Global Clinical Alarm Management Market Overview

Global Clinical Alarm Management Market Size Was Valued at USD 24.89 Billion In 2023 And Is Projected to Reach USD 29.21 Billion By 2032, Growing at A CAGR of 1.79% From 2024 To 2032.

Alarm systems that are integrated into or attached to medical equipment and monitoring systems are triggered by physiological changes in the patient, changes in monitored data, or system issues. Over a short period, technological advancements in hospitals have accelerated significantly. These advancements have brought with them complex and complicated monitoring systems, many of which include built-in audio alerts. These clinical alarms are designed to notify the clinician when a patient's condition deviates from a present "normal" state. They are a critical tool for increasing patient safety by providing information that necessitates a response or awareness on the part of the operator. The market's expansion is fueled by the rising need for clinical decision support tools, central monitoring systems, mobility solutions, clinical alarm reporting software, and alarm auditing software among the world's elderly population. Global demand is expected to be driven by factors such as the rapid implementation of big data analytics, expanding need for clinical alarm management systems, and the increasing acceptance of clinical decision support technologies. During the anticipated period, the clinical alarm management system is expected to increase at an exponential rate.

Market Dynamics and Factors of Clinical Alarm Management Market

Drivers:

Need for Effective Patient Monitoring Systems Propelling the Clinical Alarm Management Market

Increased awareness among healthcare practitioners in enhancing patient safety utilizing sophisticated technologies such as mHealth and alert management systems is due to the rise in the incidence of chronic illnesses paired with longer hospital stays. In addition, the industry is predicted to rise as government and private healthcare providers increase their investments in healthcare infrastructure Systems that are not adequately controlled or standardized may cause a false alert, putting the patient's health in danger. According to the OECD's Health at a Glance 2019 report, about one-third of persons aged 15 and up in 27 OECD countries reported living with two or more chronic diseases, such as cancer, heart attack, stroke, chronic respiratory issues, and diabetes. Chronic illnesses affect about one in every two people in Germany and Finland. The primary reasons driving the relevant category in the market researched are the rising incidence of chronic illnesses and the growing geriatric population globally. According to the Globe Ageing Population study, there were roughly 703 million persons aged 65 and more in the world in 2019. Over the next three decades, the number of people aged 65 and above is predicted to more than treble, reaching 1.5 billion by 2050. Hearing loss, cataracts, refractive errors, back and neck discomfort and osteoarthritis, chronic obstructive pulmonary disease, diabetes, depression, and dementia are all common among the elderly. This reflects an increase in the need for equipment used in illness diagnosis, treatment, monitoring, and management.

Restraints:

Alarm Fatigue Remains A Major Restraining Factor In The Clinical Alarm Management Market

Alarm fatigue is a major restraining factor in the clinical alarm management market. Constant alarm interrupts the workday of a nurse which can cause a lack of productivity and focus on one patient. This huge industry-wide issue is generally caused by the misuse of alarms in clinical settings, rather than a lack of training. Every change in a patient's state triggers a new set of alarm functions, some of which may or may not apply to a nurse's duties. The sheer number of alerts interrupting nurses' work is overwhelming. Alarm fatigue remains despite a strong foundation in patient management and regular refresher training.

Opportunities:

Smart Alert Frequencies With AI Possess Great Opportunities

The market's opportunity might be a crucial move from just decreasing the alert frequency to more meaningful outcome measurements. Outcomes such as reaction time to genuine patient alarms or simulated alarms injected into real patient care environments, in addition to alarm rates, maybe stronger indications of whether the overall alarm response system is operating well. The use of AI in alarm identification and management can be revolutionary to optimize the response time. To measure patient outcomes, larger, multisite studies are required. A higher-quality evidence-base for the expanding number of potential alarm management therapies will help future alarm management QI projects. The majority of alarm management interventions have largely focused on filtering out non-actionable alarms. There has been far less attention on ensuring that the nurse who receives the notice is accessible to respond to the alert, which is a great potential for future development.

Challenge

False Alarms, Slow Response Time, And System Malfunction Are The Primary Challenges In The Market

False alarms have also been a source of concern, causing an unneeded commotion among healthcare workers. This is expected to raise the focus on correct clinical alarm system deployment at hospitals and COVID 19 healthcare facilities. The vast majority of alerts in hospitals are non-actionable, with about 5-13 percent being actionable. Caregiver desensitization and alert fatigue are exacerbated by these non-actionable alarms. It's still difficult to distinguish between non-actionable and actionable alarms. Also, Shortage of hospital staff, Worn-out nurses, on the other hand, are more prone to alarm fatigue which can delay the response time for the alarm which is a challenging factor for the Clinical Alarm Management Market

Segmentation Analysis Of Clinical Alarm Management Market :

By Product, the Nurse call systems segment is anticipated to dominate the Clinical Alarm Management Market. Product advances are driven by wireless technology and automation, as well as the desire to optimize clinical workflow and minimize operational costs for the healthcare facility while making the most use of available resources, are all reasons that have contributed to this huge share. The technical advancements made possible by fiber optic technology have helped the nurse call system placed in hospital rooms in particular. Nurse call systems, which allow patients to request help, are an important aspect of hospital care. When a patient utilizes the nurse call system, a message is sent to the physicians and nurses right away, alerting them to which patient in which room requires help. Most significantly, the call system aids in the prompt delivery of treatment to patients via the fast fiber-optic network. Increasing investment in wireless technologies and IP-based nurse call systems is also expected to drive market expansion throughout the forecast period.

