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Personal emergency response systems also named as medical emergency systems that help in making a call during a medical emergency. It has 3 components which include a radio transmitter, a console connected to the phone, and an emergency response center that monitors the calls. Most of the PERS are programmed to telephone an emergency response center where the center notices the history, emergency of the patient and gives preference accordingly to who should be notified. Some PERS products help in automatic fall detection which detects fall with the help of technology and makes an emergency call even if the call is not made by the person wearing it for the indication of medical alert. For instance, according to National Council of Aging, every 11 seconds geriatric patient is treated in emergency room for injuries occurred due to fall. In addition to this, the Centers for Disease Control and Prevention (CDC) anticipated that about 50% of all adults in the U.S. suffer from one or two chronic diseases.
Key Market Driver -
Rising number of chronic diseases and rise in geriatric population.
Key Market Restraint -
Stringent regulations and lack of technology penetration.
Increase in chronic diseases, rise in geriatric population, increase in self- care and monitoring, rising incidence of Alzheimer’s and strokes in the geriatric population are influencing the growth of the market. According to WHO, 12.5% of people aged 65 years and 45% of people aged 85 years and older suffer from Alzheimer’s ad strokes. Furthermore, rise in penetration of technology, increased use of the smartphones by old age people which help them in making emergency calls, medication reminders, two-way voice communication, and other such factors are expected to drive the growth of the market during the forecast period. Moreover, technological advancement coupled with increased research for better services in home healthcare has triggered innovations in the healthcare sector.
However, the lack of skilled professionals, low technology penetration, stringent rules, and others are hampering the growth of the market during the forecast period.
Globally, the personal emergency response systems market is segmented on basis of product types, connectivity, components, and end users. Based on the product type, the market is segmented into landline-based PERS, mobile-based PERS, standalone PERS, and others. Based on the connectivity the market is classified into wireless and wired. Based on the components, the market is characterized into hardware, and software & services. Based on the end users, the market is classified into home based, assisted living facilities, and others.
Geographically, the market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
The major companies in the global personal emergency response systems market include Cape Cod Healthcare Inc., Koninklijke Philips N.V., MedicAlert Foundation, Bay Alarm Medical, Honeywell International Inc, AlertONE Service Inc., Medical Guardian, LLP.
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Geographically, the personal emergency response systems market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is anticipated to dominate the market owing to the rise in the number of chronic diseases, increase in geriatric population, improved healthcare infrastructure, and increased adoption of technology. Europe is the second-largest contributor to the market owing to increased improved healthcare infrastructure. Asia Pacific is anticipated to experience healthy growth in the market owing to an increase in awareness, and an increase in government initiatives towards the home healthcare sector, and an increase in the number of research activities for the betterment of elder patients in assisted living centers. Latin America and Middle East are also anticipated to experience lucrative growth in the market.
By Product Type
By End User
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