Medical Alert System Market Size, Growth, Trends, Share and Analysis

Medical Alert System Market

Market Overview:

Increasing aging population, technological advances in healthcare wearables, increasing penetration of smartphones in healthcare and continuous technology innovations, and simple adaptability of PERS systems are the factors driving for the development of the medical alert system / personal emergency reaction system market. The market is anticipated to experience a growth during the forecast period due to the above-mentioned factors.

In the houses, there is an increasing need for medical alert systems with the fast rise in the elderly population. Personal emergency response systems PERS are designed to assist the elderly and individuals with disabilities in an emergency with ease. In most Western countries, they are also commonly adopted and used. Therefore, the elderly can age in the comfort of their own homes with the assistance of medical alert systems, and thus this factor is likely to stimulate the development of the general industry.

The present market is also growing as smartphones are widely being adopted. The worldwide penetration of the smartphone is estimated at an all-time high, so smartphones are essential in one’s daily lives, which is a significant factor in market growth.

In latest years, the wearable health industry has also erupted, and this trend is anticipated to develop quickly in the years to come. These wearables are used for monitoring people s health and well-being. Additionally, wearables technological advances can assist patients embrace medical devices in the coming years.

Report Portfolio:

According to scope of the report, Personal emergency response systems PERS , also known as medical emergency answer systems, enable customers to call for assistance during an emergency by pressing a button. As a result, there is an increasing need for medical alert systems owing to the fast rise in the elderly population.

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Key Market Trends: –

Mobile PERS Segment by Type is expected to grow the fastest:

PERS is estimated to be the largest segment during the forecast period, as these units have many benefits over traditional PERS units, including monitoring capacities through a multitude of techniques. They are also lightweight and long-lasting. They gain popularity as they enable senior citizens to lead a lifestyle that is more autonomous and healthy.

The growing demand for medical help, particularly for the elderly, has also led to the growing implementation of landline PERS, which is likely to result in the development of the market for the medical alert scheme over the forecast period.

Asia-Pacific Holds the fastest growth in the market and is expected to follow the same trend over the forecast period:

Asia-Pacific is estimated to be the fastest growing region in the general market over the forecast period, due to the growing geriatric population and the growing incidence of chronic illnesses. It is also anticipated that the need for better healthcare equipment and an increase in home-based health programs will drive the market. Increasing geriatric population and chronic diseases can therefore contribute to the development of the market for the medical alert scheme.

As a result, rising technological advances, increasing awareness among individuals, and growing investments from overseas players are anticipated to increase future development in this region in the market for medical alert systems.

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Competitive Landscape Report:

In order to improve their market share, key players focus on extending their product portfolios. Moreover, policies such as acquisitions and collaborations are being adopted. In the medical alert system industry, there are numerous firms including ADT Corporation, Bay Alarm Medical, Philips Lifeline, Life Alert Emergency Response Inc., VRI Inc., and many others that are leading players on the worldwide map.

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