Personal Emergency Response Systems Market
A Personal Emergency Response System is a device that enables high-risk individuals to contact a helpline in case of an emergency. The PERS is worn by the user and connects electronically to the person’s phone. A personal emergency response system is a wearable medical device that allows to contact a monitoring center through a button. These systems are particularly useful for elderly and disabled people, as they can help them summon help without having to dial a number. The system may also be useful for those with physical challenges, as it can be used by caregivers to make sure a loved one is safe. These systems are becoming increasingly popular in the workplace because they can increase safety and peace of mind for those who care for senior citizens and those with special needs.
Statistics:
The global personal emergency response systems market is estimated to account for US$ 8,410.1 Mn in terms of value by the end of 2027.
Global Personal Emergency Response Systems Market: Drivers
According to the World Health Organization, geriatric population is expected to reach 2 billion by 2050, up from 900 million in 2015. Such rice in aging population is driving growth of the global personal emergency response systems market.
Additionally, Growing healthcare expenditure is again projected to uplift growth of the market. For instance, according to the Centers for Medicare & Medicaid Services (CMS), health spending in the U.S. is projected to grow at an average rate of 5.5 percent per year for 2018-27 and to reach nearly US$ 6.0 trillion by 2027.
North America region held leading position in the global personal emergency response systems market in 2019, accounting for 47.7% share in terms of value, followed by Europe.
𝐓𝐨 𝐆𝐞𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐰𝐢𝐭𝐡 𝐋𝐚𝐭𝐞𝐬𝐭 𝐂𝐨𝐯𝐢𝐝𝟏𝟗 𝐈𝐦𝐩𝐚𝐜𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 @ https://www.coherentmarketinsights.com/insight/request-sample/3664
Global Personal Emergency Response Systems Market: Restraints
PERS is subscription-based, which may be monthly, quarterly or annual. The cost of the system ranges from US$ 600 to US$ 750. Thus, high cost of PERSs and services restricting growth of the global personal emergency response systems market.
Additionally, low adoption of PERS in emerging economies is also expected to limit growth of the market.
Global Personal Emergency Response Systems Market: Opportunities
R&D in fall detection is projected to provide profitable growth opportunities for players in the market. For instance, in February 2020, researchers from Shandong University, China, reported use of impulse–radio ultra-wideband monostatic radar and development of a learning model that combines convolutional layers and convolutional long short term memory to extract robust spatiotemporal features for fall detection.
Moreover, rising adoption of wearable technologies is further expected to support growth of the market. For instance, companies such as Samsung and Apple offer digital watches with fall detection.
Mobile Devices segment in the global personal emergency response systems market was valued at US$ 1,350.6 Mn in 2019 and is expected to reach US$ 3,113.0 Mn by 2027 at a CAGR of 11.0% during the forecast period.
𝐓𝐨 𝐆𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐏𝐃𝐅 𝐁𝐫𝐨𝐜𝐡𝐮𝐫𝐞 𝐇𝐞𝐫𝐞 @ https://www.coherentmarketinsights.com/insight/request-pdf/3664
Market Trends/Key Takeaways
Growing adoption of telecare is projected to create conducive environment for market growth. For instance, in April 2019, Doctor on Demand, a U.S.-based telemedicine provider, signed a partnership with Humana to create a new health plan that is focused on virtual primary care.
In Europe, market players are engaged in offering GPS-enabled PERSs. For example, AHS Monitoring Ltd. offers GPS-enabled security systems in Europe.
Global Personal Emergency Response Systems Market: Competitive Landscape
Key players operating in the global personal emergency response systems market include, Koninklijke Philips N.V., LifeWatch Services, Inc., Tunstall Healthcare, ADT LLC, Medical Guardian LLC, MobileHelp, and Bay Alarm Company.
Global Personal Emergency Response Systems Market: Key Developments
Key players are focused on adopting partnership strategies to expand their product portfolio. For instance, in November 2019, MobileHelp, a provider of mobile PERS, announced it is integrating its user and caregiver capabilities with Amazon’s Alexa platform.
Similarly, in July 2019, Tunstall Healthcare, the U.K.-based provider of digital health and connected care solutions and services, partnered with Telefónica Empresas, a telecommunications operator, for the provision of solutions and services for remote patient management in Spain.
𝐁𝐮𝐲 𝐍𝐨𝐰 𝐚𝐧𝐝 𝐆𝐞𝐭 𝐅𝐥𝐚𝐭 𝐔𝐒𝐃 𝟐𝟎𝟎𝟎 𝐎𝐅𝐅
𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐓𝐡𝐢𝐬 𝐏𝐫𝐞𝐦𝐢𝐮𝐦 𝐑𝐞𝐩𝐨𝐫𝐭 𝐓𝐨 𝐀𝐜𝐜𝐞𝐬𝐬 𝐅𝐮𝐥𝐥 𝐈𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 @ https://www.coherentmarketinsights.com/promo/buynow/3664
Table of Contents
- Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Product
- Market Snippet, By End User
- Market Snippet, By Region
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Impact Analysis
- Key Highlights
- Product launch
- PEST Analysis
- Regulatory Scenario
- Mergers and Acquisitions
- Market Dynamics
- Global Personal Emergency Response Systems Market, By Product, 2019 – 2027, (US$ Mn)
- Introduction
- Market Share Analysis, 2019 and 2027 (%)
- Y-o-Y Growth Analysis, 2017 – 2027
- Segment Trends
- Landline Devices
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Mobile Devices
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Standalone Devices
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Mobile Apps
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Introduction
- Global Personal Emergency Response Systems Market, By End User, 2019 – 2027, (US$ Mn)
- Introduction
- Market Share Analysis, 2019 and 2027 (%)
- Y-o-Y Growth Analysis, 2017 – 2027
- Segment Trends
- Home Based Users
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Assisted Living Facilities
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Hospitals
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Introduction
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