The medical alert systems market is expected to grow from USD 6.8 billion in 2021 to USD 11.1 billion by 2026; it is expected to grow at a CAGR of 10.3 % during the forecast period.
Philips (Netherlands) ,Connected America (US) ,Valued Relationships (US) ,Medical Guardian (US) ,ADT (US) Guardian Alarm (US), Bay Alarm Medical (US), MobileHelp (US), Alert1 (US), and LifeFone (US) are among the key players operating in the medical alert systems market.
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Market Dynamics:
Driver: Increasing geriatric population globally along with the high level of health literacy among older people
Restraint: Stringent regulatory processes and increased testing requirements for product approval
Opportunity: Revolution brought by emerging technologies such as IoT and AI
Challenge: Supply chain disruptions caused due to outbreak of COVID-19
Market Segmentation:
1. Mobile based PERS in product segment for medical alert systems market to grow with highest CAGR during the forecast period.
2. Wireless connection type to have the largest size during the forecast period.
3. Home based users are expected to capture the largest market share during the forecast period.
4. Medical Alert Systems Market in APAC to grow with highest CAGR during the forecast period.
Medical Alert Systems Market, by Geography
North America (US, Canada, and Mexico)
Europe (UK, Germany, France, Italy, Spain, and Rest of Europe)
APAC (China, Japan, South Korea, India, Australia, and Rest of APAC)
RoW (South America, and Middle East and Africa)
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