Personal Emergency Response System (PERS) Market by Type, End-user, and Geography - Forecast and Analysis 2023-2027

Personal Emergency Response System Market Forecast 2023-2027

The personal emergency response system market size is forecast to increase by USD 3.48 billion, at a CAGR of 7.94% between 2022 and 2027. Market expansion hinges on multiple factors, notably the burgeoning geriatric demographic, the escalating incidence of chronic ailments, and heightened investments in healthcare infrastructure. These elements collectively propel the market forward by addressing the evolving needs of an aging population, managing the rising burden of chronic diseases, and fostering robust healthcare facilities. The growing geriatric cohort drives demand for specialized medical services and products, while the prevalence of chronic diseases necessitates advanced treatments and care solutions. Simultaneously, increased investments in healthcare infrastructure enhance accessibility, affordability, and quality of healthcare services, fostering market growth. These interdependent factors underscore the dynamic nature of the healthcare sector and highlight the imperative of adapting to changing demographics and healthcare demands.

What will be the size of the Market During the Forecast Period?

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Market Segmentation

This report extensively covers market segmentation by type (mobile, landline, and standalone), end-user (home healthcare, assisted living facilities, and others), and geography (North America, Europe, Asia, and the Rest of the World). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report consists of historic market data from 2017 to 2021.

Market Dynamics

The market is driven by the increasing aging population and the rising prevalence of chronic diseases such as Alzheimer's, epilepsy, and multiple sclerosis. Technological advancements have led to the development of wearable devices like pendants and wristbands, contributing to the growth of the wearable health industry. However, challenges include ensuring waterproof designs for use in bathrooms, addressing connectivity issues in mobile devices, and enhancing the effectiveness of home healthcare devices in emergency situations. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Market Driver

The growing geriatric population is notably driving the market growth. The geriatric population is susceptible to diseases such as osteoarthritis, chronic obstructive pulmonary disease, and diabetes mellitus as their immune system becomes weak with increasing age. The elderly require care in their homes, irrespective of the care they receive in hospitals. However, staying at home carries potential risks of accidents such as falls, sudden trauma, and strokes. Due to the independent lifestyles led by the older population, particularly in developed countries, they are not willing to be dependent on their families.

Moreover, technological advances are enabling consumers and caretakers to manage risks at home by implementing sophisticated devices, including personal emergency response systems and other devices such as medication care management, home safety, activity sensors, and location-based solutions. Traveling large distances is a primary concern for older individuals because of age-related health issues. In this case, the value-added advantage of connected health solutions, such as personal emergency response systems for elderly individuals, enables them to send an alarm during times of uncertainty. This enables hospital attendants to facilitate remote patient monitoring or assist them at home if required. This reduces the cost of traveling to hospitals while ensuring the administration of proper care to patients. Therefore, these factors are expected to drive the PERS market during the forecast period.

Significant Market Trend

Advances in personal emergency response systems are emerging trends in the market. In the last five years, personal emergency response systems have witnessed several technological advances. First, there was a shift from analog equipment to digital equipment, and now the devices have moved from wired systems to wireless systems. The effective features of these systems have increased their adoption by various healthcare organizations. Moreover, market players have undertaken multiple research projects to refine and redesign their personal emergency response system devices to enhance their efficiency.

Moreover, market players are also developing devices with wireless messaging, automatic location identification, and management reporting applications to help optimize staff efficiency and workflow. The user of mobile personal emergency response systems must wear the mobile device, such as a pendant or wristband, at all times so that they can alert in case of emergency by activating the alert button. Another development is the voice-activated personal emergency response system. market players have developed personal emergency response systems that can activate the alert button through a vocal command. Hence, such advances in technology will fuel the growth of the PERS market during the forecast period.

Major Market Challenge

The lack of awareness is a major challenge impeding market growth. Many healthcare organizations still use traditional methods, such as ordinary electric bells or alarms, as a line of communication between the patient and the nurse. This is mainly due to the limited budget of these organizations. In these cases, the call alert alarm does not reflect the significance of the patient's call (i.e., whether it is an emergency or an ordinary call).

Moreover, in many developing countries, due to the low affordability and availability of personal emergency response systems, as well as a lack of awareness about their use and maintenance, the adoption rate tends to be low. In addition, some countries in Asia and Africa have inadequate healthcare infrastructure. For instance, according to the International Finance Corporation (IFC), Africa has the most inadequate healthcare infrastructure and requires healthcare investment of about USD 25 - USD 35 billion to meet the infrastructural demand. Furthermore, the region lacks the availability of an optimum number of healthcare practitioners. Thus, such factors are hampering the sales of personal emergency response systems, which will restrict the PERS market growth during the forecast period.

Key Market Customer Landscape

The market growth analysis includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Market Customer Landscape

Who are the Major Market Players?

market players are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

ATC Alert LLC - The company offers medical alarm systems such as the Umbrella alarm system, Base system, Anywhere alert, and Boogie LTE. The key offerings of the company include Personal Emergency Response System. 

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market market players, including:

• ADT INC.
• AlertONE service Inc.
• Bay Alarm Medical
• Best Buy Co. Inc.
• Cape Cod Healthcare Inc.
• Careline365
• ConnectAmerica LLC
• Electronic Caregiver Inc.
• Galaxy Medical Alert Systems Ltd.
• Honeywell International Inc.
• Koninklijke Philips NV
• Life Alert Emergency Response Inc.
• Medical Guardian LLP
• MedicAlert Foundation
• MobileHelp LLC

Qualitative and quantitative analysis of market players has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize market players as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize market players as dominant, leading, robust, tentative, and weak.

