Medical Alert Systems Global Market Report 2024

A medical alert system, also known as a personal emergency response system (PERS) or fall button, is a device that integrates communication and computer technologies. These systems are designed to provide seniors and individuals with health issues the ability to age in place while ensuring their safety and peace of mind. The medical alert system allows users to call for help at the push of a button, contributing to a sense of security.

The main types of medical alert systems include hardware and services. Hardware refers to the physical components used to operate the medical alert system, such as a console unit, transmitter, battery, and other tangible elements that complete the system. Various types of systems in medical alert systems include personal emergency response systems (PERS), nurse calling systems (NCS), and smart belts, incorporating technologies like two-way voice systems, medical alert alarm buttons, and IP-based systems. These systems are distributed through channels such as pharmacies, online sales, and hypermarkets. Medical alert systems find applications in home-based settings, senior living facilities/senior care centers, assisted living facilities, hospitals and clinics, among other contexts.

The medical alert systems market research report is one of a series of new reports that provides medical alert systems market statistics, including global medical alert systems market size, regional shares, competitors with a medical alert systems market share, detailed medical alert systems market segments, market trends and opportunities, and any further data you may need to thrive in the medical alert systems industry. This medical alert systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The medical alert systems market size has grown rapidly in recent years. It will grow from $10.42 billion in 2023 to $11.55 billion in 2024 at a compound annual growth rate (CAGR) of 10.8%. The expansion observed in the historical period can be attributed to several factors, including the prevalence of chronic health conditions, an aging population, developments in healthcare infrastructure, government initiatives supporting healthcare, and the increasing adoption of telehealth services.

The medical alert systems market size is expected to see rapid growth in the next few years. It will grow to $17.26 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%. The projected growth in the forecast period can be attributed to various factors, including the desire for independent living among seniors, potential medical cost savings, improved access to healthcare in rural areas, the development of personalized emergency plans, and addressing issues related to elderly social isolation. Key trends expected in this period include the integration of Internet of Things (IoT) and wearables, the application of blockchain for health data security, the use of voice-activated systems, the implementation of artificial intelligence (AI) for predictive care, and the advancement of fall detection technology.

The anticipated growth in the government's focus on enhancing healthcare infrastructure is poised to drive the expansion of the medical alert systems market in the foreseeable future. These systems play a crucial role in medical emergency response, even within healthcare facilities such as nursing homes or assisted living facilities. Understanding how medical alerts can be utilized in healthcare settings is essential, as accidents and emergencies can occur despite round-the-clock care. For example, as of June 2023, the Centers for Medicare & Medicaid Services reported a 2.7% increase in healthcare expenditures in the United States, reaching a total of $4.3 trillion, equivalent to $12,914 per capita. This represents 18.3% of the nation's gross domestic product. Therefore, the heightened government focus on improving healthcare infrastructure is anticipated to provide impetus to the growth of the medical alert systems market in the forecast period.

The projected growth in the geriatric population is expected to be a significant driver for the medical alert systems market. As the segment of the population consisting of older adults (typically aged 65 and above) expands, medical alert systems become increasingly crucial for ensuring the safety and immediate assistance of this demographic. These systems facilitate independent living while offering swift access to emergency help, contributing to the overall well-being and peace of mind of the elderly. For instance, by October 2022, the World Health Organization reported that globally, 1 in 6 individuals would be 60 or older by 2030, and the number of elderly people is expected to reach 2.1 billion by 2050. Consequently, the growing geriatric population is a driving force behind the growth of the medical alert systems market.

Technological advancements are emerging as a prominent trend in the medical alert systems market, with major companies incorporating innovative solutions such as the Micro, a mobile medical alert device, to maintain their competitive edge. In January 2022, Essence Group, an IoT-based remote care solutions company in the United States, introduced Umbrella, the world's first 5G-enabled mobile Personal Emergency Response System (mPERS) device. Umbrella is a compact device integrated with Essence's multi-service cloud, offering enhanced personal safety and care for various remote and outdoor settings.

Major players in the medical alert systems market are intensifying their efforts to introduce Bluetooth-connected systems, wearable or portable devices equipped with Bluetooth technology that enable users to seek help in emergencies or medical situations. For instance, in January 2023, FallCall Solutions, a U.S.-based technology company, collaborated with HSC Technology Group, an Australia-based technology company, to launch an iPhone and Android-based medical alert system in Australia. This collaborative effort combines the HSC Talius Smart Care System, advanced Bluetooth medical alert devices, and the FallCall application, seamlessly integrating them with users' iPhones or Android devices for enhanced functionality and convenience.

In April 2022, Advocate Aurora Enterprises, a U.S.-based integrated health systems provider, completed the acquisition of MobileHelp for an undisclosed amount. This strategic move aims to enable Advocate Aurora to access cutting-edge approaches beyond conventional clinical care, investing in solutions complementary to its clinical offerings, and advancing its mission of promoting whole-person health. MobileHelp, a U.S.-based healthcare technology company, specializes in portable personal emergency response systems.

Major companies operating in the medical alert systems market include Koninklijke Philips N.V., Connect America Holdings LLC, ADT Inc., Bay Alarm Medical Company, VRI Inc., Ascom Wireless Solutions Holding AG, ADT Corporation, Medical Guardian LLC, Hill-Rom Holdings Inc., MobileHelp LLC, LifeFone Medical Alert Services, Tunstall Group Holdings Ltd., Alertone Services LLC, GreatCall Inc., Rescue Alert, LogicMark LLC, Nortek Security and Control LLC, Galaxy Medical Alert Systems Ltd., Guardian Alarm Company, Legrand Assisted Living & Healthcare Inc., LifeStation Inc., Guardian Medical Monitoring LLC, Life Alert Emergency Response Inc., Medical Care Alert LLC, MedicAlert Foundation, ResponseLINK LLC, Vital Link Inc., LifeCall Inc., LifeWatch USA LLC, LifeWise Health Plan of Oregon Inc., MedScope America Corp., Mytrex Inc., Senior Safety Medical Alert Systems LLC, Smart Caregiver Corporation

Asia-Pacific was the largest region in the medical alert systems market in 2023, and it is also expected to be the fastest-growing region in the forecast period. The regions covered in the medical alert systems market research report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the medical alert systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

The medical alert system market consists of sales of mobilehelp classic, medical alert home system, bay alarm medical in-home medical alert and medical care alert home medical alert system. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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