Personal Emergency Response Systems Market Size is expected to grow at a healthy CAGR from 2022 to 2028 owing to the increasing product deployment for mitigating the risk of falls in elderly people. The industry growth is impelled by the rising geriatric population and surging product demand in areas where these services are required round-the-clock. In addition, the usage of PERS is more affordable as compared to paying for private in-home healthcare, assisted living, or nursing homes.
Considering product type, the personal emergency response systems market is estimated to record lucrative gains from the mobile PERS segment through 2028. These devices can be worn as a wristband or pendant and have a transmitter that can be activated by pushing a button. Furthermore, an MPERS device provides two-way voice communication for reporting the requirement or circumstances of the client.
Owing to job requirements, independent workers could be vulnerable to certain risks and dangers, inclusive of criminal elements and operational hazards. The use of an MPERS device can provide a needed lifeline when a person’s safety is threatened by man-made or natural forces.
Based on application, the home-based user segment is anticipated to contribute a robust share to personal emergency response systems market revenue during the forecast period. The segment growth is credited to the globally rising demand for home healthcare devices on account of reliable and effective emergency communication devices. These devices also provide efficient medical security, accurate health information, and affordability.
On the basis of region, North America personal emergency response systems market is expected to register substantial growth up to 2028. This expansion is on account of the increasing number of recorded falls in the U.S., which is a major concern for older adults who want to maintain independence and health as well as healthcare organizations under constant pressure for the management of at-risk populations. The rising popularity of these solutions, given that they help in lowering healthcare costs and improving outcomes, is slated to enhance product penetration over the forthcoming years.
Prominent personal emergency response system companies are Koninklijke Philips N.V., ADT, Life Alert Emergency Response, Connect America, Valued Relationships, Tunstall Healthcare Group, and others. These players are focusing on the implementation of expansion strategies such as acquisitions, mergers, collaborations, partnerships, and product developments for consolidating their position in the personal emergency response systems market.
Few instances of the same have been mentioned below:
The SARS-CoV-2 pandemic has elevated the requirement for a multidisciplinary public health approach, thereby increasing the need for efficient health care networks/systems. This has been instrumental in propelling the demand for personal emergency response devices and solutions for elderly care as it is difficult for these people to move out for getting essential services such as medicines amid lockdown restrictions by governments.
Market, by Type
Market, by End-use
The above information is provided for the following regions and countries: