DUBLIN--(BUSINESS WIRE)--The "Medical Alert Systems Market by Connection (Wired, Wireless), End User (Home Based, Hospitals & Clinics, Senior Living Centers), System Type (Cellular PERS, Mobile PERS, Nurse Call Systems, Smart Wearable Belt), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The medical alert systems market is estimated to be worth USD 6.5 billion in 2020 and is expected to reach USD 9.6 billion by 2025, at a CAGR of 7.9% from 2020 to 2025.
Medical Alert Systems Market Anticipated Growing At CAGR Of 7.9% From 2020 To 2025
The global medical alert systems market exhibits a lucrative growth potential for the next several years. The major factors driving the growth of the medical alert systems market are rising elderly population, an inclination of senior adults towards independent living, increasing adoption of mobile personal emergency response systems, favorable healthcare reforms and financial assistance provided by the government.
The Market for Wireless Devices Estimated To Grow At The Highest CAGR During The Forecast Period
The adoption of wireless medical alert systems among senior citizens has been increasing and is expected to grow at the highest rate during the forecast period. The increase in adoption is due to the mobility it provides to the elders as it can be used from anywhere to get the emergency services. Moreover, the introduction of smart wearable devices is another major factor which is driving growth for the wireless medical alert systems market. The market is propelled by substantial investments in the R&D activities for the development of new advanced sensors for fall detection and the implementation of AI and IoT in the personal emergency response systems.
The Market for Home-Based Users Estimated To Grow at Highest CAGR During The Forecast Period
The home-based users form a major chunk of the medical alert systems market and are expected to grow at the highest CAGR during the forecast period. The elderly individuals suffering from diabetes, Chronic obstructive pulmonary disease (COPD), heart diseases are prone to falls which could lead to major injuries if not treated at the right time. The medical alert systems provide the elderly adult's independence at home and can avail of the emergency services whenever they need it. The other factor which could drive the growth of the medical alert systems market for home-based users is the affordability of these devices as compared to the in-person monitoring.
The Market For Smart Belts Is Estimated To Grow At The Highest CAGR During The Forecast Period
The smart belt market is expected to grow at the highest CAGR during the forecast period. The major factor contributing towards the growth of this segment includes the mobility aspect of the belt which provides convenience to the elderly citizens. These belts reduce the impact of falls which are common in elderly individuals which reduces the hospital admissions and severe injuries among the elders. The other factor driving this market is benefits to the senior citizen to maintain their active lifestyle and stay fit.
Medical alert systems market in the Asia Pacific to grow at the highest CAGR between 2020 and 2025
Major factors driving the medical alert systems market in the APAC are the rapidly growing elderly population, increased healthcare expenditure per capita and improving healthcare infrastructure in developing countries such as India and China. The healthcare reforms brought by the government to support healthcare services and increasing awareness towards healthcare are other factors contributing to the growth of the medical alert systems market in the Asia Pacific. The government in APAC countries such as Australia, China, and India have invested heavily in the healthcare infrastructure and the provision of basic health insurance for all of its citizens. Moreover, an increase in discretionary income and a population that is aging faster are the other crucial factors propelling the medical alert systems market in the Asia Pacific region.
Key Benefits of Buying This Report:
- This report includes the market statistics pertaining to system type, connection type, end-user, and region.
- An in-depth value chain analysis has been done to provide deep insight into the medical alert systems market.
- Major market drivers, restraints, challenges, and opportunities have been detailed in this report.
- Illustrative segmentation, analyses, and forecasts for the market based on system type, connection type, end-user, and region have been conducted to provide an overall view of the medical alert systems market.
- The report includes an in-depth analysis and ranking of key players.
Key Topics Covered:
1.1 Objectives of the Study
1.2 Report Description
1.3 Markets Covered
1.5 Market Scope
2 Research Methodology
2.2 Research Data
2.3 Market Size Estimation
2.4 Key Industry Insights
2.5 Research Assumptions
3 Executive Summary
4 Premium Insights
5 Market Overview
5.2 Evolution of Medical Alert Systems
5.3 Market Dynamics
5.4 Medical Alert Systems Market Structure and Regulations
6 Industry Trends
6.2 Value Chain Analysis
6.3 Industry Trends
7 Medical Alert Systems Market, By Offering
8 Medical Alert Systems Market, By Connection Type
9 Medical Alert Systems Market, By End Users
9.2 Home-Based Users
9.3 Senior Living Facilities/Senior Care Centers
9.4 Assisted Living Facilities
10 Medical Alert Systems Market, By System Type
10.2 Personal Emergency Response Systems
10.3 Nurse Call Systems
10.4 Ambulatory Auto Alert Systems
10.5 Automated Airborne Flight Alert System
10.6 Smart Belt
11 Medical Alert Systems Market, By Technology (Qualitative)
11.2 Two-way Voice Systems
11.3 Unmonitored Medical Alert Systems
11.4 Medical Alert Alarm (Button) System
11.5 IP based systems
12 Geographic Analysis
12.2 North America
12.3 South America
12.5 Asia Pacific
12.6 Rest of the World
13 Competitive Landscape
13.2 Market Rank Analysis
13.3 Competitive Scenario
13.4 Medical Alert Systems Market (Global): Competitive Leadership Mapping, 2019
13.5 Business Strategy Analysis
13.6 Product Portfolio Analysis
14 Company Profiles
14.2 Koninklijke Philips N.V
14.3 Connect America
14.4 Valued Relationships, Inc.
14.5 Guardian Alarm
14.6 Alertone Services LLC
14.7 ADT Corporation
14.8 Galaxy Medical Alert System
14.9 Mytrex, Inc. Dba Rescue Alert
14.11 First Alert Systems
14.12 Bay Alarm
14.14 Other Company
14.14.1 Great Call
14.14.2 Vital Connect
14.14.3 Rescue Alert
14.14.4 Life Station
14.14.5 Better Alerts
14.14.6 Response Now
14.14.7 Marigroup Oy
14.14.8 Vital Connect
14.14.9 Tango Technologies
For more information about this report visit https://www.researchandmarkets.com/r/enzk9s