According to the research report, the global medical alert systems market size & share was valued at USD 6.94 Billion in 2021 and is expected to reach USD 16.86 Billion By 2030, to grow at a CAGR of 10.9% during the forecast period.
Medical alert systems are enhanced medical devices designed to offer a fast and more reliable way for elders and users with health issues to communicate with medical services in the case of an emergency. Further, medical alert devices are equipped with a help button that can dial an emergency response center and connect users to live agents. Moreover, the traditional medical alert system consists of a base unit and a portable help button that a user can wear around the house; however, modern medical alert systems include GPS-based mobile solutions and cellular alternatives for users to utilize while on the go, as well as options that automatically send an alarm when a fall is detected.
Medical alert systems (MAS), also known as Personal Emergency Response System (PERS), are alarm systems designed to alert linked healthcare facilities in case of any medical hazard or injury requiring immediate medical attention. Medical alert systems are usually marketed with a wireless transmitter designed as a pendant, which can be activated in a medical emergency. Disabled and older adults who do not live with their family members are the major users of these systems. Currently, the medical alert systems market is highly attractive due to the rapidly aging population and increasing awareness among the populace.
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Frequently Asked Questions
Medical Alert Systems: Growth Drivers
The increase in geriatric population and health latency across the world is expected to fuel growth in the medical alert systems market share. Technological advancement such as IoT and AI in medical alert systems is one of the key drivers expected to provide lucrative opportunities for the growth of the medical alert systems market during the forecast period. Other factors likely to positively favor the market growth involve an increase in a health literacy program that involves training on making smart healthcare choices, improving communication with doctors or emergency responders as well as financial assistance by the government for senior citizens. Moreover, the rise in the adoption of the Internet of Things across residential and healthcare sectors is fueling the market during the forecast period.
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Global Medical Alert Systems Market: Report Scope
Report Attribute
Details
Market Size 2021 Value
USD 6.49 Billion
Market Outlook for 2030
USD 16.86 Billion
Expected CAGR Growth
10.9% from 2022 – 2030
Base year
2021
Forecast period
2022 – 2030
Segments covered
By System Type, By Technology, By Application, By Region
Key Companies
ADT Corporation, AlertOne Services LLC, Connected America, Galaxy Medical Alert Systems, Greatcall, Inc., Guardian Alarm, Koninklijke Philips N.V., Legrand Assisted Living & Healthcare, Life Alert Emergency Response, Inc., LifeFone, LifeStation, Medical Guardian LLC, Nortek Security & Control LLC, Philips N. V., Rescue Alert, Response Now, Tunstall Healthcare Group Ltd., Valued Relationships, Inc., Vanguard Wireless, and VRI Inc.
Regional scope
North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Customization Options
Customized purchase options are available to meet your research needs.
Medical Alert Systems Market Segmentation
Based on the system type segment, the mobile PERRS segment accounted for the most significant revenue in the global market in 2021. It is expected to continue its dominance during the forecast period owing to the apparent widespread usage of smartphones in recent years. Based on the application, the home-based user segment witnessed the largest market share in 2020 and is expected to grow at a high CAGR in the upcoming years. By technology, the unmonitored medical alert systems market contributed the highest revenue in the revenue share in 2020 and is projected to continue to account for significant market share during the forecast period.
In terms of geography, North America dominated the medical alert systems market with a market share. The region is expected to continue its dominance owing to the local presence of key players and increasing technological advancements in the area. Besides, various strategies adopted by these major players, such as partnerships, collaborations, mergers and acquisitions, and product launches, are also driving the market growth.
The Asia Pacific is anticipated to experience healthy growth in the market. The factors contributing to this regional growth include the rising geriatric population and the increasing incidence of chronic diseases. Moreover, increased healthcare awareness and increased home-based health programs are also boosting the market growth. The rapidly increasing mobile health deployments are anticipated to grow demand for PERS in this region.
Browse the full “Medical Alert Systems Market Share, Size, Trends, Industry Analysis Report, By Application; By Technology (Two-way Voice Systems, Unmonitored Medical Alert Systems, Medical Alert Alarm (Button) System, IP-based Systems), By System Type, By Region; Segment Forecast, 2022 – 2030” Report at https://www.polarismarketresearch.com/industry-analysis/medical-alert-systems-market
The market is primarily segmented based on application, system type, technology, and region.
Medical Alert Systems: By Application Outlook
Medical Alert Systems: By System Type
Medical Alert Systems: By Technology
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