Medical Alert Systems Market | Covid-19 Impact Analysis

Medical Alert Systems Market Insights

Medical alert systems market is likely to witness an impressive CAGR of 7.5% during the forecast period. Growing aging population, technological advancements in healthcare wearable devices, increasing smartphones 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.

Market Share Analysis

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Medical Alert Systems Market Share: By System Type

Based on the system type, the market is segmented as personal emergency response systems (PERS), nurse call systems (NCS), ambulatory auto alert systems, automated airborne flight alert system, and smart belt. The personal emergency response systems (PERS) segment held the largest share of the market in 2019, and is expected to remain dominant during the forecast period. Rising population of old age dependents, along with the availability of advanced medical facilities, increasing awareness towards healthcare, and adoption of PERS are the major factors driving the growth of the segment. The use of artificial intelligence (AI) in the PERS devices have shown an increased demand for the PERS across the world.

Medical Alert Systems Market Share: By End-User Type

Based on the end-user type, the medical alert systems market is segmented as home-based users, senior living facilities/senior care centers, assisted living facilities, and others. The home-based users 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 the 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.

Medical Alert Systems Market Share: By Region

In terms of regions, 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 in healthcare, increasing government initiatives towards healthcare of old age population in the region, and inclination of senior citizens towards independent living.

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Some of the major medical alert system manufacturers 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
• Medical Guardian LLC.

Market Scope & Segmentation

Medical alert system is a device that is used to signal the 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.

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 medical alert systems market is segmented into the following categories. 

Medical Alert Systems Market Size, Share, & Forecast, by System Type:

• Personal Emergency Response Systems (PERS) (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Nurse Call Systems (NCS) (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Ambulatory Auto Alert Systems (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Automated Airborne Flight Alert System (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Smart Belt (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Medical Alert Systems Market Size, Share, & Forecast, by Connection Type:

• Wired (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Wireless (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Medical Alert Systems Market Size, Share, & Forecast, by End-User Type:

• Home-Based Users (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Senior Living Facilities/Senior Care Centers (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Assisted Living Facilities (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Medical Alert Systems Market Size, Share, & Forecast, by Region:

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Research Methodology

This report offers high-quality insights and is the outcome of 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 book, press release, journals, investor presentation, 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 the qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. 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. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

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)

Market Segmentation

• Current market segmentation of any one of the system types by end-user type.  

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 at [email protected].