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3. Koninklijke Philips N.V. (Netherlands) and Drägerwerk AG & Co. KGaA (Germany) are Leading Players in the Clinical Alarm Management Market

The global clinical alarm management market is projected to reach USD 5.4 billion by 2027 from USD 3.3 billion in 2022, at a CAGR of 10.4% during the forecast period. The increasing demand for healthcare and the rising patient population have resulted in a higher frequency of alarms, regardless of priority. This results in alarm fatigue. Alarm fatigue is the major factor driving the adoption of clinical alarm management systems and solutions as safety initiatives for healthcare providers. Clinical Alarm has potential to cut costs and facilitate better patient management, given the rising disease prevalence and growing geriatric population, is a key contributor to market growth.

However, the current lack of interoperability in HCIT solutions and the high investments needed to build an effective infrastructure for HCIT capabilities among end users are expected to hinder the growth of the clinical alarm management market in the coming years.

To know about the assumptions considered for the study download the pdf brochure

The Prominent players in this market are Koninklijke Philips N.V. (Netherlands), Vocera Communications (US), GE Healthcare (US), Ascom (Switzerland), Spok, Inc. (US), Masimo (US), Connexall (Canada), Capsule Technologies, Inc. (US), Cornell Communications (US), Mobile Heartbeat (US), Drägerwerk AG & Co. KGaA (Germany), Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China), Baxter (US), Intercall Systems Inc. (US), Medtronic (Ireland), Johnson Controls (Ireland), West-Com Nurse Call Systems (US), Critical Alert (US), CSinc (India), Live Sentinel (US), Amplion Clinical Communications, Inc. (US), Cerner Corporation (US), Alpha Communications (US), Fujian Huanyutong Technology Co., Ltd. (China), and Tunstall Group (UK). These players are increasingly focusing on new product launches and partnerships to expand their product offerings in the clinical alarm management market.

Koninklijke Philips N.V. ranks first in the clinical alarm management market. The company is one of the leading clinical technology companies engaged in diagnostic imaging, image-guided therapy, patient monitoring, health informatics, and consumer health and home care. Philips Healthcare operates as a subsidiary of Koninklijke Philips. The company offers alarm management solutions through the Connected Care business segment. Koninklijke Philips operates in over 100 countries worldwide.

Dräger ranks second in the clinical alarm management market. Dräger is an international leader in the field of medical and safety technology. The company operates through two business segments, namely, Medical and Safety. The Medical business segment offers anesthesia workstations, ventilators for intensive and emergency care, patient monitoring solutions, alarm management solutions as well as neonatal care equipment for premature babies and newborns. The company has its presence in 190 countries and maintains sales and service companies in 50 countries.

Johnson Controls is also a leading player in the clinical alarm management market. Johnson Controls provides security products and services, fire detection and suppression products and services, and life safety products. In 2016, the company acquired Tyco International plc (Ireland). Tyco offers its products under the SimplexGrinnell, Sensormatic, Wormald, Ansul, Simplex, Scott, and ADT brands to commercial, industrial, retail, small business, institutional, and government customers.

Related Reports:

Clinical Alarm Management Market by Component (Software, Services), Product (Nurse Call Systems, Physiological Monitors, EMR Integration, Ventilators), End User (Hospitals, Long Term Care Centers, Ambulatory, Home Care Centers) - Global Forecasts to 2027

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Mr. Aashish Mehra
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