Medical Alert Systems Market 2021 | Prominent Players-Guardian Alarm, Connect America, Adt Corporation

The market size of Global Medical Alert System was USD 6.28 Billion in 2019 and it is projected to exhibit a CAGR of 5.8% over the forecast period. The need for individual crisis response activity management, along with factors such as the increasing geriatric population, technical advances in healthcare wearable devices, improving infiltration of smart mobile phones in the healthcare sector and consistent technology developments, and effortless versatility, are accelerating the growth of medical warning systems. The industry is expected to witness growth over the projected interval from 2021 to 2028 due to such determinants.

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Nearly 37.3 million will perish annually due to health risk, according to the World Health Organization (WHO), and these individuals need medical care. Increased innovation and advancement of mobile emergency healthcare services, increased convergence of smartphones with medical warning systems, increased implementation of artificial intelligence and the Internet of Things (IoT) of mobile emergency healthcare systems, and digitization of healthcare systems are the potential prospects for the expected growth of medical alert systems.
Medical warning devices are commonly sold as a wireless transmitter that can be triggered in a medical emergency, equipped as a pendant. The main users of these programs are disadvantaged and ageing adults who do not live with their family members. At present, due to the increasingly ageing population and growing recognition among the population, the demand for medical alarm systems is highly lucrative.

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Different organizations and government associations are working to establish innovative emergency healthcare services, and increasing use of medical warning systems over the projected timeframe are factors that will drive the global market. In addition, the lack of awareness of product use by senior citizens is a key factor hindering market growth.

Key Factors Impacting the Growth of Medical Alert Systems Market:

• Technological advancements
• Increasing development of medical device
• Increase in number of senior citizens
• Digitization of healthcare systems
• Increase in demand for automatic and smart emergency response systems

Growth Drivers that Support the Global Medical Alert Systems Market Growth:

• The medical warning systems industry has been categorized into hospitals & clinics, home-based patients, senior living facilities, long - term care facilities, and others, based on end users. As per the current market situation, the group of home-based consumers has the largest market share of medical warning systems and is expected to register a highest CAGR during the forecast period.

• Due to the growing medical technology, incorporation of IoT and AI in medical equipment, and high healthcare legislation, North America led the global market for medical alarm systems in 2019.

• Demand for medical warning systems in the area is projected to grow in Europe, with an increase in the number of hospitals and clinic centers, an increase in the participation of key players, an increase in demand for premium drugs and an increase in the geriatric population, and government spending on improving healthcare facilities.

• Asia Pacific is expected to project the highest growth rate in the global medical warning systems market during the projected period. This rise is due to a variety of reasons, such as an increase in the prevalence of the geriatric population, a rising number of hospitals and clinics, a transition in the healthcare market, and the need for mobile emergency alert systems.

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Global Companies Seek to Launch New Products in the Market by Collaboration:
• Philips completed the Blue Willow Systems purchase in September 2018. This purchase allowed Philips to broaden its portfolio of resident protection products for Senior Living.
• North America, a major leader in the linked health care domain, purchased Tunstall Americas, in January 2019.

Major companies functioning in the global Medical Alert Systems market are Guardian Alarm, Connect America, Adt Corporation, Mobilehelp, Bay Alarm Medical, Koninklijke Philips, Alertone Services, Valued Relationships, Medical Guardian, and Lifefone.

Market Segmentation:

By System Type
• Personal Emergency Response System (PERS)
• Nurse Calling System (NCS)
• Smart Belt

By Connection Type
• Wired
• Wireless

By End User
• Hospitals & Clinics
• Home-Based Users
• Senior Living Facilities
• Assisted Living Facilities
• Others

By Region:
• North America Medical Alert Systems Market
o By Country (US, Canada, Mexico)
o By System Type
o By Connection Type
o By End User
• Europe Medical Alert Systems Market
o By Country (Germany, Russia, UK, France, Italy, Spain, Rest of Europe)
o By System Type
o By Connection Type
o By End User
• Asia Pacific Medical Alert Systems Market
o By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
o By System Type
o By Connection Type
o By End User
• Middle East & Africa Medical Alert Systems Market
o By Country (UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa)
o By System Type
o By Connection Type
o By End User
• South America Medical Alert Systems Market
o By Country (Brazil, Argentina, Colombia, Rest of South America)
o By System Type
o By Connection Type
o By End User

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