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Global Personal Emergency Response System Market to Show Positive Growth at a Tremendous CAGR of 6.9% During the Forecast 2028 | Koninklijke Philips N.V. (Netherlands), Honeywell International Inc (US)

07-10-2023 09:56 AM CET | Health & Medicine

Press release from: Introspective Market Research

Global Personal Emergency Response System Market to Show

Market Overview:
The global market for Personal Emergency Response Systems (PERS) estimated at USD 8.2 Billion in the year 2021, is expected to reach a revised size of USD 13.08 Billion by 2028, growing at a CAGR of 6.9% over the forecast period 2022-2028.

Personal Emergency Response Systems (PERS), also known as Medical Emergency Response Systems, are devices that allow individuals to call for help in emergencies with the push of a button. These systems are particularly useful for high-risk individuals who may require assistance and supervision. When the help button is activated, the device sends a signal to a console connected to a telephone, which then dials emergency numbers or contacts an emergency response center. The quick response ensures timely assistance, making PERS a valuable and potentially life-saving solution.

Leading Key Players Covered in Personal Emergency Response System market:
Koninklijke Philips N.V. (Netherlands),Honeywell International Inc (US),Life Alert Emergency Response Inc. (US),AlertONE Service Inc. (US),MedicAlert Foundation (US),ADT Security Services Inc. (US),Bay Alarm Medical (US),Shenzhen Giftshine Technology Co. Ltd. (China),Nortek Security & Control LLC (US),Galaxy Medical Alert Systems Ltd. (Canada),Medical Guardian LLP (US),Rope Innovation Co. Ltd. (China),Electronic Caregiver Inc. (US),Ningbo Hi-Tech Park Jabo Electronics Co. Ltd (China),Vanguard Wireless (Australia),Tynetec Ltd. (UK) and Other Major Players.

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Market Dynamics:
Driver:
Personal Emergency Response Systems (PERS) have become increasingly important for older adults who are often alone and face a higher risk of falls as they age. With around 30% of people over 65 experiencing falls annually, and even higher rates for those over 80, the demand for PERS has grown. Additionally, the presence of diseases and conditions such as Parkinson's, Alzheimer's, and diabetes further elevates the risk of older adults staying alone. Hospitalization among older adults requires additional support due to functional disabilities. In such scenarios, PERS provides a vital solution by ensuring constant monitoring and the ability to alert others when help is needed.

Opportunities:
Personal Emergency Response Systems (PERS), also known as medical alert systems, are increasingly popular among adults aged 50 and older who prefer to remain in their own homes rather than move to nursing homes. These systems provide a sense of security and independence for seniors, aided by advancements in mobile capabilities and sensor technology. The growing demand and ongoing technological advancements are expected to further enhance the appeal and effectiveness of PERS, providing peace of mind for seniors and their families.

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Market Segmentation
By Type
• Standalone PERS
• Landline PERS
• Mobile PERS
By End-User
• Home-Based Users
• Assisted Living Facilities
• Nursing Homes
• Senior Living Facilities
• Hospice Care

Regional Analysis of The Personal Emergency Response System (PERS) Market
North America Dominates the Global Market of Personal Emergency Response System (PERS) And It Is Also Expected to Dominate the Market Over the Forecast Period.
North American Countries such as the United States are the ones having rapidly rising chronic diseases and also the greater older population, there are approximately 13.2 million hospitalizations for adults aged 65 years and older in the United States each year, which includes medical conditions (67%), surgeries (25%), injuries (6%), and mental health and substance use conditions (2%). Such a rising number of hospitalisations and adults having movement restrictions or functional disabilities are driving the demand for Personal Emergency Response Systems in North America.

Geographic Segment Covered in the Report
• North America (U.S., Canada, Mexico)
• Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
• Western Europe (Germany, U.K., France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
• Asia-Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Bahrain, Kuwait, Qatar, UAE, Israel, South Africa)
• South America (Brazil, Argentina, Rest of SA)

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Key Industry Developments in the Personal Emergency Response System (PERS) Market
In November 2022, MedScope Limited, a leading provider of full-service, customizable personal emergency response systems (PERS) services, announced the release of its new product Mini Lite, a medical alert device. This new wearable device is the lightest and smallest PERS device on the market weighing less than an ounce. The new Mini Lite is designed for comfort with a sleek and shower-proof design and it is also equipped with the option of advanced fall-detection technology to help care managers better serve their members.

In June 2021, Medical Guardian, a leader in connected care and personal emergency response systems provider announced its collaboration with BLACK+DECKER to support the new goViaTM collection of personal emergency response systems (PERS) that are specially designed to promote confident mobility for active older Americans. The goVia product line is the first product category for BLACK+DECKER Health dedicated to providing innovative consumer health and wellness solutions.'

