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Global Personal Emergency Response System (PERS) Market 2022 – Demand in Market, Share, Size, Revenue, Growth Overview, Prospect, Top Leaders of Industry and Latest Trend

Kenneth Research, in its repository of market research reports, has recently added a report titled Global Personal Emergency Response System (PERS) Market, that emphasizes on the recent market trends and opportunities available for the growth of the market for the forecast period 2022-2031. The growth of the Global Personal Emergency Response System (PERS) Market can be attributed to the increasing health spending by nations across the globe, and for the rapid innovations observed in the medical sector. According to a report by the World Health Organization (WHO), the total health spending is growing with an annual average rate of 6% in the low- and middle-income nations, and close to 4% in the high-income countries. Further, in the year 2016, the expenditure made on health reached close to 10% of the GDP of the world and crossed a value of USD 7 trillion.

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 XXX products.

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Global Personal Emergency Response System (PERS) Market Analysis – 2018-2027
Personal emergency response system (PERS), also known as medical alert system or medical alarm, is a type of alarm system, especially designed to indicate and alert the presence of a threat which requires immediate attention and to call in emergency medical work force. Unlike conventional alarm systems which consists of a transmitter and is activated in case of emergency, in the same way, personal emergency response system transmits signals to alarm monitoring medical team, which then departs for the location where the alarm was called up. Usually, such medical alarms are used by disabled or aged people or those who are living alone. The global personal emergency response system (PERS) market is anticipated to achieve a CAGR of around 6% during the forecast period, i.e. 2019-2027.

Factors such as rising prevalence of diseases and disorders including Alzheimer or epileptic seizures and heart strokes, along with the increasing focus of key players in the personal emergency response system (PERS) industry are anticipated to contribute significantly towards the growth of the global personal emergency response system (PERS) market. Additionally, increasing geriatric population, growing R&D activities in the healthcare industry, growing healthcare infrastructure and product launch and deliberate partnerships by several key players are some of the factors anticipated to drive the growth of the global personal emergency response system (PERS) market.
The global personal emergency response system (PERS) market consists of various segments that are segmented by type, component, end user, subscription model and by region. The component segment is further sub-divided into smoke detectors, bed sensors, fall detection sensors and others. Out of these, the smoke detectors segment, which held a market share of around 42% in the year 2018 is anticipated to cross a value of around USD 2100 million by the end of 2027 by registering a CAGR of around 7% during the forecast period.

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Based on region, the global personal emergency response system (PERS) market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The market in Asia Pacific, which had accounted for around 31% share in the year 2018, is estimated to witness a CAGR of 5.5% over the forecast period and cross a value of around USD 1400 million by the end of 2027.

Some of the affluent industry leaders in the global personal emergency response system (PERS) market are ADT Inc., Tunstall Group, Life Alert Emergency Response, Inc., Bay Alarm Medical, Valued Relationships, Inc., Medical Guardian, LLP, GreatCall, Alertone Services, LLC, Nortek Security and Control and Koninklijke Philips N.V.

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