What is the Fastest-Growing Segment in the Market?

The market is a critical device designed to assist individuals during emergency situations such as falls, heart attacks, and other medical emergencies. These systems often come in the form of wearable devices like pendants or wristbands, leveraging technological advancements to provide immediate assistance. One of the key features of modern PERS is its global smartphone penetration, enabling connectivity and communication with mobile devices for rapid response. The wearable health industry has seen significant growth, with PERS systems being a vital component in ensuring the safety and well-being of users, especially the aging population and those with chronic diseases like Alzheimer's, epilepsy, and multiple sclerosis. Innovations in PERS have led to waterproof designs, making them suitable for environments like bathrooms where falls are common among elderly individuals. These home healthcare devices have been praised for their ability to provide immediate aid and alert emergency services when needed, as documented in publications like the Journal of Sensors.

The market share growth by the mobile segment will be significant during the forecast period. The mobile segment is the highest contributor to the global market in terms of revenue generation. Hospitals have been early adopters of the technology and have been reaping the benefits, thus encouraging the continued development of these products. 

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The mobile segment was valued at USD 2.52 billion in 2017 and continued to grow until 2021. Mobile devices include pendants, watches, and other wearable devices that can be worn by the user, and with just a press of a button, it can alert the caregiver in case of emergencies. The rising use of smartphones has also helped to increase the capabilities of personal emergency response systems. The integration of personal emergency response systems with smartphones has helped caregivers in tracking mobile devices and alerting them in case the mobile devices are not worn by users. Mobile personal emergency response systems make healthcare delivery more efficient, leading to faster response times. Hence,  these factors will boost the growth of the focused segment of the PERS market during the forecast period.

Which are the Key Regions for the Market?

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North America is estimated to contribute 51% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The market in North America is expected to grow at a moderate rate during the forecast period. In 2020, the US and Canada were the major revenue contributors to the regional market owing to the increasing incidences of chronic conditions and surgical cases, the rising product launches, the presence of both local and global companies, and the availability of public and private reimbursement policies on purchase of PERS system.

Moreover, the governments in this region are aggressively promoting effective healthcare services and have increased investment in healthcare facilities. Government agencies are encouraging the elderly population to adopt medical alert devices. For instance, the American Association of Retired Persons (AARP) strongly recommends elderly individuals use medical alert systems. Some market players, such as Connect America, MobileHelp, Bay Alarm Medical, and Life Station, provide discounts for AARP members on the purchase of medical alert systems. Such discounts and favorable policies are expected to increase the adoption of PERS systems in the region. Moreover, a significant rise in the number of hospitals and emergency care centers has also increased the sales of PERS systems across new healthcare settings. Therefore, the abovementioned factors will boost the regional market's growth during the forecast period. 

Segment Overview

The report forecasts market growth by revenue at global, regional & country levels and market research and growth of the latest market trends and growth opportunities from 2017 to 2027. 

• Type Outlook 
  • Mobile
  • Landline
  • Standalone

• End-user Outlook 
  • Home healthcare
  • Assisted living facilities
  • Others

• Region Outlook 
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia
    • China
    • India
  • Rest of World
    • Australia
    • Argentina
    • Brazil

Market Analyst Overview

The market is witnessing significant growth driven by various factors such as the increasing prevalence of medical emergencies like heart attacks among older adults. PERS devices play a crucial role in such situations by providing a reliable signal to a monitoring center, staffed with trained operators who can assess the situation and dispatch help promptly. These systems offer peace of mind to both users and their family members, ensuring quick assistance during critical times.

Technological advancements have led to the development of innovative PERS solutions, including transmitters, R-cube monitoring systems, standalone voice dialers, and wandering systems. The integration of GPS and cellular capabilities has enhanced the components of these devices, making them more effective in tracking and responding to emergencies, even for home-based users and those in nursing homes or senior living facilities.

The market is characterized by continuous new product launches, technological innovations, and contractual agreements between manufacturers and service providers. Additionally, the global smartphone penetration and the rise of the wearable health industry have contributed to the expansion of the PERS market. Waterproof designs, fall detection sensors, and AI integration further enhance the functionality and reliability of these systems, catering to the diverse needs of health-conscious people managing various medical conditions such as dementia, frailty, obesity, and hypertension.

Market Scope
Report Coverage	Details
Page number	162
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 7.94%
Market growth 2023-2027	USD 3.48 billion
Market structure	Fragmented
YoY growth 2022-2023(%)	6.82
Regional analysis	North America, Europe, Asia, and the Rest of the World (ROW)
Performing market contribution	North America at 51%
Key countries	US, UK, Germany, China, and Japan
Competitive landscape	Leading market players, Market Positioning of market players, Competitive Strategies, and Industry Risks
Key companies profiled	ADT INC., AlertONE service Inc., ATC Alert LLC, Bay Alarm Medical, Best Buy Co. Inc., Cape Cod Healthcare Inc., Careline365, ConnectAmerica LLC, Electronic Caregiver Inc., Galaxy Medical Alert Systems Ltd., Honeywell International Inc., Koninklijke Philips NV, Life Alert Emergency Response Inc., Medical Guardian LLP, MedicAlert Foundation, MobileHelp LLC, ModivCare Inc., Rescue Alert, TruSense LLC, and Tunstall Healthcare Group Ltd.
Market dynamics	Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the market between 2023 and 2027
• Precise estimation of the size of the market size and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market across North America, Europe, Asia, and Rest of World (ROW)
• A thorough market research report analysis of the market’s competitive landscape and detailed information about market players
• Comprehensive market growth and forecasting analysis of factors that will challenge the growth of market market players

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