Medical Alert Systems Market Size, Share And Growth Analysis For 2023-2026

The medical alert systems market size is projected to reach USD 11.1 billion by 2026 from USD 8.2 billion by 2023 it is expected to grow at a CAGR of 10.3 % during the forecast period.

The medical alert systems industry is expected to grow between 2021 and 2026 owing to the rising demand for personal health monitoring systems by home-based users and nurse call systems by hospitals and clinics due to COVID-19.

The medical alert systems market is witnessing a trend occurring over the past few years with the new technology replacing the traditional medical alert systems. Mobile-based PERS or mPERS are likely to lead the medical alert systems market in the coming years as the adoption of smartphones in recent years has increased to a great extent. mPERS come with smart wearables that can be worn on the wrist or as a necklace.

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Wireless medical alert systems are increasingly being adopted at present owing to the mobility and advancements in mPERS devices, as well as due to the rising adoption of smart devices. These factors have led to the development of wireless systems, accounting for a larger market share. Another factor for the larger market share of wireless medical alert systems is the surging demand for wireless systems by the elderly seniors who want to maintain an active lifestyle while securing themselves for emergencies. These factors have led to the high growth rate of wireless systems during the forecast period.

The APAC region is expected to record the highest CAGR  during the forecast period. This growth can be attributed to various healthcare reforms undertaken by the governments in countries such as China, India, and South Korea, with a significant size of the elderly population. The rising healthcare awareness and increasing per capita expenditure on healthcare are among a few major factors driving the market in APAC. PERS monitoring is much more affordable than in-person monitoring; hence,  caregivers find it better to take care of the elderly.

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 medical alert systems companies operating in the market.