“Clinical Alarm Management Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on clinical alarm management market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Where is the largest and fastest growing market for clinical alarm management? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The clinical alarm management market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
- 1) By Product: Physiological Monitors; Nurse Call Systems; Ventilators; Bed Alarms; Anesthesia Machines; Telemetry Monitors; Feeding Pumps; Other Products
- 2) By Component: Solutions; Services
- 3) By End-User: Hospitals and Clinics; Home Care Settings; Ambulatory Care Centers; Long-Term Care Facilities; Specialty Centers
- Companies Mentioned: Koninklijke Philips NV; GE Healthcare; Ascom Holdings; Spok Holdings Inc; Masimo
- Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
- Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
- Delivery Format: PDF, Word and Excel Data Dashboard.
Executive Summary
Major players in the clinical alarm management market are: Koninklijke Philips NV, GE Healthcare, Ascom Holdings, Spok Holdings Inc., Masimo, Vocera Communications, Medtronic, Dragerwerk AG, Connexall, Mobile Heartbeat, Hill-Rom Services Inc., Cornell Communications, Intercall Systems Inc., and Critical Alert.
The global clinical alarm management market is expected to grow from $1.98 billion in 2022 to $2.39 billion in 2023 at a compound annual growth rate (CAGR) of 20.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The clinical alarm management market is expected to grow to $5.18 billion in 2027 at a CAGR of 21.4%.
The clinical alarm management market consists of revenues earned by entities by providing services such as implementation, integration, consulting, monitoring, analytics. The market value includes the value of related goods sold by the service provider or included within the service offering. The clinical alarm management market also includes sales of EMR integration systems and monitors. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The way a healthcare team responds to unfavourable changes in a patient's condition is referred to as clinical alarm management. These are used in home and hospital settings in order to utilize technology and improve patient care, save time and money, and reduce alarm fatigue.
North America was the largest region in the clinical alarm management market in 2022. The regions covered in the clinical alarm management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of products in clinical alarm management are physiological monitors, nurse call systems, ventilators, bed alarms, anaesthesia machines, telemetry monitors, feeding pumps, and others. Physiological monitors are systems generally consisting of several components, including a central station, bedside monitors, and ambulatory telemetry transmitters and receivers. The different components include solutions and services that are used for various end-users such as hospitals and clinics, home care settings, ambulatory care centers, long-term care facilities, and specialty centers.
The growing cases of alarm fatigue are expected to propel the growth of the clinical alarm management market going forward. The term alarm fatigue refers to the sensory overload that occurs when clinicians receive an excessive number of alarms, leading to missed alarms and delayed responses. Several patient deaths have been attributed to alarm fatigue. Hospitals are increasingly recognizing alarm fatigue as a critical safety issue, and alarm management has become a priority improvement area. Clinical alarm management solutions help manage alarms and reduce alarm fatigue by using a modern clinical communication tool. For instance, in 2020, according to The Joint Commission, a US-based non-profit tax-exempt organization, alarm alert, and notification overload which mainly led to alarm fatigue were one of the top 10 health technology hazards and failure to respond to clinical alarms ranked 8th on The Joint Commission's list of top 10 sentinels (never) events. Thus, growing alarm fatigue is increasing the adoption of the clinical alarm management solution which is driving the clinical alarm management market.
Implementation of big data and artificial intelligence is a key trend gaining popularity in the clinical alarm management market. Major companies operating in the market are advancing toward the use of big data and artificial intelligence (AI) to meet customer demand. For instance, in September 2021, Medtronic, an Ireland-based medical device company, partnered with Statis Health, a wholly-owned subsidiary of Stasis Labs based in the US to provide a Stasis Monitor in India. Stasis Monitor is a patented artificial intelligence-enabled bedside patient monitoring system that has been cleared by the FDA to automate, digitise, document, and communicate critical patient information. Using predictive AI, this device alerts staff when a patient's condition deteriorates. This Monitors provide six vital signs in a single monitor including heart rate, blood oxygen level, electrocardiogram, respiratory rate, blood pressure, and temperature. It also connects with a tablet and cloud-connected app to enable remote monitoring across devices.
