Increasing aging population, improving healthcare infrastructure, and increasing need for medical alert systems in home care settings are key factors boosting global market growth
Increasing aging population, improving healthcare infrastructure, and increasing need for medical alert systems in home care settings are key factors boosting global market growth
The global medical alert systems market is expected to reach USD 15.82 Billion in 2030 and register a steady revenue CAGR of 9.8% over the forecast period, according to latest report published by Reports and Data. Key factors driving global market revenue growth are rising per capita income, favorable reimbursement scenarios, increasing prevalence of chronic disorders, and preference to be able live independently among senior citizens.
Life expectancy of people is gradually increasing due to rapid advancements in the medical field, rising inclination towards healthy lifestyle, shifting preference for healthy food products, and economic development. There has been a rapid increase in the elderly population across the globe over the years and is expected to increase by approximately 16% by 2050. However, these individuals are more prone to chronic illnesses and have higher risk of falling. Medical alert devices are alarm systems that provide emergency monitoring for elderly patients or patient with health issues and are rapidly gaining popularity over the recent past. These devices are usually worn on wrists or as pendants and aid in signaling healthcare experts or caregivers in case of falls, accidents, or sudden medical emergencies. Factors such as increasing adoption of live-saving tracking devices, preference towards independent living among seniors, and increasing adoption of Person Emergency Response Systems (PERS) are boosting market revenue growth. In addition, favorable government initiatives, and increasing investments to develop more advanced alert devices and systems are expected to boost market growth going ahead.
Access Free sample PDF Copy of the Report @ https://www.reportsanddata.com/sample-enquiry-form/347
Drivers, Restraints, and Opportunities
Personal emergency response systems, also known as medical alert systems, are designed to help the elderly, people with health issues, and those who live alone to obtain immediate assistance during an medical emergency, which drive revenue growth of the medical alert systems market. It act as vital life-saving tools, especially for the elderly people leaving alone. These alert systems also helps user to maintain medication timings throughout the day and offer an emotional benefit as well. Many medical alert systems include fall detection as a fundamental feature. After all, one of the leading causes of significant injury and hospitalization among seniors is trips, slips, and falls. Medical alert gadgets with intelligent sensors can detect when user has fallen and automatically call for aid.
Furthermore, growing awareness regarding the benefits of medical alert systems, development of healthcare equipment, and integration of Machine learning (ML), Internet of Things (IoT) Artificial Intelligence (AI) and other related technologies in medical devices are other factors fuel revenue growth of the market. For instance, advanced medical alert systems now include GPS technology that offer family members with real-time information on the device wearer’s whereabouts. This gives the user and their family peace of mind. However, low acceptance of alert devices, less awareness on how to operate such devices especially in remote areas are factors expected to restrain medical alert systems market revenue growth during the forecast period.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
To know more about the report @ https://www.reportsanddata.com/report-detail/medical-alert-systems-market
Person Emergency Response Systems (PERS) Segment to Lead in Terms of Revenue Share:
Person Emergency Response Systems (PERS) segment is expected to account for largest revenue share in the global market over the forecast period attributed to rising elderly population, increasing penetration internet, and rising individual’s preference for mobile-based wearable PERS. PERS is a technology that allows users to ask for assistance in an emergency by just pressing a button. It consists of three parts: a tiny radio transmitter (the gadget user carry), a console connected to user’s phone, and a call-monitoring emergency response center.
Home-based Users Segment to Register Significant Revenue Growth:
Home-based users segment is expected to register significant revenue growth over the forecast period due to rising need for emergency patient monitoring, increasing incidence of chronic diseases such as heart diseases, diabetes, Alzheimer’s diseases and growing popularity of technologically advanced wireless alert systems which is easy to use, highly affordable and improve patient lives at home.
North America to Register Robust Revenue Growth:
North America is expected to register robust revenue growth over the forecast period attributable to increasing investments in research and development activities on medical equipment, presence of well-established healthcare infrastructure, large scale adoption of life-saving devices in clinics and hospitals, and presence of key players in the region.
