The global Clinical Alarm Management market size is expected to be worth around US$ 10.9 billion by 2030, according to a new report by Vision Research Reports.
The global Clinical Alarm Management market size was valued at US$ 962.5 million in 2020 and is anticipated to grow at a CAGR of 28.5% during forecast period 2021 to 2030.
Report Coverage
Report Scope | Details |
Market Size | US$ 10.9 Billion by 2030 |
Growth Rate | CAGR of 28.5% From 2021 to 2030 |
Base Year | 2021 |
Forecast Period | 2021 to 2030 |
Segments Covered | Product, Component, end-use |
Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
Companies Mentioned | Koninklijke Philips N.V.; General Electric Company (GE Healthcare); Ascom; Spok, Inc.; Masimo; Hill-Rom Services, Inc.; Vocera Communications; Capsule Technologies, Inc.; Johnson Controls; West-Com |
Growth Factors
The increasing prevalence of alarm fatigue is one of the primary factors augmenting the market. Furthermore, rising technological advancements coupled with the growing adoption of clinical alarm management solutions by healthcare facilities due to their benefits are also the driving factors for the market growth during the projected period.
To curb the spread of the COVID-19 pandemic, government institutions across various nations established various COVID-19 alert systems for providing policy directives and situational awareness for the general public. Various healthcare facilities also started adopting various alarm management solutions for providing timely treatment to patients. Hence, the COVID-19 pandemic fueled market growth in 2020 and 2021.
Various benefits of clinical alarm management solutions are also likely to increase the demand for these solutions which fuels the market growth. These benefits are clinical, operational, as well as financial. Clinical benefits include enhanced patient and family satisfaction, improved sleep and rest, reduction in non-actionable alarms and gaps in alarm protocol, and enhanced patient safety along with possibly fewer missed true positive alarms.
By Component Analysis
The clinical alarm management solutions segment dominated the market and accounted for the largest revenue share of more than 66.0% in 2020. This is owing to the rising adoption of connected care technologies in healthcare, initiatives by key companies, and the need to reduce alarm fatigue.
The services segment is estimated to witness the fastest growth rate over the forecast period owing to initiatives by public and private health institutions, increasing service offerings by key market players, and growing demand to minimize risks to patient safety, which is anticipated to fuel the segment growth in the coming years.
By End-use Analysis
The hospitals and clinics segment dominated the market and accounted for the largest revenue share of over 26.0% in 2020 due to the growing number of patient flow, rising emergency cases, and incorporation of sophisticated clinical alarm management solutions.
The long-term care facilities segment is anticipated to witness the fastest growth rate of 27.9% over the forecast period owing to the growing number of old-age facilities and growing awareness regarding the importance of clinical alarm management solutions in these facilities.
By Product Analysis
The nurse call systems segment dominated the market and accounted for the largest revenue share of over 25.0% in 2020. The factors attributed to this large share include product developments driven by wireless technology and automation, and the need to improve clinical workflow and reduce operating costs for the healthcare facility while making optimum use of available resources.
The EMR integration systems segment is anticipated to witness the highest CAGR of 28.9% from 2021 to 2030 owing to rising digitalization in healthcare, a surge in adoption of EHR/ EMR solutions from clinics to hospitals, and rising interoperability across digital healthcare solutions.
By Regional Analysis
North America dominated the clinical alarm management market and accounted for the largest revenue share of over 45.0% in 2020, attributed to the growing importance of providing quality healthcare services.
In Asia Pacific, the market is anticipated to witness the highest CAGR of 31.3% over the forecast period. This can be attributed to the growing adoption of technologically advanced solutions for providing better healthcare facilities.
Key Players
Koninklijke Philips N.V.
General Electric Company (GE Healthcare)
Ascom
Spok, Inc.
Masimo
Hill-Rom Services, Inc.
Vocera Communications
Capsule Technologies, Inc.
Johnson Controls
West-Com
Market Segmentation
By Product
Nurse Call Systems
Physiological Monitors
Bed Alarms
EMR Integration Systems
Ventilators
Others
By Component
Solutions
Services
By End-use
Hospitals & Clinics
Home Care Settings
Ambulatory Care Centers
Long-Term Care Facilities
Specialty Centers
Regional
North America
U.S.
