Clinical Alarm Management Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Clinical Alarm Management Market is Segmented by Component (Product and Services), End-User (Hospitals, Long-term Care Centers, Others) and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The report offers the value (in USD million) for the above segments.

Clinical Alarm Management Market Snapshot

Clinical Alarm Management Market
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 12.5 %

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Market Overview

The global clinical alarm management market is expected to witness a CAGR of 12.5 % over the forecast period. 

The COVID-19 pandemic continues to transform the growth of various markets, and the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous other markets will continue to remain unscathed and show promising growth opportunities. Clinical alarm management is one such industry that might have a positive impact due to the COVID 19 pandemic owing to the extensive patient pool getting admitted in the hospital due to the infection as it is essential and mandatory to keep track of patient's health and to provide proper effective treatment to the patients at healthcare facilities.

However, the false alarms have also been a concern in the current pandemic which is creating unnecessary chaos among the healthcare representatives, which is likely to increase the focus on proper implementation of clinical alarm systems at hospitals and COVID 19 healthcare facilities.

As per an August 2020 research study titled “Curbing COVID-19-Related Alert Fatigue”, the results demonstrated that 85% to 99% of alarms per day at clinical facilities do not require clinical action and COVID-19 creates added urgency for the need to reduce such nuisance alerts to protect the health and safety risks of the respiratory therapists or nurses who investigate alarms in person while wearing personal protective equipment (PPE), which is also still in short supply.

The growth is attributed to growing prevalence of chronic diseases coupled with longer hospital stays, increasing awareness among the healthcare providers in optimizing patient safety using advanced technologies such as mHealth, alarm management systems. Also, growing investment in healthcare infrastructure by government and private health care providers is expected to fuel the market growth. If properly managed or standardized, systems may give the false alarm and sometimes patient health may be at risk. According to OECD, Health at a Glance, 2019 report, almost one third of people aged 15 years and over reported living with two or more chronic conditions, that include cancer, heart attack and stroke, chronic respiratory problems and diabetes, on average across 27 OECD countries globally. In Germany and Finland, the prevalence of chronic diseases rises to almost one in two.

However, Lack of standardization and improper management of the systems may impede Clinical Alarm Management market growth. However, the implementation of big data and artificial intelligence to optimize the workflow, reduction of false alarms and innovation in product technologies are fuelling the market growth.

Scope of the Report

Clinical alarms are used to warn the caregivers regarding the adverse patient conditions and help to take the quick action. Previously there were only a few medical systems are having the features of clinical alarm. However, nowadays the scenario has changed, most of the devices are coupled with alarm systems, and management of these systems has become vital for providing better healthcare. The Clinical Alarm Management Market is Segmented by Component (Product and Services), By End-User (Hospitals, Long-term Care Centers, Others), and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The report offers the value (in USD million) for the above segments.

By Component
Product
EMR Integration Systems
Nurse Calling Systems
Physiological Monitors
Others
Services
By End-User
Hospitals
Long-term Care Centers
Others
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East and Africa
GCC
South Africa
Rest of Middle East and Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

Long term care Segment Expected to have Lucrative Growth

Long term care facilities are the healthcare centers that provide a variety of services including both medical and personal care, to people who are unable to live independently and for geriatric patients. People frequently need long-term care when they have a severe, continuing health ailment or disability. The necessity for long-term care can arise suddenly, such as after a heart attack or stroke.

Clinical alarm management services and solutions play an important role at long-term care centers as the patients at these centers are either critically ill or aged patients who require continuous monitoring and management of their health and wellness. As per 2019 research study titled “Alarming and/or Alerting Device Effectiveness in Reducing Falls in Long-Term Care (LTC) Facilities? A Systematic Review”, the results of the study demonstrated that as falls within long-term care (LTC) facilities are a growing concern and alarming devices can be a key intervention in the safety of those residents who are prone to falls.

Growing prevalence of chronic diseases coupled with the increasing geriatric population globally are the major factors driving the respective segment in the market studied. According to the World Ageing Population report, in 2019, around 703 million people aged 65 years and above were living all across the world. Over the next three decades, this number of older populations is expected to increase more than double, over 1.5 billion by the year 2050.

Older population is often susceptible to hearing loss, cataracts and refractive errors, back and neck pain and osteoarthritis, chronic obstructive pulmonary disease, diabetes, depression, and dementia. This indicates the rising demand for devices required for diagnosis, treatment, monitoring and management of the diseases. As per the data of Alzheimer’s Association, in 2020, about 5.8 million people aged 65 years and above are suffering from Alzheimer’s dementia in the United States and this number is expected to reach around 13.8 million in the year 2050. Thus, owing to the aforementioned factors the usage of clinical alarm management solutions and services are expected to grow significantly during the forecast period.

CLINICAL

North America Expected to have Significant Market Share

North America region is anticipated to have a significant market share owing to well-established healthcare infrastructure, new product launches, and the presence of key market players. Hospitals in the region are consolidating at a rapid pace and there is rising competition is due to this healthcare providers are investing huge amounts in advancing the infrastructure such as alarm management systems to improve patient care. Moreover, the presence of a large pool of population and increasing healthcare spending in the region is projected to fuel the regional market growth.

