The global Medical Alert Systems Market size is expected to reach USD 11.8 billion by 2030 from 7.0 USD billion in 2022 with a CAGR of 9.90% during 2022-2030.
Industry Overview:
Medical alert systems are also known as Personal Emergency Response Systems (PERS). Medical alert systems are the alarm devices used to give signals during emergencies. Medical alert systems are used widely in Nurse call systems, PERS, Ambulatory Auto Alert Systems, which provide safety to the patient. The medical alert systems are designed particularly for elderly people and for patients who are suffering from long-term disorders.
COVID-19 Impact on Medical Alert Systems Market:
The novel coronavirus (COVID-19) is caused by the (SARS-CoV-2) and the virus is declared as a pandemic, by the World Health Organization (WHO). The pandemic has affected almost all the sectors leaving a downfall over their businesses. As the nations have imposed a strict lockdown, all the businesses were shut down which has affected badly. The COVID-19 has affected many people especially older ones. The pandemic has created a positive effect on the medical alert systems.
Market Drivers:
Factors driving the medical alert systems market are rising elderly people with growing chronic disorders, growing adoption of medical alert devices to live independently. The governments are taking medical initiatives like beneficial healthcare reforms and budget support particularly for senior citizens. The rising awareness among the purchasers regarding the benefits associated with the technology accelerates the medical alert systems market growth. The increasing number of hospitals with the rising patient population along with the increasing number of emergency care services, and advanced technologies are fueling the medical alert systems market growth.
Market Restrains:
In the U.S. and Canada, restricted reimbursement policies obstruct the medical alert systems market growth. The growing occurrences of false alarms and less acceptance of technology in few seniors hinder the market.
MEDICAL ALERT SYSTEMS MARKET REPORT COVERAGE:
|
REPORT METRIC |
DETAILS |
|
Market Size Available |
2022 - 2030 |
|
Base Year |
2022 |
|
Forecast Period |
2023 - 2030 |
|
CAGR |
9.90% |
|
Segments Covered |
By System Type, Offering, Technology, Distribution Channel, Connection Type, Application, and Region |
|
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
|
Regional Scope |
North America, Europe, APAC, Latin America, Middle East & Africa |
|
Key Companies Profiled |
Philips (Netherlands), Medical Guardian (US), Connected America (US), ADT (US), Valued Relationships (US), Guardian Alarm (US), MobileHelp (US), Alert1 (US), Bay Alarm Medical (US), LifeFone (US). |
Segment Analysis:
The global Medical Alert Systems Market has is segmented and sub-segmented based on system type, offering, technology, distribution channel, connection type, and application.
Personal Emergency Response System (PERS)
Home-based/Landline-based System
Mobile PERS
Cellular Emergency Response System
Wireless Emergency Response System
GPS-based Emergency Response System
Nurse Calling System (NCS)
Button-based Systems
Integrated Communication Systems
Mobile Systems
Intercom Systems
Smart Belt
PERS segment and mobile PERS segment accounts to hold a major share. The M-PERS segment growth is due to the growing adoption of smartphones. The mPERS devices provide mobility to senior citizens by enabling them to have their individual life.
Hardware
Console Unit
Transmitter
Wristband Transmitter
Pendant Transmitter
Battery
Others(Subscription Revenue)
By offering, the hardware segment leads the medical alert systems market. The alert devices are worn like a wristband, around their neck like a pendant. Devices are generally with batteries, transmitters.
Two-way Voice Systems
Unmonitored Medical Alert Systems
Medical Alert Alarm (Button) System
IP-based Systems
By technology, two-way voice systems command over the medical alert systems market throughout the timeline period. The segment, two-way voice systems application is widely used in homes, clinics, and hospitals.
Pharmacies
Online Sales
Hypermarkets
The online sales distribution channel is estimated to lead the medical alerts system market. Most of them purchase the alert devices online which is easy to buy and easy availability of different models escalating the market growth.
Wired
Wireless
By connection type, wireless medical alert systems dominate the market growth globally. The growth depends on the increasing adoption of wireless systems owing to mobility and advancements in mobile personal emergency response systems and the rising adoption of smart devices like smartphones. The demand for wireless systems is boosting by older people as they maintain an active lifestyle preventing emergencies.
Home-Based users
Senior Living Facilities/Senior Care Centers
Assisted Living Facilities
Hospitals and Clinics
Others (Nursing Homes, Retirement Homes, Mental Healthcare Centers)
By application, the home-based user segment leads the medical alert systems market. The growing adoption of mobile and landline alert systems and the accessibility of technologically advanced devices drive the market growth further. The launch of smart medical alert systems with monitoring features and used by older adults suffering from diabetes COPD.
Medical Alert Systems Market - By Regional Analysis:
North America is accounted to hold the largest share in the medical alert systems market and is projected to continue its dominance across the region. The region's growth depends on esteemed healthcare infrastructure and advanced technologies and growing demand for augmented healthcare amenities. As per the Centers for Disease and Control (CDC), people aged 65 years old are one in three senior citizens are falling from bed in the U.S. every year. 20% to 30% of the people face severe injuries due to falls.
Europe is the second region after North America and is considered to have tremendous growth in the medical alert systems market. 20% of the population in countries like France, Germany, the UK, and Italy are above 65 years old. Geriatric people are more concerned and aware about their health resulting in increasing demand for medical alert systems in Europe.
However, Asia-Pacific is scheduled to be the quickest growing region during the forecast period. The region continues to have the same growth over the upcoming years. The growth owes to rising aged people, growing cases of chronic diseases, and developed healthcare facilities.
Latin America and the Middle East & African regions are at their nascent stage and are expected to have a cosiderable growth in the forthcoming years.
Medical Alert Systems Market - Key players
Some of the major players operating in the global medical alert systems market include
Philips (Netherlands)
Medical Guardian (US)
Connected America (US)
ADT (US)
Valued Relationships (US)
Guardian Alarm (US)
MobileHelp (US)
Alert1 (US)
Bay Alarm Medical (US)
LifeFone (US).
In 2018, three major companies ZTE, Wearsafe, and Qualcomm have united to combine personal security tracking systems with wearable devices. The association provides plenty of opportunities in the upcoming years.
In August 2019, a provider of M-PERS technology, MobileHelp, introduced novel designs to its Trelawear emergency response jewelry collection.
Notable Happenings in the global Medical Alert Systems Market
On July 06, 2021, Connected America LLC, completed its acquisition of the Ageing, and Caregiving business from Royal business. https://www.prnewswire.com/news-releases/connect-america-completes-acquisition-of-philips-aging-and-caregiving-business-301325286.html
On October 29, 2020, MobileHelp introduced a new product Micro. The new device provides wearable comfort with compact size and weight. https://www.prnewswire.com/news-releases/mobilehelp-introduces-the-micro-301163081.html
On June 29, 2021, Medical Guardian introduced a new personal emergency response system on collaborating with BLACK + DECKER. The launch is to support and promote mobility for elders. https://www.prnewswire.com/news-releases/medical-guardian-announces-collaboration-with-blackdecker-to-introduce-new-personal-emergency-response-systems-301322378.html
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