Global Personal Emergency Response Systems Market, 2016 - 2024

Transcription

Global Personal Emergency Response Systems Market, 2016 - 2024
Global Personal Emergency Response Systems Market, 2016 - 2024
Persistence Market Research
Global Personal Emergency Response
Systems (PERS) Market Expected to
Account for US$ 6,572.6 Mn by 2024:
Persistence Market Research
Persistence Market Research
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Global Personal Emergency Response Systems Market, 2016 - 2024
According to the latest market report published by Persistence Market Research titled,
“Global Market Study on Personal Emergency Response Systems (PERS):
Increasing Geriatric Population and Increasing Prevalence of Neurological
Disorders are Factors Expected to Drive Market Growth Over 2016 - 2024”, the
global personal emergency response systems market is expected to increase at a healthy
CAGR of over 8.0% over the forecast period (2016–2024).
Personal emergency response systems are devices used to alert emergency services in the
event of a fall or any emergency situation for immediate medical assistance. Such devices
have the potential to mitigate some adverse consequences of an emergency or any risk
situations. The personal emergency response systems market was valued at US$ 3,191.5 Mn
in 2015 and is expected to increase at a CAGR of over 8.0% during the forecast period.
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In this report, the global personal emergency response systems market has been segmented
on the basis of product type, end use, and region. The report also provides information
regarding market dynamics, value chain, competitive landscape, current trends, market
estimations and forecast.
By region, North America is expected to dominate the global personal emergency response
systems market throughout the forecast period, driven by increasing number of geriatric
population, rising prevalence of chronic diseases, proliferation of smartphones, and adoption
of personal emergency response systems as supportive tool for assisted living facilities. The
U.S. is the largest market for personal emergency response systems in North America. The
personal emergency response systems market in the U.S. is expected to increase at a CAGR
of 9.2% over the forecast period.
By product type, the personal emergency response systems market has been segmented
into landline devices, mobile devices, standalone devices, and mobile applications. The
landline devices segment is expected to dominate the overall personal emergency response
Persistence Market Research
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Global Personal Emergency Response Systems Market, 2016 - 2024
systems market by the end of 2024. The segment is projected to register an above average
growth rate over the forecast period. Mobile devices segment is one of the most attractive
segments and is anticipated to show significant growth in revenue over 2016–2024.
View Detail Report With TOC: http://www.persistencemarketresearch.com/marketresearch/personal-emergency-response-systems-market.asp
By end user, the global personal emergency response systems market has been segmented
into home-based users, assisted living facilities, and hospitals. Among these, home-based
users segment is expected to dominate the overall market by 2024, owing to wide
acceptance of personal emergency response systems such as landline devices and mobile
devices among the aging population who are staying at home. Factors such as ease of use
and portability of these devices and rising number of falls among the aging population are
expected to fuel growth of the overall personal emergency response systems market during
forecast period.
Key market participants included in the report are Koninklijke Philips N.V, LifeWatch USA,
Tunstall, ADT Security Services, Medical Guardian LLC, MobileHelp, Bay Alarm Company, and
MariCare Oy.
Market Bytes:
Increasing aging population as well as increasing prevalence of central nervous system
(CNS) disorders are leading to various risks and emergency situations. Some of the main
causes of risk situations among the elderly population are rising incidence of Alzheimer’s
and strokes. According to an estimate by the World Health Organization, 12.5% of people
aged 65 years and older and 45% of people aged 85 years and older suffer from Alzheimer’s
disease. Also, nearly twice as many women as men suffer from the disease. Personal
emergency response system (PERS) products such as landline devices, mobile devices,
standalone devices and mobile applications are used to alert emergency services in the
event of any emergency. Such devices have the potential to mitigate some adverse
consequences. These systems can be used at home or in assisted living facilities and
hospitals to save the aging and physically challenged individuals from life-threatening
situations.
Persistence Market Research
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Global Personal Emergency Response Systems Market, 2016 - 2024
The global personal emergency response systems market is estimated to be valued at US$
3,421.3 Mn in 2016, and is projected to witness stable growth across all regions over the
forecast period. Factors such as introduction of high-end products by key players and
increasing awareness among people about personal emergency response systems are
expected to fuel demand for these devices.
Growth of the personal emergency response systems market is expected to be driven
primarily by rising geriatric population opting for enhanced medical alert services. According
to the United Nations Department of Economic and Social Affairs, the world’s aging
population was 900.9 Mn in 2015 and is expected to reach 1.4 Bn by 2030. Also, availability
of insurance program to low-income individuals in developed countries is another factor
expected to boost overall growth of the personal emergency response system market in the
near future. The personal emergency response systems market is also expected to be driven
by increased penetration of smartphone-based mobile applications among senior citizens
and technological advancements in personal emergency response systems such as two-way
voice communication and medication reminder.
Key players in the personal emergency response systems market are focused on integrating
advanced technologies such as LAN technology and cellular technology in a single device in
order to gain competitive advantage in the market. Devices with both LAN and cellular
technologies offer an advantage as users can shift to any one depending on the available
source.
The market in North America is expected to expand at the highest CAGR in terms of value
over the forecast period. Increasing prevalence of chronic diseases and rising healthcare
spending are factors expected to further drive demand for personal emergency response
systems. The number of companies that provide personal emergency response systems in
North America is relatively high when compared to other regions. The presence of global
players as well as local players has led to intense competition in the personal emergency
response systems market in North America. To increase sales, companies are offering
discounts and manufacturing cost-effective products.
Europe is the second-most lucrative personal emergency response systems market. Overall
aging population is high in the region when compared to other regions and the region
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Global Personal Emergency Response Systems Market, 2016 - 2024
accounts for 11.2% population of those suffering from neurological disorders in the world.
The market in Europe is expected to expand at a stable CAGR over the forecast period. Major
companies based in Europe are looking to expand their base outside Europe to better cater
to growing global demand for personal emergency response systems.
The Asia Pacific market is expected to expand at the highest CAGR, followed by Latin
America and Middle East & Africa, over the forecast period. The personal emergency
response systems market in Middle East & Africa accounts for a nominal share of the overall
global market, but is expected to evolve over time with increasing technological
advancements and rising awareness through promotional campaigns.
About Us:
Persistence Market Research (PMR) is a full-service market intelligence firm specializing in syndicated
research, custom research, and consulting services. PMR boasts market research expertise across the
Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages,
Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The
company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data
that precisely corresponds to clients’ business needs.
Contact Us:
Persistence Market Research
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7th Floor, New York City,
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Email: sales@persistencemarketresearch.com
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