Clinical Alarm Management Market by Product, Component, End User

Description

List of Tables

[186 Pages Report] The Clinical Alarm Management Market size was estimated at USD 1.43 billion in 2022 and expected to reach USD 1.69 billion in 2023, at a CAGR 17.89% to reach USD 5.35 billion by 2030.

Global Clinical Alarm Management Market

KEY MARKET STATISTICS
Base Year [2022]	USD 1.43 billion
Estimated Year [2023]	USD 1.69 billion
Forecast Year [2030]	USD 5.35 billion
CAGR (%)	17.89%

Clinical alarms are designed to alert caregivers about vital clinical signs or changes in the patient's condition that need immediate attention. Clinical alarm management is the systematic approach to designing, delivering, and maintaining alarm systems within healthcare settings. The clinical alarm management sector includes software, hardware, and services that manage many alarms, reduce false alarms, help prioritize response, and maintain alarm systems effectively. Increased hospital admissions and rising incidences of chronic and acute diseases create the need for effective alarm management systems. Furthermore, growing awareness of patient safety and the risks associated with alarm fatigue among healthcare providers encourages the adoption of alarm management systems. However, difficulties in integrating alarm management systems with existing hospital infrastructure and the need to standardize clinical alarm management systems and solutions can hinder market growth. Additionally, ensuring the security of patient data and stringent clinical data privacy regulations such as the Health Insurance Portability and Accountability Act (HIPAA) remains a significant challenge. Players are exploring the implementation of advanced encryption technologies to improve data privacy. Market players can optimize alarm management by predicting patient events and reducing false alarms by leveraging AI and ML technologies. Furthermore, integrating alarm management solutions with electronic health record (EHR) systems presents novel opportunities for comprehensive patient data analysis and response prioritization.

Regional Insights

The Americas, especially the United States and Canada, form a significant market for clinical alarm management due to the high adoption rates of advanced healthcare technologies. Customers in this region prioritize patient-centric solutions with integrated technologies. Integrating advanced technologies such as ML/AI with the healthcare infrastructure has stimulated innovations in clinical alarm management in this region. Regulations such as the Health Insurance Portability and Accountability Act (HIPAA) also govern the clinical alarm management industry in the Americas region. EU countries have been proactive in adopting clinical alarm management systems driven by regional directives and country-specific regulations to ensure patient safety and reduce incidences of alarm fatigue. The growth of clinical alarm management in the EU region is influenced by consumer demand for interoperability and systems that integrate seamlessly into existing healthcare IT infrastructure. Research in the EU is oriented towards reducing false alarms and enhancing the accuracy of clinical alarms. The APAC region is experiencing rapid growth in clinical alarm management due to the burgeoning government initiatives to advance the healthcare industry in countries such as China, Japan, and India. China is witnessing increased investment in healthcare IT and advancing patient monitoring systems, with local and international players contributing to the market. India shows varied customer purchasing behavior, with government initiatives such as Digital India promoting digitization of healthcare, whereas the private sector is rapidly adopting newer technologies to compete globally.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Clinical Alarm Management Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Clinical Alarm Management Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Clinical Alarm Management Market, highlighting leading vendors and their innovative profiles. These include aeSolutions, Aloe Care Health, Ametek, Inc., Amplion Communications, Ascom Holding AG, Baxter International Inc., Cardinal Health, Inc., Connexall by GlobeStar Systems Inc., Dragerwerk AG & Co. KGaA, FORBIX SEMICON Technologies Pvt. Ltd., GE HealthCare Technologies, Inc., Heinrich Limited, Hunan Beyond Medical Technology Co., Ltd., Johnson Controls International PLC, Koninklijke Philips N.V., LifeFone Medical Alert Services, Lone Star Communications, Inc., Masimo Corporation, Medtronic PLC, Midmark Corporation, Mobile Heartbeat, LLC, Multitone Electronics PLC, Nihon Kohden Corporation, Oracle Corporation, Sewacall by Jpnovations Solutions (P) Ltd., Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Spok Holdings, Inc., Stryker Corporation, TigerConnect, Inc., Vitalacy Inc., and West-Com Nurse Call Systems.

Market Segmentation & Coverage

This research report categorizes the Clinical Alarm Management Market to forecast the revenues and analyze trends in each of the following sub-markets:

Product
- Bed Alarms
- EMR Integration System
- Nurse Call System
- Physiological Monitors
- Ventilator Alarm Management
Component
- Services
- Solutions
End User
- Ambulatory Care Centers
- Hospitals
- Long-Term Care Centers
Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam
- Europe, Middle East & Africa
  - Denmark
  - Egypt
  - Finland
  - France
  - Germany
  - Israel
  - Italy
  - Netherlands
  - Nigeria
  - Norway
  - Poland
  - Qatar
  - Russia
  - Saudi Arabia
  - South Africa
  - Spain
  - Sweden
  - Switzerland
  - Turkey
  - United Arab Emirates
  - United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Clinical Alarm Management Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Clinical Alarm Management Market?

