Clinical Alarm Management Industry Overview

The global clinical alarm management market size was estimated at USD 2.13 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 17.0% from 2024 to 2030. Growing cases of alarm fatigue and the need for cost-containment are the factors expected to boost market growth. Furthermore, prolonged hospital stays coupled with technological advancements in this sector and rising prevalence of various chronic diseases are most likely to fuel market growth. Increasing cases of alarm fatigue are expected to boost the demand for alarm management solutions as well as services. Alarm fatigue is a significant concern in healthcare, leading to excessive non-actionable alarms that can compromise patient safety.

Gather more insights about the market drivers, restrains and growth of the Clinical Alarm Management Market

The Making Health Care Safer (MHCS) reports from the Agency for Healthcare Research and Quality (AHRQ) emphasize implementing safety culture elements, risk assessments, and training to reduce alarm burden and improve overall patient care. Owing to false alarms, the true alarms that are supposed to alert clinicians of the real problems with patients are ignored sometimes. This drives the demand for such solutions. Various benefits of alarm management solutions are also likely to increase their demand, which will support market growth.

These benefits are clinical, operational, as well as financial. Clinical benefits comprise improved patient and family satisfaction, enhanced sleep & rest, and reduction in non-actionable alarms & gaps in alarm protocol. This also enhances patient safety along with possibly fewer missed true positive alarms. Operational benefits include decreased alarm fatigue, staff satisfaction, less burnout, improved productivity, and better use of nursing resources.

Financial benefits include reduced staff turnover, decreased patient length of stay, and preventable patient harm & potentially costly repercussions from ICU transfers, extended span of stay, & litigation. If dealt with the necessary effort, these issues can be resolved by the companies. Furthermore, technology has a notable impact on the healthcare system, from medical billing to medical management. Increasing efforts by key companies to differentiate themselves from competitors have led to a rise in technological advancements at the lowest cost possible, which has eventually led to market growth.

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• The global clinical perinatal software market size was estimated at USD 203.1 million in 2019 and is expected to witness a compound annual growth rate (CAGR) of 8.3% from 2020 to 2027.
• The global nurse call systems market size was valued at USD 1.7 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 12.11% from 2023 to 2030.

Clinical Alarm Management Market Segmentation

Grand View Research has segmented the global clinical alarm management market report based on product, component, end-use, and region:

Clinical Alarm Management Product Outlook (Revenue, USD Million, 2018 - 2030)

• Nurse Call Systems
• Physiological Monitors
• Bed Alarms
• EMR Integration Systems
• Ventilators
• Others

Clinical Alarm Management Component Outlook (Revenue, USD Million, 2018 - 2030)

• Solutions
• Services

Clinical Alarm Management End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals & Clinics
• Home Care Settings
• Ambulatory Care Centers
• Long-Term Care Facilities
• Specialty Centers

Clinical Alarm Management Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
  • US
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Denmark
  • Sweden
  • Norway
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • Thailand
• Latin America
  • Brazil
  • Mexico
  • Argentina
• MEA
  • South Africa
  • Saudi Arabia
  • UAE
  • Kuwait

Key Companies profiled:

• Koninklijke Philips N.V.
• General Electric Company (GE Healthcare)
• Ascom
• Spok, Inc.
• Masimo
• Hill-Rom Services, Inc.
• Vocera Communications
• Capsule Technologies, Inc.
• Medtronic
• West-Com

Key Clinical Alarm Management Company Insights

Some of the key players operating in the market include Koninklijke Philips N.V., General Electric Company (GE Healthcare), Ascom, and Spok, Inc.

• Koninklijke Philips N.V. (Royal Philips) is the parent company of Philips Group, which handles all its healthcare technology businesses. Being the healthcare arm of its parent company, Philips Group is divided into four reportable business segments: Diagnosis & Treatment, Connected Care, Personal Health, and Other. The company is a global leader in improving people’s health through its wide portfolio of diagnostic, treatment, and homecare products & services
• GE Healthcare, a division of General Electric Company, is a global publicly operated company involved in respiratory care systems and ultrasound machines. The company sells and manufactures radiopharmaceuticals and diagnostic imaging agents for imaging modalities used in medical imaging procedures
• Vocera Communications, Capsule Technologies, Inc., Medtronic, and West-Com. are some of the emerging market participants in the artificial intelligence market.

Recent Developments

• In June 2023, Niels-Stensen-Kliniken GmbH hired Ascom for a 1 million Swiss franc project to install the smart alarming system and IP-DECT infrastructure.
• In April 2023, Philips and Northwell Health partnered for a seven-year agreement to standardize patient monitoring, enhance care, and improve outcomes. The collaboration aims to establish a platform for innovative technologies, ensuring scalability and flexibility

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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.