Dublin, Dec. 16, 2021 (GLOBE NEWSWIRE) -- The "Global Medical Alert System Market (2021-2027) by System Type, Connection Type, End-user, Offering, Technology, and Geography, IGR Competitive Analysis, Impact of Covid-19, Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global Medical Alert System Market is estimated to be USD 7.4 Bn in 2021 and is expected to reach USD 12.07 Bn by 2027, growing at a CAGR of 8.5%.
Factors such as the rising geriatric population, technological advancement like the use of AI and IOT in the medical alert system, growing inclination of elder towards independent living, increasing adoption of the mobile personal emergency response system, and various healthcare reforms in different parts of the world are key drivers for the market.
The market is witnessing certain restraining factors, such as rigorous competition among existing medical alert system manufacturers, lower acceptability among seniors for technology use, and the subsequent upswing in large volume purchasing through INHs and GPOs (Group Purchasing Organizations). The introduction of voice-based and mobile medical alert system is creating an opportunity for the market.
Market Dynamics
Drivers
- Increase in geriatric population and health literacy across the globe
- Increasing adoption of smart & mobile emergency response system
- Technological advancement in medical alert systems
- Favorable healthcare reform and financial assistance by Government for senior citizens
- Growing inclination of elders towards independent living
Restraints
- Increasing incidence of false alarm
- Integration of connected medical devices into an established ecosystem
- Lower acceptability among seniors for the use of technology
Opportunities
- Revolution brought by emerging technologies - IoT & AI
- The growing number of assisted living centres and retirement homes
- Introduction of voice-based and mobile medical alert system
- Transformation in the healthcare sector
Challenges
- Low penetration of medical alert systems in developing countries
Company Profiles
- Koninklijke Philips N.V.
- Rauland-Borg Corporation
- Honeywell International
- Ascom Wireless Solutions
- ADT Corporation (US)
- Tunstall Healthcare Group Ltd.
- Valued Relationships, Inc.
- Medical Guardian LLC
- Hill-Rom Holdings Inc.
- Jeron Electronic Systems Inc
- Philips Lifeline
- ADT
- Tunstall
- Greatcall
- Alert-1
- Connect America
- Bay Alarm Medical
- Life Alert
Key Topics Covered:
1. Report Description
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Analysis
6. Global Medical Alert System Market, By System Type
7. Global Medical Alert System Market, By Connection Type
8. Global Medical Alert System Market, By End User
9. Global Medical Alert System Market, By Offering
10. Global Medical Alert System Market, By Technology
11. Global Medical Alert System Market, By Geography
12. Competitive Landscape
13. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/xq8byy
