Product Code: GVR-4-68039-592-8
Clinical Alarm Management Market Growth & Trends:
The global clinical alarm management market size is expected to reach USD 6.37 billion by 2030, according to a new report by Grand View Research, Inc. The market is anticipated to grow at a lucrative CAGR of 17.0% from 2024 to 2030. The increasing prevalence of alarm fatigue is one of the primary factors augmenting the market. Furthermore, rising technological advancements coupled with the growing adoption of clinical alarm management solutions by healthcare facilities due to their benefits are also the driving factors for the market growth during the projected period.
To curb the spread of the COVID-19 pandemic, government institutions across various nations established various COVID-19 alert systems for providing policy directives and situational awareness for the general public. Various healthcare facilities also started adopting various alarm management solutions for providing timely treatment to patients. Hence, the COVID-19 pandemic positively impacted market growth in 2020 and 2021.
Alarm fatigue faced by nurses as a result of clinical alarms and false alarms is driving the need for proper alarm management solutions in healthcare facilities. This factor is providing lucrative opportunities to market players for the development of technologically advanced clinical alarm management solutions. Therefore, growing cases of alarm fatigue coupled with growing demand for advanced solutions for patient safety is also likely to boost the market growth.
Major players in the market are investing in many strategic initiatives, such as acquisitions, mergers, partnerships, and product launches, among others to maintain a competitive edge in the market. For instance, in October 2021, Ascom received a multi-million contract for providing its Telligence Nurse Call system, which will be delivered over 2 years. This contract is in partnership with Mega Datatech, a pioneering systems integrator in Macao.
Clinical Alarm Management Market Report Highlights:
- The nurse call systems segment accounted for the largest revenue share of more than 20.0% in 2023 owing to product developments driven by wireless technology and automation and reduced operating costs.
- The services component segment is expected to witness the fastest growth rate of 21.3% during the projected period owing to initiatives by public and private health institutions, increasing service offerings by key market players, and growing demand to minimize risks to patient safety.
- By end-use, the hospitals and clinics segment held the largest revenue share of over 25% in 2023, and the long-term care facilities segment is expected to witness the fastest growth rate over the projected period.
- By region, North America is likely to hold the largest revenue share of more than 43.7% in 2023 owing to the increasing need for integrated Healthcare IT systems to make certain the reliability, data integrity, and efficient maintenance of data. Asia Pacific is estimated to witness the highest CAGR over the forecast period owing to the growing adoption of technologically advanced solutions.
- The market is relatively competitive owing to the presence of major players such as Koninklijke Philips N.V., GE Healthcare, Ascom, and Medtronic among others. The various strategic initiatives implemented by companies such as collaborations, acquisitions, partnerships, and product launches are greatly contributing to the growth of the market.
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Segment Definitions
- 1.2.1. Product
- 1.2.2. Component
- 1.2.3. End Use
- 1.2.4. Regional scope
- 1.2.5. Estimates and forecasts timeline
- 1.3. Research Methodology
- 1.4. Information Procurement
- 1.4.1. Purchased database
- 1.4.2. GVR's internal database
- 1.4.3. Secondary sources
- 1.4.4. Primary research
- 1.4.5. Details of primary research
- 1.4.5.1. Data for Primary Interviews in North America
