According to a recent market study published by Growth Market Reports, titled, “Global Medical Alert/Personal Emergency Response System Market - by types, by offerings, by connection types, by applications, by technologies, and by Regions: Size, Share, Trends and Opportunity Analysis, 2017-2027”, the market was valued at US$ 8,299.9 Million in 2020 and is expected to grow at a moderate growth rate of 7.4% by the year 2027. The increasing prevalence of diseases among adults, growing healthcare IT industry, and technological innovations in healthcare wearable is expected to fuel the market growth during the forecast period.

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The medical alert/personal emergency response system includes devices, software, and services integrated in a way that could cater to the people in need of immediate medical attention. Medical alert/personal emergency response system are significantly used among elderly consumer demographics. The global medical alert/personal emergency response system market is fragmented based on types, offerings, connection types, applications, technologies, and regions. On the basis of types, the medical alert/personal emergency response system market is segmented into home-based/landline-based system, mobile-PERS, standalone PERS, nurse call systems (NCS), ambulatory auto alert systems, automated airborne flight alert system, and smart belt. In terms of offerings, the market is segregated into hardware, software, and services. On the basis of connectivity, the global medical alert/personal emergency response system market is classified as wired and wireless. Based on applications, the medical alert/personal emergency response system market is divided into home-based users, senior living facilities/senior care centers, and assisted living facilities. In terms of technologies, the market is segregated into two-way voice systems, unmonitored, medical alert alarm (button) systems, IP-based systems, and others. Based on regions the global medical alert/personal emergency response system market has been fragmented into Europe, North America, Asia Pacific, Latin America, and Middle East & Africa.

The medical alert/personal emergency response system market is projected to witness a slight increase in Year-on-year growth for 2020 as compared to for previous year 2019. Increasing customer focus on health and adoption of health monitoring systems in 2020 is supporting growth of the market in 2020. The medical alert/personal emergency response system market is growing at a significant pace due to increasing inclination of ageing population toward home healthcare devices across the globe.

As per Growth Market Reports industry analyst Rajas Shirwalkar, “The global medical alert/personal emergency response system market is anticipated to witness moderate growth during forecast period 2020-2027. The medical alert/personal emergency response system market is registering growth opportunities across the globe, owing to the increasing demand for smart devices and stylish products. Factors such as Increasing prevalence of diseases among adults, growing healthcare it industry, and technological innovations in healthcare wearable are expected to drive the demand for medical alert/personal emergency response system.”

The Coronavirus disease 2019 (COVID-19) pandemic has highlighted economic disparities in the global demand in the crises of global interdependence and governance challenges. Epidemics are isolated concerns for businesses and prospects for emerging patterns and vulnerabilities. According to the current pandemic situation, strict measures are required for monitoring the situation, which in turn, affect businesses causing unanticipated short and long-term effects. Consequently, epidemics and pandemics are problems for individual market and an enhancement of existing dynamics and limitations. In the long-term, COVID-19 can serve as another opportunity for manufacturers to reconsider their commitment to the supply chain in regions prone to outbreaks and to reconfigure themselves regionally.

Key Takeaways from the Study:

  • The players including BillerudKorsnas AB, Segezha Group, Nordic Paper, and Mondi plc hold significant share of global medical alert/personal emergency response system market in year 2019.
  • North America is a promising region for the market. The market in this region is expected to grow in the coming years owing to the presence of various market players in the region.
  • In terms of value, the hardware segment is expected to grow at a CAGR of 7.1% during the forecast period, as it is easy to use and does not require any prior medical knowledge.
  • In terms of value, the wireless segment is anticipated to expand at a considerable CAGR, during the forecast period, as the devices possess various advantages over the traditional system, which includes lightweight, portability, connectivity with mobile apps, and durability.

Report Scope:

Report Metric

Details

Market Value in 2019

US$ 7,732 Million

Market Growth Rate (from 2020 to 2027)

7.4%

Historical Data

2017, & 2018

Base Year

2019

Forecast Period

2020 - 2027

Units Considered

Value (US$ Million)

Market Segments

By types, by offerings, by connection types, by applications, by technologies, and by Regions

Regional Scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Key Companies Profiled

Bay Alarm Medical Connect America, Galaxy Medical Alert Systems, Koninklijke Philips N.V., LifeFone Medical Alert Services, LifeStation, Inc, Medical Guardian, LLP, MobileHelp, ResponseNow Medical Alert Systems, and Vanguard Wireless Pty Ltd.

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

Target Audience:

  • Supply-side: Manufacturers, raw material suppliers, and distributors
  • Demand Side: Healthcare industries and aging population
  • Regulatory Side: Concerned government authorities, and other regulatory bodies.