Clinical alarm
management solutions are adopted by hospitals and ambulatory surgical
centres to manage and respond to clinical alarms as and when they
arise to minimize alarm fatigue. Clinical alarm management solutions
are implemented by several enterprises for a number of applications
and include clinical decision support tools, mobility solutions,
central monitoring systems, alarm auditing software, and clinical
alarm reporting software. In its recent report titled, ‘Clinical
Alarm Management Market: Global Industry Analysis (2012-2016) and
Opportunity Assessment (2017-2027)’, Future Market Insights has
conducted a thorough analysis of the global clinical alarm management
market. The clinical alarm management market is anticipated to push
past a value of US$ 4 billion by end 2027.
The solutions
component is projected to be more than thrice the size of the
services component at the end of the forecast period and key
stakeholders in the clinical alarm management market are advised to
take this into account. The solutions component could exceed a value
of US$ 3 billion by the end of the decadal study with a third of this
being in the clinical decision support tools sub-segment. However, a
substantially higher CAGR is likely in the mobility solutions segment
as the number of smartphone users has risen exponentially in the past
few years. Most healthcare professionals access their smartphone to
monitor their patients on a real-time basis via patient monitoring
apps. This enhances caregiver efficiency by minimizing institutional
operational cost and allows organizations to use mobility for alarm
management as well as clinical decision support.
Hospitals and
ambulatory surgical centres are the largest end-users in the clinical
alarm management market and should remain so for the foreseeable
future. Although hospitals are approx. thrice the size of ambulatory
surgical centres, the latter is on track to post a higher CAGR of
9.5% from 2017 to 2027, making the segment vital for companies
involved in the clinical alarm management market.
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A major challenge
faced by hospitals is alarm fatigue that can occur because different
clinical alarms generated by medical devices can have a devastating
impact on clinicians, patients, and relatives. Alarm fatigue occurs
when clinicians are desensitized and non-reactive on account of an
overwhelming load and is a grave threat for patient safety. Human
factors, staffing issues, and technological also come into play here
and all this can significantly hamper growth of the clinical alarm
management market.
North America had a
market share of slightly under half the clinical alarm management
market at the end of 2017 but is projected to lose a massive 420 BPS
going forward. Nonetheless, its commanding lead ensures that Western
Europe doesn’t surpass it during the course of the forecast period.
The US accounts for roughly 4/5th of the North America clinical alarm
management market because the US Department of Health and Human
Services allow reimbursement models such as bundled payments.
Medicare and Medicaid service centres are striving to achieve greater
cancer care consistency and cost predictability with the adoption of
clinical decision tools. These tools play a game-changing role
improving safety, quality, and efficiency as they offer timely,
relevant information to healthcare professionals at a lower cost.
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Companies profiled
in the clinical alarm management market report are Medtronic, GE
Healthcare, Baxter, Koninklijke Philips, Connexall, Vocera, Drager,
Mindray Medical International Limited, , and Spok Inc.
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