Asia Pacific Accounted for Largest Revenue Share in 2020:
Asia Pacific accounted for largest revenue share in the global market in 2020 attributable to increasing prevalence of chronic diseases and rising need for continuous patient monitoring. In addition, rapid advancements in alert systems and growing popularity of wearable medical devices, in APAC countries such as India, Malaysia, and China are some other factors expected to support revenue growth of the Asia Pacific market.
Major Companies in the Market Include:
- Philips Lifeline
- ADT Inc.
- Tunstall Healthcare Group Ltd
- Greatcall, Alert-1
- Connect America
- Bay Alarm Medical
- Life Alert Emergency Response, Inc.
- Rescue Alert
- Mobile Help
- Medical Guardian LLC
- LifeStation
- Galaxy Medical Alert Systems
- LifeFone
- Guardian Alarm
- Better Alerts
- Valued Relationships, Inc.
- Nortek Security & Control LLC
- Legrand Assisted Living & Healthcare
- Response Now
- Vanguard Wireless
Buy Premium Research Report @ https://www.reportsanddata.com/checkout-form/347
Market Segmentation:
For the purpose of this report, Reports and Data has segmented global medical alert systems market on the basis of type, offering, connection type, end use and region:
Type Outlook (Revenue, USD Billion; 2019-2030)
- Personal Emergency Response System (PERS)
- Home-based/Landline-based System
- Mobile PERS
- Cellular Emergency Response System
- Wireless Emergency Response System
- GPS-based Emergency Response System
- Nurse Calling System (NCS)
- Button-based Systems
- Integrated Communication Systems
- Mobile Systems
- Intercom Systems
- Smart Belt
Offering Outlook (Revenue, USD Billion; 2019-2030)
- Hardware
- Console Unit
- Transmitter
- Wristband Transmitter
- Pendant Transmitter
- Battery
- Others
- Services
- Software
Connection Type Outlook (Revenue, USD Billion; 2019-2030)
- Wired
- Wireless
End Use Outlook (Revenue, USD Billion; 2019-2030)
- Home-based Users
- Senior Living Facilities/Senior Care Centers
- Assisted Living Facilities
- Hospitals and Clinics
- Others
- Nursing Homes
- Retirement Homes
- Mental Healthcare Centers
Ask for Customize Research Report @ https://www.reportsanddata.com/request-customization-form/347
Regional Outlook (Revenue, USD Billion, 2019-2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Israel
- Rest of MEA
Explore Latest Trending Research Reports By Reports and Data’s
Pediatric Radiology Market By Modality (Ultrasound, MRI, X-Ray, Computed Tomography), By End-use (Hospitals, Pediatric Clinics, Diagnostic Centers, Other), and By Region Forecast to 2028
Acute Repetitive Seizures Market , By Product Type (USL-261, NRL-1, AZ-002, Diastat Rectal Gel, Others), By End-use (Healthcare & Pharmaceuticals, Biotechnology, and Others), and By Region Forecast to 2028
Algae Supplements Market s, Beauty & Health Stores), By Application (Nutraceuticals & Dietary Supplements, Pharmaceuticals, Personal Care Products), and By Region Forecast to 2028
Clostridium Diagnostics Market By Product Type (Molecular Diagnostics, Immunoassays), By Application (Hospitals, Clinics, Independent Laboratories, Others), By Region:
DNA Testing Machine Market , By Product Type (Small Scale DNA Testing Machine, Medium Scale DNA Testing Machine, Large Scale DNA Testing Machine), By End-use (Clinic, Hospital, Laboratory, Others), and By Region Forecast to 2028
Interventional Neurology Device Market , By Product (Aneurysm Coiling & Embolization Devices, Cerebral Balloon Angioplasty & Stenting Systems, Support Devices, Neurothrombectomy Devices), By Disease Pathology (Ischemic Strokes, Cerebral Aneurysm, Carotid Artery Stenosis, Arteriovenous Malformations & Fistulas), By End, By Region, Forecast to 2028
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Contact Us:
John W
Head of Business Development
Reports And Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com
LinkedIn | Twitter | Blogs
Read Latest Press Release @ https://www.reportsanddata.com/press-release/global-medical-alert-systems-market