Global Medical Alert System/Personal Emergency Response System Market was valued at US$ 7.51 Bn in 2019 and is expected to reach US$ 12.62 Bn by 2027, at a CAGR of 6.7 % during a forecast period.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Medical Alert System/Personal Emergency Response System market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, report also focus on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies and regional presence. The report also provide PEST analysis, PORTER’s analysis, SWOT analysis to address question of shareholders to prioritizing the efforts and investment in near future to emerging segment in Medical Alert System/Personal Emergency Response System market.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Personal emergency response systems (PERS), also refer as medical emergency response systems, allow users to call for help when in an emergency by pushing a button. It has three components a small radio transmitter, a console connected to the telephone, and an emergency response center that monitors calls. With the rapid increase in elderly population, there is a rising need for medical alert systems in residences. Furthermore, among the elderly people falls are one of the most common causes of injury. Medical alert systems are typically marketed with a wireless transmitter designed as a pendant, which can be activated in a medical emergency. Disabled and elderly people who do not live with their family are the major users of these emergency systems. Presently, the medical alert systems market is highly attractive due to rapidly aging population and increasing awareness among the people.
Increasing aging population across the globe, technological developments in healthcare wearables, healthcare reforms expected to favor growth of PERS market, increasing penetration of smartphones in healthcare, and constant innovations in technology are the major driving factor for the growth of the market in the forecast period. Whereas overall cost associated with the system is expected to hinder the market in the forecast period. Advancements in communication technologies, emerging markets create growth opportunities for PERS, and thriving healthcare market to create need for affordable medical alert devices are likely to be the opportunity for the market in the foreseen period.
Based on type, Mobile PERS systems was the largest segment in 2017 owing to wide utilization. The increasing advancements in personal safety monitoring technology have extended the market and provided home security dealers the opportunity to expand traditional security offerings. Declining use of landlines, which was the previous communication technology used in PERS units, is causing the widest reactive changes in the PERS industry, as companies have to reformulate the available communication technologies in their solutions.
Based on End-user, Home-based users held the largest share of the PERS market in 2017 and expected to dominant the market in the foreseen period. Home-based users have the highest share in the market which is about 64.6 % due to growing adoption rate and easy affordability. They also maintain the privacy by allowing them to remain in their own homes.
Geographically, North America is a develop market, followed by Asia Pacific. The demand in the area is high owing to the presence and development of end-use for the product. The region accounted for over 41.58% of the global market in 2017. Asia Pacific is a potential market due to the presences of developing countries such as China and India. Due to increase in expenditure of healthcare over the past few years will encourages peoples to opt for better and more reliable healthcare options.
The Scope of Global Medical Alert System/Personal Emergency Response System Market:
Global Medical Alert System/Personal Emergency Response System Market, by Type:
• Landline PERS
• Mobile PERS
o Wireless Emergency Response System
o Cellular Emergency Response System
o GPS-based Emergency Response System
• Standalone PERS
o Standalone Voice Communicator
o Wandering System
o R-cube/V-cube Monitoring System
Global Medical Alert System/Personal Emergency Response System Market, by End User:
• Home-based Users
• Senior Living Facilities
• Assisted Living Facilities
Global Medical Alert System/Personal Emergency Response System Market, by Region:
• North America
• Middle East & Africa
• Asia Pacific
• South America
Key Players Operating In Global Medical Alert System/Personal Emergency Response System Market:
• Koninklijke Philips N.V.
• ADT Corporation
• Tunstall Healthcare Group Ltd
• Valued Relationships, Inc.
• Medical Guardian LLC
• Nortek Security & Control LLC
• Legrand Assisted Living & Healthcare
• Alertone Services, LLC
• LifeStation, Inc.
• Bay Alarm Medical
• Guardian Alarm
• Connect America
• Life Alert Emergency Response, Inc.
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