DUBLIN--(BUSINESS WIRE)--The "Global Medical Alert Systems Market, By Connection (Wired, Wireless), By Type (Landline, Mobile, Standalone), By End-user (Home Based Users, Hospitals & Clinics, Nursing Homes, Assisted Living Facilities), By Region, Competition, Forecast & Opportunities, 2025" report has been added to ResearchAndMarkets.com's offering.
The Global Medical Alert Systems Market is forecast to witness a CAGR of 14% to grow from an estimated $6 billion in 2020 to $11.7 billion by 2025.
Robust growth in the market is anticipated predominantly on account of rising elderly population across the globe. With favorable healthcare reforms and financial assistance provided by various governments, an increasing number of companies are coming up with new innovative technologies in medical alert systems market in different regions. Introduction of smart wearable devices, large investments for advanced new sensors for fall detection, and the implementation of AI and IoT continue to be the major focus areas of the medical alert system companies across the globe.
The Global Medical Alert Systems Market can be classified based on connection, type, end-user, and region. In 2019, the global market was dominated by home based users, which accounted for a market share of about 60%. The medical alert systems provides the senior people independence at home and the availability of the emergency services whenever they need it. Moreover, these systems are affordable as compared to in-person monitoring.
Landline is the most popular type of medical alert system used across the world. Nevertheless, mobile medical alert systems are anticipated to grow at an impressive rate in the coming years on account of mobility they provide to the elders to maintain an active lifestyle. Mobile systems can be used from anywhere and use GPS technology to get the location and cellular technology to connect to response center.
In terms of region, North America is the largest market for medical alert systems, with a share of more than 40% in 2019 due to early adoption of the systems and presence of major companies in the region. However, the demand in Asia Pacific is expected to grow at the fastest CAGR during the forecast period due to increasing awareness towards such systems, favorable government policies, increasing investments in healthcare infrastructure, and growing middle class and old population in the region's major economies such as India, China, Japan and South Korea.
Years considered for this report:
- Historical Years: 2014-2018
- Base Year: 2019
- Estimated Year: 2020
- Forecast Period: 2021-2025
Objective of the Study
- To evaluate and forecast the Global Medical Alert Systems Market size.
- To evaluate and forecast the Global Medical Alert Systems Market share across different end-users (Home based, hospitals and clinics, nursing home, assisted living facilities)
- To evaluate and forecast the Global Medical Alert Systems Market share, by type (Landline, Standalone and Mobile) and by connection (Wired and Wireless)
- To segment and forecast the Global Medical Alert Systems Market into different regions - North America, South America, APAC, Europe, and MEA.
- To identify major drivers & challenges for the Global Medical Alert Systems Market.
- To identify major trends of the Global Medical Alert Systems Market.
- To profile major companies operating in the Global Medical Alert Systems Market.
Key Topics Covered
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Voice of Customer
5. Global Medical Alert Systems Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Connection (Wired v/s Wireless)
5.2.2. By Type (Landline, Mobile, Standalone)
5.2.3. By End User (Home Based Users, Hospitals & Clinics, Nursing Homes, Assisted Living Facilities)
5.2.4. By Region
5.2.5. By Company (2019)
5.3. Product Market Map
6. Asia-Pacific Medical Alert Systems Market Outlook
7. Europe Medical Alert Systems Market Outlook
8. North America Medical Alert Systems Market Outlook
9. South America Medical Alert Systems Market Outlook
10. Middle East & Africa Medical Alert Systems Market Outlook
11. Market Dynamics
12. Market Trends & Developments
13. Competitive Landscape
13.1. Philips Lifeline
13.2. ADT Inc.
13.5. Bay Alarm Medical
13.6. Medical Guardian
13.7. Connect America
13.8. Nortek Security and Control
13.9. Life Alert Response Emergency Inc.
13.10. VRI Inc.
(Note: The companies list can be customized based on the client requirements.)
14. Strategic Recommendations
For more information about this report visit https://www.researchandmarkets.com/r/kvcoi9