The Global Medical Alert System Market is expected to reach USD 10.17 billion by 2025, from USD 6.53 billion in 2017 growing at a CAGR of 5.7% during the forecast period of 2018 to 2025. The upcoming market report contains data for historic year 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
A medical alert is an alarm system which is designed to signal or indicate the presence of a hazard requiring urgent attention and to summon emergency medical personnel. The system is having transmitter that can be activated in emergency. After activation of medical alert system signal get transmitted to an alarm monitoring company central station, other emergency number. Medical personnel are then dispatched to the site where the alarm was activated. An medical alarm system consist of emergency transmitter, which is worn like a wristwatch or a pendant and base station, which is connected to the telephone and contains a very sensitive microphone/speaker unit.
Medical alert system market is growing tremendously. For instance, according The National Center for Biotechnology Information, in 2015, for example, total Medicare expenditure was USD 632 billion; approximately 25% of this cost was due to in-hospital care. An additional 10% of the total cost was due to readmissions through emergency transports.
There have been tremendous technological advancements in the field of personal emergency care in the last decade, For instance, MobileHelp carries a cellular in-home alert system, a mobile option, and a pendant with fall detection. Their mobile option connects to the AT&T network so it can be used anywhere with cell service.
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Major Market Drivers and Restraints:
- Rising aging population across the globe
- Technological developments in healthcare wearables
- Healthcare reforms expected to favour growth of PERS market
- Rising penetration of smartphones in healthcare
- Constant innovations in technology and easy adaptability of PERS devices
- Koninklijke Philips N.V.
- Intel Corporation
- Bay Alarm Medical
- ADT Corporation
- Alertone Services Llc.
- American Senior Safety Agency (Us)
- Blue Willow Systems
- Connect America
- Critical Signal Technologies
- Galaxy Medical Alert System
Greatcall (Us), Guardian Alarm, , Legrand (Uk), Life Alert Emergency Response, Inc. (Us), Life Call Medical Alert System (Us), Lifefone, Lifewatch Usa (Us), Marigroup Oy, Medical Care Alert (Us), Medical Guardian Llc, Mobilehelp, Mytrex, Inc. Dba Rescue Alert, Nortek Security & Control Llc. (Us), Numera Inc., Responsenow Medical Alert Systems (Us), Safe Guardian (Us), Tunstall Americas, Valued Relationships, Inc.,Vital Connect Inc.among others.
Reasons to Purchase this Report:
- Current and future of global medical alert system market outlook in the developed and emerging markets.
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period.
- Regions/countries that are expected to witness the fastest growth rates during the forecast period.
- The latest developments, market shares, and strategies that are employed by the major market players.
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Key Developments in the Market:
- In February 2015, The ADT Corporation (U.S), announced the expansion of its health product portfolio with the introduction of the wearable On-The-Go Emergency Response System.
- In October 2014, Royal Philips (U.S) announced the availability of Philips Lifeline GoSafe, its mobile medical alert service that is part of Philips’ suite of digital solutions that connect care across the health continuum.
Market Segmentation: Global Medical Alert System Market
- The global medical alert system market is segmented based on type, end user, and geographical segments.
- Based on type market is segmented into landline, mobile and standalone.
- On the basis of end user market is segmented into home-based users, senior living facilities, and assisted living facilities.
- Based on geography the market report covers data points for 28 countries across multiple geographies namely North America & South America, Europe, Asia-Pacific and, Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa and, Brazil among others
The global Medical alert system market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of medical alert system market for global, Europe, North America, Asia Pacific and South America.
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry. https://databridgemarketresearch.com/speak-to-analyst/?dbmr=global-medical-alert-system-market