- 1.4.5.2. Data for Primary Interviews in Europe
- 1.4.5.3. Data for Primary Interviews in Asia Pacific
- 1.4.5.4. Data for Primary Interviews in Latin America
- 1.4.5.5. Data for Primary Interviews in MEA
- 1.5. Information or Data Analysis
- 1.5.1. Data analysis models
- 1.6. Market Formulation & Validation
- 1.7. Model Details
- 1.7.1. Commodity flow analysis (Model 1)
- 1.7.2. Approach 1: Commodity flow approach
- 1.7.3. Volume price analysis (Model 2)
- 1.7.4. Approach 2: Volume price analysis
- 1.8. List of Secondary Sources
- 1.9. List of Primary Sources
- 1.10. Objectives
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.2.1. Product outlook
- 2.2.2. Component outlook
- 2.2.3. End Use outlook
- 2.2.4. Regional outlook
- 2.3. Competitive Insights
Chapter 3. Clinical Alarm Management Market Variables, Trends & Scope
- 3.1. Market Lineage Outlook
- 3.1.1. Parent market outlook
- 3.1.2. Related/ancillary market outlook
- 3.2. Market Dynamics
- 3.2.1. Market driver analysis
- 3.2.1.1. Growing Cases Of Alarm Fatigue
- 3.2.1.2. Rising Prevalence Of Various Chronic Diseases
- 3.2.1.3. Technological Advancement
- 3.2.2. Market restraint analysis
- 3.2.2.1. High Implementation Cost
- 3.2.2.2. Complexities Associated With Integrating Alarm Systems
- 3.3. Clinical Alarm Management Market Analysis Tools
- 3.3.1. Industry Analysis - Porter's
- 3.3.1.1. Supplier power
- 3.3.1.2. Buyer power
- 3.3.1.3. Substitution threat
- 3.3.1.4. Threat of new entrant
- 3.3.1.5. Competitive rivalry
- 3.3.2. PESTEL Analysis
- 3.3.2.1. Political landscape
- 3.3.2.2. Technological landscape
- 3.3.2.3. Economic landscape
Chapter 4. Clinical Alarm Management Market: Product Estimates & Trend Analysis
- 4.1. Product Market Share, 2023 & 2030
- 4.2. Segment Dashboard
- 4.3. Global Clinical Alarm Management Market by Product Outlook
- 4.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
- 4.4.1. Nurse Call Systems
- 4.4.1.1. Market estimates and forecasts 2018 to 2030 (USD Million)
- 4.4.2. Physiological Monitors
- 4.4.2.1. Market estimates and forecasts 2018 to 2030 (USD Million)
- 4.4.3. Bed Alarms
- 4.4.3.1. Market estimates and forecasts 2018 to 2030 (USD Million)
- 4.4.4. EMR Integration Systems
- 4.4.4.1. Market estimates and forecasts 2018 to 2030 (USD Million)
- 4.4.5. Ventilators
- 4.4.5.1. Market estimates and forecasts 2018 to 2030 (USD Million)
- 4.4.6. Others
- 4.4.6.1. Market estimates and forecasts 2018 to 2030 (USD Million)
Chapter 5. Clinical Alarm Management Market: Component Estimates & Trend Analysis
- 5.1. Component Market Share, 2023 & 2030
- 5.2. Segment Dashboard
- 5.3. Global Clinical Alarm Management Market by Component Outlook
- 5.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
- 5.4.1. Solutions
- 5.4.1.1. Market estimates and forecasts 2018 to 2030 (USD Million)
- 5.4.2. Services
- 5.4.2.1. Market estimates and forecasts 2018 to 2030 (USD Million)
Chapter 6. Clinical Alarm Management Market: End Use Estimates & Trend Analysis
- 6.1. End Use Market Share, 2023 & 2030
- 6.2. Segment Dashboard
- 6.3. Global Clinical Alarm Management Market by End Use Outlook
- 6.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
- 6.4.1. Hospitals & Clinics
- 6.4.1.1. Market estimates and forecasts 2018 to 2030 (USD Million)
- 6.4.2. Home Care Settings
- 6.4.2.1. Market estimates and forecasts 2018 to 2030 (USD Million)
- 6.4.3. Ambulatory Care Centers
- 6.4.3.1. Market estimates and forecasts 2018 to 2030 (USD Million)
- 6.4.4. Long-Term Care Facilities
- 6.4.4.1. Market estimates and forecasts 2018 to 2030 (USD Million)
- 6.4.5. Specialty Centers
- 6.4.5.1. Market estimates and forecasts 2018 to 2030 (USD Million)
Chapter 7. Clinical Alarm Management Market: Regional Estimates & Trend Analysis
- 7.1. Regional Market Share Analysis, 2023 & 2030
- 7.2. Regional Market Dashboard
- 7.3. Global Regional Market Snapshot
- 7.4. Market Size, & Forecasts Trend Analysis, 2018 to 2030:
- 7.5. North America
- 7.5.1. U.S.
