Medical Alert Systems Market To Reach $15.2 Billion By 2030

Medical Alert Systems Market Growth & Trends

The global medical alert systems market size is estimated to reach USD 15.2 billion by 2030, registering a CAGR of 6.4% from 2023 to 2030, according to a new report by Grand View Research, Inc. Increasing incidence of Alzheimer’s disease and rising life expectancy are estimated to boost the market for Medical alert systems. Moreover, increasing number of mergers and acquisitions by market players are also expected to accelerate growth.

Furthermore, the elderly is more prone to falls, and according to a study, 50% of seniors aged 80 years and 30% of seniors aged 65 fall every year. In addition, those suffering from diseases such as epilepsy, Alzheimer’s, Parkinson’s, multiple sclerosis, and muscular dystrophy, are at a higher risk of falling. These are major factors that are estimated to drive the market.

In addition, availability of technologically advanced medical alert systems, such as those enabled with W-Fi, GPS, BLE, and radio frequency, help caregivers in finding wandering elders. Combination of PERS with mobile communication technology has enabled not only monitoring of users when they are at home, but also when they are traveling and leading active lives. Devices are now capable of predictive or automatic fall detection and connect the elderly to their caregivers and medical professionals. Increasing awareness about Internet of Things has presented a huge opportunity for medical alert systems to create connected homes. Thus, technologically advanced PERS devices have accelerated the growth of the market.

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Medical Alert Systems Market Report Highlights

• Standalone devices are expected to be one of the fastest growing segments over the forecast period owing to their accessibility and affordability

• Mobile systems were the largest segment in 2022 due to their widespread utilization

• Home-based users segment is estimated to be the fastest growing end-use segment over the forecast period and it was the largest end-use segment in 2022

• North America dominated the market in 2022 owing to local presence of key players and increasing number of mergers and acquisitions

• Asia Pacific is expected to be the fastest growing region over the next decade with a lucrative CAGR from 2023 to 2030 due to improved economic conditions and rise in healthcare expenditure

• Some of the key 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

• Most of the key players are focusing on expanding their product portfolios, and engaging in collaborations and acquisitions

Medical Alert Systems Market Segmentation

Grand View Research has segmented the global medical alert systems market report based on type, end-use, and region:

Medical Alert Systems Type Outlook (Revenue, USD Million, 2018 - 2030)

• Landline PERS

• Mobile PERS

• Standalone PERS

Medical Alert Systems End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Home-based Users

• Nursing Home

• Assisted living facilities

• Hospices

Medical Alert Systems Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Denmark

  • Sweden

  • Norway

• Asia Pacific

  • Japan

  • China

  • India

  • Australia

  • Thailand

  • South Korea

• Latin America

  • Brazil

  • Mexico

  • Argentina

• Middle East and Africa

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List of Key Players of Medical Alert Systems Market

• ADT.

• Bay Alarm Medical

• Lifeline.

• Life Alert Emergency Response, Inc.

• VRI

• Tunstall Group

• Medical Guardian LLC.

• AlertONE Services Inc.

• GreatCall.

• Rescue Alert

• LogicMark

• Nice North America