Clinical Alarm Management Market: Overview

Clinical alarms are used to warn caregivers of potential adverse or immediate patient conditions. The Association of Advancement of Medical Instrumentation, a non-profitable organization, focuses on the use and development of effective and safe medical equipment. It recognizes alarm management to be a key concern among health care organizations. The rise in technological advancements in the hospital sector and initiations in other medical firms have created awareness over the period of past 25 years. These advancements led to complicated, improved, and sophisticated health monitoring equipment. These advanced health monitoring equipment are manufactured with in-built audible alarms. These alarms are intentionally integrated to alert technicians, operators, or clinicians of any deviation from a preprogrammed or predetermined “normal” status. It is considered to be a pointer tool in improving the safety of patients. This information is further communicated by the operator or clinician to the patient or the concern person.

In the past, only a few medical devices in hospitals had alarm facility. The scenario has reversed since then. Most of the medical devices are manufactured with an alarm function. In acute care units, alarms are generated by a number of devices including respiratory monitoring equipment, infusion pumps, bed or chair alarms, feeding pumps, wound vacuum devices, cardiac monitors, ventilators, patient call systems, and sequential compression devices. There is a set standards for alarm sounds by manufacturers of a particular device. It is the responsibility of the caregivers to distinguish the audible alarms and to react based on the situation, according to the importance of the alarm sound. An alarm is an immediate warning aimed at making caregivers attentive toward the differing parameters of the device. Alarms of devices are predetermined, with many levels or categories or options which may or may not follow a hierarchical order. The hierarchical order of a physiologic monitor is detection of life-threatening situation (crisis alarm), detection of life threatening device malfunction (system failure), detection of imminent danger (warning alarm), detection of potential device malfunction (system warning), and detection of unsafe situation (advisory alarm). The severity of a particular alarm is determined by the kind of sound emitted. For example, an advisory alarm is distinctly different from a crisis alarm. Clinicians or technicians recognize and use the sound of an alarm to determine how fast or what to respond. Alarms in therapeutic devices do not have a hierarchical order, hence the alarm sounds the same pattern continuously, regardless of the situation

Clinical Alarm Management Market: Key Trends

Increase in the geriatric population, awareness about patient safety, rise in prevalence of chronic diseases, and surge in alarm fatigue are the major drivers of the global clinical alarm management market. However, adverse events and complications associated with devices and lack of product standardization are the factors anticipated to hamper market growth during the forecast period.

Clinical Alarm Management Market: Segmentation

The global clinical alarm management market can be segmented based on component, product, end-user, and region. In terms of component, the global market can be bifurcated into solutions and services. The services segment can be classified into implementation & integration and consulting. The solutions segment is projected to account for major market share during the forecast period. Based on product, the global clinical alarm management market can be categorized into nurse call systems, physiological monitors, bed alarms, EMR integration systems, ventilators, and others (pulse oximeters and infusion pumps). Usage of EMR integration systems is anticipated to rise during the forecast period due to technological developments. In terms of end-user, the global market can be divided into hospitals, long-term care centers, ambulatory care centers & home care settings, and others. The ambulatory care centers & home care settings segment is expected to capture significant market share during the forecast period.

Clinical Alarm Management Market: Regional Analysis

In terms of region, the global clinical alarm management market can be segmented into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. North America is likely to be a major market during the forecast period. The region’s dominance is attributed to strategic presence of key players in the U.S. and Canada.

Clinical Alarm Management Market: Competitive Landscape

Key players operating in the global clinical alarm management market are Medtronic, General Electric Company, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Baxter, Vocera Communications, Extension, LLC, Koninklijke Philips N.V., Ascom, Spok, Inc., and Bernoulli, among others.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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