Valued at USD 1.06 billion in 2021, the global clinical alarm management market is projected to reach USD 1.25 billion in 2022 and USD 5.4 billion by 2030, growing at a CAGR of 20.03% during the forecast period 2022–2030. Key players include Koninklijke Philips, GE Healthcare, Medtronic, Ascom, Spok, Masimo, West-Com Nurse Call Systems, Hill-Rom Services, Vocera Communications, and Drägerwerk. Clinical alarm management refers to reducing unnecessary alarms in a healthcare setting.

Alarm Fatigue Reshapes Hospital Priorities

The emergence of alarm fatigue as a phenomenon and the rising need for cost containment across healthcare settings are expected to increase adoption of novel systems. Hospital staff find it difficult to determine the urgency of medical attention a patient needs, and false alarms can cause mishaps in hospital management. Hospitals and clinics are expected to hold a significant revenue share because of the need to reduce inconsequential alarms. A Boston Medical Center study reported an 89% drop in audible alarms when cardiac monitors with crisis thresholds replaced standard warning cardiac monitors. Hospitals and clinics face alarm fatigue from rising patient footfalls and growing demand for monitoring critical patients, and increasing acceptance of triaging systems helps cross-communicate critical alarms to clinicians and nurses.

Product Segmentation in the Clinical Alarm Management Market

The market is segmented by product into nurse call system, bed alarms, physiological monitors and ventilators, EMR integration systems, and others. Players such as West-Com Nurse Call Systems and Hill-Rom Services operate in this market alongside Koninklijke Philips, GE Healthcare, and Masimo. The report also segments by component into solutions and services, and by end use into hospitals and clinics and ambulatory and home care centres. Traditional alarm systems are less accurate in tracking patient vitals, which can prolong hospital stays and increases the need for modern integrated systems.

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EMR Integration Systems: The Fastest-Growing Segment

EMR integration systems are expected to witness the fastest growth, driven by a surge in adoption of EHR and EMR solutions by hospitals and healthcare facilities. Key reasons include lower healthcare expenditure, improved quality of patient care, and increased revenue, along with streamlined workflows. In March 2022, Meditech announced a partnership with Google Health to develop an integrated Expanse EHR platform. Koninklijke Philips received 510(k) market approval for the Philips Capsule Surveillance solution, a patient data aggregation tool that enables interoperability with device alarm-aided electronic Intensive Care Units. The services component is expected to dominate over the forecast period, as services reduce workload and ease data sharing in modern hospital environments.

Regional Outlook and Strategic Developments

North America is estimated to grow through the study period owing to the largest patient population globally. The U.S. has over 325 million people, with healthcare accounting for 18% of its GDP. Europe is expected to grow on a high prevalence of chronic disease and an ageing population. In July 2022, Spok announced an agreement with inTechnology to distribute and implement its healthcare communication products in Asia Pacific. In March 2022, Sheffield Children's Hospital and Tutum Medical collaborated on a Bedside Equipment Alarm Monitoring System, estimated to reduce alarm frequency by 95%. Chronic disease prevalence drives patient admissions, and the ageing population is prone to diseases requiring constant monitoring.

Challenges and Competitive Landscape

The report's Clinical Alarm Management market dynamics list lack of interoperability as a restraint, and its Porter's Five Forces analysis rates rivalry among existing firms as high and the threat of new entrants as low. The competitive landscape is also driven by integrative technologies such as merging historical data with artificial intelligence to deliver assistive alerts to clinicians. In North America, the push to centralize alarm management has encouraged key healthcare companies to integrate cloud-based solutions that offer control over access management, alarms, and clinical surveillance.

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