Market Overview:
The global clinical alarm management market is expected to grow at a CAGR of 10.8% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for clinical decision support tools, central monitoring system, mobility solutions, and alarm auditing software. Additionally, the growing awareness about patient safety and rising number of hospital-acquired infections are also contributing to the growth of this market. However, lack of standardization and interoperability among different systems is restraining the growth of this market. On the basis of type, the global clinical alarm management market is segmented into clinical decision support tools, central monitoring system, mobility solutions,clinical alarm reporting software,,and alarm auditing software. The central monitoring system segment is expected to grow at a highest CAGR during forecast period owing to its ability to manage alarms from various medical devices simultaneously and provide actionable insights for better patient care outcomes. On basis on application,,the global Clinical Alarm Management Marketis divided into BFSI,,healthcare,,telecommunication & IT,,government,,,,retail,,,,travel & hospitality,,,,manufacturing,,,,and others segments respectively . Among these segments,.the healthcare sector accounts for majority share in terms of revenue contribution as it helps hospitals improve operational efficiency by reducing manual tasks such as charting or transcribing data manually etc.
Product Definition:
Clinical alarm management is the process of managing alarms from patient monitors to ensure that they are timely, accurate, and actionable. The importance of clinical alarm management is that it helps to ensure the safety of patients by reducing the number of false alarms and providing clinicians with timely information about patients' status.
Clinical Decision Support Tools:
Clinical decision support tools, also known as computer-aided clinical decisions or CDS tools, are electronic devices and software used to help physicians in the management of emergency cases. These systems provide quick access to medical information required during the treatment process. The information can be retrieved from a database or can be entered manually via keypads and then displayed on screen for ease of use.
Central Monitoring System:
The global Central Monitoring System (CMS) and it's usage in the clinical alarm management market is anticipated to grow at a lucrative rate over the forecast period. The growth of this segment can be attributed to factors such as increasing awareness about patient safety, rising number of patients with chronic diseases, and growing need for cost-effective solutions.
Application Insights:
The healthcare segment dominated the global clinical alarm management market in 2017, accounting for a revenue share of over 30%. The growing volume and complexity of data are creating challenges for the existing systems. Clinical alarms help in reducing the number of errors caused due to human error. These alarms also help reduce medical complications by prompting automated corrective measures. Furthermore, these solutions also enable real-time communication between clinicians and patients to ensure effective patient care delivery while minimizing risks associated with human errors or system failures.
The BFSI sector is expected to grow at a significant rate during the forecast period owing to increasing frauds and cyberattacks across all banks globally that are leading towards an increased need for robust security solutions such as anti-fraud software & hardware tools along with integrated security services from third party service providers which can be obtained through CEMS/CMSs combination thereby driving industry growth over the forecast period.
Regional Analysis:
North America dominated the global market in 2017. The growth of this region can be attributed to various factors such as increasing government initiatives, rising healthcare expenditure, and growing adoption of advanced technologies. Moreover, the presence of major players in this region is expected to drive regional market growth over the forecast period.
Asia Pacific is anticipated to witness lucrative CAGR during the forecast period owing to factors such as improving healthcare infrastructure and economic development in emerging countries like China and India. Furthermore, an increase in chronic diseases leading to high patient volume is also driving demand for alarm management solutions across Asia Pacific region. In addition, a rise in awareness about early disease detection using alarm management systems will propel industry growth over the next eight years (from 2018 - 2030).
Growth Factors:
- Increasing demand for better patient care and safety
- Rising incidence of chronic diseases
- Growing geriatric population
- Technological advancements in alarm management systems
- Government initiatives and funding for alarm management
Scope Of The Report
Report Attributes
Report Details
Report Title
Clinical Alarm Management Market Research Report
By Type
Clinical Decision Support Tools, Central Monitoring System, Mobility Solutions, Clinical Alarm Reporting Software, Alarm Auditing Software
By Application
BFSI, Healthcare, Telecommunication & IT, Government, Retail, Travel & Hospitality, Manufacturing, Others
By Companies
Medtronic, GE, Koninklijke Philips, Baxter, Connexall, Mindray Medical International, Vocera, Drager, Spok
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
246
Number of Tables & Figures
173
Customization Available
Yes, the report can be customized as per your need.
Global Clinical Alarm Management Market Report Segments:
The global Clinical Alarm Management market is segmented on the basis of:
Types
Clinical Decision Support Tools, Central Monitoring System, Mobility Solutions, Clinical Alarm Reporting Software, Alarm Auditing Software
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
BFSI, Healthcare, Telecommunication & IT, Government, Retail, Travel & Hospitality, Manufacturing, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Medtronic
- GE
- Koninklijke Philips
- Baxter
- Connexall
- Mindray Medical International
- Vocera
- Drager
- Spok
Highlights of The Clinical Alarm Management Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Clinical Decision Support Tools
- Central Monitoring System
- Mobility Solutions
- Clinical Alarm Reporting Software
- Alarm Auditing Software
- By Application:
- BFSI
- Healthcare
- Telecommunication & IT
- Government
- Retail
- Travel & Hospitality
- Manufacturing
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Clinical Alarm Management Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Clinical alarm management is the process of managing alarms and notifications in a healthcare setting. Alarms can be used to indicate when something is wrong with a patient, such as an irregular heartbeat or low blood pressure, or when there is an emergency situation. Notifications are messages sent to patients and their families about important events in the hospital.
Some of the major companies in the clinical alarm management market are Medtronic, GE, Koninklijke Philips, Baxter, Connexall, Mindray Medical International, Vocera, Drager, Spok.
The clinical alarm management market is expected to grow at a compound annual growth rate of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Clinical Alarm Management Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Clinical Alarm Management Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Clinical Alarm Management Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Clinical Alarm Management Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Clinical Alarm Management Market Size & Forecast, 2020-2028
4.5.1 Clinical Alarm Management Market Size and Y-o-Y Growth
4.5.2 Clinical Alarm Management Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Clinical Decision Support Tools
5.2.2 Central Monitoring System
5.2.3 Mobility Solutions
5.2.4 Clinical Alarm Reporting Software
5.2.5 Alarm Auditing Software
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 BFSI
6.2.2 Healthcare
6.2.3 Telecommunication & IT
6.2.4 Government
6.2.5 Retail
6.2.6 Travel & Hospitality
6.2.7 Manufacturing
6.2.8 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Clinical Alarm Management Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Clinical Alarm Management Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Clinical Decision Support Tools
9.6.2 Central Monitoring System
9.6.3 Mobility Solutions
9.6.4 Clinical Alarm Reporting Software
9.6.5 Alarm Auditing Software
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 BFSI
9.10.2 Healthcare
9.10.3 Telecommunication & IT
9.10.4 Government
9.10.5 Retail
9.10.6 Travel & Hospitality
9.10.7 Manufacturing
9.10.8 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Clinical Decision Support Tools
10.6.2 Central Monitoring System
10.6.3 Mobility Solutions
10.6.4 Clinical Alarm Reporting Software
10.6.5 Alarm Auditing Software
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 BFSI
10.10.2 Healthcare
10.10.3 Telecommunication & IT
10.10.4 Government
10.10.5 Retail
10.10.6 Travel & Hospitality
10.10.7 Manufacturing
10.10.8 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Clinical Decision Support Tools
11.6.2 Central Monitoring System
11.6.3 Mobility Solutions
11.6.4 Clinical Alarm Reporting Software
11.6.5 Alarm Auditing Software
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 BFSI
11.10.2 Healthcare
11.10.3 Telecommunication & IT
11.10.4 Government
11.10.5 Retail
11.10.6 Travel & Hospitality
11.10.7 Manufacturing
11.10.8 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Clinical Decision Support Tools
12.6.2 Central Monitoring System
12.6.3 Mobility Solutions
12.6.4 Clinical Alarm Reporting Software
12.6.5 Alarm Auditing Software
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 BFSI
12.10.2 Healthcare
12.10.3 Telecommunication & IT
12.10.4 Government
12.10.5 Retail
12.10.6 Travel & Hospitality
12.10.7 Manufacturing
12.10.8 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Clinical Decision Support Tools
13.6.2 Central Monitoring System
13.6.3 Mobility Solutions
13.6.4 Clinical Alarm Reporting Software
13.6.5 Alarm Auditing Software
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 BFSI
13.10.2 Healthcare
13.10.3 Telecommunication & IT
13.10.4 Government
13.10.5 Retail
13.10.6 Travel & Hospitality
13.10.7 Manufacturing
13.10.8 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Clinical Alarm Management Market: Competitive Dashboard
14.2 Global Clinical Alarm Management Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Medtronic
14.3.2 GE
14.3.3 Koninklijke Philips
14.3.4 Baxter
14.3.5 Connexall
14.3.6 Mindray Medical International
14.3.7 Vocera
14.3.8 Drager
14.3.9 Spok