In January 2021, Philips, a Netherlands-based health technology company acquired Capsule Technologies for $635 million. Through this acquisition, Philips aimed to boost and scale its patient care management solutions portfolio including real-time patient monitoring across all healthcare settings. Capsule Technologies is a US-based provider of medical device integration and information solutions for healthcare providers including Capsule Surveillance, which aligns alert notifications to clinical practice.
The countries covered in the clinical alarm management market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The clinical alarm management market research report is one of a series of new reports from The Business Research Company that provides clinical alarm management market statistics, including clinical alarm management industry global market size, regional shares, competitors with clinical alarm management market share, detailed clinical alarm management market segments, market trends, and opportunities, and any further data you may need to thrive in the clinical alarm management industry. This clinical alarm management market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
Table of Contents
1. Executive Summary
2. Clinical Alarm Management Market Characteristics
3. Clinical Alarm Management Market Trends And Strategies
4. Clinical Alarm Management Market - Macro Economic Scenario
- 4.1. COVID-19 Impact On Clinical Alarm Management Market
- 4.2. Ukraine-Russia War Impact On Clinical Alarm Management Market
- 4.3. Impact Of High Inflation On Clinical Alarm Management Market
5. Clinical Alarm Management Market Size And Growth
- 5.1. Global Clinical Alarm Management Historic Market, 2017-2022, $ Billion
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints On The Market
- 5.2. Global Clinical Alarm Management Forecast Market, 2022-2027F, 2032F, $ Billion
- 5.2.1. Drivers Of The Market
- 5.2.2. Restraints On the Market
6. Clinical Alarm Management Market Segmentation
- 6.1. Global Clinical Alarm Management Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Physiological Monitors
- Nurse Call Systems
- Ventilators
- Bed Alarms
- Anesthesia Machines
- Telemetry Monitors
- Feeding Pumps
- Other Products
- 6.2. Global Clinical Alarm Management Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Solutions
- Services
- 6.3. Global Clinical Alarm Management Market, Segmentation By End-User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Hospitals and Clinics
- Home Care Settings
- Ambulatory Care Centers
- Long-Term Care Facilities
- Specialty Centers
7. Clinical Alarm Management Market Regional And Country Analysis
- 7.1. Global Clinical Alarm Management Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 7.2. Global Clinical Alarm Management Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
8. Asia-Pacific Clinical Alarm Management Market
- 8.1. Asia-Pacific Clinical Alarm Management Market Overview
- Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
- 8.2. Asia-Pacific Clinical Alarm Management Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 8.3. Asia-Pacific Clinical Alarm Management Market, Segmentation By End-User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
9. China Clinical Alarm Management Market
- 9.1. China Clinical Alarm Management Market Overview
- 9.2. China Clinical Alarm Management Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
- 9.3. China Clinical Alarm Management Market, Segmentation By End-User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
10. India Clinical Alarm Management Market
- 10.1. India Clinical Alarm Management Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 10.2. India Clinical Alarm Management Market, Segmentation By End-User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
11. Japan Clinical Alarm Management Market
- 11.1. Japan Clinical Alarm Management Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 11.2. Japan Clinical Alarm Management Market, Segmentation By End-User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
12. Australia Clinical Alarm Management Market
- 12.1. Australia Clinical Alarm Management Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 12.2. Australia Clinical Alarm Management Market, Segmentation By End-User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
13. Indonesia Clinical Alarm Management Market
- 13.1. Indonesia Clinical Alarm Management Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 13.2. Indonesia Clinical Alarm Management Market, Segmentation By End-User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
14. South Korea Clinical Alarm Management Market
- 14.1. South Korea Clinical Alarm Management Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 14.2. South Korea Clinical Alarm Management Market, Segmentation By End-User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
