Description
Global Medical Alert Systems Market Research Report—Forecast till 2027
Market Dynamics
Global Medical Alert Systems Market is anticipated to exhibit a CAGR of 6.46% to surpass USD 17,293.6 Million during the review period. Medical alert systems permit seniors to quickly get help in case of a fall or other medical emergencies. With the push of a button, seniors can signal a call center that is monitored throughout the day and night. The increasing adoption of these systems in developed countries is expected to boost the market during the review period.
The global medical alert system is expected to achieve substantial market growth owing to the rise in the geriatric population and health proficiency across the globe, and technological advancements in medical alert systems are driving the medical alert systems market globally. Moreover, the major players are developing medical alert platforms and applications which are compatible with smartphones.
Market Segmentation
Global Medical Alert Systems Market is categorized into System Type, Offering, Connection Type, Application, and Technology.
Based on system type, the market has been divided into personal emergency response systems (PERS), nurse call systems (NCS), ambulatory auto alert systems, automated airborne flight alert systems, and smart belt. Personal Emergency Response Systems (PERS) is sub-divided into home-based/landline-based systems, mobile-PERS, and standalone PERS. Mobile-PERS is again segregated into cellular emergency response system, GPS-based emergency response systems, and wireless emergency response system.
By offering a segment, the global market is segmented into hardware, software, and services. The hardware segment is again segmented into console unit, transmitter, battery, and others. The transmitter segment is further classified as a wristband transmitter and a pendant transmitter. Based on Connection Type, the medical alert systems market is categorized into a wired and wireless connection. Based on technology type, the global market is classified into two-way voice systems, unmonitored medical alert systems, medical alert alarm (button) systems, IP-based systems, and others.
In terms of application, the market has been partitioned as home-based users, senior living facilities/senior care centers, assisted living facilities, and others (nursing homes, hospice).
Regional Analysis
The region-specific analysis of the Global Medical Alert Systems Market has been categorized as the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
The Americas accounted for USD 3,973.78 million in 2019 growing at a CAGR of 5.68% during the review time. The regional market growth is driven by the existence of major pharmaceutical manufacturers, technological advancements in the everchanging healthcare sector, and increasing prevalence of injuries due to falls from beds and upper bunks, and high disposable income.
Europe is the second-largest market for medical alert systems. Factors such as rising Inclination towards independent living among older adults and increased healthcare spending are driving the growth of the market in this region.
The Asia-Pacific region accounted for the third-largest market share owing to the rising aging population, government regulations to enhance the healthcare sector, constant research and development in technology, and easy adaptability of PERS devices by prominent market players.
The Middle East and Africa are expected to register limited market growth owing to the less economic developments and extremely low income accounted for the least market share in 2019.
Major Players
The Key Players in the Global Medical Alert Systems Market are Koninklijke Philips NV (Philips) (Netherlands), ADT (US), GreatCall (US), Life Alert Emergency Response, Inc. (US), LogicMark (US), Medical Guardian, AlertONE Service Inc.(US), Bay Alarm Medical (US), LLP (US), Nortek Security and Control (US), Rescue Alert (US), Tunstall Group (UK), and VRI (US) among others.
COVID 19 Impacts
We are continuously tracking the impact of the COVID-19 pandemic on various industries and verticals within all domains. Our research reports include the same and help you understand the drop and rise, owing to the impact of COVID-19 on the industries. Also, we help you to identify the gap between the demand and supply of your interested market. Moreover, the report helps you with the analysis, amended government regulations, and many other useful insights.