According to the Center for Disease Control and Prevention 2021 updated statistics, 6 in 10 adults in United States have at least one chronic disease and 4 in 10 adults in United States have two or more chronic diseases. As per the same report heart disease, cancer, chronic lung disease, stroke, Alzheimers Disease, Diabetes and Chronic Kidney Disease and posing around USD 3.8 trillions annual healthcare costs on the country’s healthcare system.

The companies are actively involving in the new product launches developments and collaborations to expand their footprint in United States. For instance, in February 2019, Nihon Kohden launched its NK-HiQ Enterprise Gateway, the next-generation platform that integrates data from Nihon Kohden patient monitoring devices and consolidates multiple applications into a single powerful platform. NK-HiQ Enterprise Gateway consists of 7 extensions AWARE alarm management and reporting software application, NK-HiQ CNS remote client, NK-HiQ ECG server extension, NK-HiQ HL7 server extension, NK-HiQ Pager server extension, NK-HiQ Wireless server extension, ViTrac remote viewing.

In April 2018, Spok, Inc., a wholly owned subsidiary of Spok Holdings, Inc and Bernoulli Health,. entered into a partnership to elevate clinical alarm management by capturing and evaluating real-time patient data and alarms from multiple clinical systems and delivering actionable alerts to the right caregiver for swift response.

The Asia Pacific region is anticipated to have lucrative market growth owing to developing healthcare infrastructure and adaptation of advanced technologies in caregiving. Furthermore, increasing disposable income and increased access to the organized healthcare facilities in developing countries such as India and China is projected to boost the regional market over the forecast period.

Clinical Alarm Management

Competitive Landscape

Global clinical alarm management market is moderately fragmented and competitive. Market players are focusing on new product launches, product innovations and geographical expansion. Also, companies are focused on partnerships and integrating technologies to provide advanced care. For instance, in August 2018, Ascom and Dragner have integrated Ascom Unite Connect for clinical systems software with Dräger Infinity patient monitoring systems to improve patient care. The companies operating in the market include Baxter International Inc., Koninklijke Philips N.V., Ascom Holding AG, Capsule Technologies, Inc. and Vocera Communications among others.

Recent Developments

May 2021: Vocera Communications, Inc. entered into a distribution agreement with Wavelink, procuring Vocera solutions for large and small healthcare organizations across Australia

July 2020: Hillrom entered into a new commercial partnership with Aiva, enabling hands-free communication for both patients and staff utilizing an in-room voice assistant and Hillrom's Voalte Mobile solution. Hillrom's Voalte system is the only mobile clinical communication platform with a comprehensive solution that includes hands-free caregiver-to-caregiver communication unique to Hillrom as well as nurse call, medical device integration, alert and alarm management and waveform digitization.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Growing Prevalence of Chronic Diseases and Long Hospital Stays

      2. 4.2.2 Rising Healthcare Expenditure and Technological Advancements in Clinical Alarm Management

    3. 4.3 Market Restraints

      1. 4.3.1 High Investment for Clinical Alarm Systems

      2. 4.3.2 Lack of Product Standardization and False Alarms

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Component

      1. 5.1.1 Product

        1. 5.1.1.1 EMR Integration Systems

        2. 5.1.1.2 Nurse Calling Systems

        3. 5.1.1.3 Physiological Monitors

        4. 5.1.1.4 Others

      2. 5.1.2 Services

    2. 5.2 By End-User

      1. 5.2.1 Hospitals

      2. 5.2.2 Long-term Care Centers

      3. 5.2.3 Others

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Italy

        5. 5.3.2.5 Spain

        6. 5.3.2.6 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 South Korea

        6. 5.3.3.6 Rest of Asia-Pacific

      4. 5.3.4 Middle East and Africa

        1. 5.3.4.1 GCC

        2. 5.3.4.2 South Africa

        3. 5.3.4.3 Rest of Middle East and Africa

      5. 5.3.5 South America

        1. 5.3.5.1 Brazil

        2. 5.3.5.2 Argentina

        3. 5.3.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Baxter International Inc.

      2. 6.1.2 Koninklijke Philips N.V.

      3. 6.1.3 Ascom Holding AG

      4. 6.1.4 Capsule Technologies, Inc.

      5. 6.1.5 Vocera Communications

      6. 6.1.6 GE Healthcare

      7. 6.1.7 Masimo

      8. 6.1.8 GlobeStar Systems Inc.

      9. 6.1.9 Spok Inc.

      10. 6.1.10 HCA Healthcare

      11. 6.1.11 Hillrom

      12. 6.1.12 Amplion Clinical Communications, Inc.

      13. 6.1.13 Connexall USA, Inc.

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Competitive Landscape covers- Business Overview, Financials, Products and Strategies, and Recent Developments

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Frequently Asked Questions

The Clinical Alarm Management Market market is studied from 2018 - 2026.

The Clinical Alarm Management Market is growing at a CAGR of 12.5% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Baxter International Inc., Koninklijke Philips N.V., Ascom Holding AG, Capsule Technologies, Inc., Vocera Communications are the major companies operating in Clinical Alarm Management Market.

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