Global medical alert system market to reach USD 20.95 billion by 2030

The “Global medical alert system market size, trends, by offering type, by system type, by technology type, by region: Global opportunity analysis and industry forecast, 2023-2030” report has been added to ResearchAndMarkets.com’s offering.

The global medical alert system market was valued at US$ 7.17 Bn in 2022, estimated to reach US$ 20.95 Bn by 2030, with a CAGR of 13.09% from 2023-2030.

Market drivers
The industry has had significant growth over the past few decades, which has been fueled by several factors including the aging population and growing public awareness of the need for a medical alert system. Due to the growing geriatric population and increased public awareness of the medical system globally, the medical vigilant system, which can be used by senior citizens, the disabled, or people with brain diseases to receive quick help in an emergency, is in high demand.

Furthermore, the rising number of elderly patients is a significant driving force behind the enormous growth in the global market for medical vigilant systems because chronic pain is relatively common among the geriatric population and is considered an independent risk factor for mortality.

Market restraints
Growth in the global market for medical alert systems is hampered by fierce manufacturer competition, and a rise in bulk purchases of these systems through GPOs, and INHs.

Regional analysis
The global medical alert system market is segmented into 5 main regions, namely, North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

North America dominated the market for medical alert systems during the forecast period. Several factors, including the presence of important players locally, established healthcare infrastructure, and technological advancements, account for a sizable portion of this. PERS is becoming more necessary as the prevalence of Alzheimer’s disease and other forms of dementia rises.

Due to the rising senior population and rising prevalence of chronic diseases, Asia Pacific is predicted to have the quickest growth throughout the projection period. Additionally, the market is anticipated to be driven by the demand for better healthcare facilities and a rise in home-based health programs. Additionally, it is anticipated that increased mobile health deployments in this area will increase demand for PERS.

Market taxonomy
By offering type

• Hardware
• Services

By system type

• Personal emergency response system
• Nurse calling system
• Smart belt

By technology type

• Two-way voicesystems
• Medical alert alarm system
• IP based systems

By region

• North America
• US
• Canada
• Mexico
• Latin America
• Brazil
• Argentina
• Colombia
• Peru
• Chile
• Venezuela
• Rest of Latin America
• Europe
• Germany
• France
• UK
• Russia
• Italy
• Spain
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Australia
• New Zealand
• Singapore
• Malaysia
• Rest of Asia Pacific
• Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest Middle East & Africa

Companies mentioned

• Koninklijke Philips N.V.
• Connect America
• Medical Guardian
• Hill-Rom Holdings Inc.
• Jeron Electronics Systems Inc.
• Bay Alarm Medical
• MobileHelp
• Ascom Wireless Solutions
• ADT Corporation
• Life Fone

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