Personal Emergency Response Systems (PERS) - Market Insights, Competitive Landscape, and Market Forecast - 2030

Personal Emergency Response Systems (PERS)/Medical Alert Systems Market By Product Type (Mobile And Landline), By End-User (Hospital, Home Care, And Assisted Living Facilities), and by geography is expected to grow at a steady CAGR forecast till 2027 owing to rise in geriatric population and increasing prevalence of falls in older adults.

Personal Emergency Response Systems (PERS)/Medical Alert Systems Market Dynamics:

One of the main drivers which impact the demand of the PERS market positively is the rise in the geriatric population. For instance, according to World Health Organization (WHO) published data in the year 2021, it was estimated that between the years 2015-2050 people of age 60 and above will be doubled from 12-22% and will reach 2.1 billion by 2050. Further, by 2030, 1 in 6 people in the world will age 60 years or above. The number of people aged 80 years or older is expected to get triple between the years 2020 to 2050 to reach 426 million. Therefore, with aging chances of falls increase, and this can increase the demand for PERS, thereby propelling the growth of the PERS market during the forecast period (2022-2027).

Moreover, another key factor that is responsible for the growth of the PERS market is the surge in PERS or medical alert system products launched. For instance, in January 2021, CVS Health announced a medical alert system named symphony, which was designed to keep senior citizens safe and connected at home. It consists of a collection of in-home as well as wearable devices that monitor falls, motion, and room temperature 24/7.

Additionally, in January 2020, LifeStation launched a mobile medical alert system for aging seniors and caregivers. It contains a combination of GPS, wi-fi, Bluetooth, and mobile LTE delivering accurate pinpoint location even indoors, enabling LifeStation care specialists to deliver faster and better service. Thus, these technological advancements in the product offering of PERS would result in the rising PERS demand.

Therefore, the factors stated above collectively will drive the overall Personal Emergency Response Systems (PERS)/Medical Alert Systems market during the forecast period from 2022-2027.

However, lack of awareness about the utilization of PERS and difficulty in using home-based (landline) PERS as they are not portable, can hamper the global Personal Emergency Response Systems (PERS)/Medical Alert Systems market growth.

Additionally, the COVID-19 pandemic has slightly impacted the PERS market. The nationwide lockdown in almost every country, movement restrictions for non-essential goods, and unavailability of the workforce at the production sites hampered the manufacturing rate due to which there was a product shortage in the market. However, PERS technology preferably could have been used for monitoring the health of COVID-19 patients, the report of the patient is sent to the doctor/caretaker via cloud computing network to analyze the problem as well as it also reduces the direct contact between the patient and caretaker during the pandemic era. Thus, with the masses being vaccinated, relaxation in lockdown restrictions, and resumption of supply chains, logistics, and manufacturing units, the PERS market has picked momentum and is expected to further grow during the forecast period (2022-2027).

Personal Emergency Response Systems (PERS)/Medical Alert Systems Market Segment Analysis:

Personal Emergency Response Systems/Medical Alert Systems Market by Product Type (Mobile and Landline), End-User Type (Hospital, Home Care, and Assisted Living Facilities), and Geography (North America, Europe, Asia-Pacific, and Rest of the World by product type segment of the PERS market, mobile PERS are expected to hold a significant revenue share in the year 2021 as they are more advanced. The other key attributes which support the market growth are, they are portable that can be connected to wireless/cellular network to send an alert for help, have GPS in them which is used to address the correct location in case of emergency, they are water-resistant, have independent batteries for power, are wearable as it comes in the form of a pendant, smartwatch, and others which can be worn indoors/outdoors to detect the fall of senior citizens, patient and disabled person. Therefore, the benefits associated with mobile PERS would increase its demand in the market which will promote the growth of the overall global PERS market during the forecast period (2022-2027).

However, the availability of technologically advanced medical alert systems in the market is also driving market growth. For instance, in October 2020, MobileHelp introduces its next-generation fall button pendant, it automatically detects falls and calls for help, even if the user is not able to press the emergency button.

Moreover, in October 2020, MobileHelp announced its new product “the micro” this all-in-one medical alert device is wearable with its compact size & weight as well as can detect falls in the correct location in an emergency.

Therefore, due to the interplay of all the factors mentioned above, this can result in the rising demand for Personal Emergency Response Systems (PERS)/Medical Alert Systems, which in turn would provide a conducive growth environment for overall Personal Emergency Response Systems (PERS)/Medical Alert Systems during the market forecast 2022-2027.

North America is expected to dominate the overall Personal Emergency Response Systems (PERS)/Medical Alert Systems Market:

Among all the regions, North America is expected to dominate the global Personal Emergency Response Systems (PERS)/Medical Alert Systems market in the year 2021 and is expected to do the same during the forecast period from 2022-2027. Factors such as the increasing prevalence of falls in older adults and the increasing prevalence of chronic diseases such as Alzheimer's disease (AD) are expected to increase the demand for PERS in the North America market.

According to the latest statistics published by the Centers for Disease Control and Prevention (CDC) in the year 2020, in the United States, about 1 in 4 adults (28%) adults aged 65 & above falling each year, which results in 36 million falls each year but not all falls results in injury. Additionally, as per the above-referenced data and statistics, about 37% of those falls are reported in injury which results in approximately 8 million fall injuries. Moreover, as older adults have a high risk of falling, factors that can be responsible for falls in older adults can be body weakness, vision problems, and difficulty in walking & balancing, among others. Additionally, some health conditions such as heart disease, diabetes, and others can also contribute to falls. Therefore, PERS is used to detect falls and reduce the risk related to them, by pressing an emergency button which can provide senior citizens/patients with immediate help from falls, this can increase the demand for PERS, which in turn could provide a conducive growth environment for North America region in PERS market.

