
  • 7.5 Others - Market size and forecast 2022-2027
    • Exhibit 56: Chart on Others - Market size and forecast 2022-2027 ($ million)
    • Exhibit 57: Data Table on Others - Market size and forecast 2022-2027 ($ million)
    • Exhibit 58: Chart on Others - Year-over-year growth 2022-2027 (%)
    • Exhibit 59: Data Table on Others - Year-over-year growth 2022-2027 (%)
  • 7.6 Market opportunity by End-user 
    • Exhibit 60: Market opportunity by End-user ($ million)
    • Exhibit 61: Data Table on Market opportunity by End-user ($ million)

8 Customer Landscape

  • 8.1 Customer landscape overview 
    • Exhibit 62: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

  • 9.1 Geographic segmentation 
    • Exhibit 63: Chart on Market share by geography 2022-2027 (%)
    • Exhibit 64: Data Table on Market share by geography 2022-2027 (%)
  • 9.2 Geographic comparison 
    • Exhibit 65: Chart on Geographic comparison
    • Exhibit 66: Data Table on Geographic comparison
  • 9.3 North America - Market size and forecast 2022-2027
    • Exhibit 67: Chart on North America - Market size and forecast 2022-2027 ($ million)
    • Exhibit 68: Data Table on North America - Market size and forecast 2022-2027 ($ million)
    • Exhibit 69: Chart on North America - Year-over-year growth 2022-2027 (%)
    • Exhibit 70: Data Table on North America - Year-over-year growth 2022-2027 (%)
  • 9.4 Europe - Market size and forecast 2022-2027
    • Exhibit 71: Chart on Europe - Market size and forecast 2022-2027 ($ million)
    • Exhibit 72: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
    • Exhibit 73: Chart on Europe - Year-over-year growth 2022-2027 (%)
    • Exhibit 74: Data Table on Europe - Year-over-year growth 2022-2027 (%)
  • 9.5 Asia - Market size and forecast 2022-2027
    • Exhibit 75: Chart on Asia - Market size and forecast 2022-2027 ($ million)
    • Exhibit 76: Data Table on Asia - Market size and forecast 2022-2027 ($ million)
    • Exhibit 77: Chart on Asia - Year-over-year growth 2022-2027 (%)
    • Exhibit 78: Data Table on Asia - Year-over-year growth 2022-2027 (%)
  • 9.6 Rest of World (ROW) - Market size and forecast 2022-2027 
    • Exhibit 79: Chart on Rest of World (ROW) - Market size and forecast 2022-2027 ($ million)
    • Exhibit 80: Data Table on Rest of World (ROW) - Market size and forecast 2022-2027 ($ million)
    • Exhibit 81: Chart on Rest of World (ROW) - Year-over-year growth 2022-2027 (%)
    • Exhibit 82: Data Table on Rest of World (ROW) - Year-over-year growth 2022-2027 (%)
  • 9.7 US - Market size and forecast 2022-2027
    • Exhibit 83: Chart on US - Market size and forecast 2022-2027 ($ million)
    • Exhibit 84: Data Table on US - Market size and forecast 2022-2027 ($ million)
    • Exhibit 85: Chart on US - Year-over-year growth 2022-2027 (%)
    • Exhibit 86: Data Table on US - Year-over-year growth 2022-2027 (%)
  • 9.8 China - Market size and forecast 2022-2027
    • Exhibit 87: Chart on China - Market size and forecast 2022-2027 ($ million)
    • Exhibit 88: Data Table on China - Market size and forecast 2022-2027 ($ million)
    • Exhibit 89: Chart on China - Year-over-year growth 2022-2027 (%)
    • Exhibit 90: Data Table on China - Year-over-year growth 2022-2027 (%)
  • 9.9 UK - Market size and forecast 2022-2027
    • Exhibit 91: Chart on UK - Market size and forecast 2022-2027 ($ million)
    • Exhibit 92: Data Table on UK - Market size and forecast 2022-2027 ($ million)
    • Exhibit 93: Chart on UK - Year-over-year growth 2022-2027 (%)
    • Exhibit 94: Data Table on UK - Year-over-year growth 2022-2027 (%)
  • 9.10 Germany - Market size and forecast 2022-2027
    • Exhibit 95: Chart on Germany - Market size and forecast 2022-2027 ($ million)
    • Exhibit 96: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
    • Exhibit 97: Chart on Germany - Year-over-year growth 2022-2027 (%)
    • Exhibit 98: Data Table on Germany - Year-over-year growth 2022-2027 (%)
  • 9.11 Japan - Market size and forecast 2022-2027
    • Exhibit 99: Chart on Japan - Market size and forecast 2022-2027 ($ million)
    • Exhibit 100: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
    • Exhibit 101: Chart on Japan - Year-over-year growth 2022-2027 (%)
    • Exhibit 102: Data Table on Japan - Year-over-year growth 2022-2027 (%)
  • 9.12 Market opportunity by geography 
    • Exhibit 103: Market opportunity by geography ($ million)
    • Exhibit 104: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

  • 10.1 Market drivers 
  • 10.2 Market challenges 
  • 10.3 Impact of drivers and challenges 
    • Exhibit 105: Impact of drivers and challenges in 2022 and 2027
  • 10.4 Market trends 

11 Vendor Landscape

  • 11.1 Overview 
  • 11.2 Vendor landscape 
    • Exhibit 106: Overview on Criticality of inputs and Factors of differentiation
  • 11.3 Landscape disruption 
    • Exhibit 107: Overview on factors of disruption
  • 11.4 Industry risks 
    • Exhibit 108: Impact of key risks on business

