• Blog
  • Medical Alert Systems Market Analysis | 2023-2028

    Medical Alert Systems Market Analysis | 2023-2028

    Medical Alert Systems Market Analysis | 2023-2028
    Report code - SRHL182 Delivery - 2 Weeks
    Medical Alert Systems Market Size, Share, Trend, Forecast, Competitive Analysis, and Growt See more...

    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.

    Wish to get a free sample? Register Here

    What is the medical alert system?

    The medical alert system is a device that is used to signal healthcare personnel during an emergency via a panic button worn by the user in the form of a wristband or a pendant. Medical alert systems are sold with a wireless transmitter that can be activated in a medical emergency. A population of disabled and old age people who live independently are the major users of these devices.

    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.

    Medical Alert Systems Market Report Overview

    Market Size in 2028

    USD 13.39 Billion

    Market Size in 2022

    USD 7.39 Billion

    Market Growth (2023-2028)

    10.41% CAGR

    Base Year of Study

    2022

    Trend Period

    2017-2021

    Forecast Period

    2023-2028

    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.

    Want to know which region offers the best growth opportunities? Register Here

    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?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth analysis of the Medical Alert Systems Market.

    How lucrative is the future?

    The market forecast and trend data and emerging trends.

    Which regions offer the best sales opportunities?

    Global, regional, and country-level historical data and forecasts.

    Which are the most attractive market segments?

    Market Segment Analysis and Forecast.

    What are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis.

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, and Life cycle analysis.

    What are the factors affecting the market?

    Drivers & challenges.

    Will I get the information on my specific requirements?

    10% free customization

    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.

    Frequently Asked Questions (FAQs)

    The medical alert system is a device that is used to signal healthcare personnel during an emergency via a panic button worn by the user in the form of a wristband or a pendant. Medical alert systems are sold with a wireless transmitter that can be activated in a medical emergency. A population of disabled and old age people who live independently are the major users of these devices.

    The medical alert systems market is estimated to grow at a healthy CAGR of 10.41% over the next five years.

    The medical alert systems market is likely to reach USD 13.39 billion in 2028.

    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.

    North America is estimated to be the largest market during the forecast period.

    Some of the key players in the medical alert systems market are AlertOne Services LLC, Great Call, Logic Mark, Koninklijke Philips N.V., VRI, Inc., Life Alert Emergency Response, Inc., Bay Alarm Medical, Rescue Alert, ADT Security Services, Tunstall, and Medical Guardian LLC.

    The market is studied from 2017-2028.