Table of Contents
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY 20
1.1 OVERVIEW 20
1.1.1 MARKET SYNOPSIS 20
2 MARKET INTRODUCTION 21
2.1 SCOPE OF THE STUDY 21
2.2 RESEARCH OBJECTIVE 21
2.1 LIST OF ASSUMPTIONS 21
3 RESEARCH METHODOLOGY 23
3.1 OVERVIEW 23
3.2 DATA MINING 23
3.3 SECONDARY RESEARCH 24
3.4 PRIMARY RESEARCH 25
3.4.1 PRIMARY INTERVIEWS AND INFORMATION GATHERING PROCESS 25
3.4.2 BREAKDOWN OF PRIMARY RESPONDENTS 26
3.5 FORECASTING TECHNIQUES 26
3.6 RESEARCH METHODOLOGY FOR MARKET SIZE ESTIMATION 27
3.6.1 BOTTOM-UP APPROACH 28
3.6.2 TOP-DOWN APPROACH 29
3.7 DATA TRIANGULATION 30
3.8 VALIDATION 30
4 MARKET DYNAMICS 31
4.1 OVERVIEW 31
4.2 DRIVERS 32
4.2.1 INCREASE IN GERIATRIC POPULATION & HEALTH LITERACY ACROSS GLOBE 32
4.2.2 GROWING ADOPTION OF SMARTPHONES & MOBILE EMERGENCY RESPONSE SYSTEMS 32
4.2.3 TECHNOLOGICAL ADVANCEMENTS IN MEDICAL ALERT SYSTEMS 32
4.3 RESTRAINTS 33
4.3.1 INCREASING INCIDENCES OF FALSE ALARM 33
4.3.2 PRIVACY AND DATA SECURITY RELATED CONCERNS 33
4.4 OPPORTUNITIES 34
4.4.1 ENTERING DEVELOPING MARKETS 34
5 MARKET FACTOR ANALYSIS 35
5.1 VALUE CHAIN ANALYSIS 35
5.1.1 INPUTS 35
5.1.2 SOFTWARE DEVELOPMENT PROCESSES 36
5.1.3 OUTPUT 36
5.1.4 MARKETING AND DISTRIBUTION 36
5.1.5 POST SELLING SERVICES 36
5.2 PORTER’S FIVE FORCES MODEL 37
5.2.1 THREAT OF NEW ENTRANTS 38
5.2.2 BARGAINING POWER OF SUPPLIERS 38
5.2.3 THREAT OF SUBSTITUTES 38
5.2.4 BARGAINING POWER OF BUYERS 38
5.2.5 INTENSITY OF RIVALRY 38
5.3 COVID-19 IMPACT ANALYSIS 39
6 GLOBAL MEDICAL ALERT SYSTEMS MARKET, BY SYSTEM TYPE 41
6.1 OVERVIEW 41
6.2 PERSONAL EMERGENCY RESPONSE SYSTEMS (PERS) 43
6.3 NURSE CALL SYSTEMS (NCS) 45
6.4 AMBULATORY AUTO ALERT SYSTEMS 45
6.5 AUTOMATED AIRBORNE FLIGHT ALERT SYSTEM 46
6.6 SMART BELT 47
7 GLOBAL MEDICAL ALERT SYSTEMS MARKET, BY OFFERING 48
7.1 OVERVIEW 48
7.2 HARDWARE 50
7.3 SERVICES 51
7.4 SOFTWARE 52
8 GLOBAL MEDICAL ALERT SYSTEMS MARKET, BY CONNECTION TYPE 53
8.1 OVERVIEW 53
8.2 WIRED 55
8.3 WIRELESS 55
9 GLOBAL MEDICAL ALERT SYSTEMS MARKET, BY TECHNOLOGY 56
9.1 OVERVIEW 56
9.2 TWO-WAY VOICE SYSTEMS 58
9.3 UNMONITORED MEDICAL ALERT SYSTEMS 59
9.4 MEDICAL ALERT ALARM (BUTTON) SYSTEM 59
9.5 IP-BASED SYSTEMS 60
9.6 OTHERS 60
10 GLOBAL MEDICAL ALERT SYSTEMS MARKET, BY APPLICATION 61
10.1 OVERVIEW 61
10.2 HOME-BASED USERS 63
10.3 SENIOR LIVING FACILITIES/SENIOR CARE CENTERS 63
10.4 ASSISTED LIVING FACILITIES 64
10.5 OTHERS (NURSING HOMES, HOSPICE) 64
11 GLOBAL MEDICAL ALERT SYSTEMS MARKET, BY REGION 65
11.1 OVERVIEW 65
11.2 AMERICAS 67
11.2.1 NORTH AMERICA 72
11.2.1.1 US 77
11.2.1.2 CANADA 81
11.2.2 LATIN AMERICA 85
11.3 EUROPE 89
11.3.1 WESTERN EUROPE 94
11.3.1.1 GERMANY 99
11.3.1.2 UK 103
11.3.1.3 FRANCE 107
11.3.1.4 ITALY 111
11.3.1.5 SPAIN 115
11.3.1.6 REST OF WESTERN EUROPE 119
11.3.2 EASTERN EUROPE 123
11.4 ASIA-PACIFIC 127
11.4.1 CHINA 132
11.4.2 JAPAN 136
11.4.3 INDIA 140
11.4.4 AUSTRALIA 144
11.4.5 SOUTH KOREA 148
11.4.6 REST OF ASIA-PACIFIC 152
11.5 MIDDLE EAST & AFRICA 156
11.5.1 MIDDLE EAST 161
11.5.2 AFRICA 165
