Pune, India, Aug. 18, 2021 (GLOBE NEWSWIRE) -- The global personal emergency response systems market size is projected to expand at a prolific rate in the coming years on account of the steady growth in geriatric populations around the world. This information is contained in a report by Fortune Business Insights™, titled “Personal Emergency Response Systems Market Size, Share & Industry Analysis, By Product Type (Landline – Based PERS, Mobile- Based PERS, Standalone PERS, Others), By Connectivity (Wireless, Wired), By Component (Hardware, Software & Services), By End User (Home Healthcare, Assisted Living Facilities, Others) and Regional Forecast, 2019-2026”. According to the Population Division of the UN, globally, the number of people aged 60 and above will increase to 2.1 billion by 2050; it is currently at 962 million.
Moreover, aged individuals will outpace the number of children under the age of 10 by 2030. This is likely to spike the demand for personal emergency response systems (PERS) across the globe as older persons are typically afflicted with a variety of diseases, which reduces their capacity to go to hospitals or clinics in case of an adverse event. Moreover, many aging people are preferring homecare settings to healthcare facilities, which have made PERS critical components of their treatment process.
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Industry Developments:
- July 2020: US-based healthcare technologist, MobileHelp, launched a modified version of its famous wall-mounted mobile personal emergency response system. The new variant will be waterproof and can be mounted on flat surfaces as majority of falls occur in bathrooms, especially those related to older persons.
- April 2019:GreatCall, the California-based connected health specialist, announced its plan to open a novel caring facility in San Antonio, Texas, adding to its network of centers in Nevada and California. The new facility will offer host of services to aged individuals such as emergency response, commercial care, and general customer services.
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The report contains the following information:
- In-depth study of the drivers and trends shaping the market’s growth trajectory;
- Careful examination of the challenges facing the market;
- Detailed assessment of the regional and competitive dynamics influencing the market; and
- Microscopic evaluation of the different segments of the market.
Rising Prevalence of Chronic Conditions to Stimulate Growth
One of the major factors driving the personal emergency response systems market growth is the rising prevalence of chronic diseases such as cardiovascular conditions and diabetes worldwide. The World Health Organization (WHO) stated that cancer killed approximately 9.6 million people globally in 2018. Cardiovascular diseases, as per the WHO, are the number one cause of deaths around the globe, killing nearly 18 million people in 2016, majority of whom died of heart attack and stroke.
Moreover, the World Economic Forum (WEF) estimates that roughly 33% of the world’s population is living with multiple chronic conditions. These conditions have deleterious effects on the human body and are known to cause sudden bouts of pain, stroke, fit, and attack in patients. In case of such an event, the patient is incapacitated and needs immediate medical help. Personal emergency response systems detect the occurrence of such events and alarm medical response teams, who can then take appropriate actions.
Quick Adoption of Advanced Medical Systems to Support Market Growth in North America
In terms of geography, North America is expected to dominate the personal emergency response systems market share in the coming years as healthcare professionals and patients are known to rapidly adopt modern medical systems. In addition to this, there is growing incidence of chronic diseases such as obesity and hypertension in the region, which will further bolster the market’s progress.
In Europe, robust and adaptive healthcare infrastructure will be the central growth-driver for the market. Similar to North America, the region’s geriatric population is expanding rapidly, which is likely to stoke adoption of PERS. The market in Asia Pacific is anticipated to experience dynamic growth owing to increasing preference for home healthcare settings, high diabetic populations, and evolving healthcare systems.
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Key Players to Concentrate on Developing Innovative PER Solutions
Emergency response systems are instrumental in managing health conditions in chronically diseased and aged patients. Therefore, companies in this market are constantly designing, developing, and introducing innovative solutions for such patients through active collaborations, increased R&D spending, and operational expansion.
List of Key Players Covered in the Personal Emergency Response Systems Market Report:
- Medical Guardian, LLP
- Honeywell International Inc.
- MedicAlert Foundation
- Cape Cod Healthcare Inc.
- AlertONE Service Inc.
- Bay Alarm Medical
- Koninklijke Philips N.V.
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