North America Clinical Alarm Management Market Size & Outlook
North America clinical alarm management market, 2018-2030 (US$M)
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North America clinical alarm management market highlights
- The North America clinical alarm management market generated a revenue of USD 542.2 million in 2022.
- The market is expected to grow at a CAGR of 18.9% from 2023 to 2030.
- In terms of segment, hospitals & clinics was the largest revenue generating end use in 2022.
- Long-Term Care Facilities is the most lucrative end use segment registering the fastest growth during the forecast period.
- Country-wise, Canada is expected to register the highest CAGR from 2023 to 2030.
North America data book summary
| Market revenue in 2022 | USD 542.2 million |
| Market revenue in 2030 | USD 2,161.7 million |
| Growth rate | 18.9% (CAGR from 2022 to 2030) |
| Largest segment | Hospitals & clinics |
| Fastest growing segment | Long-Term Care Facilities |
| Historical data covered | 2018 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Home Care Settings, Specialty Centers, Hospitals & Clinics, Ambulatory Care Centers, Long-Term Care Facilities |
| Key market players worldwide | Koninklijke Philips NV, GE HealthCare Technologies Inc Common Stock, Ascom Holding AG, Spok Holdings Inc, Masimo Corp, Hill-Rom, Qualcomm Inc, Medtronic PLC, West Pharmaceutical Services Inc, Stryker Corp |
Other key industry trends
- In terms of revenue, North America region accounted for 44.4% of the global clinical alarm management market in 2022.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 1,489.3 million by 2030.
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Clinical Alarm Management Market Scope
Clinical Alarm Management Market Companies
| Name | Profile | # Employees | HQ | Website |
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North America clinical alarm management market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to clinical alarm management market will help companies and investors design strategic landscapes.
Hospitals & clinics was the largest segment with a revenue share of 26.74% in 2022. Horizon Databook has segmented the North America clinical alarm management market based on home care settings, specialty centers, hospitals & clinics, ambulatory care centers, long-term care facilities covering the revenue growth of each sub-segment from 2018 to 2030.
The North American region dominates the clinical alarm management market globally. This can be attributed to an increase in alarm fatigue and false positive alarms, initiatives undertaken by government bodies to minimize the consequences of non-actionable alarms, rise in need for integrated healthcare IT systems to enhance reliability, data integrity, and others.
Growth strategies, such as agreements, launch of advanced products, expansion of product portfolio, and partnerships with key players boost market growth. Masimo accounted for significant shares in the North American clinical alarm management market.
This was as a result of the company offering various alarm management services and solutions in the U.S. region and launching new products. For instance, in November 2021, Masimo launched Dual SET Pulse Oxymetry. This solution enhances the automation of newborn screenings using Dual SET Oximetry.
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Horizon Databook provides a detailed overview of continent-level data and insights on the North America clinical alarm management market , including forecasts for subscribers. This continent databook contains high-level insights into North America clinical alarm management market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America clinical alarm management market size, by country, 2018-2030 (US$M)
North America Clinical Alarm Management Market Outlook Share, 2022 & 2030 (US$M)
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