Canada
Europe
Germany
U.K.
France
Italy
Spain
Asia Pacific
Japan
China
India
Australia
South Korea
Latin America
Brazil
Mexico
Argentina
Middle East and Africa (MEA)
Saudi Arabia
South Africa
UAE
The Clinical Alarm Management market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Clinical Alarm Management market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Clinical Alarm Management market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Clinical Alarm Management market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Clinical Alarm Management market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Clinical Alarm Management capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Clinical Alarm Management by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Clinical Alarm Management market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Clinical Alarm Management market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Clinical Alarm Management market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Clinical Alarm Management industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Clinical Alarm Management market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Clinical Alarm Management market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Clinical Alarm Management market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Clinical Alarm Management market. These factors have benefited the growth of the global market for Clinical Alarm Management. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Clinical Alarm Management. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Clinical Alarm Management are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
Research Methodology:
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
The study objectives of this report are:
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Clinical Alarm Management Market, By Capacitor
7.1. Clinical Alarm Management Market, by Capacitor, 2021-2030
7.1.1. Nurse Call Systems
7.1.1.1. Market Revenue and Forecast (2017-2030)
7.1.2. Physiological Monitors
7.1.2.1. Market Revenue and Forecast (2017-2030)
7.1.3. Bed Alarms
7.1.3.1. Market Revenue and Forecast (2017-2030)
7.1.4. EMR Integration Systems
7.1.4.1. Market Revenue and Forecast (2017-2030)
7.1.5. Ventilators
7.1.5.1. Market Revenue and Forecast (2017-2030)
Chapter 8. Global Clinical Alarm Management Market, By Component
8.1. Clinical Alarm Management Market, by Component, 2021-2030
8.1.1. Solutions
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. Services
8.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Clinical Alarm Management Market, By End User
9.1. Clinical Alarm Management Market, by End User, 2021-2030
9.1.1. Hospitals & Clinics
9.1.1.1. Market Revenue and Forecast (2017-2030)
9.1.2. Home Care Settings
9.1.2.1. Market Revenue and Forecast (2017-2030)
9.1.3. Ambulatory Care Centers
9.1.3.1. Market Revenue and Forecast (2017-2030)
9.1.4. Long-Term Care Facilities
9.1.4.1. Market Revenue and Forecast (2017-2030)
9.1.5. Specialty Centers
9.1.5.1. Market Revenue and Forecast (2017-2030)
Chapter 10. Global Clinical Alarm Management Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, by Capacitor (2017-2030)
10.1.2. Market Revenue and Forecast, by Component (2017-2030)
10.1.3. Market Revenue and Forecast, by End User (2017-2030)
10.1.4. U.S.
10.1.4.1. Market Revenue and Forecast, by Capacitor (2017-2030)
10.1.4.2. Market Revenue and Forecast, by Component (2017-2030)
10.1.4.3. Market Revenue and Forecast, by End User (2017-2030)
10.1.5. Rest of North America
10.1.5.1. Market Revenue and Forecast, by Capacitor (2017-2030)
10.1.5.2. Market Revenue and Forecast, by Component (2017-2030)
10.1.5.3. Market Revenue and Forecast, by End User (2017-2030)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Capacitor (2017-2030)
10.2.2. Market Revenue and Forecast, by Component (2017-2030)
10.2.3. Market Revenue and Forecast, by End User (2017-2030)
10.2.4. UK
10.2.4.1. Market Revenue and Forecast, by Capacitor (2017-2030)
10.2.4.2. Market Revenue and Forecast, by Component (2017-2030)
