MEDICAL ALERT SYSTEMS MARKET - GLOBAL INDUSTRY INSIGHTS, TRENDS, OUTLOOK, AND OPPORTUNITY ANALYSIS, 2016-2024
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Report Description Medical alert systems (MAS), also known as Personal Emergency Response System (PERS), are alarm systems designed to address any medical hazard or injury requiring immediate medical attention. Generally, medical alert systems are marketed with a wireless transmitter often designed as a pendant, which can be activated in a medical emergency. Disabled and elderly people who do not live with their family members are the major users of medical alert systems. Currently, the medical alert systems market is highly attractive due to rapidly aging population and increasing awareness and health alertness among people. Demand for Monitored Systems is high The global medical alert systems market comprise of devices with different functions and features on basis of which the cost varies. Therefore, based on the device type, technology and end-users the global medical alert systems market is analyzed as follows:
Type of medical alert systems: o Mobile o Landline o Standalone/Wall-Mounted Devices Medical alert system technologies: o Two-way voice systems o Unmonitored medical alert systems o Medical Alert Alarm (Button) System The only advantage of non-monitored MAS is that it does not require a monthly fee to be paid to the monitoring company as in the case of two-way voice system and Medical Alert Alarm (Button) System. The monitored MAS on the other hand, helps saving time in contacting or alerting the person required in help, doesn’t require updating non-monitored voice dialer, and helps receive the emergency help in less time than the non-monitored systems.
End-users of medical alert systems: o Senior care centers o Nursing homes o Old age homes o Hospitals o Individual patients With increasing awareness about the technology, demand among individual patients is growing rapidly. Browse Report: https://www.coherentmarketinsights.com/ongoing-insight/medical-alertsystems-market-38 Few MAS devices in the market: Life Alert, LifeStation, Medical Alert, Philips Lifeline, MobileHelp, Bay Alarm Medical, Alert1, Medical Guardian’s MAS and Rescue Alert. Developed Markets still not achieved Maturity for MAS
Developed economies such as the U.S., Canada, U.K., Germany and Japan experience high adoption rate of emergency alert systems from the large geriatric population. Moreover, due to high incidence rates of injuries due to fall from beds and upper bunks, the market for medical alert systems is expected to grow further in the developed regions. According to the Centers for Disease Control and Prevention (CDC), one in three senior citizen of age 65 fall down from bed and upper bunks each year, in the U.S., and 20% to 30% of them become severely injured. However, with certain issues in the current medical alert systems, there is an immense scope for technological development in the device. For instance, Lifestation, Inc. is facing a lawsuit filed by a customer claiming to receive unsolicited calls on his cellphone from the Lifestation MSA device. Moreover, limited reimbursement for this device is hindering the demand in U.S. and Canada. Get FREE Table of Content: https://www.coherentmarketinsights.com/ongoing-insight/toc/38 Devices with Comprehensive Range of Features are a Threat to Standalone MAS Devices There are new devices being launched with additional features. Philips launched a new MAS device, GoSafe which has an auto-alert fall-detection, and GPS tracking. Even wearable like Fitbit comes with medical alert systems in addition to their usual health tracking features. Stealth Technologies, Inc. also launched a new device, 911 Help Now, with no recurring monthly charge. These devices are a major threat for the standalone MAS devices. The medical alert systems market would be witnessing an admirable growth due to the increasing preference for emergency alert consoles, rapidly aging population and increasing demand for medical alert systems in nursing homes and old age care facilities. However, product availability and pricing along with adoption rate could turn out to be major market governing factors that either might negatively or positively drive the market growth. Fragmented Market The global medical alert systems market is highly fragmented owing to the participation of many established and emerging players in the medical alert systems market. Major players involved in the medical alert systems market are AlertOne Services, LLC., Bay Alarm Medical, CarelineUK Monitoring Limited, Galaxy Medical Alert Systems, Ltd., Life Alert Emergency Response, Inc., LifeStation, Inc., and Koninklijke Philips N.V. among others.
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