12 COMPETITIVE LANDSCAPE 170
12.1 OVERVIEW 170
12.2 MAJOR PLAYERS IN THE GLOBAL MEDICAL ALERT SYSTEMS MARKET 170
12.3 GLOBAL MEDICAL ALERT SYSTEMS MARKET INSIGHTS 171
12.4 COMPETITIVE BENCHMARKING 172
12.5 MAJOR GROWTH STRATEGIES IN THE GLOBAL MEDICAL ALERT SYSTEMS MARKET 173
12.6 THE LEADING PLAYERS IN TERMS OF NUMBER OF DEVELOPMENTS IN THE GLOBAL MEDICAL ALERT SYSTEMS MARKET 174
12.7 KEY DEVELOPMENTS & GROWTH STRATEGIES 174
12.7.1 PRODUCT LAUNCHES 175
12.7.2 ACQUISITIONS 176
12.7.3 PARTNERSHIP/COLLABORATIONS 176
13 COMPANY PROFILES 179
13.1 KONINKLIJKE PHILIPS NV 179
13.1.1 COMPANY OVERVIEW 179
13.1.2 FINANCIAL OVERVIEW 180
13.1.3 PRODUCTS/SERVICES OFFERED 180
13.1.4 KEY DEVELOPMENTS 181
13.1.5 SWOT ANALYSIS 182
13.1.6 KEY STRATEGIES 182
13.2 ADT 183
13.2.1 COMPANY OVERVIEW 183
13.2.2 FINANCIAL OVERVIEW 183
13.2.3 PRODUCTS/SERVICES OFFERED 184
13.2.4 KEY DEVELOPMENTS 184
13.2.5 SWOT ANALYSIS 185
13.2.6 KEY STRATEGIES 185
13.3 ALERTONE SERVICE INC. 186
13.3.1 COMPANY OVERVIEW 186
13.3.2 FINANCIAL OVERVIEW 186
13.3.3 PRODUCTS/SERVICES OFFERED 186
13.3.4 KEY DEVELOPMENTS 186
13.3.5 SWOT ANALYSIS 187
13.3.6 KEY STRATEGIES 187
13.4 BAY ALARM MEDICAL 188
13.4.1 COMPANY OVERVIEW 188
13.4.2 FINANCIAL OVERVIEW 188
13.4.3 PRODUCTS/SERVICES OFFERED 188
13.4.4 KEY DEVELOPMENTS 188
13.4.5 SWOT ANALYSIS 189
13.4.6 KEY STRATEGIES 189
13.5 GREATCALL 190
13.5.1 COMPANY OVERVIEW 190
13.5.2 FINANCIAL OVERVIEW 190
13.5.3 PRODUCTS/SERVICES OFFERED 191
13.5.4 KEY DEVELOPMENTS 191
13.5.5 SWOT ANALYSIS 192
13.5.6 KEY STRATEGIES 192
13.6 LIFE ALERT EMERGENCY RESPONSE, INC. 193
13.6.1 COMPANY OVERVIEW 193
13.6.2 FINANCIAL OVERVIEW 193
13.6.3 PRODUCTS/SERVICES OFFERED 193
13.6.4 KEY DEVELOPMENTS 193
13.6.5 SWOT ANALYSIS 194
13.6.6 KEY STRATEGIES 194
13.7 LOGICMARK 195
13.7.1 COMPANY OVERVIEW 195
13.7.2 FINANCIAL OVERVIEW 195
13.7.3 PRODUCTS/SERVICES OFFERED 195
13.7.4 KEY DEVELOPMENTS 195
13.7.5 SWOT ANALYSIS 196
13.7.6 KEY STRATEGIES 196
13.8 MEDICAL GUARDIAN, LLP 197
13.8.1 COMPANY OVERVIEW 197
13.8.2 FINANCIAL OVERVIEW 197
13.8.3 PRODUCTS/SERVICES OFFERED 197
13.8.4 KEY DEVELOPMENTS 197
13.8.5 SWOT ANALYSIS 198
13.8.6 KEY STRATEGIES 198
13.9 NORTEK SECURITY AND CONTROL 199
13.9.1 COMPANY OVERVIEW 199
13.9.2 FINANCIAL OVERVIEW 199
13.9.3 PRODUCTS/SERVICES OFFERED 199
13.9.4 KEY DEVELOPMENTS 200
13.9.5 SWOT ANALYSIS 201
13.9.6 KEY STRATEGIES 201
13.10 RESCUE ALERT 202
13.10.1 COMPANY OVERVIEW 202
13.10.2 FINANCIAL OVERVIEW 202
13.10.3 PRODUCTS/SERVICES OFFERED 202
13.10.4 KEY DEVELOPMENTS 202
13.10.5 SWOT ANALYSIS 203
13.10.6 KEY STRATEGY 203
13.11 TUNSTALL GROUP 204
13.11.1 COMPANY OVERVIEW 204
13.11.2 FINANCIAL OVERVIEW 204
13.11.3 PRODUCTS/SERVICES OFFERED 204
13.11.4 KEY DEVELOPMENTS 204
13.11.5 SWOT ANALYSIS 205
13.11.6 KEY STRATEGIES 205
13.12 VRI 206
13.12.1 COMPANY OVERVIEW 206
13.12.2 FINANCIAL OVERVIEW 206
13.12.3 PRODUCTS/SERVICES OFFERED 206
13.12.4 KEY DEVELOPMENTS 206
13.12.5 SWOT ANALYSIS 207
13.12.6 KEY STRATEGIES 207
14 APPENDIX 208
14.1 REFERENCES 208
14.2 RELATED REPORTS 208