10.2.4.3. Market Revenue and Forecast, by End User (2017-2030)
10.2.5. Germany
10.2.5.1. Market Revenue and Forecast, by Capacitor (2017-2030)
10.2.5.2. Market Revenue and Forecast, by Component (2017-2030)
10.2.5.3. Market Revenue and Forecast, by End User (2017-2030)
10.2.6. France
10.2.6.1. Market Revenue and Forecast, by Capacitor (2017-2030)
10.2.6.2. Market Revenue and Forecast, by Component (2017-2030)
10.2.6.3. Market Revenue and Forecast, by End User (2017-2030)
10.2.7. Rest of Europe
10.2.7.1. Market Revenue and Forecast, by Capacitor (2017-2030)
10.2.7.2. Market Revenue and Forecast, by Component (2017-2030)
10.2.7.3. Market Revenue and Forecast, by End User (2017-2030)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Capacitor (2017-2030)
10.3.2. Market Revenue and Forecast, by Component (2017-2030)
10.3.3. Market Revenue and Forecast, by End User (2017-2030)
10.3.4. India
10.3.4.1. Market Revenue and Forecast, by Capacitor (2017-2030)
10.3.4.2. Market Revenue and Forecast, by Component (2017-2030)
10.3.4.3. Market Revenue and Forecast, by End User (2017-2030)
10.3.5. China
10.3.5.1. Market Revenue and Forecast, by Capacitor (2017-2030)
10.3.5.2. Market Revenue and Forecast, by Component (2017-2030)
10.3.5.3. Market Revenue and Forecast, by End User (2017-2030)
10.3.6. Japan
10.3.6.1. Market Revenue and Forecast, by Capacitor (2017-2030)
10.3.6.2. Market Revenue and Forecast, by Component (2017-2030)
10.3.6.3. Market Revenue and Forecast, by End User (2017-2030)
10.3.7. Rest of APAC
10.3.7.1. Market Revenue and Forecast, by Capacitor (2017-2030)
10.3.7.2. Market Revenue and Forecast, by Component (2017-2030)
10.3.7.3. Market Revenue and Forecast, by End User (2017-2030)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Capacitor (2017-2030)
10.4.2. Market Revenue and Forecast, by Component (2017-2030)
10.4.3. Market Revenue and Forecast, by End User (2017-2030)
10.4.4. GCC
10.4.4.1. Market Revenue and Forecast, by Capacitor (2017-2030)
10.4.4.2. Market Revenue and Forecast, by Component (2017-2030)
10.4.4.3. Market Revenue and Forecast, by End User (2017-2030)
10.4.5. North Africa
10.4.5.1. Market Revenue and Forecast, by Capacitor (2017-2030)
10.4.5.2. Market Revenue and Forecast, by Component (2017-2030)
10.4.5.3. Market Revenue and Forecast, by End User (2017-2030)
10.4.6. South Africa
10.4.6.1. Market Revenue and Forecast, by Capacitor (2017-2030)
10.4.6.2. Market Revenue and Forecast, by Component (2017-2030)
10.4.6.3. Market Revenue and Forecast, by End User (2017-2030)
10.4.7. Rest of MEA
10.4.7.1. Market Revenue and Forecast, by Capacitor (2017-2030)
10.4.7.2. Market Revenue and Forecast, by Component (2017-2030)
10.4.7.3. Market Revenue and Forecast, by End User (2017-2030)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Capacitor (2017-2030)
10.5.2. Market Revenue and Forecast, by Component (2017-2030)
10.5.3. Market Revenue and Forecast, by End User (2017-2030)
10.5.4. Brazil
10.5.4.1. Market Revenue and Forecast, by Capacitor (2017-2030)
10.5.4.2. Market Revenue and Forecast, by Component (2017-2030)
10.5.4.3. Market Revenue and Forecast, by End User (2017-2030)
10.5.5. Rest of LATAM
10.5.5.1. Market Revenue and Forecast, by Capacitor (2017-2030)
10.5.5.2. Market Revenue and Forecast, by Component (2017-2030)
10.5.5.3. Market Revenue and Forecast, by End User (2017-2030)
Chapter 11. Company Profiles
11.1. Koninklijke Philips N.V.
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. General Electric Company (GE Healthcare)
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Ascom
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. Spok, Inc.
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. Masimo
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. Hill-Rom Services, Inc.
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. Vocera Communications
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. Capsule Technologies, Inc.
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. Johnson Controls
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. West-Com
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms