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Clinical alarm management systems are prepared to alert healthcare professionals to potential patient problems. These alarms must be accurate, intuitive, and provide alerts that are easily interpreted by clinicians and followed appropriately. The growing demand for healthcare and the increasing patient population have led to an increasing frequency of patient alarms, irrespective of their priority. This has resulted in alarm fatigue (sensory overload when doctors are exposed to too many alarms). Clinical alerts have the potential to reduce costs and facilitate better patient management. An increased prevalence of chronic diseases and a rise in geriatric population growth are expected to be major contributors to market growth over the projected time period. Besides, the increase in healthcare spending among the developing nations is also anticipated to support the growth of the market and this factor is also anticipated to provide ample new growth opportunities for the market over the upcoming years.
The growing cases of alarm fatigue and the need for cost containment are the factors that should drive the growth of the market. Furthermore, long hospital stays, coupled with the increasing prevalence of various chronic diseases and technological advances in the area of clinical alarm management, are factors that are expected to drive market growth. The number of clinical alarms resulting in alarm fatigue has increased in recent years, mainly due to the growing number of alarm-based devices, the growing number of patients connected to different devices, and the lack of standardization between devices. Alarm fatigue, due to the high frequency of alarms, can desensitize healthcare professionals, which in turn can cause alarms to be ignored or disabled. This can result in potentially critical alerts being ignored or avoided, with serious consequences and future strains on hospital resources. In addition to causing frustration and stress for healthcare professionals, inaccurate and annoying alarms can prevent patients from rest and also affect healing. The ECRI Institute has identified alarm risks as the second highest risk to patient safety in its Top 10 Technological Health Risks for 2017. According to the ECRI Institute, 216 reports of alarm-related deaths have been reported by the FDA between 2005 and 2010. This is expected to stimulate the demand for effective clinical alarm management services.
Electronic medical records typically contain complex, confidential and often unstructured patient data. Integrating this information into the healthcare delivery process is a challenge that must be overcome in order to seize opportunities to improve patient care. Although electronic health records have been in use for many years, the market has grown due to government initiatives in various countries aimed at improving patient safety. The next phase of the development process in electronic health records would likely use clinics, area-of-care, and patient contextual information to refine functionality and improve the relevance of referral content and alerts provided to the patient at the point-of-care. In particular, if electronic health records can leverage greater patient context from medical records stored in the patient profile, this information can impact clinician alerts in a way that makes them less bulky and more relevant. Therefore, hospitals will increasingly focus on expanding their capabilities by integrating various hospital systems with electronic health records. This, in turn, is expected to provide potential growth opportunities for market players in the coming years.
Lack of interoperability is a major barrier to the effective implementation of clinical alarm management solutions and services. Interoperability between electronic systems is a key requirement for data integration and analytics efforts. Without proper data sharing and analysis, clinical alarm management cannot be effective. According to the National Electronic Health Records Survey conducted from 2015 to 2017, only about 10% of physicians were able to send, receive, and integrate health records with their respective EHR systems. While many hospitals can use their current EHRs for certain information exchange activities that promote interoperability (e.g., find, send, or receive information), only 23% of hospitals are able to use all four information exchange activities (search, send, receive and use). This is expected to restrain the growth of the market over the estimated time period.
Currently, many traditional healthcare providers are hesitant to adopt clinical alarm management solutions, primarily due to a lack of IT skills. Some consider the noise and chaos caused by alarms to be normal, therefore, the use of these solutions is a time-consuming task with little or no clinical benefit. The adoption rate of these solutions can potentially be improved by increasing awareness and providing feedback or incentives to nurses and caregivers to recommend the use of clinical alert management. Also, the lack of skilled work force in low-income nations is expected to be a challenge for the market’s growth over the forecast period.
The report provides an in-depth analysis of the global Clinical Alarm Management market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. With increasing demand for clinical alarm management services in various applications has led the increasing demand for market and is expected to witness the growth at a specific CAGR from 2021-2028.
The global Clinical Alarm Management market comprises of different market segments like product, component, end users and geography.
By product, the Clinical Alarm Management includes the key segments of
The nurse call systems segment is expected to dominate the market over the forecast period. Factors attributed to the growth of this segment include product developments focused on wireless technology and automation, as well as the need to improve clinical workflow and reduce operational costs for healthcare facilities while getting the most out of available resources. Additionally, growing funding for wireless technologies and IP-based nurse call systems is expected to drive market growth over the projected period.
The EMR Integration Systems segment is expected to register the highest CAGR due to the increasing digitization of healthcare, an increase in the adoption of EHR/EMR solutions from clinics to hospitals, and increasing interoperability between digital health solutions.
The Clinical Alarm Management market has essential components like
The solutions segment is expected to witness the highest growth during the forecast period. This is due to the growing adoption of connected assistance technologies in healthcare, the initiatives of large companies and the need to reduce alarm fatigue. The reduce adverse events for patients, need to reduce false alarms and compliance with regulatory mandates is expected to drive the market during the forecast period.
The services segment is estimated to experience the fastest growth rate over the forecast period as a result of initiatives by public and private health institutions, the increase in the supply of services by major market players and the growing demand to minimize patient safety risks, which is anticipated to fuel the growth of this segment in the coming years. Technological advances and the growing number of clinical alarm management service providers are other factors that is expected to support market growth.
