Deep Insights into the Global Medical Alert Systems Market
A medical alert is an alarm system which is designed to signal or indicate the presence of a hazard requiring urgent attention and to summon emergency medical personnel. The system contains the transmitter which can be activated manually or automatic in the emergency. After activation of medical alert system signal get transmitted to an alarm monitoring company central station, other emergency number. Medical personnel are then dispatched to the site where the alarm was activated. The medical alert system not only helps in the emergency but also helps patient for routine checkups, regular diagnosis, and also with medicine time reminder. Some medical alert systems also come with the vital signs monitoring system to track patient health.
Medical Alert Systems Market Conspectus
Global Medical Alert Systems Market Report demonstrated that Medical Alert Systems market is poised to present surging growth during the predicted period from USD 23,470 million in 2019 to reach USD 36,905 million by 2026 with a CAGR of 6.68%. Global economic development, government regulations adjustment, related industry dynamics, industrial upgrading, and competition among market’s participators are some of the key factors that influence the Medical Alert Systems market development. A distinctive and comprehensive picture of Medical Alert Systems is embodied in the report.
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Major Participators Landscape
The global market is highly fragmented owing to participation of many established and emerging players in the market. The major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. Major market participators covered in our report are Koninklijke Philips N.V., ADT Security Services, Bay Alarm Medical, VRI, Inc, Life Alert Emergency Response, Inc., Tunstall, Medical Guardian LLC, AlertOne Services LLC, Great Call, Rescue Alert, Logic Mark, and etc.
Market Drivers and Challenges Abstract
l Rising aging population across the globe
l Technological developments in healthcare wearables
l Healthcare reforms expected to favor growth of PERS market
l Rising penetration of smartphones in healthcare
l Constant innovations in technology and easy adaptability of PERS devices
l Stiff competition among existing medical alert system manufacturers
l An upswing in bulk purchasing through INHs and GPOs (Group Purchasing Organizations)
Medical Alert Systems Type Abstract
On the basis of the type, the Medical Alert Systems can be bifurcated into Landline, Mobiles, Standalone, and Others. The global standalone type of market share is 16.95%. The global market for standalone type will grow moderately with a positive growth rate during the forecast period. Stand-alone voice communicators, V-cube monitoring systems, transmitters, and traveling alarm systems are some of the most widely used examples of standalone PERS devices. Standalone PERS devices provide emergency protection in uncertain situations, like a sudden fall while traveling.
Medical Alert Systems Application Abstract
Based on application, this market is divided into Home-based Users, Nursing Homes, Assisted Living Facilities, Hospitals, and Others. The home-based users segment held the largest proportion of about 70.6% in 2016.
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Key Regions Overview
Major countries of North America, Europe, Asia Pacific, and the rest of the world are all exhaustive analyzed in the report. Apart from this, policy mobilization, social dynamics, fashion trends, and economic development in these countries are also taken into consideration.
North America is the global market leader at a share of 32.55%. Europe is currently leading Asia-Pacific with a share of 28.96% and 26.41%. North America held the largest market share in 2018, owing to the early inheritance of technology in society. Apart, North America is predicted to maintain its dominant position in the forecast period due to a rise in medical innovation and the need for constant medical upgrades. North America was followed by Europe and is expected to register higher growth. Asia-Pacific's market is likely to gain a significant CAGR in the forecast period due to constant upgrades in technology and rise in use of peer-to-peer systems and rise in a geriatric population.
Table of Content
1 Report Overview
1.1 Product Definition and Scope
1.2 PEST (Political, Economic, Social and Technological) Analysis of Medical Alert Systems Market
…
2 Market Trends and Competitive Landscape
3 Segmentation of Medical Alert Systems Market by Types
4 Segmentation of Medical Alert Systems Market by End-Users
5 Market Analysis by Major Regions
6 Product Commodity of Medical Alert Systems Market in Major Countries
7 North America Medical Alert Systems Landscape Analysis
8 Europe Medical Alert Systems Landscape Analysis
9 Asia Pacific Medical Alert Systems Landscape Analysis
10 Latin America, Middle East & Africa Medical Alert Systems Landscape Analysis
11 Major Players Profile
11.1 Koninklijke Philips N.V.
11.1.1 Koninklijke Philips N.V. Company Profile and Recent Development
11.1.2 Market Performance
11.1.3 Product and Service Introduction
11.2 ADT Security Services
11.3 Bay Alarm Medical
11.4 VRI, Inc
11.5 Life Alert Emergency Response, Inc.
11.6 Tunstall
11.7 Medical Guardian LLC
11.8 AlertOne Services LLC
11.9 Great Call
11.10 Rescue Alert
11.11 Logic Mark
…
Target Audience:
• Technology providers
• Medical Alert Systems manufacturers
• Distributors and resellers of Medical Alert Systems
• Medical Alert Systems industry associations
• Product managers, Medical Alert Systems industry administrator, C-level executives of the industries
• Market Research and consulting firms
• Healthcare Organization
• Research & Clinical Laboratories
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