The report on the global medical alert system market provides qualitative and quantitative analysis for the period from 2021-2030. The revenue generated by the medical alert system market was USD 9.54 billion in 2022 and is expected to reach USD 15.9 billion in 2030 and is expected to grow with a CAGR of 5.74% over the forecast period 2022-2030. The study on medical alert system market covers the analysis of the leading geographies such as North America, Europe, Asia Pacific, and RoW for the period of 2021-2030.
In today’s era, a system needs to monitor patients’ heart rate and body temperature continually and send an alert when readings are out of range to ensure health care is always provided on time. People with health conditions like coronary heart disease, diabetes, and more and senior citizens need 24-hour monitoring; hence the medical alert system is made. A medical alert system is a wearable device that monitors a user’s heart rate and temperature anywhere. Furthermore, this device contains sensors like temperature sensors and pulse sensors used to measure the respective values and display them on an LCD screen for the user to see. Additionally, these values are sent to an application on an Android device via Bluetooth and when the measured values are abnormal, the alert is sent to confidence. The medical alert system encompasses a wide range of medical devices such as Personal Emergency Response Systems (PERS), Nurse Call Systems (NCS), Ambulatory Auto Alert Systems, Automated Airborne Flight Alert Systems, and others, which also have additional safety features like smoke alert, carbon monoxide monitoring and others that help medical staff to understand the surrounding to face any situation.
The rising numbers of people having health-related conditions are expected to propel the market's growth during the forecast period. For instance, the WHO reports that nearly 37.3 million people have health risk conditions every year and around 646,000 people die each year due to such health conditions across the globe. The WHO also states that this trend is anticipated to continue; hence the need for a medical alert system is expected to grow in the near future. Additionally, it has become imperative for family members of senior citizens to track their location, monitor their activities, and remind them about medication. Therefore, the demand for personal emergency response systems is rising, which boosts the market's growth. On the other hand, the regulatory authorities, such as the Medicines and Healthcare Products Regulatory Agency (MHRA), have made the regulatory processes more strict and increased testing requirements for the approval of new products. Such legislation can hamper the growth of the market during the forecast period. Nevertheless, the medical alert systems can help the telemedicine platform, which is expected to be the future of medical science in upcoming years; hence this will create tremendous growth opportunities for the market.
The medical alert system market is segmented into North America, Europe, Asia Pacific, and the rest of the world. The Asia Pacific region is expected to dominate the medical alert system market due to various healthcare reforms undertaken by the government in countries like China, South Korea, and India. Also, these countries have a significant elderly population, due to which the demand for medical alert devices is high in the region. The major factors driving the market's growth in the Asia Pacific region are rising healthcare awareness and increasing per capita expenditure on healthcare. Also, the people in the region found the PERS monitoring system very affordable; hence the demand for PERS for older adults is also rising. Furthermore, there is growing medical tourism in developing countries like India & China, which will provide new market opportunities for advanced medical alert systems in upcoming years. Moreover, the countries in the APAC region are demanding quality medical care, which is expected to boost the growth of the market in the region.
1. Key Opinion Leaders
2. Internal and External subject matter experts
3. Professionals and participants from the industry
2. Product/brand/marketing managers
3. CXO level executives
4. Regional/zonal/ country managers
5. Vice President level executives.
2. Government/institutional publications
3. Trade and associations journals
4. Databases such as WTO, OECD, World Bank, and among others.
5. Websites and publications by research agencies
2. Complete coverage of all the segments in the medical alert system market to analyze the trends, developments in the global market and forecast of market size up to 2030.
3. Comprehensive analysis of the companies operating in the global medical alert system market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and latest developments of the company.
4. Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.
In today’s era, a system needs to monitor patients’ heart rate and body temperature continually and send an alert when readings are out of range to ensure health care is always provided on time. People with health conditions like coronary heart disease, diabetes, and more and senior citizens need 24-hour monitoring; hence the medical alert system is made. A medical alert system is a wearable device that monitors a user’s heart rate and temperature anywhere. Furthermore, this device contains sensors like temperature sensors and pulse sensors used to measure the respective values and display them on an LCD screen for the user to see. Additionally, these values are sent to an application on an Android device via Bluetooth and when the measured values are abnormal, the alert is sent to confidence. The medical alert system encompasses a wide range of medical devices such as Personal Emergency Response Systems (PERS), Nurse Call Systems (NCS), Ambulatory Auto Alert Systems, Automated Airborne Flight Alert Systems, and others, which also have additional safety features like smoke alert, carbon monoxide monitoring and others that help medical staff to understand the surrounding to face any situation.
