Valued at USD 1.06 billion in 2021, the clinical alarm management market is projected to reach USD 1.25 billion in 2022 and USD 5.4 billion by 2030, growing at a CAGR of 20.03% during the forecast period 2022–2030, according to Polaris Market Research. Key players include Koninklijke Philips, GE Healthcare, Medtronic, Ascom, Spok, Masimo, West-Com Nurse Call Systems, Hill-Rom Services, Vocera Communications, and Drägerwerk.

Clinician Burnout Intensifies the Need for Smarter Alerts

The rising prevalence of clinician burnout and fatigue among hospital staff is anticipated to drive the Clinical Alarm Management Market. According to a HIMSS article published in September 2022, the prevalence of burnout among U.S.-based physicians was 62.8% in 2021 compared with 38.2% in 2020. In June 2022, the American Medical Association announced a recovery plan for physicians and called for a telehealth expansion enabling adoption of clinical alarm management systems, among other measures. Staff shortages and increased workload leading to errors in patient care have further supported growth. Many hospitals also adopted alarm management solutions, including clinical alert management and COVID-19 alert systems, to manage pandemic-related disruptions.

Patient Monitoring Devices and Product Innovation

The rising trend of developing innovative patient monitoring devices is a key growth factor. In June 2022, GE Healthcare launched Portrait Mobile, a wireless patient monitoring system that helps detect patient deterioration, aimed at early detection and reduced hospital admissions. The development caters to the need for monitoring, since 65% of hospital patients are monitored manually on a global scale and are not adequately monitored. Intuitive systems are in demand because false alarms can cause mishaps in hospital management. Traditional alarm systems are less accurate in tracking patient vitals, which can prolong hospital stays and augments the need for modern integrated systems.

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Internet of Medical Things and Predictive Analysis Algorithms

Growth in the Internet of Medical Things industry and the rising need for assistive patient safety are anticipated to support the market. A BMC Health Services Research study published in March 2022 found that patient safety was among the ten leading causes of disability and loss of life in high-income countries, and an estimated 50% of these events could be prevented with interventions such as IoMT systems on clinical alarm management. Increasing awareness of predictive analysis algorithms used in patient care systems is also a key driver, and competition is shaped by merging historical data with artificial intelligence to predict and deliver critical services. Improved patient responses aided by intelligent alarm management systems have also supported growth.

Healthcare Interoperability and Cloud Integration

Lack of interoperability is listed as a restraint, which makes healthcare interoperability a priority. Philips' Capsule Surveillance solution enables interoperability with device alarm-aided electronic Intensive Care Units. In February 2022, Brivo collaborated with Sitasys AG to integrate evalink talos, a clinical alarm management system, with its cloud-based access control system, enabling cloud access to alarms for large-scale healthcare institutions. North America is expected to see rising adoption as institutions seek to centralize alarm management and speed up processes. Market players are also focused on strategic initiatives and on commercializing key products in partnership with healthcare providers.

Services, End Use, and Competitive Outlook

The services component is expected to dominate over the forecast period, supported by ease of use, cost-effectiveness, and strong customer support. In September 2022, 100Plus and Sweetwater Medical Associates announced success of an AI-assisted RPM platform, and in January 2022 Ascom received Medical Device Regulation certification under class IIb for its Digistat Care software. Hospitals and clinics are expected to hold a significant revenue share. The report rates rivalry among existing firms as high. Spok's July 2022 agreement with inTechnology extends its healthcare communication products into Asia Pacific, improving hospitals' integration with clinical alarms, patient monitors, and Electronic Medical Records.

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