The Clinical Alarm Management market has major end users like
The hospitals and clinics segment is expected to lead the Clinical Alarm Management market. The significant market share in this category can be attributed to the increased use of clinical alarm management solutions in hospitals and the proliferation of government-led initiatives to improve the quality of healthcare.
The long-term care facilities segment is expected to experience the fastest growth over the forecast period due to the growing number of nursing homes and growing awareness of the importance of clinical alarm management solutions in these structures. Alarm safety and alarm fatigue have emerged as critical issues to ensure patient safety. Solutions require multidisciplinary system-level analysis to identify the root cause.
The global Clinical Alarm Management market is studied for the following regions
North America is expected to dominate the global Clinical Alarm Management market. This is due to the increase in alarm fatigue cases and government efforts to reduce the effects of alarm fatigue and the growing need for integrated healthcare IT systems to ensure reliable, efficient data maintenance, data integrity and punctual delivery and availability of patient data to authorized healthcare professionals.
The Asia-Pacific region is expected to witness the highest CAGR over the forecast period. This can be attributed to the increasing adoption of technologically advanced solutions to provide better healthcare facilities. Additionally, increased investment in healthcare in countries including Australia, China, India and Japan is expected to stimulate market growth.
The exclusive COVID-19 impact analysis report by Axiom MRC provides a 360 degree analysis of micro and macro-economic factors on the global Clinical Alarm Management market. In addition, complete analysis of changes on the global Clinical Alarm Management market expenditure, economic and international policies on supply and demand side. The report also studies the impact of the pandemic on global economies, international trade, business investments, GDP and marketing strategies of key players present in the market.
The COVID-19 pandemic continues to transform the growth of various markets, and the immediate impact of the outbreak has been varied. While some sectors will see a decline in demand, many other markets will remain unscathed and show promising growth opportunities. Management of clinical alarms is one such area that could have a positive impact following the COVID-19 pandemic, as the large base of patients admitted to hospital due to infection makes it essential and mandatory to ensure patient health in the monitored and provide adequate and effective treatment to patients in health care institutions. However, false alarms have also been a concern in the current pandemic, and is causing unnecessary chaos among healthcare representatives, which is likely to increase the focus on the proper implementation of clinical alert systems in COVID-19 hospitals and healthcare facilities.
The competitive landscape analysis of Clinical Alarm Management market is majorly focused on expanding the global growth of clinical alarm management sector with new product innovation, business expansion, increasing presence of range of manufacturer operating in clinical alarm management services has led the growing demand for the market. Besides, the market offers a range of products in different applications to fulfil the required demand of consumers, which is further contributing to healthy growth in the market.
The key players studied in market are
July 2022: Spok had partnered with ?inTechnology Distribution and through this partnership, inTechnology had relaunched the Spok Partner Program in the APAC region. Through the partner program, inTechnology Distribution and Spok would offer various tools such as business planning, technical support, training, marketing, and co-development to support partners in scaling their respective businesses.
April 2021: Vocera Communications acquired PatientSafe Solutions. PatientSafe Solutions consolidates alerts, secure messages, voice calls, and nurse call notifications with data from the electronic medical record to enable care teams to quickly manage mission-critical workflows in one mobile smartphone app.
By product, the Clinical Alarm Management includes the key segments of nurse call systems, physiological monitors, bed alarms, EMR integration systems, ventilators and others. The nurse call systems High segment is expected to dominate the market over the forecast period. By component, the Clinical Alarm Management market is segmented into Solutions and Services. Solutions segment is expected to maintain its dominance over the estimated time period. The Clinical Alarm Management market has major end users like hospitals and clinics, specialty centers, ambulatory surgical centers, home care settings and long-term care facilities. The hospitals and clinics segment is expected to lead the Clinical Alarm Management market.
The global Clinical Alarm Management market is studied for the following region North America, Europe, Asia-Pacific and Rest of the world (RoW). North America is expected to dominate the global Clinical Alarm Management market.
| Market Sizing for
Year: | 2019-2028 |
| Base Year: | 2021 |
| Forecast Period: | 2022-2028 |
| Value: | USD Million |
| Market Segment
studied: | Product Component End
Users |
| Market Players and
its Competitors: | General
Electric Company Koninklijke
Philips N.V Extension
Healthcare Medtronic Baxter
International Vocera
Communications Capsule
Technologies, Inc. Drägerwerk
AG & Co. KGaA Mindray
Medical International Masimo West-Com
Nurse Call Systems Spok
Holding Intercall
Systems Inc. Dragerwerk CSinc Johnson
Controls Fujian
Huanyutong Technology Co., Ltd. |
FREQUENTLY ASKED QUESTIONS
What would be forecast period in the market report?
2022-2028 is the forecast period in the market report
What are the drivers for Clinical Alarm Management market?
The key driving factors of the market are increasing prevalence of alarm fatigue, rising prevalence of various chronic diseases and technological advancements in clinical alarm management.
Which region is gaining majority of market share during the forecast period (2021-2028)?
North America is expected to gain major market share during the forecast period (2021-2028).
