Personal Emergency Response Systems Market is Poised to be Worth US$ 8.3 Bn by the year 2031

Personal Emergency Response Systems Market 2022-2031

The Personal Emergency Response Systems Market is expected to grow on a healthy note in the subsequent decade. With value-based care picking up, close to 15% of the entire population is under its umbrella as of now. Programs like "Online Bachelor's Degree in General Studies with a Concentration in Healthcare" is being floated, which could aid professionals to lead in the value-based care strategies. In other words, the future belongs to professionals bringing conventional skills in communication, care, and leadership with new-fangled skills in analytics and technology. So, "being value-based" would hold value in the healthcare vertical in the future.

The global PERS market was valued US$ 4.0 Bn in 2018 and is expected to exhibit a CAGR of 7% during the forecast period (2020-2030).

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Rising elderly population and need for continuous patient monitoring have boosted the adoption of personal emergency response systems (PERS), globally. Technological advancements in mobile personal emergency response system devices such as automatic fall detection and medication reminder features are expected to fuel overall personal emergency response systems market growth during the forecast period. The growing adoption of smartphones by the geriatric population is one of the main factors that supports the introduction of software and applications, as such, enabling the growth of the personal emergency response systems market.

Key Players:

The report has profiled some of the important players prevalent in the global like - Cape Cod Healthcare Inc., Philips, MedicAlert Foundation, Bay Alarm Medical, and Honeywell International Inc and more.

This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Personal Emergency Response Systems Market.                

Key Takeaways of Personal Emergency Response Systems Market Study

Landline-associated devices dominated the personal emergency response systems market in terms of revenue, and are expected to hold nearly half of the PERS market share.

Wearables and sensor-based transmitters are able to track the location of patients during emergency situations. This feature is expected to be one of the growth driving factors.

The demand for personal emergency response systems among home-based users is expected to gain traction during the forecast period.

North America is expected to be a significant revenue generating region in the global personal emergency response systems market, owing to the higher adoption rate of these systems by the geriatric population for medication reminder and health monitoring.

Innovative product launches are boosting the growth of the personal emergency response systems market.

For instance, in December 2019, LifeStation, a leading provider of medical alert monitoring systems for elderly people, launched LifeStation Mobile LTE with a monitoring center of LifeStation, staffed with its team of certified emergency care specialists, enabling seniors to get help quickly.

"Innovative product launches including remote patient monitoring, fall alerts, rhythmic disorder data, and location tracking, and increase in the adoption rate of these systems among home-based elderly people are expected to stimulate significant market growth."- says a PMR Analyst.

Improved and Efficient Service Offerings - Strategic Focus of Manufacturers

Key players in the personal emergency response systems market are providing a supporting link between users and emergency healthcare service providers through their products. Care@Home from Essence Group learns and adapts to an individual's daily behavior, and provides alerts with different levels of severity based on variance from the daily routine. In-Home Medical Alert from Bay Alarm Medical sends alerts to trained emergency operators, family, friends, neighbors, and, if necessary, 911 emergency services, by pressing a button.

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Region Coverage (Regional Production, Demand & Forecast by Countries etc.):
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
Asia-Pacific (China, India, Japan, Southeast Asia etc.)
South America (Brazil, Argentina etc.)
Middle East & Africa (Saudi Araia, South Africa etc.)

Key Stakeholders 
Personal Emergency Response Systems Market Manufacturers 
Personal Emergency Response Systems Market Distributors/Traders/Wholesalers 
Personal Emergency Response Systems Market Subcomponent Manufacturers 
Industry Association 
Downstream Vendors

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Key Questions Answered in the Personal Emergency Response Systems Market Report

How is the Personal Emergency Response Systems Market expected to grow over the projected period?

What direction is the Personal Emergency Response Systems Market expected to take in terms of volume and value during the forecast period?

What is the impact of macroeconomic factors on the Personal Emergency Response Systems Market in future?

What are the key market drivers in the Personal Emergency Response Systems Market?

What are significant opportunities and improvement areas for Personal Emergency Response Systems Market manufacturers?

What are the key developments and trends taking over the Personal Emergency Response Systems Market?

Which are the emerging countries that are expected to create significant growth opportunities in the Personal Emergency Response Systems Market?  

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