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Medical Alert Systems Market - Forecast (2020 - 2025)

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  • 102 Pages
  • March 2020
  • Region: Global
  • IndustryARC
  • ID: 3063576
The global medical alert systems market is estimated to surpass $26.43 billion by 2023 growing at an estimated rate of more than 6.8% during 2018 to 2023. Nurse call systems witnessed as fast growing segment in the market with almost 60% share in 2017 globally. It is due to large scale implementation of nurse call systems across various healthcare facilities. Geographically, the rise in aging population and increased adoption of PERS devices by long term and senior facilities will facilitate the growth of PERS market. In 2017, the global medical alerts system market was valued at $17.88 billion while $10.72 billion was generated from nurse call systems.

What is Medical Alert Systems Market?

Medical Alert System is a device which is used to signal the medical personnel during emergency. These devices encompass a wide range of medical devices such as Personal Emergency Response Systems (PERS), Nurse Call Systems (NCS), Ambulatory Auto Alert Systems, Automated Airborne Flight Alert Systems and others. This device increases the safety and security of the patients.  It was primarily developed for senior citizens or the patients suffering from long-term disabilities. This device has additional safety features such as fire and smoke alert, carbon monoxide monitoring and others that help medical staff to understand the surrounding in order to face any situation.

 According to the World Health Organization report, nearly 37.3 million are found falling owing to the health risk every year and these people require medical attention. Also, around 646,000 people die from falls across the globe each year. This trend is anticipated to continue and hence the need for medical alert systems is anticipated to grow further in near future.

There is a rise in integration of healthcare communication technologies including patient monitoring devices to personal communication devices such as smartphones and tablets. With technological advancements, the nursing staff and hospital administration have access to nurse call systems from remote mobile devices as well as office computers to get real time monitoring data from patients.

This report incorporates an in-depth assessment of medical alert systems market by type, end users and geography.

What are the major end users for Medical Alert Systems?

The various end users assessed include hospitals and clinics, home-based users, senior living facilities, assisted living facilities and others. Hospitals and assisted living facilities are the dominant end user segments which combinedly accounted for nearly 60% of the global medical alert systems market revenue. The growing hospital industry is will witness a proportionate rise in implementation of NCS across healthcare facilities. Furthermore, increase in number of emergency care facilities, clinics as well as specialty hospitals are anticipated to enhance the medical alert systems market. Rising healthcare costs is anticipated to increase the adoption of medical alert systems across various end users including hospitals and clinics, home-based users, senior living facilities, assisted living facilities and others.

Medical Alert Systems Market

Market Research and Market Trends of Medical Alert Systems Market

TruSense has combined wireless sensors, Amazon’s Echo Dot, and GPS technology to track patients daily activities and health statistics, and send that data to family members and healthcare professionals. These smart sensors keep a track of the health statistics and indicate the shift in health statistics and send alerts to the healthcare professionals unlike conventional emergency response systems and hence brought revolution in the healthcare industry

Technological advancement in fall detection devices and high frequent launch of these devices by manufacturers such as ActiveProtectiv, Kardian and others is anticipated to affect the growth of the medical alert systems market in near future

In 2018, Samsung Electronics America and MobileHelp have entered into collaboration for integration of personal emergency response capabilities to Samsung Gear S3 smartwatches. Increasing number of collaborations by key players of medical alert devices is anticipated to provide prospects to the medical alert systems market in near future

In 2018, companies such as ZTE, Qualcomm, and Wearsafe have partnered to integrate personal security tracking system to wearable devices. This partnership is anticipated to provide ample amount of opportunities in near future.

Who are the Major Players in Medical Alert Systems market?

The companies referred to in the market research report include Koninklijke Philips N.V., Rauland-Borg Corporation, Honeywell International, Ascom Wireless Solutions, ADT Corporation (US), Tunstall Healthcare Group Ltd., Valued Relationships, Inc., Medical Guardian LLC, Hill-Rom Holdings Inc., Jeron Electronic Systems Inc. and more than 20 companies.

What is our report scope?

The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2018-2023.

Key Takeaways from this Report

  • Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level – for product types, end use applications and by different industry verticals.
  • Understand the different dynamics influencing the market – key driving factors, challenges and hidden opportunities.
  • Get in-depth insights on your competitor performance – market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
  • Analyze the sales and distribution channels across key geographies to improve top-line revenues.
  • Understand the industry supply chain with a deep-dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.
  • Get a quick outlook on the market entropy – M&A’s, deals, partnerships, product launches of all key players for the past 4 years.
  • Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.