3. What are the technology trends and regulatory frameworks in the Clinical Alarm Management Market?

4. What is the market share of the leading vendors in the Clinical Alarm Management Market?

5. Which modes and strategic moves are suitable for entering the Clinical Alarm Management Market?

Product Code: MRR-034230D3E678

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Limitations
1.7. Assumptions
1.8. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

4.1. Introduction
4.2. Clinical Alarm Management Market, by Region

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increasing geriatric population and high incidence of chronic diseases
  - 5.1.1.2. Government initiatives to promote the digitalization of healthcare
  - 5.1.1.3. Need for effective clinical management to reduce nurse alarm fatigue
- 5.1.2. Restraints
  - 5.1.2.1. Compatibility issues of clinical alarm management software with legacy healthcare systems
- 5.1.3. Opportunities
  - 5.1.3.1. Advancements in alarm management with AI, ML, and IoT features
  - 5.1.3.2. Expanding integration of clinical alarm management with EHRs
- 5.1.4. Challenges
  - 5.1.4.1. Concerns regarding data security and privacy breaches
5.2. Market Segmentation Analysis
- 5.2.1. Product: Generation of a tremendous amount of clinical data necessitating the adoption of EMR integration systems
- 5.2.2. Component: Ongoing integration of advanced AI and data analytics technologies in solutions for clinical alarm management
- 5.2.3. End User: Expanding government investments to incorporate advanced technologies in hospital infrastructure
5.3. Market Trend Analysis
- 5.3.1. Presence of healthcare innovation centers and advanced healthcare infrastructures offers substantial opportunities for clinical alarm management in the Americas
- 5.3.2. Rising awareness about clinical alarm management in the Asia-Pacific with the modernization of healthcare centers and the diverse product offerings by global companies in the region
- 5.3.3. Healthcare digitalization and strong advancement by regional medtech companies to proliferate the development of clinical alarm management in EMEA
5.4. Cumulative Impact of High Inflation
5.5. Porter's Five Forces Analysis
- 5.5.1. Threat of New Entrants
- 5.5.2. Threat of Substitutes
- 5.5.3. Bargaining Power of Customers
- 5.5.4. Bargaining Power of Suppliers
- 5.5.5. Industry Rivalry
5.6. Value Chain & Critical Path Analysis
5.7. Regulatory Framework

6. Clinical Alarm Management Market, by Product

6.1. Introduction
6.2. Bed Alarms
6.3. EMR Integration System
6.4. Nurse Call System
6.5. Physiological Monitors
6.6. Ventilator Alarm Management

7. Clinical Alarm Management Market, by Component

7.1. Introduction
7.2. Services
7.3. Solutions

8. Clinical Alarm Management Market, by End User

8.1. Introduction
8.2. Ambulatory Care Centers
8.3. Hospitals
8.4. Long-Term Care Centers

9. Americas Clinical Alarm Management Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Clinical Alarm Management Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa Clinical Alarm Management Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. FPNV Positioning Matrix
12.2. Market Share Analysis, By Key Player
12.3. Competitive Scenario Analysis, By Key Player
- 12.3.1. Merger & Acquisition
  - 12.3.1.1. Lone Star Acquires CareSight to Expand Alarm Management Services for Hospital Decision-Makers
- 12.3.2. Agreement, Collaboration, & Partnership
  - 12.3.2.1. Medanta Launches Tele-ICU Service with GE Healthcare
  - 12.3.2.2. Mobile Heartbeat and Akkadian Labs Announce Technology Partnership
  - 12.3.2.3. Ascom Wins Major Frame Agreement From UniHA in France for Medical Alarm Management Solution
  - 12.3.2.4. GE Healthcare, Medtronic Partnership Accelerates Global Access To Personalized Care By Delivering Advanced Patient Monitoring Solutions on the CARESCAPE Platform
- 12.3.3. New Product Launch & Enhancement
  - 12.3.3.1. TELUS Health Introduces New Medical Alert System For Older Adults
  - 12.3.3.2. CalmWave Launches AI Platform To Address Alarm Fatigue in ICUs
  - 12.3.3.3. SSG Unveil ACELO, a Revolutionary IP Nurse Call system
  - 12.3.3.4. Introducing Esprit-ai Sense Smart Bed Alarm-Hidden Under Mattress, Nurse Call Integrated with Advanced Sleep Quality Analysis
  - 12.3.3.5. Mindray Introduces New Wearable Patient Monitoring System, Refining Clinician's Workflow To Track Patient Conditions

13. Competitive Portfolio

13.1. Key Company Profiles
- 13.1.1. aeSolutions
- 13.1.2. Aloe Care Health
- 13.1.3. Ametek, Inc.
- 13.1.4. Amplion Communications
- 13.1.5. Ascom Holding AG
- 13.1.6. Baxter International Inc.
- 13.1.7. Cardinal Health, Inc.
- 13.1.8. Connexall by GlobeStar Systems Inc.
- 13.1.9. Dragerwerk AG & Co. KGaA
- 13.1.10. FORBIX SEMICON Technologies Pvt. Ltd.
- 13.1.11. GE HealthCare Technologies, Inc.
- 13.1.12. Heinrich Limited
- 13.1.13. Hunan Beyond Medical Technology Co., Ltd.
- 13.1.14. Johnson Controls International PLC
- 13.1.15. Koninklijke Philips N.V.
- 13.1.16. LifeFone Medical Alert Services
- 13.1.17. Lone Star Communications, Inc.
- 13.1.18. Masimo Corporation
- 13.1.19. Medtronic PLC
- 13.1.20. Midmark Corporation
- 13.1.21. Mobile Heartbeat, LLC
- 13.1.22. Multitone Electronics PLC
- 13.1.23. Nihon Kohden Corporation
- 13.1.24. Oracle Corporation
- 13.1.25. Sewacall by Jpnovations Solutions (P) Ltd.
- 13.1.26. Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
- 13.1.27. Spok Holdings, Inc.
- 13.1.28. Stryker Corporation
- 13.1.29. TigerConnect, Inc.
- 13.1.30. Vitalacy Inc.
- 13.1.31. West-Com Nurse Call Systems
13.2. Key Product Portfolio

14. Appendix

14.1. Discussion Guide
14.2. License & Pricing