Personal Emergency Response System/Medical Alert System Market Report

Personal Emergency Response System/Medical Alert System Market Analysis By Type (Landline, Mobile, Standalone), By End-use (Home-based Users, Nursing Homes, Assisted Living Facilities, Hospices), And Segment Forecasts, 2014 - 2025

Published: October 2017  |  113 Pages  |  Format: PDF  |  Report ID: GVR-2-68038-002-6

Industry Insights

The global Medical Alert System/Personal Emergency Response System (PERS) market was valued at USD 6.7 billion in 2016 with a CAGR of 5.8%. Rise in geriatric population, improvement in healthcare infrastructure, and increasing preference for aging in place are some of the factors driving the market. According to a report titled “An Aging World” by the U.S. Department of Commerce, the world population stood at 7.3 billion in 2015, of which around 8.5% or 617.1 million people were aged 65 years and above. In just 15 years, the elderly population is estimated to increase by more than 60%.

Following the rapid increase in elderly population, the need for medical alert systems in homes of the elderly is also increasing. Moreover, falls are one of the most common causes of injury among the elderly. According to the American Hospital Association, more than one-third of adults aged 65 years and above suffer from a fall each year, and this is a serious problem that often leads to several other chronic and severe concerns for older adults. This is also expected to boost demand for medical alert systems.

U.S. PERS market revenue by type, 2014 - 2025 (USD Billion)

U.S. PERS market

Furthermore, most of the elderly want to age in the comfort of their homes instead of opting for other options, such as nursing homes and assisted living facilities. According to American Association of Retired Persons, 90% people aged 65 years and above want to remain in their homes for as long as possible. With the help of medical alert systems, the elderly can age in place. Moreover, caregivers have easy access to help via medical alerts.

Type Insights

Based on type, the market is categorized into landline, mobile, and standalone devices. These devices provide seniors and their caregivers 24/7 access to emergency care specialists with the press of a button. Specialists can send caregivers or medical personnel to users based on their requirements.

Mobile PERS systems was the largest segment in 2016 owing to wide utilization. According to world telecommunication data by Ministry of International Affairs and Communications (Japan), mobile phone usage is 100% in most countries, while landline usage is barely over 50% (ICT indicators database 2013). Standalone devices are estimated to be the fastest growing segment over the forecast period owing to better accessibility, compactness, and affordability.

End-use Insights

Based on end-use, the PERS market is segmented into home-based users, nursing homes, assisted living facilities, and hospices. PERS devices provide independent living with easy access to care. They enable seniors to call for help in case of emergency with the press of a button.

Home-based users segment was the largest in 2016 and is estimated to be the fastest growing over the forecast period. Availability of technologically advanced devices and growing preference of the elderly to age in place are factors expected to drive the growth of this segment.

Global PERS market revenue by region, 2016 (%)

Global PERS market

Regional Insights

North America dominated the PERS market with a market share of over 41.75% in 2016. Local presence of key players, established healthcare infrastructure, and technological advancements are some of the factors responsible for its large share. Besides, increasing incidence of Alzheimer’s diseases and other forms of dementia are also increasing the need for PERS.

Asia Pacific is estimated to be the fastest growing over the forecast period with a CAGR of around 6.5% owing to growing geriatric population coupled with increasing prevalence of chronic diseases. In addition, the need for improved healthcare facilities and increase in home-based health programs are expected to drive the market. Moreover, rise in mobile health deployments in this region is projected to boost demand for PERS.

Competitive Insights

Some of the key market players are Koninklijke Philips N.V.; ADT Security Services; Bay Alarm Medical; VRI, Inc.; Life Alert Emergency Response, Inc.; Tunstall; Medical Guardian LLC; AlertOne Services LLC; GreatCall; Rescue Alert; LogicMark; and Nortek Security and Control.

Key players are focusing on expanding their product portfolios to increase their market share. In addition, they are adopting strategies such as acquisitions and collaborations. For instance, GreatCall collaborated with Automated Insights, an artificial intelligence company, and developed a platform that keeps caregivers informed about the wellbeing of their aging family members with a personalized narrative summary of their week.

Report Scope

Attribute

Details

Base year for estimation

2016

Actual estimates/Historical data

2014 - 2016

Forecast period

2017 - 2025

Market representation                                     

Revenue in USD Billion and CAGR from 2017 to 2025

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Country scope

U.S., Canada, Germany, UK, China, Japan, Brazil, Mexico, South Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors and trends

15% free customization scope (equivalent to 5 analysts working days)

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Segments covered in the report

This report forecasts revenue growth at global, regional & country levels and provides an analysis on the industry trends in each of the subsegments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global personal emergency response systems market based on type, end-use, and region:

  • Type Outlook (Revenue, USD Billion, 2014 - 2025)

    • Landline PERS

    • Mobile PERS

    • Standalone PERS

  • End-use Outlook (Revenue, USD Billion, 2014 - 2025)

    • Home-based Use

    • Nursing Home

    • Assisted Living Facilities

    • Hospices

  • Regional Outlook (Revenue, USD Billion, 2014 - 2025)

    • North America

      • U.S.

      • Canada

    • Europe

      • UK

      • Germany

    • Asia Pacific

      • Japan

      • China

    • Latin America

      • Brazil

      • Mexico

    • Middle East & Africa

      • South Africa

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