Global Medical Alert/Personal Emergency Response System Market Expected to Reach US$ 13,689.8 Million by 2027, With a CAGR Of 7.4% | Growth Market Reports
PUNE, India, July 28, 2021 /PRNewswire/ -- According to a recent market study published by Growth Market Reports, titled, "Global Medical Alert/Personal Emergency Response System Market By Types (Home-based/Landline-based System, Mobile-PERS [Cellular Emergency Response System, Wireless Emergency Response System, and GPS-based Emergency Response System], Standalone PERS [Transmitter, Standalone Voice Communicator, Wandering System, and Cube-based Monitoring System], Nurse Call Systems (NCS), Ambulatory Auto Alert Systems, Automated Airborne Flight Alert System, and Smart Belt), Offering (Hardware [Console Unit, Transmitter, Wristband Transmitter, Pendant Transmitter, and Battery], Software, and Service), Connection Types (Wired and Wireless), Applications (Home-Based Users, Senior Living Facilities/Senior Care Centers, and Assisted Living Facilities), Technologies (Two-way Voice Systems, Unmonitored, Medical Alert Systems, Medical Alert Alarm (Button) System, IP-based systems, and Others), and 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.
Key Market Players Profiled in the Report
- 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
- Vanguard Wireless Pty Ltd
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
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This report also includes a complete analysis of industry players that cover their latest developments, product portfolio, pricing, mergers, acquisitions, and collaborations. Moreover, it provides crucial strategies that are helping them to expand their market share.
Highlights on the segments of the Medical Alert/Personal Emergency Response System Market
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 value, the Mobile-PERS segment is expected to expand at a CAGR of 8.2 % during the forecast period, owing to the digital transformation and the integration of technologies such as artificial intelligence (AI) and IoT in the mobile-PERS devices.
In terms of offerings, the market is segregated into hardware, software, and services. 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.
On the basis of connectivity, the global medical alert/personal emergency response system market is classified as wired and wireless. The wireless segment is anticipated to expand at a CAGR of 8.8%, in terms of value, during the forecast period, as the devices possess various advantages over the traditional system, which includes lightweight, portability, connectivity with mobile apps, and durability.
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. The home-based user segment is anticipated to expand at a CAGR of 6.9%, in terms of value, during the forecast period, due to the independence this system provides to the seniors living alone.
In terms of technologies, the market is segregated into two-way voice systems, unmonitored, medical alert alarm (button) systems, IP-based systems, and others. The two-way voice systems segment is expected to grow at a CAGR of 8.0% during the forecast period, due to growing aging population, as this system is ideal for the aging population and it does not take much time contacting family or friends or dialing an emergency number.
Based on regions, the global medical alert/personal emergency response system market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to hold a significant share of the market, due to the presence of various market players in the country. Growing aging population, increasing healthcare expenditure, and financial support provided by the government for senior citizens in North America are fueling the market in the region.
The market in Europe is projected to expand at a CAGR of 6.1% during the forecast period, owing to the increasing popularity of an independent lifestyle among senior citizens and growing healthcare spending in the region along with improvement in connectivity and communication technologies are driving the demand for the medical alert/personal emergency response system in Europe.
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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.
Read 288 Pages Research Report with Detailed ToC on "Global Medical Alert/Personal Emergency Response System Market By Types (Home-based/Landline-based System, Mobile-PERS [Cellular Emergency Response System, Wireless Emergency Response System, and GPS-based Emergency Response System], Standalone PERS [Transmitter, Standalone Voice Communicator, Wandering System, and Cube-based Monitoring System], Nurse Call Systems (NCS), Ambulatory Auto Alert Systems, Automated Airborne Flight Alert System, and Smart Belt), Offering (Hardware [Console Unit, Transmitter, Wristband Transmitter, Pendant Transmitter, and Battery], Software, and Service), Connection Types (Wired and Wireless), Applications (Home-Based Users, Senior Living Facilities/Senior Care Centers, and Assisted Living Facilities), Technologies (Two-way Voice Systems, Unmonitored, Medical Alert Systems, Medical Alert Alarm (Button) System, IP-based systems, and Others), and Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028"
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Key Segments Covered
By Types
- Home-based/Landline-based System
- Mobile-PERS
- Cellular Emergency Response System
- Wireless Emergency Response System
- GPS-based Emergency Response Systems
- Standalone PERS
- Transmitter
- Standalone Voice Communicator
- Wandering System
- Cube-based Systems
- Nurse Call Systems (NCS)
- Ambulatory Auto Alert Systems
- Automated Airborne Flight Alert System
- Smart Belt
By Offerings
- Hardware
- Console Unit
- Transmitter
- Wristband Transmitter
- Pendant Transmitter
- Battery
- Software
- Services
By Connection Types
- Wired
- Wireless
By Applications
- Home-Based Users
- Senior Living Facilities/Senior Care Centers
- Assisted Living Facilities
By Technologies
- Two-way Voice Systems
- Unmonitored
- Medical Alert Systems
- Medical Alert Alarm (Button) System
- IP-based systems
By Regions
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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