Personal Emergency Response Systems (PERS) Market Growth Analysis

Market Insights

The Personal Emergency Response Systems (PERS) Market is projected to grow from USD 5.9 billion in 2020 to USD 9.1 billion by 2026 at a healthy CAGR of 7.5% during the forecast period.

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What is a personal emergency response system?

Personal Emergency Response Systems (PERS) are also referred to as Medical Emergency Response Systems. A PERS includes three parts: a console attached to the telephone, a small radio transmitter, and an emergency response center that monitors calls. When emergency help is required, the PERS user presses the transmitter’s help key. It transmits a radio signal to the console.

Key Players

Key players operating in the Personal Emergency Response Systems (PERS) market are-

• Koninklijke Philips (Netherlands)
• ADT Security Services (US)
• Bay Alarm Medical (US)
• VRI (US)
• Life Alert Emergency Response (US)
• Tunstall (UK)
• Medical Guardian (US)
• AlertOne Services (US)
• GreatCall (US)
• Rescue Alert (US).

Market Dynamics

The personal emergency response systems (PERS) market is a rapidly growing industry that provides safety and security to seniors and individuals with disabilities. PERS devices are designed to provide immediate assistance in the event of an emergency, such as a fall or a medical emergency.

The personal emergency response systems (PERS) market is driven by several factors, including:

The growing geriatric population, strong adaptation rates of these devices, rise in the number of health-conscious people, and new technology modifications are some of the key factors boosting the growth. Robust growth in the personal emergency response systems market is likely to be propelled by the growing adoption of mobile smartphone-based applications for older citizens’ health management and enhancements in medical alert services. There are growing rates of senior population and population who opt to lead an active life in independent living communities, which helps to enhance the demand for personal emergency response systems globally.

Technological advancements: Technological advancements in PERS devices have led to the development of more sophisticated and advanced devices that can monitor and track vital signs, provide medication reminders, and even detect falls.

Integration with smart home technology: PERS devices are increasingly being integrated with smart home technology, allowing for seamless communication between devices and increased automation.

Increasing use of telehealth: The increasing use of telehealth services is expected to drive demand for PERS devices. Telehealth enables remote monitoring of patients, which can improve patient outcomes and reduce healthcare costs.

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Segment Analysis

Product Trends

The market has been classified into landline PERS, mobile PERS, and standalone PERS. The mobile PERS segment accounted for a substantial market share in 2020. Mobile PERS exhibits several advantages over conventional PERS units, which consist of tracking capabilities via a variety of technologies. Moreover, they are also lightweight and long-lasting. They are gaining popularity as they allow senior citizens to lead a more independent and normal lifestyle, which further bolsters segment growth.

Regional Analysis

The market in Asia-Pacific accounted for the largest share in 2020 and is projected to continue its dominance during the review period. This is mainly attributed to the growing geriatric population and the increasing prevalence of chronic diseases. In addition, the demand for better healthcare facilities and an increase in home-based health programs are anticipated to boost the regional market. Moreover, the rising technological advancements, growing awareness among the people, and increasing investments from foreign players further proliferate regional growth.

Europe is also a significant market for PERS, with a growing elderly population in many countries. The market in Europe is characterized by a high level of regulation, which has led to a relatively stable competitive landscape. The region also has a high level of technological innovation, which has resulted in the development of advanced PERS devices that offer a range of features and functionality.

Latin America and the Middle East and Africa (MEA) are also emerging markets for PERS, with increasing demand for healthcare services and rising healthcare expenditure. The market in these regions is characterized by a fragmented competitive landscape, with many local players offering low-cost PERS devices.

Overall, the PERS market is expected to continue growing in all regions due to the increasing demand for healthcare services, the aging population, and the need for innovative solutions that enable individuals to remain independent and safe in their homes.

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COVID-19 Impact

The COVID-19 outbreak positively influenced the growth of the Personal Emergency Response Systems (PERS) market. Rising cases of coronavirus across the globe put a heavy strain on the healthcare sector. Senior adults and people suffering from chronic diseases were at higher risk of getting infected, which, in turn, boosted the demand for PERS.

Critical Questions Answered in the Report

• What are the key trends in the market?
• How the market (and its various sub-segments) has 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?

Target Audience

Here is the list of the group of customers that the market hopes to have the greatest opportunity to convert-

• Distributors
• Suppliers
• Manufacturers
• Logistics organizations
• Government bodies

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.

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 companies across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Customization Options

Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

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

Competitive Benchmarking

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

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