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Global Personal Emergency Response Systems Market: Rising Geriatric Population Propelling Demand, Reports TMR
Read Full Report: http://www.transparencymarketresearch.com/personal-emergency-response-systems-market.html
A personal emergency response system is an electronic device that allows an individual under care to seek secure help during an emergency. This system is connected with other devices such as smartphones or alarms, and are programmed to signal a response center for help. This help button is a radiofrequency trigger device that is commonly worn around the wrist or neck. The person at the end of PERS can even interact with the quick response team at the other end to decide on an appropriate action.
The report notes that personal emergency response systems and their components that enable remote access and monitoring are gaining popularity in the development of telehealth services, and these systems can be expected to be completely integrated with consumer products such as wristwatches and cellphones in the near future. This will bring a degree of comprehensiveness to healthcare solutions and offer a sense of independence for senior citizens through the management of diseases and social interaction and engagement.
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According to WHO, the world population of seniors will rise to 1.2 billion by 2025 and as a result, contribute to a significant rise in demand since geriatrics are typically the target end-users of PERS. These systems are also gaining popularity because they allow patients more control over their life and reduce their dependency on others. The U.S. Census Bureau has estimated that the geriatric population in the country will reach 74 million by 2025. Along with a robust healthcare infrastructure and a high rate of the adoption of various technologies, the U.S. will serve as a significant market for personal emergency response systems. Conversely, since these services are in a development phase, a lack of cost-effectiveness has been marked as the most prominent restraint in the global market for personal emergency response systems.
The report observes that the competitive landscape of the global personal emergency response system market is quite stable in the current scenario with limited players in the market. However, the market attractiveness is expected to lure more players in the near future and intensify the competition. The report explores the complete value chain in the PERS market, including the retail channel as well as the institutional channel involving direct or indirect contract with hospitals and large group purchase organizations (GPO).
Some of the key players in the global personal emergency response system market are Tunstall Healthcare, Philips Lifeline, Life Alert Emergency Response, Inc., ADT LLC, and Numera, Inc.
Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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