Medical alert system market is expected to grow at a moderate rate during the forecast period 2019-2025. A medical alert is known as a personal emergency response (PER), medical emergency response system or fall monitors. A medical alert system is an alarm system which is designed to indicate risk and provide immediate response after fall or injury. According to the Centers for Disease Control and Prevention (CDC), one in four senior citizen falls each year. Every year, falls result in more than 2.8 million injuries, over 800,000 hospitalizations and more than 27,000 deaths. Falls are considered as the leading cause of fatal and non-fatal injuries among senior citizen. The number of falls can be reduced with the adoption of a medical alert system. Further, different programs such as practical lifestyle adjustments and falls prevention programs may reduce the number of falls among senior citizens across the globe.
In the medical alert system, the technology currently in use includes acoustic fall detection, video camera fall detection, and fall detection sensor. The acoustic system uses microphones to detect vibrations, which indicates a fall. The visual system is basically monitoring camera, which is easy to install, and the patient can be watched 24 hours. The companies which are involved in providing medical alert system market include Life Alert Emergency Response, Inc., Bay Alarm Medical, Koninklijke Philips N.V., AlertONE Service Inc., ConnectAmerica.com, LLC, Critical Signal Technologies, and LifeStation, Inc. The companies are focused on developing an advanced medical alert system to provide better solutions across the globe. Further, the companies are adopting various strategies such as merger & acquisition, product launch in order to stay competitive in the market.
The factors contributing towards the growth of the medical alert system market include increasing concern of senior patient safety and rising aging population. Additionally, the adoption of a medical alert system among senior citizen is increasing due to the penetration of smartphones and technological advancement in the healthcare sector. Geographically the market is segmented on the basis of North America, Europe, Asia-Pacific and rest of the world. North America is expected to have a significant share attributed to the early adoption of advanced technology and increasing concern regarding senior citizen healthcare and safety in the region. Further, the high penetration of smartphones, the increasing aging population is expected to drive the growth of the medical alert system in the Asia-Pacific region.
Research Methodology:
The market study of the global medical alert system market is incorporated by extensive primary and secondary research conducted by a research team at OMR. Secondary research has been conducted to refine the available data to break down the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macroeconomic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity of our reports.
Secondary Sources Include:
- Financial reports of companies involved in the market.
- Authentic public databases such as the WHO and others.
- Whitepapers, research-papers and news blogs.
- Company websites and their product catalog.
The report is intended for hospitals, senior care centers, nursing center, research organizations, investment companies, government organizations for overall market analysis and competitive analysis. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models delivering insights into the market for better business decisions.
Market Segmentation:
- Global Medical Alert System Market Research and Analysis by System
- Global Medical Alert System Market Research and Analysis by Type
- Global Medical Alert System Market Research and Analysis by End-User
The Report Covers:
- Comprehensive research methodology of the global medical alert system market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the global medical alert system market.
- Insights about market determinants which are stimulating the global medical alert system market.
- Detailed and extensive market segments with regional distribution of forecast revenues.
- Extensive profiles and recent developments of market players.
