Medical Alert Systems Market Analysis | 2023-2028

Market Insights

The Medical Alert Systems Market is estimated to grow from USD 7.39 billion in 2022 to USD 13.39 billion by 2028 at a healthy CAGR of 10.41% during the forecast period.

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Market Dynamics

A growing aging population, technological advancements in healthcare wearable devices, increasing smartphone penetration in healthcare, constant innovations in technology, and easy adaptability of PERS devices are the prime factors that are contributing to the demand for the medical alert systems market.

Segments Analysis

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The market is segmented into the following categories-

By System Type

• Personal Emergency Response Systems (PERS)
• Nurse Call Systems (NCS)
• Ambulatory Auto Alert Systems
• Automated Airborne Flight Alert System
• Smart Belt

By Connection Type

• Wired
• Wireless

By End-User Type

• Home-Based Users 
• Senior Living Facilities/Senior Care Centers 
• Assisted Living Facilities
• Others

By Region

• North America 
• Europe
• Asia-Pacific
• Rest of the World

By System Type

The market is segmented into personal emergency response systems (PERS), nurse call systems (NCS), ambulatory auto alert systems, automated airborne flight alert systems, and smart belts. The personal emergency response systems (PERS) segment held the largest share of the market in 2022 and is expected to remain dominant during the forecast period. The rising population of old age dependents, the availability of advanced medical facilities, increasing awareness towards healthcare, and the adoption of PERS are the major factors driving the segment's growth. The use of artificial intelligence (AI) in PERS devices has shown an increased demand for PERS across the world.

By End-User Type

The medical alert systems market is segmented as home-based users, senior living facilities/senior care centers, and assisted living facilities. The home-based user segment dominates the market, as medical alert systems provide the elderly adult's independence at home, and due to this factor, they are majorly used by elderly individuals suffering from diabetes chronic obstructive pulmonary disease (COPD), and heart diseases.

The introduction of smart medical alert systems with monitoring features is further aiding the growth of the segment.

By Region

The medical alert system market is broken down geographically into geographies, namely North America, Europe, Asia-Pacific, and the Rest of the World (RoW). North America is estimated to be the largest market during the forecast period, with the USA, Canada, and Mexico being the major countries with lucrative growth opportunities. The growth of the market is mainly driven by the increasing spending on healthcare, increasing government initiatives towards the healthcare of the old age population in the region, and the inclination of senior citizens towards independent living.

Key Players

The following are some of the key players in the medical alert system market:

• AlertOne Services LLC
• GreatCall
• Logic Mark
• Koninklijke Philips N.V.
• VRI, Inc
• Life Alert Emergency Response, Inc.
• Bay Alarm Medical
• Rescue Alert
• ADT Security Services
• Tunstall
• Medical Guardian LLC.

Report Features

This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Target Audience

The following is a list of the customers that the market aims to convert the most:

• Manufacturers
• Suppliers
• Distributors
• Organizations
• Government bodies

Critical Questions Answered in the Report

• What are the key trends in the market?
• How has the market (and its various sub-segments) grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on the market?
• What are the key strategies adopted by the major vendors to lead in the market?
• What is the market share of the top vendors?

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.