- 7.5.1.1. Key country dynamics
- 7.5.1.2. Regulatory framework
- 7.5.1.3. Competitive scenario
- 7.5.1.4. U.S. market estimates and forecasts 2018 to 2030 (USD Million)
- 7.5.2. Canada
- 7.5.2.1. Key country dynamics
- 7.5.2.2. Regulatory framework
- 7.5.2.3. Competitive scenario
- 7.5.2.4. Canada market estimates and forecasts 2018 to 2030 (USD Million)
- 7.6. Europe
- 7.6.1. UK
- 7.6.1.1. Key country dynamics
- 7.6.1.2. Regulatory framework
- 7.6.1.3. Competitive scenario
- 7.6.1.4. UK market estimates and forecasts 2018 to 2030 (USD Million)
- 7.6.2. Germany
- 7.6.2.1. Key country dynamics
- 7.6.2.2. Regulatory framework
- 7.6.2.3. Competitive scenario
- 7.6.2.4. Germany market estimates and forecasts 2018 to 2030 (USD Million)
- 7.6.3. France
- 7.6.3.1. Key country dynamics
- 7.6.3.2. Regulatory framework
- 7.6.3.3. Competitive scenario
- 7.6.3.4. France market estimates and forecasts 2018 to 2030 (USD Million)
- 7.6.4. Italy
- 7.6.4.1. Key country dynamics
- 7.6.4.2. Regulatory framework
- 7.6.4.3. Competitive scenario
- 7.6.4.4. Italy market estimates and forecasts 2018 to 2030 (USD Million)
- 7.6.5. Spain
- 7.6.5.1. Key country dynamics
- 7.6.5.2. Regulatory framework
- 7.6.5.3. Competitive scenario
- 7.6.5.4. Spain market estimates and forecasts 2018 to 2030 (USD Million)
- 7.6.6. Norway
- 7.6.6.1. Key country dynamics
- 7.6.6.2. Regulatory framework
- 7.6.6.3. Competitive scenario
- 7.6.6.4. Norway market estimates and forecasts 2018 to 2030 (USD Million)
- 7.6.7. Sweden
- 7.6.7.1. Key country dynamics
- 7.6.7.2. Regulatory framework
- 7.6.7.3. Competitive scenario
- 7.6.7.4. Sweden market estimates and forecasts 2018 to 2030 (USD Million)
- 7.6.8. Denmark
- 7.6.8.1. Key country dynamics
- 7.6.8.2. Regulatory framework
- 7.6.8.3. Competitive scenario
- 7.6.8.4. Denmark market estimates and forecasts 2018 to 2030 (USD Million)
- 7.7. Asia Pacific
- 7.7.1. Japan
- 7.7.1.1. Key country dynamics
- 7.7.1.2. Regulatory framework
- 7.7.1.3. Competitive scenario
- 7.7.1.4. Japan market estimates and forecasts 2018 to 2030 (USD Million)
- 7.7.2. China
- 7.7.2.1. Key country dynamics
- 7.7.2.2. Regulatory framework
- 7.7.2.3. Competitive scenario
- 7.7.2.4. China market estimates and forecasts 2018 to 2030 (USD Million)
- 7.7.3. India
- 7.7.3.1. Key country dynamics
- 7.7.3.2. Regulatory framework
- 7.7.3.3. Competitive scenario
- 7.7.3.4. India market estimates and forecasts 2018 to 2030 (USD Million)
- 7.7.4. Australia
- 7.7.4.1. Key country dynamics
- 7.7.4.2. Regulatory framework
- 7.7.4.3. Competitive scenario
- 7.7.4.4. Australia market estimates and forecasts 2018 to 2030 (USD Million)
- 7.7.5. South Korea
- 7.7.5.1. Key country dynamics
- 7.7.5.2. Regulatory framework
- 7.7.5.3. Competitive scenario
- 7.7.5.4. South Korea market estimates and forecasts 2018 to 2030 (USD Million)
- 7.7.6. Thailand
- 7.7.6.1. Key country dynamics
- 7.7.6.2. Regulatory framework
- 7.7.6.3. Competitive scenario
- 7.7.6.4. Thailand market estimates and forecasts 2018 to 2030 (USD Million)
- 7.8. Latin America
- 7.8.1. Brazil
- 7.8.1.1. Key country dynamics
- 7.8.1.2. Regulatory framework
