The Medical Alert Systems Market is expected to reach $27,600 million by 2023 at a CAGR of 6.3%
North America dominates the Medical Alert Systems Market
North America will dominate the Medical Alert Systems during the forecast period. It is expected to reach $ 10025.21 million by 2023 at a CAGR of 5.2%. In this region, reimbursement policies and Government regulations will drive the growth of the home healthcare sector, which in turn enhances the demand for the medical alert necklace in North America. Asia Pacific will be the fastest growing region in the coming years due to the growing home healthcare segment and government expenses on healthcare infrastructure. The ageing population is another factor which spurs the growth of medical alert bracelet in Asia Pacific.
Selected Analysis done in the full Report:
The PERS (Personal Emergency Response Systems) segment in 2017 reached revenue of $7,496 million. It will generate revenue of $10,514 million by 2023 at a CAGR of 5.8 %. PERS devices help users to ensure their personal safety and lead an independent life without depending on professional care. The increasing demand for mobility and technological advancements spur the growth of the PERS which drive the market. The landline based devices had the largest share in the PERS segment.
Excerpts on Market Growth Factors
- Growth of the ageing population will drive the demand for medical alert devices during the forecast period.
- The increasing costs of the in hospital care enhances the demand for home healthcare devices.
- Reimbursement policies boost the growth of the medical alert systems.
- Growing use of smartphones drives the demand for medical alarm systems.
Key players of the Medical Alert Systems Market
Philips Lifeline, Life Alert Emergency Response Inc., Connect America dominates the Medical Alert Systems Market. Philips Lifeline has manufactured two new products namely The HomeSafe Wireless PERS and GoSafe medical alert system. The other important products launched by the company include SecurusInc.’s eRespondermPERS and Bay Alarm Medical’s cellular medical alert system. Life Alert Emergency Response Inc provides personal emergency response and home medical alert systems. Connect America provides emergency alert products for the ageing population.
- Personal Emergency Response Systems (PERS) Market: By Device (Landline-based PERS, Mobile PERS and Standalone Devices); By End-User (Home-based, Senior Living Facilities and Assisted Living Facilities); By Components (Smoke Detectors, Fall Detection Sensors, Flood Detectors, Bed Sensors, Pull-Cord Residential); By Geography - Forecast(2018-2023)
- Nurse Call Systems (NCS) Market: By Mode (wired Systems and wireless Systems); By Equipment (Button systems, Intercom systems, Mobile systems and Integrated communication systems); By Application (Emergency Medical Alarms, wanderer control, Workflow support and Others ) By End Users (Hospitals, Ambulatory care centers, Clinics, Medical Assisted Living Centers and Nursing homes); By Geography - Forecast(2018-2023)