12 Vendor Analysis

  • 12.1 Vendors covered 
    • Exhibit 109: Vendors covered
  • 12.2 Market positioning of vendors 
    • Exhibit 110: Matrix on vendor position and classification
  • 12.3 Ascom Holding AG 
    • Exhibit 111: Ascom Holding AG - Overview
    • Exhibit 112: Ascom Holding AG - Product / Service
    • Exhibit 113: Ascom Holding AG - Key offerings
  • 12.4 Baxter International Inc. 
    • Exhibit 114: Baxter International Inc. - Overview
    • Exhibit 115: Baxter International Inc. - Business segments
    • Exhibit 116: Baxter International Inc. - Key news
    • Exhibit 117: Baxter International Inc. - Key offerings
    • Exhibit 118: Baxter International Inc. - Segment focus
  • 12.5 Dragerwerk AG and Co. KGaA 
    • Exhibit 119: Dragerwerk AG and Co. KGaA - Overview
    • Exhibit 120: Dragerwerk AG and Co. KGaA - Business segments
    • Exhibit 121: Dragerwerk AG and Co. KGaA - Key offerings
    • Exhibit 122: Dragerwerk AG and Co. KGaA - Segment focus
  • 12.6 General Electric Co. 
    • Exhibit 123: General Electric Co. - Overview
    • Exhibit 124: General Electric Co. - Business segments
    • Exhibit 125: General Electric Co. - Key news
    • Exhibit 126: General Electric Co. - Key offerings
    • Exhibit 127: General Electric Co. - Segment focus
  • 12.7 GlobeStar Systems Inc. 
    • Exhibit 128: GlobeStar Systems Inc. - Overview
    • Exhibit 129: GlobeStar Systems Inc. - Product / Service
    • Exhibit 130: GlobeStar Systems Inc. - Key offerings
  • 12.8 Intercall Systems Inc. 
    • Exhibit 131: Intercall Systems Inc. - Overview
    • Exhibit 132: Intercall Systems Inc. - Product / Service
    • Exhibit 133: Intercall Systems Inc. - Key offerings
  • 12.9 Johnson Controls International Plc.
    • Exhibit 134: Johnson Controls International Plc. - Overview
    • Exhibit 135: Johnson Controls International Plc. - Business segments
    • Exhibit 136: Johnson Controls International Plc. - Key news
    • Exhibit 137: Johnson Controls International Plc. - Key offerings
    • Exhibit 138: Johnson Controls International Plc. - Segment focus
  • 12.10 Koninklijke Philips NV 
    • Exhibit 139: Koninklijke Philips NV - Overview
    • Exhibit 140: Koninklijke Philips NV - Business segments
    • Exhibit 141: Koninklijke Philips NV - Key news
    • Exhibit 142: Koninklijke Philips NV - Key offerings
    • Exhibit 143: Koninklijke Philips NV - Segment focus
  • 12.11 Masimo Corp. 
    • Exhibit 144: Masimo Corp. - Overview
    • Exhibit 145: Masimo Corp. - Product / Service
    • Exhibit 146: Masimo Corp. - Key offerings
  • 12.12 Medtronic Plc 
    • Exhibit 147: Medtronic Plc - Overview
    • Exhibit 148: Medtronic Plc - Business segments
    • Exhibit 149: Medtronic Plc - Key news
    • Exhibit 150: Medtronic Plc - Key offerings
    • Exhibit 151: Medtronic Plc - Segment focus
  • 12.13 Mindray Bio medical Electronics Co. Ltd
    • Exhibit 152: Mindray Bio medical Electronics Co. Ltd - Overview
    • Exhibit 153: Mindray Bio medical Electronics Co. Ltd - Product / Service
    • Exhibit 154: Mindray Bio medical Electronics Co. Ltd - Key offerings
  • 12.14 Mobile Heartbeat LLC 
    • Exhibit 155: Mobile Heartbeat LLC - Overview
    • Exhibit 156: Mobile Heartbeat LLC - Product / Service
    • Exhibit 157: Mobile Heartbeat LLC - Key offerings
  • 12.15 Spok Holdings Inc. 
    • Exhibit 158: Spok Holdings Inc. - Overview
    • Exhibit 159: Spok Holdings Inc. - Product / Service
    • Exhibit 160: Spok Holdings Inc. - Key offerings
  • 12.16 Vocera Communications Inc. 
    • Exhibit 161: Vocera Communications Inc. - Overview
    • Exhibit 162: Vocera Communications Inc. - Product / Service
    • Exhibit 163: Vocera Communications Inc. - Key offerings
  • 12.17 West Com Nurse Call Systems Inc. 
    • Exhibit 164: West Com Nurse Call Systems Inc. - Overview
    • Exhibit 165: West Com Nurse Call Systems Inc. - Product / Service
    • Exhibit 166: West Com Nurse Call Systems Inc. - Key offerings

13 Appendix

  • 13.1 Scope of the report 
  • 13.2 Inclusions and exclusions checklist
    • Exhibit 167: Inclusions checklist
    • Exhibit 168: Exclusions checklist
  • 13.3 Currency conversion rates for US$ 
    • Exhibit 169: Currency conversion rates for US$
  • 13.4 Research methodology 
    • Exhibit 170: Research methodology
    • Exhibit 171: Validation techniques employed for market sizing
    • Exhibit 172: Information sources
  • 13.5 List of abbreviations 
    • Exhibit 173: List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio

First published on Tue, May 30, 2023

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