In a recent published report, Kenneth Research has updated the market report for Medical Alert System/Personal Emergency Response System Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Medical Alert System/Personal Emergency Response System Market products.
Global Medical Alert System/Personal Emergency Response System Market
By End User (Senior Living Facilities, Assisted Living Facilities, Home-based Users), Type (Standalone PERS, Landline PERS, Mobile PERS), and Regional Market Size, Status and Forecast to 2025
The Global Medical Alert System/Personal Emergency Response System Market was valued at USD 6.23 billion in 2016 and is projected to reach USD 10.03 billion by 2025, growing at a CAGR of 5.43% from 2017 to 2025. Personal Emergency Response Systems (PERS), also known as Medical Emergency Response Systems, let you call for help in an emergency by pushing a button. A PERS has three components: a small radio transmitter, a console connected to your telephone, and an emergency response center that monitors calls. Benefits of Personal Emergency Response Systems include – affordability, privacy, independent, availability, responsiveness, safe, easy setup, easy to use, large cost savings, and data collection unobtrusive and objective.
The Final Report will cover the impact analysis of COVID-19 on this industry:
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1. Market Drivers
1.1 Advancements in Communication Technologies
1.2 Increasing need for affordable medical alert devices
1.3 Growing aging population across the globe
1.4 Technological enhancements in healthcare wearables
1.5 Increasing adoption of smartphones in healthcare
1.6 Continuous innovations in technology and easy adaptability of PERS devices
2. Market Restraints
2.1 False alarm decreasing the efficiency of PERS
2.2 High overall cost
2.3 Poor knowledge of the new technology used in PERS systems
2.4 Poor acceptability among senior citizens
The Global Medical Alert System/Personal Emergency Response System Market is segmented on the end user, type, and region.
1. End User:
1.1 Senior Living Facilities
1.2 Assisted Living Facilities
1.3 Home-based Users
2. By Type:
2.1 Standalone PERS
2.1.1 Wandering System
2.1.2 R-cube/V-cube Monitoring System
2.1.4 Standalone Voice Communicator
2.2 Landline PERS
2.3 Mobile PERS
2.3.1 Cellular Emergency Response System
2.3.2 GPS-based Emergency Response System
2.3.3 Wireless Emergency Response System
3. By Region:
3.1 North America (U.S., Canada, Mexico)
3.2 Europe (Germany, UK, France, Rest of Europe)
3.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
3.4 Latin America (Brazil, Argentina, Rest of Latin America)
3.5 Middle East & Africa
The major players in the market are as follows:
1. ADT Corporation
2. Tunstall Americas
3. Valued Relationships, Inc.
4. Connect America
5. Critical Signal Technologies
6. Galaxy Medical Alert System
7. Numera Inc.
9. Koninklijke Philips N.V.
10. Guardian Alarm
11. Mytrex, Inc. Dba Rescue Alert
12. Alertone Services LLC.
13. Medical Guardian LLC
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the Global Medical Alert System/Personal Emergency Response System Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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