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Medical Alert Systems Market Worth $9.6 Billion by 2025 - Exclusive Report by MarketsandMarkets™
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Feb 17, 2020, 09:00 ET

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CHICAGO, Feb. 17, 2020 /PRNewswire/ -- According to the new market research report on the "Medical Alert Systems Market by Connection (Wired, Wireless), End User (Home Based, Hospitals & Clinics, Senior Living Centers), System Type (Cellular PERS, Mobile PERS, Nurse Call Systems, Smart Wearable Belt), and Region - Global Forecast to 2025", published by MarketsandMarkets™, the Medical Alert Systems Market is estimated to be worth USD 6.5 billion in 2020 and is expected to reach USD 9.6 billion by 2025, at a CAGR of 7.9% from 2020 to 2025.

The rapid growth of the medical alert systems market is expected to witness strong growth in the next six years mainly due to the rising elderly population across the globe, increasing adoption of the mobile personal emergency response system, various healthcare reforms, financial assistance to the elderly individuals and an inclination towards independent living.

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"Medical alert system market for PERS devices is expected to hold the largest share during the forecast period."

Personal emergency response systems, known simply as PERS, represents a fast-growing market that primarily serves the needs of an elderly population. And now, with the advent of mobile PERS (mPERS) based on devices such as smartphones, the field of opportunity has become even wider. The older adults are more prone to falls and could result in severe injury if proper treatment is not given in time. The individuals with chronic medical conditions, like COPD, diabetes, or arthritis, might fall and need medical treatment as compared to others. The healthy and independent older adults benefit from the personal emergency response systems too which can help them to contact the emergency services in case of a severe situation.

"Wired medical alert systems are expected to hold the largest market share from 2020 to 2025."

The wired or in-home medical alert devices held largest market share during the forecast period mainly due to elder people who spent most of their time at home and find it easy to use. The wired medical alert systems are simple with a bunch of help buttons mounted on the wall or in the form of a pendant that can be used in the emergency. The low cost associated with the wired medical alert systems as compared to the wireless systems is another major factor propelling the growth of this segment from 2020 to 2025.

"Home-based users are expected to hold the largest market share from 2020 to 2025."

The home-based users held the largest market size for the medical alert systems market between 2020 and 2025. The demand for the home-based systems is likely to stay high due to the independence it provides to the senior citizens who want to live alone but taken care of in case of an emergency. As a result, a number of seniors are opting for such systems to take advantage of the advanced technology. The home-based user is a large segment in the elderly care market which companies are catering and expecting a rise in demand over a period of time.

Browse in-depth TOC on "Medical Alert Systems Market"
146 – Tables
35 – Figures
170 – Pages

"North America to account for the largest market share from 2020 to 2025."

Major factors contributing towards a larger market share of the medical alert system market in North America include increasing geriatric population, increasing adoption of mobile PERS, favourable healthcare reforms and rising healthcare expenditure in the North America region. The medical alert systems market has seen tremendous growth in terms of technological advancements, increased healthcare expenditure as a percentage of total GDP, and the introduction of emerging technologies like AI and IoT. Presence of a large number of players such as Medical Guardian (US), Connect America (US), MobileHelp (US), and Guardian Alarm (US), offering medical alert systems, in this region is further propelling the growth of the market.

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The major players in medical electronics market are Koninklijke Philips (Netherlands), Connect America (US), Valued Relationships (VRI) (US), Guardian Alarm (US), Alertone Services (US), ADT Corporation (US), LifeFone (US), Bay Alarm (US), Medical Guardian (US), MobileHelp (US), Nortek Security and Control (Numera) (US), Galaxy Medical Alert Systems (Canada), Response Now (US), LifeStation (US), Rescue Alert (US), Better Alerts (US), GreatCall (US), Electronic Caregiver (US), Blue Linea (France),  Vanguard Wireless (Australia), and Tango Technologies (US).

Please Explore Relevant Reports:

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Wearable Technology Market by Product (Wristwear, Headwear/Eyewear, Footwear, Neckwear, Bodywear), Type (Smart Textile, Non-Textile), Application (Consumer Electronics, Healthcare, Enterprise & Industrial), and Geography - Global Forecast to 2022

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Sanjay Gupta
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]

Research Insight: https://www.marketsandmarkets.com/ResearchInsight/medical-alert-systems-market.asp   
Visit Our Web Site: https://www.marketsandmarkets.com 
Content Source: https://www.marketsandmarkets.com/PressReleases/personal-emergency-response-system.asp 

SOURCE MarketsandMarkets

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