The global Personal Emergency Response System/Medical Alert System market size is expected to value at USD11.1 billion by 2025. The market is subject to witness a substantial growth due to the rise in occurrence of Alzheimer’s disease and higher life expectancy. Additionally, numerous joint ventures and acquisitions by industry players are anticipated to boost growth of the industry.Globally, the personal emergency response system (PERS) market is predicted to grow at CAGR of 5.8% in forecast period, providing numerous opportunity for market players to invest for research and development in the market.
Furthermore, the rise in prevalence of critical injuries during falls in elderly population between age of fifty to eighty years are substantially contributing to the demand of medical alert system market in recent years. Additionally, increasing number of patients suffering from diseases such as epilepsy, Alzheimer, Parkinson, and multiple sclerosis are escalating demand for personal emergency response system (PERS). Such diseases are caused due to risks associated with falling. With recent technological advancement involving wireless communication technologies such as W-Fi, GPS, Bluetooth LE, and radio frequency are aggravating demand for medical alert system among elderly population.
Adoption of personal emergency response system (PERS) alongside mobile communication technologies allows monitoring of patients at home from a remote location. Thus, giving feel of safety for patient and their relatives while performing regular tasks. In-built automatic fall detection system quickly informs healthcare professionals or caretaker in case of emergency. Increasing adoption of IoT technology in healthcare sector is one of the key driver for sustained growth of the personal emergency response system/medical alert system industry in recent years. Subsequently, increase in the awareness programs by private players about medical alert systems are boosting sales of these equipment.
Mobile personal emergency response system is one of the fastest growing segment in the personal emergency response system/medical alert system market with highest revenue generation over last couple of years. Growth of the mobile personal emergency response system market segment is attributed to its rising popularity among consumers. Also, increasing use of smartphones across the globe are likely boost sales of the mobile personal emergency response system in coming years. Similarly, standalone devices have shown substantial growth since last few years due to improved accessibility, compact size, and cost-effectiveness.
Personal emergency response system, also widely known as medical alert system is set devices that monitors patient activities, provides detailed report to healthcare professional, and an emergency button. The Personal emergency response systems commonly consist of three major electronic components including a compact radio transmitter, a console panel linked to communication channel and an emergency response system that monitors calls.
Transmitters are light in weight and battery powered devices that are typically placed on either patient neck or tied around a wrist band. As soon as emergency button is pressed by patients, a signal is sent to the console that automatically dials multiple number of contact emergency number, which are already stored by patient.
The personal emergency response system/medical alert system industry is divided into regional market segment such as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the adoption of latest technologies and existence of well-established healthcare infrastructure.
Asia-Pacific region is predicted to hold major market share in the personal emergency response system/medical alert system market with massive growth in forecast period. Countries such as India, China and Japan are leading the Asia-Pacific market with rise in geriatric population, increase in the occurrence of chronic diseases and improved healthcare facilities. The key players in the personal emergency response system/medical alert system industry are Philips N.V., ADT Security Services Co., Bay Alarm Medical, VRI Incorporations, Life Alert Emergency Response Incorporations, Tunstall; Medical Guardian Company, AlertOne Services LLC., and Nortek Security and Control LLC.
Type Outlook (Revenue, USD billion, 2014 - 2025)
• Landline PERS
• Mobile PERS
• Standalone PERS
End-use Outlook (Revenue, USD billion, 2014 - 2025)
• Home-based Users
• Nursing Homes
• Assisted Living Facilities
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