What is Medical Alert System Market?
Medical alert is an alarm system which is mainly developed for senior citizens or the patients suffering from long-term disabilities and it indicates the risk requiring urgent attention and for emergency medical personnel. The systems have a wireless pendant or transmitter that can be activated in an emergency. When the medical alarm is activated, the signal is conveyed to an alarm monitoring company’s central station, other emergency agency or other programmed phone numbers, then the medical personnel are send off to the site where the alarm was activated. Medical alert systems are devices such as necklaces, bracelets or watches and wristbands which are wearable.
The market study is being classified by Type (Monitored and Non-Monitored), by Application (Hospitals, Clinics, Old Age Homes, Home-Based Users, Senior Care Centers, Nursing Homes and Others) and major geographies with country level break-up.
Koninklijke Philips N.V. (Netherlands), Rauland-Borg (United States), Ascom Wireless Solutions (Sweden), ADT Corporation (United States), Tunstall Healthcare Group Ltd. (United Kingdom), Valued Relationships, Inc. (United States), Medical Guardian LLC (United States), CarelineUK Monitoring Limited (United Kingdom), Galaxy Medical Alert Systems Ltd. (Canada) and Life Alert Emergency Response, Inc. (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Legrand Assisted Living & Healthcare (United Kingdom) and Bay Alarm Medical (United States).
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail competitive advantage through combined collaborations. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Medical Alert System market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Medical Alert System market by Type, Application and Region.
On the basis of geography, the market of Medical Alert System has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Increasing Preference for Emergency Alert Consoles
- Growing demand for Medical Alert Systems in Nursing Homes and Old Age Care Facilities
- Increasing Penetration of Smartphones in Healthcare
Market Trend
- Increasing Consumer Awareness about Technology
- Increasing Aging Population
Restraints
- The Wearer Going Out of Range of the Base Unit
Opportunities
- Increasing Investments by Government for Healthcare Industry in Developing Countries
Challenges
- Malfunctions of the System that is Being Used
- The Unit Becoming Disconnected from the Phone Line
Aug. 7, 2018: Medical Guardian made a smartwatch for seniors. It provides a two-way communication system for emergency response, reminders for daily tasks like taking pills and local weather forecasts.
Key Target Audience
Manufacturers of Medical Alert System, Suppliers of Medical Alert System, Wholesalers, Distributers and Retailers of Medical Alert System, Healthcare Industry, Research Organizations, Governmental Bodies, Global Public Health Agencies, Long-Term Care Associations and Service Provider of Medical Alert System