Furthermore, another factor responsible for the growth of the PERS market can be the increasing prevalence of Alzheimer's disease (AD). For instance, as per the latest data published by CDC in the year 2020, in the United States, 5.8 million people were living with AD, beyond the age of 65 number of people living with the disease doubles every 5 years, and the number of people will be project to nearly triple to 14 million by the year 2060. Moreover, a person with AD can result in memory loss. PERS have features for caregivers such as GPS in PERS help to address the location of people with AD, with the help of smartphones as they can get emergency call notifications, can make direct calls in-home PERS, help to detect the person's fall as well as when the help button is pressed notifications for home temperature, location, and movement of person can be received. Thus, the increasing prevalence of AD increases the demand for PERS, which can increase the demand for PERS in the North America overall market.

Therefore, the interplay of the aforementioned factors above would provide a conducive growth environment for the North American region in the Personal Emergency Response Systems (PERS)/Medical Alert Systems market.

Personal Emergency Response Systems (PERS)/Medical Alert Systems Market Key Players:

Some of the key market players operating in the Personal Emergency Response Systems (PERS)/Medical Alert Systems Market include Cape Cod Healthcare Inc, Koninklijke Philips N.V, MedicAlert Foundation, Medical Guardian LLC, AlertOne Services LLC, ADT, Life Alert, Connect America, VRI, Tunstall Group, MobileHelp, Rescue Alert, Best Buy, Bay Alarm Medical LLC, Aerotel Medical Systems Ltd Appello, GUARDIAN ALARM, LifeFone Medical Alert Services, LifeStation Inc, LogicMark, LLC, among others.

Recent Developmental Activities in the Personal Emergency Response Systems (PERS)/Medical Alert Systems Market:

• In January 2021, SOS Anywhere, a new technology company launched a new PERS for senior citizens named SOS anywhere mobile medical alert system.
• In February 2020, Best Buy Health launched its new Lively app and medical alert device, the Lively Wearable2 designed to help older adults live safely, actively, and independently
• In December 2019, Arvi, a health-tech firm launched a smart medical alert system for senior citizens in India

Key Takeaways from the Personal Emergency Response Systems (PERS)/Medical Alert Systems Market Report Study:

• Market size analysis for current Personal Emergency Response Systems (PERS)/Medical Alert Systems Market (2021), and market forecast for 5 years (2022-2027)
• The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the Personal Emergency Response Systems (PERS)/Medical Alert Systems Market
• Top key product/services/technology developments, mergers, acquisitions, partnerships, and joint ventures happened over the last 3 years
• Key companies dominating the global Personal Emergency Response Systems (PERS)/Medical Alert Systems market.
• Various opportunities available for the other competitor in the Personal Emergency Response Systems (PERS)/Medical Alert Systems Market space.
• What are the top-performing segments in 2021? How these segments will perform in 2027.
• Which are the top-performing regions and countries in the current Personal Emergency Response Systems (PERS)/Medical Alert Systems Market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for Personal Emergency Response Systems (PERS)/Medical Alert Systems Market growth in the coming future?

Target Audience who can be benefited from this Personal Emergency Response Systems (PERS)/Medical Alert Systems Market Report Study:

• Personal Emergency Response Systems (PERS)/Medical Alert Systems products providers
• Research organizations and consulting companies
• Personal Emergency Response Systems (PERS)/Medical Alert Systems-related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and traders dealing in Personal Emergency Response Systems (PERS)/Medical Alert Systems
• Various end-users who want to know more about the Personal Emergency Response Systems (PERS)/Medical Alert Systems Market and the latest technological developments in the Personal Emergency Response Systems (PERS)/Medical Alert Systems

Frequently Asked Questions for Personal Emergency Response Systems (PERS)/Medical Alert Systems Market:

1. What are Personal Emergency Response Systems (PERS)/Medical Alert Systems?

Personal Emergency Response Systems (PERS), also known as Medical Alert Systems, are used to call for help in an emergency by pushing a button. A PERS has three components: a small radio transmitter, a console connected to the telephone, and an emergency response center that monitors calls.

2. What is the market for Global Personal Emergency Response Systems (PERS)/Medical Alert Systems?

The global Personal Emergency Response Systems (PERS)/Medical Alert Systems market was valued at USD 6,602.01 million in 2021, growing at a CAGR of 9.60% during the forecast period from 2022 to 2027 to reach USD 11,425.98 million by 2027.

3. What are the drivers for the Global Personal Emergency Response Systems (PERS)/Medical Alert Systems?

The PERS market is witnessing positive market growth owing to the factors such as a rise in the geriatric population, an increase in the prevalence of falls in older adults, the surge in PERS or medical alert system products launched, and an increasing prevalence of chronic diseases such as Alzheimer's disease (AD), and improvements in healthcare infrastructure facilities.

4. Who are the key players operating in the Personal Emergency Response Systems (PERS)/Medical Alert Systems?

Some of the key market players operating in the PERS market include Cape Cod Healthcare Inc, Koninklijke Philips N.V, MedicAlert Foundation, Medical Guardian LLC, AlertOne Services LLC, ADT, Life Alert, Connect America, VRI, Tunstall Group, MobileHelp, Rescue Alert, Best Buy, Bay Alarm Medical LLC, Aerotel Medical Systems Ltd Appello, GUARDIAN ALARM, LifeFone Medical Alert Services, LifeStation Inc, LogicMark, LLC, among others.

5. Which region has the highest share in Personal Emergency Response Systems (PERS)/Medical Alert Systems?

North America is expected to dominate the global PERS market. Factors contributing to the growth are the increasing prevalence of falls in older adults and the increasing prevalence of chronic diseases such as Alzheimer's Disease (AD) are contributing to the growth of the PERS market in the North America region.