Table Of Content:
Chapter 1: Introduction
 1.1 Research Objectives
 1.2 Research Methodology
 1.3 Research Process
 1.4 Scope and Coverage
  1.4.1 Market Definition
  1.4.2 Key Questions Answered
 1.5 Market Segmentation

Chapter 2:Executive Summary

Chapter 3:Growth Opportunities By Segment
 3.1 By Type
 3.2 By End-User

Chapter 4: Market Landscape
 4.1 Porter's Five Forces Analysis
  4.1.1 Bargaining Power of Supplier
  4.1.2 Threat of New Entrants
  4.1.3 Threat of Substitutes
  4.1.4 Competitive Rivalry
  4.1.5 Bargaining Power Among Buyers
 4.2 Industry Value Chain Analysis
 4.3 Market Dynamics
  4.3.1 Drivers
  4.3.2 Restraints
  4.3.3 Opportunities
  4.5.4 Challenges
 4.4 Pestle Analysis
 4.5 Technological Roadmap
 4.6 Regulatory Landscape
 4.7 SWOT Analysis
 4.8 Price Trend Analysis
 4.9 Patent Analysis
 4.10 Analysis of the Impact of Covid-19
  4.10.1 Impact on the Overall Market
  4.10.2 Impact on the Supply Chain
  4.10.3 Impact on the Key Manufacturers
  4.10.4 Impact on the Pricing

Chapter 5: Personal Emergency Response System (PERS) Market by Type
 5.1 Personal Emergency Response System (PERS) Market Overview Snapshot and Growth Engine
 5.2 Personal Emergency Response System (PERS) Market Overview
 5.3 Standalone PERS
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size (2016-2028F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Standalone PERS: Geographic Segmentation
 5.4 Landline PERS
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size (2016-2028F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 Landline PERS: Geographic Segmentation
 5.5 Mobile PERS
  5.5.1 Introduction and Market Overview
  5.5.2 Historic and Forecasted Market Size (2016-2028F)
  5.5.3 Key Market Trends, Growth Factors and Opportunities
  5.5.4 Mobile PERS: Geographic Segmentation

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Chapter 6: Personal Emergency Response System (PERS) Market by End-User
 6.1 Personal Emergency Response System (PERS) Market Overview Snapshot and Growth Engine
 6.2 Personal Emergency Response System (PERS) Market Overview
 6.3 Home-Based Users
  6.3.1 Introduction and Market Overview
  6.3.2 Historic and Forecasted Market Size (2016-2028F)
  6.3.3 Key Market Trends, Growth Factors and Opportunities
  6.3.4 Home-Based Users: Geographic Segmentation
 6.4 Assisted Living Facilities
  6.4.1 Introduction and Market Overview
  6.4.2 Historic and Forecasted Market Size (2016-2028F)
  6.4.3 Key Market Trends, Growth Factors and Opportunities
  6.4.4 Assisted Living Facilities: Geographic Segmentation
 6.5 Nursing Homes
  6.5.1 Introduction and Market Overview
  6.5.2 Historic and Forecasted Market Size (2016-2028F)
  6.5.3 Key Market Trends, Growth Factors and Opportunities
  6.5.4 Nursing Homes: Geographic Segmentation
 6.6 Senior Living Facilities
  6.6.1 Introduction and Market Overview
  6.6.2 Historic and Forecasted Market Size (2016-2028F)
  6.6.3 Key Market Trends, Growth Factors and Opportunities
  6.6.4 Senior Living Facilities: Geographic Segmentation
 6.7 Hospice Care
  6.7.1 Introduction and Market Overview
  6.7.2 Historic and Forecasted Market Size (2016-2028F)
  6.7.3 Key Market Trends, Growth Factors and Opportunities
  6.7.4 Hospice Care: Geographic Segmentation
To Be Continued….

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https://introspectivemarketresearch.com/reports/surgical-sinks-market/
https://introspectivemarketresearch.com/reports/bioinformatics-market/

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About us:
Introspective Market Research (introspectivemarketresearch.com) is a visionary research consulting firm dedicated to assisting our clients to grow and have a successful impact on the market. Our team at IMR is ready to assist our clients to flourish their business by offering strategies to gain success and monopoly in their respective fields. We are a global market research company, that specializes in using big data and advanced analytics to show the bigger picture of the market trends. We help our clients to think differently and build better tomorrow for all of us. We are a technology-driven research company, we analyze extremely large sets of data to discover deeper insights and provide conclusive consulting. We not only provide intelligence solutions, but we help our clients in how they can achieve their goals.

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