Growth for Global Medical Alert Systems Market Share Expected to Reach USD 16.86 Billion by 2030: Polaris Market Research

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.

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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The Reader Will Find the Following Key Points from This Research Document

Existing medical alert systems market size and overview
Challenges and opportunities
End-consumer target groups and their potential volumes of operation
Best regions and segments to target
Touchpoints and an opportunity breakdown within the value chain
The growth rate during the forecast period
Key factors driving the medical alert systems market
Key market trends cracking up the growth of the market
Key vendors of the medical alert systems market
Opportunities and threats faced by the existing vendors

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Top Market Players Are:

ADT Corporation
AlertOne Services LLC
Bay Alarm Medical
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
VRI Inc

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Frequently Asked Questions

At what CAGR the medical alert systems market will expand from 2021 – to 2028?
What will be the medical alert systems market value by the end of 2028?
Which are the factors that drive market growth?
Who are the leading players in the medical alert systems market?
What are the key segments?
What are the key growth strategies of market players?
Which is the emerging offering in the medical alert systems market?
By region, which segment would grow at the highest CAGR during the forecast period?

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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.

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Medical Alert Systems Market Segmentation

Insights by application, system type, technology, and region.

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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 β€œMedical 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

Home-Based users
Senior Living Facilities/Senior Care Centers
Assisted Living Facilities
Hospitals and Clinics
Others (Nursing Homes, Retirement Homes, Mental Healthcare Centers)

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Medical Alert Systems: By System Type

Personal Emergency Response System (PERS)
Home-based/Landline-based System
Mobile PERS
Cellular Emergency Response System
Wireless Emergency Response System
GPS-based Emergency Response System
Nurse Calling System (NCS)
Button-based Systems
Integrated Communication Systems
Mobile Systems
Intercom Systems
Smart Belt

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Medical Alert Systems: By Technology

Two-way Voice Systems
Unmonitored Medical Alert Systems
Medical Alert Alarm (Button) System
IP-based Systems

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