The global personal emergency response systems market is expected to increase at a healthy CAGR of over 8.0% over the forecast period from 2016 to 2024. Several disorders that are leading towards serious emergency situations and risks include rising prevalence of central nervous system (CNS) and the growing aging population. Among elderly population, major risks causing situations are increasing strokes and incidence of Alzheimer’s disease.
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According to an estimation by WHO, people who are suffering from Alzheimer’s disease aged between 65 to 85+ years. Also, from this disease, around twice as many women as men suffer. In the event of any emergency, PERS products like mobile applications, mobile devices, landline devices and standalone devices are used to alert emergency services and these devices have enough potential for mitigating adverse situations. They can be used for at home as well as in hospitals for saving the aged as well as physically challenged people from life-threatening circumstances.
The global market of personal emergency response systems has been segmented based on the region type, end user, and product. By region, the global market of personal emergency response systems will be dominated by North America during the forecast period. The driving factors include adoption of PERS as supportive tool for aided living conveniences, increase in geriatric population, increasing production of smartphones, and occurrence of chronic diseases. While the U.S. will be the largest market in this region.
By product type, the market segmentation of personal emergency response systems is done into mobile applications, landline, and mobile & standalone devices. And by the end of 2014, the segment of landline devices will dominate the market along with average growth rate of personal emergency response systems market over the forecast period. While the segment of mobile devices will be the most attractive one and is expected to register growth in revenue from 2016 to 2024.
By end user, the global market segmentation of PERS is done into hospitals, assisted living facilities, and home-based users. The segment of Home-based users will dominate the growth rate due to wide recognition of PERS like landline and mobile devices amongst the aged population who stay at home. Factors that are anticipated to fuel the market growth of personal emergency response systems during the forecast period include easy usability as well as portability of these devices and increase in the number of falls among the aging population.
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The major players in the market of personal emergency response systems are MobileHelp and Bay Alarm Company, ADT Security Services, Koninklijke Philips N.V, Medical Guardian LLC, and MariCare Oy.
Long-term Outlook: The global personal emergency response systems market is expected to increase at a healthy CAGR of over 8.0% over the forecast period from 2016to 2024.
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Summary: Global market study on Personal Emergency Response Systems (PERS). Increasing geriatric population and increasing prevalence of neurological disorders will drive market growth.
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