15. Western Europe Clinical Alarm Management Market
- 15.1. Western Europe Clinical Alarm Management Market Overview
- 15.2. Western Europe Clinical Alarm Management Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 15.3. Western Europe Clinical Alarm Management Market, Segmentation By End-User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
16. UK Clinical Alarm Management Market
- 16.1. UK Clinical Alarm Management Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 16.2. UK Clinical Alarm Management Market, Segmentation By End-User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
17. Germany Clinical Alarm Management Market
- 17.1. Germany Clinical Alarm Management Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 17.2. Germany Clinical Alarm Management Market, Segmentation By End-User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
18. France Clinical Alarm Management Market
- 18.4. France Clinical Alarm Management Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 18.5. France Clinical Alarm Management Market, Segmentation By End-User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
19. Eastern Europe Clinical Alarm Management Market
- 19.1. Eastern Europe Clinical Alarm Management Market Overview
- 19.2. Eastern Europe Clinical Alarm Management Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 19.3. Eastern Europe Clinical Alarm Management Market, Segmentation By End-User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
20. Russia Clinical Alarm Management Market
- 20.1. Russia Clinical Alarm Management Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 20.2. Russia Clinical Alarm Management Market, Segmentation By End-User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
21. North America Clinical Alarm Management Market
- 21.1. North America Clinical Alarm Management Market Overview
- 21.2. North America Clinical Alarm Management Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 21.3. North America Clinical Alarm Management Market, Segmentation By End-User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
22. USA Clinical Alarm Management Market
- 22.1. USA Clinical Alarm Management Market Overview
- 22.2. USA Clinical Alarm Management Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 22.3. USA Clinical Alarm Management Market, Segmentation By End-User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
23. South America Clinical Alarm Management Market
- 23.1. South America Clinical Alarm Management Market Overview
- 23.2. South America Clinical Alarm Management Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 23.3. South America Clinical Alarm Management Market, Segmentation By End-User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
24. Brazil Clinical Alarm Management Market
- 24.1. Brazil Clinical Alarm Management Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 24.2. Brazil Clinical Alarm Management Market, Segmentation By End-User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
25. Middle East Clinical Alarm Management Market
- 25.1. Middle East Clinical Alarm Management Market Overview
- 25.2. Middle East Clinical Alarm Management Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 25.3. Middle East Clinical Alarm Management Market, Segmentation By End-User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
26. Africa Clinical Alarm Management Market
- 26.1. Africa Clinical Alarm Management Market Overview
- 26.2. Africa Clinical Alarm Management Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 26.3. Africa Clinical Alarm Management Market, Segmentation By End-User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
27. Clinical Alarm Management Market Competitive Landscape And Company Profiles
- 27.1. Clinical Alarm Management Market Competitive Landscape
- 27.2. Clinical Alarm Management Market Company Profiles
- 27.2.1. Koninklijke Philips NV
- 27.2.1.1. Overview
- 27.2.1.2. Products and Services
- 27.2.1.3. Strategy
- 27.2.1.4. Financial Performance
- 27.2.2. GE Healthcare
- 27.2.2.1. Overview
- 27.2.2.2. Products and Services
- 27.2.2.3. Strategy
- 27.2.2.4. Financial Performance
- 27.2.3. Ascom Holdings
- 27.2.3.1. Overview
- 27.2.3.2. Products and Services
- 27.2.3.3. Strategy
- 27.2.3.4. Financial Performance
- 27.2.4. Spok Holdings Inc
- 27.2.4.1. Overview
- 27.2.4.2. Products and Services
- 27.2.4.3. Strategy
- 27.2.4.4. Financial Performance
- 27.2.5. Masimo
- 27.2.5.1. Overview
- 27.2.5.2. Products and Services
- 27.2.5.3. Strategy
- 27.2.5.4. Financial Performance
28. Key Mergers And Acquisitions In The Clinical Alarm Management Market
29. Clinical Alarm Management Market Future Outlook and Potential Analysis
30. Appendix
- 30.1. Abbreviations
- 30.2. Currencies
- 30.3. Historic And Forecast Inflation Rates
- 30.4. Research Inquiries
- 30.5. The Business Research Company
- 30.6. Copyright And Disclaimer