Table of Contents

1. Medical Alert Systems Market Overview2. Executive Summary
3. Medical Alert Systems Market Landscape
3.1. Market Share Analysis
3.2. Comparative Analysis
3.2.1. Product Benchmarking
3.2.2. End User profiling
3.2.3. Patent Analysis
3.2.4. Top 5 Financials Analysis
4. Medical Alert Systems Market Forces
4.1. Market Drivers
4.1.1. Rise In Aging Population to Drive Medical Alert Systems Market
4.1.2. Booming Home Healthcare Market to Create Need For Affordable Monitoring Devices
4.1.3. Healthcare Reforms to Favor Growth of Medical Alert Systems Market
4.1.4. Usage of Smartphones to Drive The Medical Alert Systems Market
4.1.5. Constant Evolution of Healthcare Industry Leads to Innovations In The NCS Market
4.1.6. Stringent Government Regulations to Reorganize The NCS Industry
4.1.7. Technological Advancements And Ease of Access Drive Penetration of Medical Alert System
4.2. Market Constraints and Market Challenges
4.2.1. Limited Financial Resources In Elderly Population Will Impact The Adoption of PERS
4.2.2. Inhibitions About Using Medical Alert Systems
4.2.3. Regulatory Barriers For Nurse Call Systems
4.2.4. Limited Range of PERS
4.2.5. Lack of Infrastructure& Trained Resources
4.2.6. Increase In False Alarms Will Limit The Efficiency of Medical Alert Systems
4.2.7. High Cost of Newer Technologies
4.3. Attractiveness of the Industry
4.3.1. Power of Suppliers
4.3.2. Power of Customers
4.3.3. Threat of New entrants
4.3.4. Threat of Substitution
4.3.5. Degree of Competition
5. Medical Alert Systems Market – Government Regulations
5.1. Personal Emergency Response Systems – Government Regulations
5.1.1. North America U.S. Canada Mexico
5.1.2. Europe
5.1.3. APAC
5.1.4. Rest of the World
5.2. Nurse Call Systems – Government Regulations
5.2.1. North America
5.2.2. Europe
5.2.3. APAC
5.2.4. Rest of the World
6. Medical Alert Systems Market – Strategic Analysis
6.1. Value Chain Analysis
6.1.1. Personal Emergency Response Systems
6.1.2. Nurse Call Systems
6.2. Pricing Analysis
6.2.1. Personal Emergency Response Systems
6.2.2. Nurse Call Systems
6.3. Opportunities Analysis
6.3.1. Personal Emergency Response Systems – Opportunity Analysis Emerging Markets Are The Next Frontiers of The Growth Prospective Customer Base to Create Potential Opportunities For The U.S. PERS Market Standalone PERS Devices to Revolutionize The PERS Market
6.3.2. Nurse Call Systems – Opportunity Analysis Emerging Regions Hold Abundant Growth Potential For NCS Market Middleware Interfacing to Become The Future of The NCS
6.4. Product/Market Life Cycle Analysis
6.5. Suppliers and Distributors
6.5.1. Personal Emergency Response Systems
6.5.2. Nurse Call Systems
7. Medical Alert Systems Market Classification
7.1. Personal Emergency Response Systems Market – Classification
7.2. Nurse Call Systems Market – Classification
8. Medical Alert Systems Market - By Type
8.1. Personal Emergency Response Systems
8.1.1. Landline
8.1.2. Mobile
8.1.3. Standalone
8.2. Nurse Call Systems
8.2.1. Traditional
8.2.2. Advanced
8.2.3. Middleware Interfacing
9. Medical Alert Systems Market - By End User
9.1. Personal Emergency Response Systems
9.1.1. Home-Based Users
9.1.2. Assisted Living Facilities
9.1.3. Senior Living Facilities
9.2. Nurse Call Systems
9.2.1. Hospitals
9.2.2. Clinics
9.2.3. Assisted Living Facilities
9.2.4. Senior Living Facilities
10. Medical Alert Systems Market - By Geography
10.1. Introduction
10.2. North America
10.2.1. U.S
10.2.2. Canada
10.2.3. Mexico
10.3. Europe
10.3.1. U.K.
10.3.2. Germany
10.3.3. Italy
10.3.4. Spain
10.3.5. France
10.3.6. Rest of Europe
10.4. Asia-Pacific
10.4.1. China
10.4.2. Japan
10.4.3. India
10.4.4. Australia & New Zealand
10.4.5. Rest of APAC
10.5. RoW
10.5.1. South America
10.5.2. Middle East
10.5.3. Africa
11. Market Entropy
11.1. New Product Launches
11.2. M&As, Collaborations, JVs, Partnership
12. Company Profiles (Overview, Financials, SWOT Analysis, Developments, Product Portfolio)
12.1. Koninklijke Philips N.V.
12.2. Rauland-Borg Corporation
12.3. Honeywell International
12.4. Ascom Wireless Solutions
12.5. ADT Corporation (US)
12.6. Tunstall Healthcare Group Ltd.
12.7. Valued Relationships, Inc.
12.8. Medical Guardian LLC
12.9. Hill-Rom Holdings Inc.
12.10. Jeron Electronic Systems Inc.
12.11. Company 11.
12.12. Company 12.
12.13. Company 13.
12.14. Company 14.
12.15. Company 15.
13. Appendix
13.1. Abbreviations
13.2. Sources
13.3. Research Methodology
13.4. Bibliography
13.5. Compilation of Expert Insights
13.6. Disclaimer