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Market Scope
Market Research Future (MRFR) asserts that the medical alert systems market can capture a growth rate of 6.46% from 2017 to 2027. It is also expected that the market size can reach USD 17,293.6 Million by 2027.
Market Segmentation
Medical alert systems industry can be divided into system type, offering, connection type and technology.
System types considered in the market study are smart belt and ambulatory auto alert systems, nurse call systems (NCS), automated airborne flight alert systems, personal emergency response systems (PERS), and more. Between these, the highest gainer has been the PERS segment, which seized the maximum share of 41.9% in the year 2019 and is anticipated to grab a CAGR of 6.70% in the next few years.
Offering-based segments are software, services, and hardware. Hardware types are console unit, transmitter, battery, and more. Hardware segment generates the highest demand since this offering is easy to use and does not require any medical knowledge prior to its use.
The connection types studied in the MRFR report are wired and wireless connection. Wired or in-home medical alert system or devices own the biggest share in the industry as the demand among elderly patients has grown significantly in recent years.
Technologies available in the global industry are two-way voice systems, unmonitored medical alert systems, IP-based systems, medical alert alarm (button) systems, among others. There is no provision of monthly payments while using unmonitored medical alert systems and are therefore, noting high demand among monitoring companies.
Renowned Vendors
Tunstall Group (UK), AlertONE Service Inc. (US), Rescue Alert (US), Bay Alarm Medical (US), GreatCall (US), Life Alert Emergency Response Inc. (US), ADT (US), Koninklijke Philips NV (Philips) (Netherlands), Medical Guardian LLP (US), Nortek Security and Control (US), LogicMark (US), VRI (US) are some of the well-known companies in the medical alert systems industry.
Latest News
January 2021
CVS Health has unveiled a new Symphony medical alert system that assists caregivers in monitoring the well-being as well as safety of the patients, from any location. This new range of wearable and in-home devices connects a series of sensors that detect falls, temperature and motion while providing a constant personal emergency response platform. Symphony has been developed to back the soaring number of elderly patients preferring to stay at home and can prove to be quite useful for the caregivers as well.
Article source: https://article-realm.com/article/Sports-Recreation/13011-Medical-Alert-Systems-Market-Forecast-Status-Size-Top-Companies-Annual-2019-2027.html
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