About Medical Alert Systems
Medical Alert System is a device that is used to call for assistance by healthcare personnel or individuals in time of any emergency, through a panic button in the form of an accessory or a wristband worn by the user. It includes any products such as Personal Emergency Response Systems (PERS), Nurse Call Systems (NCS), Ambulatory Auto Alert Systems and Automated Airborne Flight Alert System and many more. For example, it is seen that in the United States the size of the medical alert system (personal emergency response system (PERS)) market in 2019 was estimated to be approximately 3.3 billion USD. Of this amount, mobile PERs were estimated to account for the largest share of this market, with an approx. value of 1.9 billion dollars. Thus enhancing the need for medical treatment at a given particular time, hence enhancing the market demands.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
CAGR | 6.5% |
The global market for Medical Alert Systems is highly fragmented with the major number of key players. Hence the competition among the key players has made this market very competitive in nature. Owing to the innovative product launch or collaborations. For example, in 2018, companies such as ZTE, Qualcomm, and Wearsafe have partnered in order to integrate personal security tracking systems to wearable devices. This partnership is anticipated to provide a major amount of opportunities in the near future.The Players having a strong hold in the market are Koninklijke Philips N.V. (Netherlands) ADT Corporation (United States) Medical Guardian LLC (United States). Analyst at AMA Research estimates that Global Players will contribute the maximum growth to Global Medical Alert Systems market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Koninklijke Philips N.V. (Netherlands), ADT Corporation (United States), Tunstall Healthcare Group Ltd. (United Kingdom), Valued Relationships, Inc. (United States), Medical Guardian LLC (United States), Nortek Security & Control LLC. (United States), Legrand Assisted Living & Healthcare (United Kingdom), Alertone Services, LLC (United States), LifeStation, Inc. (United States) and Bay Alarm Medical (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are LifeFone (United States), GreatCall (United States), Guardian Alarm (United States), Connect America (United States), Life Alert Emergency Response, Inc. (United States) and MobileHelp (United States).
Segmentation Overview
AMA Research has segmented the market of Global Medical Alert Systems market by Type (Landline Type, Mobile Type (Wireless Emergency Response System, Cellular Emergency Response System, GPS-based and Emergency Response System) and Standalone Type (Transmitters, Standalone Voice Communicator, Wandering System, and R-cube/V-cube Monitoring System)), Application (Inside the Home and Outside the Home) and Region.
On the basis of Type, Landline Type are dominating the market in the year 2023 where as Mobile Type stood as second largest market share.
On the basis of application, Inside the Home segment is dominating the market in the year 2023 where as Outside the Home segment stood as second largest market .On the basis of geography, the market of Medical Alert Systems 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). North America region held largest market share in the year 2023. If we see Market by System Type, the sub-segment i.e. Rescue Alert will boost the Medical Alert Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Medical Devices, the sub-segment i.e. Personal Emergency Response Systems (PERS) will boost the Medical Alert Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End-use, the sub-segment i.e. Home-based Users will boost the Medical Alert Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
According to the World Health Organization report, approximately 37.3 million are found falling owing to the health risk every year and thus require medical attention. Moreover, across 646,000 people die from falls around the globe each year. This trend is anticipated to continue and hence the need for medical alert systems that are coupled with the best technologically advanced sensors. Thus anticipated to grow further in the near future.
Market Growth Drivers:
The aging of the population is one of the major drivers in this market, and hence according to a study, 50% of seniors aged 80 years and 30% of seniors aged 65 fall sick every year. Furthermore, those suffering from diseases such as epilepsy, Parkinson’s, multiple sclerosis, and muscular dystrophy, are at a higher risk of falling. Hence driving the market demand.
Challenges:
False Alarm Decreasing the Efficiency of PERS and Lack of Awareness among Developing Nations
Restraints:
Overall Cost Associated With the System is Expected to Impact the Adoption of these Devices and Low Practicability and Acceptability of the Technology Among Senior Citizens
Opportunities:
The growing incidence of Alzheimer’s disease coupled with rising life expectancy is estimated to boost the market. Moreover, an increasing number of mergers and acquisitions by market players are also expected to grow the demand.
Market Leaders and their expansionary development strategies
In 2023, Samsung Electronics America and MobileHelp have entered into a collaboration for the integration of personal emergency response capabilities to Samsung Gear S3 smartwatches.
In August 2020, TruSense has combined wireless sensors such as Amazon’s Echo Dot, and GPS technology to track patients' daily activities and health statistics. Moreover, they also send data to family members and healthcare professionals. These smart sensors keep a track of the health statistics and indicate the shift in health statistics and send alerts to healthcare professionals, unlike conventional emergency response systems.
Key Target Audience
Research organizations, Technology standard organizations, forums, alliances, and associations, Global medical disaster committee, Hospital and long-term care associations, Global public health agencies, Original device manufacturers (ODMs), Component suppliers and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.