Clinical Alarm Management Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2024-2030)

Clinical Alarm Management Market Trends & Drivers

• The patient data included in electronic health records is mostly intricate, private, and unstructured. To use this data for improving patient care, the barriers in integrating it into the healthcare delivery process must be overcome. Despite the fact that EHRs have been in use for more than 10 years, the market has accelerated in the recent past because of the government initiatives targeted at enhancing patient protection practices.
• In order to increase functionality and the delivery of reference content and alerts to patients at the point of treatment, the next stage of the EHR development process is expected to make use of context-specific data about the clinical care setting and patients. This information can affect the warnings issued to physicians in a way that makes them less voluminous and more pertinent, especially when EHRs can harness more patient context from the relevant medical records.
• Hospitals will put more emphasis on enhancing their capabilities by integrating multiple healthcare systems with EHRs. In turn, this is forecast to offer companies providing medical alarm management solutions possible growth prospects.
• There has been a significant spike in the alert fatigue incidence. This is attributed to the fact that hospitals have become highly advanced, and most of the systems in healthcare institutions are equipped with alarms, which nurses and other healthcare professionals have become desensitized to because of the excessive exposure to them. Therefore, the legitimate alarms, which are designed to notify professionals of the actual concerns of patients, are occasionally disregarded, since there are so many more additional alarms, which leads to delayed or even missed responses by the professionals.
• This has become a major issue as it poses a significant hazard to patients’ lives. Such incidents are frequently underreported, and there is still little research on solutions to address the issue, despite the fact that alert fatigue is a well-known problem. Certain studies have revealed the death of patients due to this issue.

Clinical Alarm Management Market Analysis

Nurse Call Systems Held Largest Share

The nurse call systems category held the largest share, of over 26%, in 2022 globally. This is because product advances fueled by automation and wireless technology, as well as the desire to enhance clinical workflow and lower operational expenses for the medical institution, while maximizing the use of the existing resources, are responsible for this prominent share.

Major industry participants are also concentrating on catering to the requirement for improved patient response times, as well as minimized nurse fatigue, in light of the increase in the count of home healthcare and nursing facilities. By integrating their products with various diagnostic technologies and solutions, vendors also try to set their products apart from the competition.

An increasing number of medical facilities are implementing real-time location systems (RTLS) integrated with the wireless technology. To improve productivity, RTLS enables healthcare institutions to monitor the movement of staff and equipment. One such integrated platform is Televic's AQURA Care Communication, which includes modules for nurse call, personal localization, patient and staff safety, alert delivery, personal mobility, and mediator control. During the projection period, it is predicted that the increasing financing for wireless technologies and IP-based nurse call systems would accelerate the industry growth.

Additionally, the EMR integration systems category is predicted to witness the highest CAGR, of around 10.6%, during the forecast period. This is due to the growing pace of digitalization in healthcare, spiking use of EHR and EMR solutions from clinics to hospitals, and growing interoperability across digital healthcare solutions. Moreover, the rising patient load, rigorous regulatory mandates for patient care, encouragement to implement hospital EMR systems, to improve the quality and comprehensiveness of patient records; as well as the various advantages of EMRs, in terms of data security, contribute to the sector’s growth.

The bed alarm category is also predicted to grow significantly during this decade. The easy and quick access to patient health information provided by the bed alarm, for quick treatment, enhances the category’s growth. The older population's widespread use of these alarms to determine their health condition greatly surges the sector’s revenue.

Solutions Category Dominates Market in Component Segment

On the basis of component, the solutions category held the larger share in 2022, because connected care technologies are increasingly being used in healthcare. Furthermore, the top firms are taking initiatives such as the launch of alert fatigue solutions that are tailored to meet the institution’s needs, which would further propel the category’s growth. The strong need to lessen alert fatigue and the number of adverse patient events and false or bothersome alerts and ensure compliance with the regulatory requirements will continue to propel the adoption of advanced clinical alarm management software.

Further, due to the initiatives by both public and private medical institutions, expanding service offerings of top players, and increasing demand to reduce the risks to patient safety, the services category is expected to witness the higher growth rate in the coming years. Other factors that are predicted to drive the demand for the associated services include technological enhancements and the growing number of service providers.

Over the years, there has been a tremendous increase in the provision of consulting services for alert management by major firms. For instance, Philips’ alarm and noise management consulting services are geared toward cutting down on unwanted noise and non-actionable alarms, while unifying alarm management procedures, thereby enhancing patient care.

Geographical Analysis

North America held the largest market share, of over 46%, in 2022. The biggest reasons for this sizable share are its well-established healthcare system, development of new products, growing instances of alert fatigue, favorable healthcare regulatory environment in both the U.S. and Canada, and the presence of major competitors in the industry.

Furthermore, hospital consolidation in the region is happening quickly, which has increased competitiveness. Consequently, in order to enhance patient care, healthcare organizations are making significant investments in infrastructure upgrades, such as in alert management systems.

Additionally, it is predicted that the expansion of the regional clinical alarm management market will be fueled by the presence of a sizable population pool, increasing healthcare spending, and rising focus on offering top-notch healthcare services. This is due to the fact that one or more chronic diseases, such as diabetes, cancer, heart disease, and stroke, affect six out of ten Americans. In addition, the primary causes of death and disability in the U.S. are chronic diseases, which, in turn, fuels the demand for such alarms in the healthcare field.

Report Breakdown

Based on Product

• Nurse call systems
• Physiological monitors
• EMR integration systems
• Bed Alarms
• Ventilators

Based on Component

• Solutions
• Services

Based on End User

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

Geographical Analysis

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
• Asia-Pacific
  • Japan
  • China
  • India
  • South Korea
  • Australia
• Latin America
  • Brazil
  • Mexico
• Middle East and Africa
  • Saudi Arabia
  • South Africa
  • U.A.E.

Top Clinical Alarm Management Solution Providers