Medical alert systems (MAS), commonly referred to as Personal Emergency Response Systems (PERS), are systems for giving alarm, created to notify associated healthcare facilities of any medical emergency or injury necessitating quick medical attention. Typically, medical alert systems are sold with a wireless transmitter shaped like a pendant that can be used in an emergency. The majority of persons who use these systems are elderly and disabled people who do not reside with their families. The market for medical alert systems is currently very appealing because of the constantly ageing population and rising public awareness.
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Increased demand for monitored systems_MI
The medical alert systems market worldwide, which consists of gadgets with various features and functions, determines the final cost of the finished good. The market has been divided into the following categories based on device type, technology, and end users:
- Type of medical alert systems:
- Standalone/Wall-Mounted Devices
- Medical alert system technologies:
- Two-way voice systems
- Medical Alert Alarm (Button) System
- Unmonitored medical alert systems
The only benefit of a non-monitored MAS is that, unlike a two-way voice system and a medical alert alarm (button) system, it does not require a monthly payment to the monitoring firm. On the other hand, the monitored MAS assists in contacting or alerting the health service provider more quickly than non-monitored systems, does not require upgrading non-monitored voice dialers, and speeds up the provision of emergency assistance.
- End users of medical alert systems:
- Senior care centers
- Nursing homes
- Old age homes
- Individual patients
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Rising consumer knowledge of technology and its many advantages is fostering a market environment that is highly favorable for expansion.
Few devices in the market of MAS (medical alert systems): Life Alert, Medical Alert, LifeStation, MobileHelp, Philips Lifeline, Bay Alarm Medical, Medical Guardian’s MAS, Alert1, and Rescue Alert.
Advanced Economies still to accomplish maturity for the market of MAS (medical alert systems)
The huge senior population in advanced economies including the United States, the U.K., Canada, Japan and Germany is known for adopting emergency alarm systems at a high rate. Furthermore, the market for medical alert systems is anticipated to expand further in developed nations due to the high prevalence rate of accidents caused by falls from beds and upper bunks. According to the Centers for Disease Control and Prevention (CDC), 20% to 30% of seniors 65 and older who fall from beds or upper bunks each year in the U.S. get significant injuries as a result of the fall. There is a lot of room for technological advancement in the medical alert system, but there are certain problems with the current models. For example, a customer who claims to have received unwanted calls on his cellphone through the Lifestation MSA device has filed a lawsuit against Lifestation, Inc. Additionally, the demand for this technology in the United States and Canada is being hampered by inadequate reimbursement.
Devices with wide-ranging features are a risk to standalone MAS devices
New gadgets with more functionality are being released. GoSafe, a new MAS gadget from Philips, offers an auto-alert fall detection feature as well as GPS tracking. Even Fitbit devices have medical alert systems in addition to their standard health tracking capabilities. Additionally, 911 Help Now, a device from Stealth Technologies, Inc., was released with no ongoing monthly fees. These gadgets pose a serious risk to independent MAS devices.
The rapidly ageing population, rising need for medical alert systems in nursing homes and senior living institutions, and rising preference for emergency alert consoles are all contributing to the market’s expected excellent rise. Pricing and product availability, however, would be key determinants of market growth.
The market for MAS (Medical alert systems) is fragmented
Globally, the market for MAS (medical alert systems) is extremely uneven, due to involvement of many recognized and evolving market players. The main companies operating in the market for medical alert system are AlertOne Services, LLC. Bay Alarm Medical, CarelineUK Monitoring Limited, Galaxy Medical Alert Systems, Ltd., Life Alert Emergency Response, Inc., LifeStation, Inc., and Koninklijke Philips N.V
To increase their market share, the major firms are concentrating on launching new products. For example, MobileHelp, a maker of M-PERS (Mobile-Personal Emergency Response System) technology, expanded its Trelawear emergency response jewellery line with additional designs in August 2019.
The Constant Companion, a new voice-activated tool and a network of Amazon Alexa devices, was accepted to test-pilot in July 2019 by Visiting Angels, a provider of home health care services situated in Eastern Idaho, United States. People who have already receive at-home nursing care can choose from options for companionship and security because the tool is pre-programmed to do so.
Medical alert systems are being used by large hospitals to enhance patient care. For example, as part of the NHS Long Term Plan released by NHS England in January 2019, three prestigious institutions in the U.K. are employing alerts to help identify sepsis.
Reasons to Purchase This Report
• Current and future of Medical Alert Systems (MAS) Market outlook in the developed and emerging markets
• The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period.
• Regions/countries that are expected to witness the fastest growth rates during the forecast period
• The latest developments, market shares, and strategies that are employed by the major market players
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The Medical Alert Systems (MAS) Market is displayed in 13 Chapters:
Chapter 1: Market Overview, Drivers, Restraints and Opportunities
Chapter 2: Market Competition by Manufacturers
Chapter 3: Production by Regions
Chapter 4: Consumption by Regions
Chapter 5: Production, By Types, Revenue and Market share by Types
Chapter 6: Consumption, By Applications, Market share (%) and Growth Rate by Applications
Chapter 7: Complete profiling and analysis of Manufacturers
Chapter 8: Manufacturing cost analysis, Raw materials analysis, Region-wise manufacturing expenses
Chapter 9: Industrial Chain, Sourcing Strategy and Downstream Buyers
Chapter 10: Marketing Strategy Analysis, Distributors/Traders
Chapter 11: Market Effect Factors Analysis
Chapter 12: Market Forecast
Chapter 13: Medical Alert Systems (MAS) Research Findings and Conclusion, Appendix, methodology and data source
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