Personal Emergency Response Systems (PERS) Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI3293
Personal Emergency Response Systems (PERS) market size is expected to grow significantly from 2019 to 2025.
Increasing ageing population will drive personal emergency response systems (PERS) market across the globe. Changing lifestyle along with rising awareness concerning health is expected to foster business growth. Moreover, in developed and developing economies, older adults are growing rapidly due to declining fertility rates and increasing longevity. Above-mentioned are the factors that drives industry growth. According to Harvard University, in the U.S. it is estimated that by 2050 the proportion of adults aged 65 years and older will nearly double thereby, it is expected to boost business growth. Advances in mobile PERS and innovations in healthcare have succeeded in helping individual live longer that will surge the demand for PER systems thereby augmenting industry growth.
Health app provides information on medical conditions and symptoms along with examination of health records or medical test. Rapidly growing penetration of smartphone in healthcare coupled with advances in health apps will render positive impact on the business growth. Moreover, availability of bio-sensing wearables such as glucose sensors and blood pressure monitors, provide access to healthcare data and information in real-time. Smartphone have included a range of sensors that monitors physiological changes. However, lack of awareness among individuals may holdback business growth to certain extent over the forecast timeframe.
Mobile PERS segment held significant revenue share owing to benefits associated with mobile PERS such as portability, highly featured cellular medical alarms and GPS network for tracking individual. It is enhanced with a contact-ID and works on a protocol that is directly communicated to the monitoring centers; such enhancements are expected to foster segment growth. Increasing prevalence of chronic diseases and growing adoption of mobile PERS will foster business growth over the coming years.
Home-based user segment is anticipated to witness robust growth during the forecast period. Home healthcare is gaining demand for its effective and reliable emergency communication devices that will drive segmental growth. Globally increasing demand for home healthcare devices should further boost segment growth. Moreover, home healthcare devices provide accurate health information, efficient medical security and it is affordable that favors business growth.
North America personal emergency response systems (PERS) market will witness lucrative growth during the forecast timeframe. Increasing healthcare expenditure and rising prevalence of chronic diseases in the region will drive industry growth. Additionally, increasing elderly population is expected to boost regional growth over the coming years. According to U.S. Census Bureau people aged 65 years and above will account for 22.5% in North America by 2050. High usage of PER systems to assist elderly people will foster industry growth during the forecast timeline.
Few of the prominent industry competitors operating in PERS industry include Life Alert Emergency Response, Koninklijke Philips N.V., Connect America, ADT, Tunstall Healthcare Group, Valued Relationships, Numera and Medical Guardian. The major industry players adopt certain strategies such as collaboration and partnerships for capturing significant market share in the industry. For instance, in January 2018, Medical Guardian announced that it will introduce its medical alert technology at 2018 Consumer Electronics Show (CES). This technology is useful to track the health status in elderly population to obtain specific health information.
Personal Emergency Response Systems (PERS) Market By Type, 2014-2025 (USD Million)
- Mobile PERS
- Standalone PERS
- Landline PERS
Personal Emergency Response Systems (PERS) Market By End-use, 2014-2025 (USD Million)
- Senior Living Facilities
- Home-based Users
- Assisted Living Facilities
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- ADT Corporation
- Connect America
- Koninklijke Philips N.V.
- Life Alert Emergency Response
- Medical Guardian LLC
- Numera, Inc.
- Tunstall Healthcare Group Ltd
- Valued Relationships, Inc
- Bay Alarm Medical
- VRI Inc
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