Major players in the medical alert systems market are Koninklijke Philips N. V. , Connect America, ADT Security Services, Bay Alarm Medical, VRI Inc. , Life Alert Emergency Response, Inc, Medical Guardian LLP, Nortek Security and Control, Rescue Alert, AlertONE Service Inc.
New York, Oct. 03, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Medical Alert Systems Global Market Report 2022" - https://www.reportlinker.com/p06325389/?utm_source=GNW
, GreatCall, Ascom Wireless Solutions, LogicMark, Tunstall, and LifeStation.
The global medical alert systems market is expected to grow from $8.53 billion in 2021 to $9.30 billion in 2022 at a compound annual growth rate (CAGR) of 9.0%. The medical alert systems market is expected to reach $12.98 billion in 2026 at a CAGR of 8.7%.
The medical alert systems market consists of sales of the medical alert systems products and related services by entities (organizations, sole traders, and partnerships) that refer to a life-saving device that is used to create a sense of safety at the push of a button.A medical alert system refers to a device, also known as a personal emergency response system (PERS) or fall button, that combines communication and computer technologies.
These life-saving tools help seniors and people with health issues age in place while maintaining their freedom by ensuring their safety and peace of mind.
The main types of medical alert systems are hardware and services.The hardware type refers to the components that are used to run a medical alert system such as console unit, transmitter, battery, and others.
It also refers to a physical or tangible component of any device that completes the whole system.The various types of systems in medical alert systems include personal emergency response system (PERS), nurse calling system (NCS), and smart belt that apply technologies such as two-way voice systems, medical alert alarm (button) system, and IP-based systems.
They are distributed through pharmacies, online sales, and hypermarkets. The medical alert systems finds its application in home-based users, senior living facilities/senior care centers, assisted living facilities, hospitals and clinics, other applications.
Asia Pacific was the largest region in the medical alert systems market in 2021, and it is also expected to be the fastest-growing region in the forecast period. The regions covered in the medical alert systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The medical alert systems market research report is one of a series of new reports that provides medical alert systems market statistics, including medical alert systems industry global market size, regional shares, competitors with a medical alert systems market share, detailed medical alert systems market segments, market trends and opportunities, and any further data you may need to thrive in the medical alert systems industry. This medical alert systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The increasing focus of the government to improve healthcare infrastructure is expected to propel the growth of the medical alert systems market going forward.Medical Emergency Response Systems can be useful if someone needs to enter a nursing home or assisted living facility.
Management must comprehend how healthcare facilities might use medical alerts because accidents and crises can happen even in institutions with round-the-clock care.For instance, in March 2020, the Federal Communications Commission (FCC), an independent agency of the US government, launched several programs to keep Americans connected to crucial health services, such as the $200 million COVID-19 Telehealth Program, which will assist medical professionals in providing connected care services to patients at their homes or mobile sites in response to the pandemic.
The program completely funded the telecommunications services, information services, and a wide range of devices required to offer essential linked care services, enabling eligible health care providers to respond to the pandemic right away. Therefore, the increasing government focus to improve healthcare infrastructure is expected to boost the medical alert systems market during the forecast period.
Technological advancements have emerged as a key trend gaining popularity in the medical alert systems market.Major companies operating in the medical alert systems market are adopting new technological solutions such as the Micro, a mobile medical alert device to sustain their position.
For instance, in October 2020, MobileHelp, a Florida-based healthcare technology company, launched Micro, the all-in-one mobile medical alert device equipped with the company’s patented automated fall detection technology, ensuring that the user can still get assistance even if they are unable to press their emergency button. In the event of an emergency, the company’s multi-mode location accuracy, which derives from GPS technology, cellular ID, and short-range RF, can pinpoint the user’s location.
In April 2022, Advocate Aurora Enterprises, a US-based provider of integrated health systems, acquired MobileHelp for an undisclosed amount.This acquisition will help Aurora to access advance cutting-edge approaches that go beyond conventional clinical care and in investing in solutions that are complementary to its clinical offerings, advancing whole-person health and its purpose of helping people live well.
MobileHelp is a US-based healthcare technology company and provider of portable personal emergency response systems.
The countries covered in the medical alert systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
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