9th September 2019 – 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.
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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.
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