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Medical Alert System Market Opportunities To Reach $6.18 Billion By 2023
by Miller@21 · January 17 Vladimir Tarasenko Jersey , 2019

The report “Medical Alert SystemPersonal Emergency Response System Market by Type (Landline, Mobile, Standalone), End User (Home-Based Users, Senior Living Facilities, and Assisted Living Facilities) Jaden Schwartz Jersey , and Geography – Global Forecast to 2023″, The personal emergency response system (PERS) market is expected to grow from USD 6.61 Billion in 2017 to USD 9.22 Billion by 2023, at a CAGR of 5.7% between 2017 and 2023.



mPERS market expected to grow at the highest CAGR during the forecast period

The Mobile PERS (mPERS) market is expected to grow at the highest CAGR during the forecast period. mPERS is gaining popularity as it allows senior citizens to lead a more independent and healthy lifestyle. Advancements in personal safety monitoring technology have expanded the market and provided home security dealers the opportunity to expand traditional security offerings. Decreasing use of landlines, which was the previous communication technology used in PERS units, is causing the widest reactive changes in the PERS industry, as companies have to reformulate the available communication technologies in their solutions. Previously St. Louis Blues Jersey , landline connection was necessary for a medical response service; however, technologies such as cellular, GSM, and VoIP-compatible options are addressing this gap.

Get Free 10% Customization @ Emerging markets create growth opportunities for PERS

PERS market is an established trend in the developed regions of North America and Europe. Due to favorable regulations and policies in these regions, medical alert systems are rapidly being adopted. As the market in developed countries is nearly saturated, market players have shifted their focus towards developing regions Jakub Voracek Jersey , especially the emerging economies of Asia as well as the Pacific region where the home healthcare market has great potential. Emerging markets such as China, India, Brazil, Indonesia, and the Philippines offer significant growth opportunities for personal emergency response systems. To meet the demand for round-the-clock monitoring and care of senior citizens, various companies are strategically focusing on increasing the sales of personal emergency response systems (PERS) with the help of innovative and user-friendly products.

Home-based users held the largest share of the PERS market in 2016

Home-based users held the largest share of the overall PERS market in 2016 and are expected to dominate the market till 2023. The PERS market for assisted living facilities is expected to register the highest CAGR during the forecast period.

North America expected to hold the largest share Shayne Gostisbehere Jersey , while APAC projected to witness the highest CAGR

North America is expected to hold the largest share and dominate the PERS market between 2017 and 2023. The converging trends of aging population, technological advancement, and favorable government policies are driving the growth of the PERS market in North America. In Asia Pacific (APAC), the expenditure on healthcare has increased over the past few years because of the significant increase in the per capita income. This factor encourages people to opt for better and more reliable healthcare options.

The major players in the PERS market include Koninklijke Philips N.V. (Netherlands), ADT Corporation (US), Tunstall Healthcare Group Ltd. (UK) Claude Giroux Jersey , Valued Relationships, Inc. (US), and Medical Guardian LLC (US).

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