The rising numbers of people having health-related conditions are expected to propel the market's growth during the forecast period. For instance, the WHO reports that nearly 37.3 million people have health risk conditions every year and around 646,000 people die each year due to such health conditions across the globe. The WHO also states that this trend is anticipated to continue; hence the need for a medical alert system is expected to grow in the near future. Additionally, it has become imperative for family members of senior citizens to track their location, monitor their activities, and remind them about medication. Therefore, the demand for personal emergency response systems is rising, which boosts the market's growth. On the other hand, the regulatory authorities, such as the Medicines and Healthcare Products Regulatory Agency (MHRA), have made the regulatory processes more strict and increased testing requirements for the approval of new products. Such legislation can hamper the growth of the market during the forecast period. Nevertheless, the medical alert systems can help the telemedicine platform, which is expected to be the future of medical science in upcoming years; hence this will create tremendous growth opportunities for the market.
The medical alert system market is segmented into North America, Europe, Asia Pacific, and the rest of the world. The Asia Pacific region is expected to dominate the medical alert system market due to various healthcare reforms undertaken by the government in countries like China, South Korea, and India. Also, these countries have a significant elderly population, due to which the demand for medical alert devices is high in the region. The major factors driving the market's growth in the Asia Pacific region are rising healthcare awareness and increasing per capita expenditure on healthcare. Also, the people in the region found the PERS monitoring system very affordable; hence the demand for PERS for older adults is also rising. Furthermore, there is growing medical tourism in developing countries like India & China, which will provide new market opportunities for advanced medical alert systems in upcoming years. Moreover, the countries in the APAC region are demanding quality medical care, which is expected to boost the growth of the market in the region.
Report Findings
1) Drivers
- The rising numbers of people having health-related conditions are expected to propel the market's growth during the forecast period.
- Growing awareness of personal safety and healthcare contributes to market growth.
2) Restraints
- Concerns over data security and privacy may hinder market adoption.
3) Opportunities
- Advancements in IOT and connectivity open avenues for innovative and integrated solutions.
Research Methodology
A) Primary Research
The primary research involves extensive interviews and analysis of the opinions provided by the primary respondents. The primary research starts with identifying and approaching the primary respondents, the primary respondents are approached include1. Key Opinion Leaders
2. Internal and External subject matter experts
3. Professionals and participants from the industry
The primary research respondents typically include
1. Executives working with leading companies in the market under review2. Product/brand/marketing managers
3. CXO level executives
4. Regional/zonal/ country managers
5. Vice President level executives.
B) Secondary Research
Secondary research involves extensive exploring through the secondary sources of information available in both the public domain and paid sources. Each research study is based on over 500 hours of secondary research accompanied by primary research. The information obtained through the secondary sources is validated through the crosscheck on various data sources.The secondary sources of the data typically include
1. Company reports and publications2. Government/institutional publications
3. Trade and associations journals
4. Databases such as WTO, OECD, World Bank, and among others.
5. Websites and publications by research agencies
Segment Covered
The global medical alert system market is segmented on the basis of type, technology, application, and distribution channel.The Global Medical Alert System Market by Type
- Personal Emergency Response System (PERS)
- Nurse Calling System (NCS)
- Smart Belt
- Others
The Global Medical Alert System Market by Technology
- Two-way Voice Systems
- Unmonitored Medical Alert Systems
- Medical Alert Alarm (Button) System
- IP-based Systems
The Global Medical Alert System Market by Application
- Home Based Users
- Senior Living Facilities
- Hospitals and Clinic
- Others
The Global Medical Alert System Market by Distribution Channel
- Pharmacies
- Online Sales
- Hypermarkets
Company Profiles
The companies covered in the report include- Koninklijke Philips N.V.
- Connect America
- Valued Relationships, Inc. (VRI)
- Medical Guardian LLC
- ADT
- Guardian Alarm
- Bay Alarm Medical
- MobileHelp
- AlertONE Service Inc.
- LifeFone Medical Alert Services
What does this Report Deliver?
1. Comprehensive analysis of the global as well as regional markets of the medical alert system market.2. Complete coverage of all the segments in the medical alert system market to analyze the trends, developments in the global market and forecast of market size up to 2030.
3. Comprehensive analysis of the companies operating in the global medical alert system market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and latest developments of the company.
4. Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.
This product will be delivered within 1-3 business days.
Table of Contents
Chapter 1. Preface
Chapter 2. Executive Summary
Chapter 3. Global Medical Alert System Market Overview
Chapter 5. Company Profiles and Competitive Landscape
Chapter 6. Global Medical Alert System Market by Type
Chapter 7. Global Medical Alert System Market by Technology
Chapter 8. Global Medical Alert System Market by Application
Chapter 9. Global Medical Alert System Market by Distribution Channel
Chapter 10. Global Medical Alert System Market by Region 2023-2030
Companies Mentioned
- Koninklijke Philips N.V.
- Connect America
- Valued Relationships, Inc. (VRI)
- Medical Guardian LLC
- ADT
- Guardian Alarm
- Bay Alarm Medical
- MobileHelp
- AlertONE Service Inc.
- LifeFone Medical Alert Services
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 300 |
| Published | May 2023 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value ( USD | $ 9.54 Billion |
| Forecasted Market Value ( USD | $ 15.9 Billion |
| Compound Annual Growth Rate | 5.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
