New York, October 30, 2021 –The global medical alert systems market is expected to reach USD 13.43 Billion in 2028 and register a steady revenue CAGR of 10.1% over the forecast period, according to latest report published by Reports and Data. Key factors driving global market revenue growth are increasing focus on developing enhanced medical alert systems, improving healthcare infrastructure, and rising demand for advanced Personal Emergency Response Systems (PERSs) in hospitals, clinics, and nursing homes.
Advancements in medical technology, lifestyle changes, and rapid economic growth has resulted in a steady increase in the life expectancy of people across the globe. Around 727 Million people above 65 years of age were reported in 2020 and share of the population is expected to increase by 16 percent by 2050. However, elderly people suffer from various chronic diseases and need emergency monitoring as they are more prone to sudden falls or medical emergencies. Medical alert systems are highly reliable and provide instant monitoring to patients during falls or medical emergencies. These systems have press buttons that are usually worn as pendants or around the wrist which send immediate signals to medical operators in case of an accident, fall, or sudden medical emergency. Factors such as technological development in emergency monitoring systems, rising demand for mobile medical alert systems, increasing per capita income, and rising healthcare expenditure are boosting market growth.
Growing global geriatric population, increasing adoption of emergency monitoring services among home users, and rising incidence of chronic diseases are key factors driving global market growth
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However, factors such as unawareness about medical alert devices in remote places, low acceptance of modern technology, and technical glitches such as run-down battery, malfunctioning of automatic fall detection feature, loss of phone services, and problems associated with user compliance are factors that could hamper global market growth to some extent over the forecast period.
Some key highlights of the report:
- Based on type, the Nurse Calling Systems (NCS) segment is expected to register rapid revenue CAGR between 2021 and 2028 owing to rising incidence of emergency of falls and accidents among aging population, and rising adoption of NCS in all medical centers.
- Based on offering, the hardware segment is expected to account for largest revenue share over the forecast period owing to high usage of hardware units such as console units, wristband and pendant transmitters in various medical alerts used in hospitals, clinics, and home care settings.
- Based on end use, the hospitals and clinics segment is expected to register fastest revenue CAGR over the forecast period owing to rising healthcare expenditure, improving healthcare infrastructure, high usage of alert systems to monitor patients with neurological disorders, high demand for alert devices with fall detection feature.
- The medical alert systems market in Asia Pacific is expected to register rapid revenue CAGR of 6.3% over the forecast period owing to rising aging population, expanding healthcare budgets, increasing prevalence of chronic diseases, and increasing research-based activities to develop enhanced medical alert products. In addition, increasing government initiatives, favorable reimbursement schemes, rising disposable income, and increasing adoption of wearable alert devices are supporting Asia Pacific market growth.
- Europe is expected to account for significant revenue share during the forecast period owing to availability of advanced medical alert systems in hospitals, clinics, and home care settings, presence of well-established healthcare infrastructure, high healthcare spending, and rising awareness about these devices among the elderly population.
- Philips Lifeline, ADT Inc., Tunstall Healthcare Group Ltd, Greatcall, Alert-1, Connect America, Bay Alarm Medical, Life Alert Emergency Response, Inc., Rescue Alert, Mobile Help, Medical Guardian LLC, LifeStation, Galaxy Medical Alert Systems, LifeFone, Guardian Alarm, Better Alerts, Valued Relationships, Inc., Nortek Security & Control LLC, Legrand Assisted Living & Healthcare, Response Now, and Vanguard Wireless are key players profiled in the global medical alert systems market report.
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For the purpose of this report, Reports and Data has segmented the global medical alert systems market on the basis of type, offering, connection type, end use and region:
Type Outlook (Revenue, USD Billion; 2018-2028)
- 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
Offering Outlook (Revenue, USD Billion; 2018-2028)
- Console Unit
- Wristband Transmitter
- Pendant Transmitter
Connection Type Outlook (Revenue, USD Billion; 2018-2028)
End Use Outlook (Revenue, USD Billion; 2018-2028)
- Home-based Users
- Senior Living Facilities/Senior Care Centers
- Assisted Living Facilities
- Hospitals and Clinics
- Nursing Homes
- Retirement Homes
- Mental Healthcare Centers
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Regional Outlook (Revenue, USD Billion, 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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