The global clinical alarm management market size is expected to reach USD 5.4 billion by 2030, according to a new study by Polaris Market Research. The report “Clinical Alarm Management Market Share, Size, Trends, Industry Analysis Report, By Product (Nurse Call System, Bed Alarms, Physiological Monitors & Ventilators, EMR integration systems); By Component; By End Use; By Region; Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
In the modern healthcare environment, increasing responsibility of managing clinical alarms by clinicians which have led to alarm fatigue is causing healthcare providers to be desensitized to alarms and is altering their response times. The increasing alarm fatigue among physicians along with constant efforts of healthcare institutions for cost containment is some primary reasons expected to foster the growth of the market. Clinical alarm management (CAM) uses technology such as automated escalation rules and intelligent patient monitoring systems to reduce the number of unnecessary alarms thereby occupying less staff and reducing costs to the provider.
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In February 2022, Masimo announced its partnership with Temple Health with a view to expanding the integration and use of Masimo’s patient monitoring Centroid across its medical center in Philadelphia, U.S. The partnership will improve the company’s brand presence in the industry and assist patient care providers. The increasing adoption of patient monitoring devices with clinical alarms for effective patient care management along with provision of key advantages such as curbing physical alarm fatigue is anticipated to drive the growth of the market.
COVID-19 pandemic positively impacted the market with an upsurge in patient population and hospital admissions requiring patient monitoring systems. The market observed a sudden increase in demand for CAM systems owing to hospital emergencies, due to which major manufacturers increased the availability of these systems to cater to the need. Moreover, swift government regulatory authorizations for these devices owing to the categorization of essential medical devices augmented their uptake and supported the growth of the market.
Clinical Alarm Management Market Report Highlights
- EMR integration systems segment is anticipated to grow rapidly over the forecast period owing to hospitals and clinics actively investing in electronic record-keeping systems to improve patient care along with an increase in the number of CAM services used by hospitals, clinics, and other medical institutions.
- Services segment accounted for a major revenue share which is accelerated by the rising demand for healthcare data interoperability integrated systems along with availability of clinical alarm-aided medical software services to cater to the need of hospital staff such as critical patient care.
- Hospitals & Clinics sector is expected to hold a significant market share over the forecast period due to the various hospitals incorporating artificial intelligence-based clinical alarm systems along with a rising trend of upgrading their healthcare system architecture to a multi-tenant system.
- North America is expected to grow dominantly over the projected period because of the growing geriatric population requiring critical patient care in the region, combined with the shifting preference of the government towards a value-based reimbursement model.
- The global players include Koninklijke Philips, General Electric Company, Medtronic, Ascom, Spok, Masimo, West-Com Nurse Call Systems, Hill-Rom Services, Vocera Communications, Drägerwerk, among others.
Polaris Market Research has segmented the clinical alarm management market report based on product, component, end-use, and region:
Clinical Alarm Management, Product Outlook (Revenue – USD Billion, 2018 – 2030)
- Nurse Call System
- Bed Alarms
- Physiological Monitors & Ventilators
- EMR integration systems
Clinical Alarm Management, Component Outlook (Revenue – USD Billion, 2018 – 2030)
Clinical Alarm Management, End Use Outlook (Revenue – USD Billion, 2018 – 2030)
- Hospitals & Clinics
- Ambulatory & Home Care Centers
Clinical Alarm Management, Regional Outlook (Revenue – USD Billion, 2018 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa