Clinical Alarm Management Market

Clinical Alarm Management Market: Robust Patient Safety Initiatives Fostering Demand: Global Industry Analysis, 2014 - 2018 and Opportunity Assessment, 2019 - 2029

2019-10-18
REP-GB-1713
25 Tables
111 Figures
270 pages

An Incisive, In-depth Analysis on the Clinical Alarm Management Market

This study offers a comprehensive, 360 degree analysis on the Clinical Alarm Management market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Clinical Alarm Management market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.

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clinical alarm management market snapshot

Clinical Alarm Management Market - Key Research Findings

The global clinical alarm management market was valued at ~US$ 591 Mn in 2018.
The clinical alarm management market is likely to increase at a CAGR of ~13% during the forecast period of 2019-2029.
Rapid adoption of big data analytics, implementation of clinical decision support tools, and growing demand for clinical alarm reporting software are factors that have been driving the clinical alarm management market growth.
North America remains a prominent region for the clinical alarm management market, which accounted for a market share of ~40% in 2018. However, the clinical alarm management market in APEJ (Asia Pacific Excluding Japan) is expected to grow at a high CAGR during the forecast period, and become the most significant market for clinical alarm management.
- APEJ, due to its strong economic growth and rising investment in the healthcare industry, will continue to be one of the prominent regional markets for clinical alarm management.
In order to stay ahead of the pack, companies are opting for product innovation strategy by integrating central monitoring systems in the clinical alarm management market. Such developments are likely to aid the market players in meeting the growing demand from various end users, including hospitals, clinics, ambulatory surgical centres, long-term and palliative care centres, home care, and others end users.
- For instance, in March 2018, GENERAL ELECTRIC Healthcare launched the LOGIQ E10, a next-generation radiology ultrasound system integrating Artificial Intelligence (AI), cloud connectivity, and advanced algorithms, to acquire and reconstruct data faster than ever before. It helps clinicians in making a real difference in patient care.
- Similarly, in October 2019, Koninklijke Philips N.V. and Spencer Health Solutions announced the expansion of their partnership to Europe. Technological solutions can help patients and their caregivers to improve medication plan compliance.

Key Factors Shaping the Clinical Alarm Management Market

Rising Adoption of Big Data Analytics

The volume of information in the healthcare industry has been on the rise, guided by enforcement and regulatory requirements, record keeping, and patient care. Currently, as the digitalization trend grows at rapid pace, the healthcare industry is moving towards the adoption of big data analytics to offer the best quality healthcare facilities with minimized cost. Moreover, big data analytics has capabilities of storing a large volume of data regarding clinical and healthcare functions, which include clinical decision support, disease surveillance, and population health management.
Increasing Adoption of Clinical Decision Support Tools

The U.S. department of health and human services has been assertive towards reimbursement models, such as bundled payments. Medicare service centres are increasingly trying to achieve greater consistency for cancer care and predictability of costs by adopting clinical decision tools. These tools are identified for transforming safety, quality, and efficiency in healthcare services as these clinical decision support tools offer timely and relevant information to physicians and other clinicians. These tools help improve the efficiency and safety at a potentially lower cost of care. Moreover, clinical decision support tools include order sets for particular condition and type of patients, databases, and recommendations that can provide relevant information to their patients and alerts about potentially harmful situations.
Growth Opportunities in Asia Pacific Region

Major clinical alarm management solution providers are focused on expanding their business across Asian Pacific countries such as India and China. Increasing investments in digitalization of technology by governments in these countries have led numerous companies to expand their businesses. Furthermore, healthy economic growth in these areas, along with the continued adoption of advanced technology, including Big Data and rising healthcare investments, generate significant growth opportunities for the clinical alarm management market.

clinical alarm management market share by region

Clinical Alarm Management Market: Structure Analysis

The clinical alarm management market is highly competitive in nature, with majority of key players putting an emphasis on product innovations and business partnerships, to achieve a stronger global footprint.
Increasing application areas of clinical alarm management solutions and competitive market have resulted in the differentiation and expansion of products by clinical alarm management providers.
Tier-1 players of the clinical alarm management market account for ~40% revenue share. Vendors such as GE Healthcare and Koninklijke Philips N.V. are among the largest and most experienced in the industry and have significant regional coverage across the globe.

Clinical Alarm Management Market Analysis 2019-2029

A recent market study published by FMI on the clinical alarm management market includes a global industry analysis 2014-2018 and an opportunity assessment 2019-2029, and delivers a comprehensive assessment of the most important market dynamics. After conducting thorough research on the historical as well as current growth parameters, growth prospects of this market are obtained with maximum precision.

Clinical Alarm Management Market: Segmentation

The global clinical alarm management market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.

Component

End User

Region

Solution
Clinical Decision Support Tool
Central Monitoring System
Mobility Solution
Clinical Alarm Reporting Software
Alarm Auditing Software
Service
Consulting
Implementation and Integration
Monitoring and Analytics

Hospitals
Clinics
Ambulatory Surgical Centres
Long-term and Palliative Care Centres
Home Care
Others

North America
Latin America
Western Europe
Eastern Europe
Asia Pacific

Excluding Japan

Japan
Middle East & Africa

Report Chapters

Chapter 01 – Executive Summary

The report initiates with the executive summary of the clinical alarm management market, which includes a summary of key findings and statistics of the market. It also includes the demand and supply-side trends pertaining to this market.

Chapter 02 – Market Overview

Readers can find the definition and a detailed taxonomy of the clinical alarm management market in this chapter, which will help them understand the basic information about the market. Along with this, comprehensive information pertaining to clinical alarm management and its properties are provided in this section. This section also highlights the inclusions and exclusions, which help readers understand the scope of the clinical alarm management market report.

Chapter 03 – Key Market Trends

The clinical alarm management market report provides key market trends that are expected to significantly impact market growth during the forecast period. Detailed industry trends are also provided in this section.

Chapter 04 – Key Success Factors

This section includes factors that have emerged as key successful factors and strategies adopted by key market participants.

Chapter 05 – Global Clinical Alarm Management Market Demand Analysis 2014-2018 and Opportunity Assessment 2019-2029

This section explains the value analysis for the global clinical alarm management market during the forecast period of 2019-2029. This chapter includes a detailed analysis of the historical clinical alarm management market, along with an opportunity analysis of the future. Readers can also find the absolute $ opportunity for the current year (2019), and an incremental $ opportunity for the forecast period (2019–2029). Along with this, the pricing analysis of the clinical alarm management market at the regional level has also been provided in this section.

Chapter 06 – Market Background

This chapter explains the key macroeconomic factors that are expected to influence the growth of the clinical alarm management market over the forecast period. Along with macroeconomic factors, this section also highlights the value chain, supply chain, forecast factors, and value chain analysis of the clinical alarm management market. Moreover, in-depth information about market dynamics and their impact analysis on the market have been provided in the successive section.

Chapter 07 – Global Clinical Alarm Management Market Analysis 2014-2018 and Opportunity Assessment 2019-2029 by Component

Based on component, the clinical alarm management market is segmented into solution and services. Solution is future segmented into clinical decision support tool, central monitoring system, mobility solution, clinical alarm reporting software, and alarm auditing software. Services of clinical alarm management is sub-segmented intoconsulting, implementation & integration, and monitoring and analytics. In this chapter, readers can find information about key trends and developments in the clinical alarm management market and market attractiveness analysis.

Chapter 08 – Global Clinical Alarm Management Market Analysis 2014-2018 and Opportunity Assessment 2019-2029 by End User

Based on end user, the clinical alarm management market is segmented into hospitals, clinics, ambulatory surgical centres, long-term and palliative care centres, home care, and others. In this chapter, readers can find information about developments and key trends in the clinical alarm management market.

Chapter 09 – Global Clinical alarm management Market Analysis 2014-2018 and Opportunity Assessment 2019-2029 by Region

This chapter explains how the clinical alarm management market will grow across various geographic regions such as North America, Latin America, Western Europe, Eastern Europe, APEJ (Asia-Pacific excluding Japan), Japan, and the Middle East & Africa.

Chapter 10 – North America Clinical Alarm Management Market Analysis 2014-2018 and Opportunity Assessment 2019-2029

This chapter includes a detailed analysis on the growth of the North America clinical alarm management market, along with a country-wise assessment in the U.S. and Canada. Readers can also find pricing analysis, regional trends, volume analysis, and market growth based on component, end user, and countries in North America.

Chapter 11 – Latin America Clinical Alarm Management Market Analysis 2014-2018 and Opportunity Assessment 2019-2029

This chapter provides the growth scenario of the clinical alarm management market in Latin American countries such as Brazil, Mexico, and the rest of Latin America. Along with this, assessment of the market across target segments has been provided.

Chapter 12 – Western Europe Clinical Alarm Management Market Analysis 2014-2018 and Opportunity Assessment 2019-2029

Important growth prospects of the clinical alarm management market in several countries such as Germany, the UK, France, Spain, Italy, BENELUX, and the rest of Western Europe are included in this chapter.

Chapter 13 – Eastern Europe Clinical Alarm Management Market Analysis 2014-2018 and Opportunity Assessment 2019-2029

This chapter provides the growth scenario of the clinical alarm management market in Eastern Europe countries such as Russia, Poland, and the rest of the Eastern Europe.

Chapter 14 – Asia Pacific Excluding Japan Clinical Alarm Management Market Analysis 2014-2018 and Opportunity Assessment 2019-2029

This chapter highlights the growth of the clinical alarm management market in APEJ by focusing on China, India, ASEAN, Australia & New Zealand, and the rest of APEJ. This section also help readers understand key factors that are responsible for the growth of the clinical alarm management market in APEJ.

Chapter 15 – Japan Clinical Alarm Management Market Analysis 2014-2018 and Opportunity Assessment 2019-2029

This section also help readers understand key factors that are responsible for the growth of the clinical alarm management market in Japan.

Chapter 16 – Middle East & Africa Clinical Alarm Management Market Analysis 2014-2018 and Opportunity Assessment 2019-2029

This chapter provides information about how the clinical alarm management market will grow in major countries in the Middle East & Africa region, such as GCC Countries, South Africa, Northern Africa, Turkey, and the rest of Middle East & Africa, during the forecast period of 2019-2029.

Chapter 17 – Market Structure Analysis

In this chapter, readers can find detailed information about the tier analysis and market concentration of key players in the clinical alarm management market, along with their market presence analysis by region and product portfolios.

Chapter 18 – Competition Analysis

In this chapter, readers can find a comprehensive list of all the prominent stakeholders in the clinical alarm management market, along with the detailed information about each company, which include the company overview, revenue shares, strategic overview, and recent developments. Some of the market players featured in the report are Medtronic, GE Healthcare, Koninklijke Philips N.V., Baxter, Connexall, Mindray Medical International Limited, Vocera, Drager, and Spok Inc.

Chapter 19 – Assumptions and Acronyms

This chapter includes a list of acronyms and assumptions that provides a base to the information and statistics included in the clinical alarm management market report.

Chapter 20 – Research Methodology

This chapter help readers understand the research methodology followed to obtain various conclusions as well as important qualitative and quantitative information about the clinical alarm management market.

Sources and Primary Research Splits (%)

Industry Interaction