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Medical Alert Systems Market Analysis 2022-2030- Rapid Advancements In Wearable Medical Devices

Reports And Data

Reports And Data

Increasing aging population, improving healthcare infrastructure, and increasing need for medical alert systems in home care settings are key factors

NEW YORK, NY, UNITED STATES, May 11, 2022 /EINPresswire.com/ -- The global medical alert systems market is expected to reach USD 15.82 Billion in 2030 and register a steady revenue CAGR of 9.8% over the forecast period, according to latest report published by Reports and Data. Key factors driving global market revenue growth are rising per capita income, favorable reimbursement scenarios, increasing prevalence of chronic disorders, and preference to be able live independently among senior citizens.

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Life expectancy of people is gradually increasing due to rapid advancements in the medical field, rising inclination towards healthy lifestyle, shifting preference for healthy food products, and economic development. There has been a rapid increase in the elderly population across the globe over the years and is expected to increase by approximately 16% by 2050. However, these individuals are more prone to chronic illnesses and have higher risk of falling. Medical alert devices are alarm systems that provide emergency monitoring for elderly patients or patient with health issues and are rapidly gaining popularity over the recent past. These devices are usually worn on wrists or as pendants and aid in signaling healthcare experts or caregivers in case of falls, accidents, or sudden medical emergencies. Factors such as increasing adoption of live-saving tracking devices, preference towards independent living among seniors, and increasing adoption of Person Emergency Response Systems (PERS) are boosting market revenue growth. In addition, favorable government initiatives, and increasing investments to develop more advanced alert devices and systems are expected to boost market growth going ahead.  

Market Dynamics:

The pharma and healthcare sector has significantly advanced in the recent years and is expected to register steady revenue growth over the forecast period owing to rapid innovations in medical technology, increasing investments, rising healthcare expenditure and high adoption of advanced products and systems. Factors such as rising prevalence of chronic diseases such as diabetes, cancer, cardiovascular diseases, and neurological disorders across the globe, rising cases of coronavirus, improving healthcare infrastructure and research facilities, and increasing adoption of remote patient monitoring services and home care settings are expected to fuel global market revenue growth over the forecast period. In addition, increasing number of hospitals and ambulatory care centers worldwide, high demand for personalized medicine, increasing investments in drug discovery and growing investments by public and private sectors are expected to drive global market growth in the coming years.

Leading companies operating in the market are:

Philips Lifeline, ADT Inc., Tunstall Healthcare Group Ltd, Greatcall, Alert-1, Connect America, Bay Alarm Medical, Life Alert Emergency Response, Inc., Rescue Alert, Mobile Help, Medical Guardian LLC, LifeStation, Galaxy Medical Alert Systems, LifeFone, Guardian Alarm, Better Alerts, Valued Relationships, Inc., Nortek Security & Control LLC, Legrand Assisted Living & Healthcare, Response Now, and Vanguard Wireless are key players profiled in the global medical alert systems market report.

Competitive Landscape:

The report also focuses on details of each market player including its global position, financial standing, revenue generation, company overview, product & service portfolio. The Medical Alert Systems market is extremely competitive and consists of several key players at regional and global level. Key players are focused on adopting various strategies such as new product launches, mergers and acquisitions, investments in R&D, partnerships, joint ventures and collaborations to strengthen their market position and enhance product portfolio.

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The report also offers detailed insights about market segmentation based on type, application and regional bifurcation:

Medical Alert Systems Market Segmentation:

Type Outlook (Revenue, USD Billion; 2019-2030)

Personal Emergency Response System (PERS)
Home-based/Landline-based System
Mobile PERS
Cellular Emergency Response System
Wireless Emergency Response System
GPS-based Emergency Response System
Nurse Calling System (NCS)
Button-based Systems
Integrated Communication Systems
Mobile Systems
Intercom Systems
Smart Belt

Offering Outlook (Revenue, USD Billion; 2019-2030)

Hardware
Console Unit
Transmitter
Wristband Transmitter
Pendant Transmitter
Battery
Others
Services
Software

Connection Type Outlook (Revenue, USD Billion; 2019-2030)

Wired
Wireless

End Use Outlook (Revenue, USD Billion; 2019-2030)

Home-based Users
Senior Living Facilities/Senior Care Centers
Assisted Living Facilities
Hospitals and Clinics
Others
Nursing Homes
Retirement Homes
Mental Healthcare Centers

Regional Outlook:

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

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About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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