Published : 25 June, 2018
According to the World Health Organization report, nearly 37.3 million are found falling owing to the health risk every year and these people require medical attention. Also, around 646,000 people die from falls across the globe each year. This trend is anticipated to continue and hence the need for medical alert systems is anticipated to grow further in near future. There is a rise in the integration of healthcare communication technologies including patient monitoring devices to personal communication devices such as smartphones and tablets. With technological advancements, the nursing staff and hospital administration have access to nurse call systems from remote mobile devices as well as office computers to get real-time monitoring data from patients.
Medical alert systems (MAS), also known as Personal Emergency Response System (PERS), are alarm systems designed to alert linked healthcare facilities in case of any medical hazard or injury requiring immediate medical attention. Medical alert systems are usually marketed with a wireless transmitter designed as a pendant, which can be activated in a medical emergency.
GLOBAL MEDICAL ALERT SYSTEM/ PERS MARKET was valued at USD 1.70 Billion in the year 2017. Global Medical Alert System/ PERS Market is further estimated to grow at a CAGR of 8.89% from 2017 to reach USD 2.80 Billion by the year 2023. North America region holds the highest market share in 2017. Asia Pacific market is considered as the fastest growing market in the projected period due to favorable regulations and policies in these regions. At a country level, developed markets like the U.S., European nations as well the emerging markets like China, Brazil, and India are further anticipated to grow at a steady pace in the next 5 years.
The Medical Alert System market is segmented on the basis of by type, by end users and by region. By end users, The Medical Alert System market is segmented as Home – Based Use, Nursing Home, Assisted Living Facilities and Hospices, of which Home – Based Use segment because of the growing popularity and availability of advanced technology devices and growing prevalence of elderly age holds the highest, market share.
Medical Alert System Industry by type covered in this report include Landline PERS, Mobile PERS, and Standalone PERS. Availability of technologically advanced medical alert systems, such as those enabled with W-Fi, GPS, BLE, and radio frequency, help caregivers in finding wandering elders. Mobile PERS hold the largest share of about XX% of the market and it is also the fastest growing with the CAGR of XX% in the forecasted period.
ADT Corporation (US), Koninklijke Philips N.V. (Netherlands), Tunstall Healthcare Group Ltd. (UK), Bay Alarm Medical (US) and Medical Guardian LLC (US) are some of the key manufacturers in the Global Medical Alert System Market with Novo Nordisk holding the substantial market.
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