By Offering, Solution segment is expected to dominate the Clinical Alarm Management Market. This is due to the increasing use of linked care technology in healthcare, as well as initiatives by major corporations and the desire to prevent alert fatigue. Over the projected period, the market is expected to be driven by the need to decrease adverse patient events, false/ nuisance alarms, and comply with regulatory obligations. Due to initiatives by public and private health institutions, increased service offerings by major market participants, and a growing desire to minimize threats to patient safety, the services segment is expected to grow at the quickest rate throughout the projection period, fueling the segment expansion in the future years.

By End User, Clinics and hospital segments dominate the Clinical Alarm Management Market. Because of an increase in patient flow, an increase in emergencies, and the use of advanced clinical alarm management technologies. Clinical alarms were created with the best of intentions in mind to notify doctors of patient crises or changes in condition. Alarms are built into most bedside medical devices, including monitors, infusion pumps, and ventilators, however, due to a lack of compatibility among these devices, several noises per patient room are common. The number of clinical alerts per patient each day, depending on the hospital unit, might result in thousands of alarm signals on each unit and tens of thousands throughout the hospital. Because of the rising number of old-age institutions and increased awareness about the relevance of clinical alarm management systems in these facilities, the long-term care facilities category is expected to expand at the quickest pace over the projection period which is expected to boost overall Clinical Alarm Management Market.

Regional Analysis Of Clinical Alarm Management Market 

North America is expected to be dominating the Clinical Alarm Management Market. The United States has created cutting-edge healthcare infrastructure. Key businesses like Medtronic, GE Healthcare, Connexall, Vocera, and others have set up shop in the United States. As a result, the presence of such important vendors in the country generates demand for the clinical alarm management market. In addition, the presence of significant market players in the area, such as GE Healthcare, Ascom, and Koninklijke Philips N.V., is projected to boost the market growth. Also, the US government have implemented various regulation regarding standards regarding the hardware and software used in the clinical alarm management system. Alarms are now handled in a variety of medical device standards in one form or another. The sole targeted alarm standard, IEC 60601-1-8, which sets general standards for alarm systems, is intended to be applied to all medical equipment having alarms. This standard, among other things, specifies visual and audio alarm signal features that may be used to prioritize the degree of urgency for all alerting devices. As a result of the increased importance of delivering high-quality healthcare. Increasing incidences of alarm fatigue, as well as a favorable regulatory environment in the United States and Canada, are driving market expansion in this area.

Europe is a highly lucrative region for the Clinical Alarm Management Market. European countries have high-end healthcare infrastructure and response toward public health and safety. Europe's healthcare sector is driven by emerging technology integration in the hospitals and clinics which makes them sophisticated healthcare service providers in the market. The United Kingdom is expected to be one of the most appealing markets. In England, for example, eight new hospitals with highly advanced equipment and clinical alarm and response management system opened in 2021. By 2030, the UK government plans to build 40 similar hospitals across the country. It contributes to the improvement and transformation of NHS services and the NHS for local communities. As a result, the need for clinical alarm management is fueled by strict government regulations and support for the country's healthcare sector's development.

Covid-19 Impact Analysis On Clinical Alarm Management Market

The COVID-19 pandemic is still transforming the growth of numerous economies, and the outbreak's immediate impact is variable. While certain industries may experience a demand reduction, many other markets will remain unaffected and exhibit great development prospects. Clinical alarm management is one industry that could benefit from the COVID 19 pandemic, owing to a large number of patients who will be admitted to hospitals as a result of the infection. It is critical and mandatory to keep track of patient's health and to provide proper and effective treatment to patients at healthcare facilities. According to the findings of a research study published in August 2020 titled "Curbing COVID-19-Related Alert Fatigue," 85 percent to 99 percent of alarms received each day at clinical facilities do not require clinical action, and COVID-19 adds to the urgency of reducing such nuisance alerts to protect the health and safety of respiratory therapists or nurses who investigate alarms in person while wearing personal protective equipment (PPE), which is also still in use. Clinical Alarm Management systems are predicted to make a difference in the health care industry, which is projected to drive the market.

Top Key Players Analyzed In Clinical Alarm Management Market

• Ascom Holdings
• Baxter International Inc.
• Bernoulli Enterprise Inc.
• Capsule Technologie (Subsidiary of Qualcomm Life Inc.)
• Connexall
• Dragerwerk AG
• Extension Healthcare
• GE Healthcare
• Koninklijke Philips N.V.
• Masimo
• Medtronic
• Mindray Medical International Limited
• Mobile Heartbeat (Subsidiary of Hospital Corporation of America)
• Spok Inc. (Subsidiary of Spok Holdings Inc.)
• Vocera Communications and other major players.

Key Industry Developments in Clinical Alarm Management Market

• In June 2023, Ascom and Niels-Stensen-Kliniken Group signed a contract to support the installation of the Ascom smart alarming system solution and IP-DECT infrastructure. The project is worth more than 1 million Swiss francs, including services.
• In April 2023, Koninklijke Philips N.V. and Northwell Health entered a seven-year agreement to help the health system standardize patient monitoring, enhance patient care, and improve patient outcomes while driving interoperability and data innovation.