- 7.8.1.3. Competitive scenario
- 7.8.1.4. Brazil market estimates and forecasts 2018 to 2030 (USD Million)
- 7.8.2. Mexico
- 7.8.2.1. Key country dynamics
- 7.8.2.2. Regulatory framework
- 7.8.2.3. Competitive scenario
- 7.8.2.4. Mexico market estimates and forecasts 2018 to 2030 (USD Million)
- 7.8.3. Argentina
- 7.8.3.1. Key country dynamics
- 7.8.3.2. Regulatory framework
- 7.8.3.3. Competitive scenario
- 7.8.3.4. Argentina market estimates and forecasts 2018 to 2030 (USD Million)
- 7.9. MEA
- 7.9.1. South Africa
- 7.9.1.1. Key country dynamics
- 7.9.1.2. Regulatory framework
- 7.9.1.3. Competitive scenario
- 7.9.1.4. South Africa market estimates and forecasts 2018 to 2030 (USD Million)
- 7.9.2. Saudi Arabia
- 7.9.2.1. Key country dynamics
- 7.9.2.2. Regulatory framework
- 7.9.2.3. Competitive scenario
- 7.9.2.4. Saudi Arabia market estimates and forecasts 2018 to 2030 (USD Million)
- 7.9.3. UAE
- 7.9.3.1. Key country dynamics
- 7.9.3.2. Regulatory framework
- 7.9.3.3. Competitive scenario
- 7.9.3.4. UAE market estimates and forecasts 2018 to 2030 (USD Million)
- 7.9.4. Kuwait
- 7.9.4.1. Key country dynamics
- 7.9.4.2. Regulatory framework
- 7.9.4.3. Competitive scenario
- 7.9.4.4. Kuwait market estimates and forecasts 2018 to 2030 (USD Million)
Chapter 8. Competitive Landscape
- 8.1. Recent Developments & Impact Analysis, By Key Market Participants
- 8.2. Company/Competition Categorization
- 8.3. Vendor Landscape
- 8.3.1. List of key distributors and channel partners
- 8.3.2. Key customers
- 8.3.3. Key company market share analysis, 2023
- 8.3.4. Koninklijke Philips N.V.
- 8.3.4.1. Company overview
- 8.3.4.2. Financial performance
- 8.3.4.3. Product benchmarking
- 8.3.4.4. Strategic initiatives
- 8.3.5. General Electric Company (GE Healthcare)
- 8.3.5.1. Company overview
- 8.3.5.2. Financial performance
- 8.3.5.3. Product benchmarking
- 8.3.5.4. Strategic initiatives
- 8.3.6. Ascom
- 8.3.6.1. Company overview
- 8.3.6.2. Financial performance
- 8.3.6.3. Product benchmarking
- 8.3.6.4. Strategic initiatives
- 8.3.7. Spok, Inc.
- 8.3.7.1. Company overview
- 8.3.7.2. Financial performance
- 8.3.7.3. Product benchmarking
- 8.3.7.4. Strategic initiatives
- 8.3.8. Masimo
- 8.3.8.1. Company overview
- 8.3.8.2. Financial performance
- 8.3.8.3. Product benchmarking
- 8.3.8.4. Strategic initiatives
- 8.3.9. Hill-Rom Services, Inc.
- 8.3.9.1. Company overview
- 8.3.9.2. Financial performance
- 8.3.9.3. Product benchmarking
- 8.3.9.4. Strategic initiatives
- 8.3.10. Vocera Communications
- 8.3.10.1. Company overview
- 8.3.10.2. Financial performance
- 8.3.10.3. Product benchmarking
- 8.3.10.4. Strategic initiatives
- 8.3.11. Capsule Technologies, Inc.
- 8.3.11.1. Company overview
- 8.3.11.2. Financial performance
- 8.3.11.3. Product benchmarking
- 8.3.11.4. Strategic initiatives
- 8.3.12. Medtronic
- 8.3.12.1. Company overview
- 8.3.12.2. Financial performance
- 8.3.12.3. Product benchmarking
- 8.3.12.4. Strategic initiatives
- 8.3.13. West-Com
- 8.3.13.1. Company overview
- 8.3.13.2. Financial performance
- 8.3.13.3. Product benchmarking
- 8.3.13.4. Strategic initiatives