Personal Emergency Response Systems (PERS) Market Size, Share, Growth, and Industry Analysis, By Type (Mobile Type, Landline Type, Standalone Type), By Application (Inside the Home, Outside the Home), and Regional Forecast to 2027

Updated On: 22 April 2024

REPORT OVERVIEW

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The global personal emergency response systems (PERS) market size was 7.1433 billion in 2020. As per our research, the market is expected to reach USD 10.81 billion by 2027, exhibiting a CAGR of 6.1% during the forecast period. The COVID-19 pandemic has been unprecedented and staggering, personal emergency response systems (PERS) experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

A personal emergency response systems (PERS) consists of three components: a tiny radio transmitter, a console that is connected to the phone, and an emergency response center that keeps track of calls.  The personal emergency response systems (PERS) present the help key on the transmitter when emergency assistance (medical, fire, or police) is requested.   To the console, it sends a radio signal.  A pre-selected emergency contact number or more are automatically dialed by the console. Wherever the call is recognized, the majority of personal emergency response systems (PERS) are added to the telephone and emergence response center.  The center will make an effort to determine the emergency's type.  The professionals at the center may also assess medical histories and determine who needs to be informed.

Emergency service providers will be advised to return home if the center is unable to reach the emergency and determine whether it has survived.  With the majority of systems, the center will keep an eye on the location until the situation is handled. You can purchase, rent, or lease a personal emergency response systems.  Hospitals, social service organizations, local distributors, national manufacturers, and national manufacturers all offer rentals.  Due to their affordability and accessibility, these systems are becoming more and more popular as home health care equipment utilization rises. These systems assure both personal and medical safety.

COVID-19 Impact

"Supply and Isolation Limitations to Advance Market Advancement"

The need for effective health care networks and systems has increased as a result of the SARS-CoV-2 outbreak, which has increased the need for a multimodal public health strategy. Due to lockdown restrictions imposed by governments, it is challenging for older people to walk outside to obtain necessities like medications, which fueled the need for personal emergency response systems for aged care.

LATEST TRENDS 

"Two-Way Conversations and Medication Reminders to Stimulate Market Development "

It is also projected that developments into personal emergency response systems (PERS) market, including two-way conversations and medication reminder notifications, will fuel the market's expansion. Companies within the personal emergency response systems (PERS) market growth are concentrating on integrating modern technologies such as account management for billing, sharing documents, and real-time access to individualized treatment plans.  For instance, Philips Cares app, which keeps tabs on the patient's health and provides prescription reminders, was announced by Philips Lifeline in January 2019.

SEGMENTATION

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• By Type

Based on type; the market is divided into mobile type, landline type, standalone type

Mobile type is the leading part of the type segment.

• By Application

Based on the application; the market is divided into inside the home, outside the home

Inside the home is the leading part of the application segment.

DRIVING FACTORS

"Aging Population to Aid Market Expansion"

The personal emergency response systems (PERS) market share is primarily driven by the aging population, rising health consciousness, expected adoption rates of these devices, and technological advancements.  The market for personal emergency response systems is predicted to develop as a result of improved medical alert services and the growing popularity of mobile smartphone applications for managing the health of senior adults.  As the world's population ages and more people want to live active lives in independent living communities, the requirement of personal emergency response systems is rising.

 "Requirement for Home-Based Consumers to Foster Industry Progress "

The personal emergency response systems (PERS) market is divided into home-based users, assisted living facilities, nursing homes, and Hospices based on application.  The category of users who work from home is anticipated to experience the highest CAGR during the projection period. The expanding use of emergency medical alert system suppliers now have more chances thanks to technologies including AI and IoT, which has improved the effectiveness of these systems.  Due to the independence it gives senior individuals who wish to live independently but yet have care provided in circumstances involving an emergency, the requirement for home-based consumers is anticipated to remain high. 

RESTRAINING FACTORS 

"Issues of Maturity and Aggressive Sales Tactics to Hinder Market Advancement"

The simplicity of these conventional techniques, however, makes them ineffective for real protection and life management.  Issues of maturity and aggressive sales tactics that are not appropriate for long-term growth have also functioned as a  hindrance for the personal emergency response systems (PERS) market when it emerged from the securities sector.

REGIONAL INSIGHTS

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"Increasing Prevalence of Chronic Diseases in Asia Pacific to Support Market Advancement  "

Due to the expanding elderly population and increasing prevalence of chronic diseases, Asia Pacific is anticipated to experience the fastest growth in the global market over the forecast period. Additionally, it is projected that the market would be driven by the need for better healthcare facilities and a rise in home-based health programs. Therefore, it is projected that the market for medical alert systems in this region would develop in the future due to rising technology advancements, rising public awareness, and rising foreign player investments.

KEY INDUSTRY PLAYERS 

"Key Players Focus on Partnerships to Gain a Competitive Advantage"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

The analyst provides a comprehensive picture of the market through the study, synthesis, and summarization of data from various sources, as well as an examination of important variables such as financial gain, sales prices, competition, and promotions. It identifies the key industry influencers and presents various market facets. The information provided is thorough, reliable, and the result of extensive primary and secondary research. The market report provides a comprehensive competitive landscape as well as an in-depth vendor evaluation methodology and analysis based on both qualitative and quantitative studies to accurately forecast market growth.

The reports cover important advances with in market, as well as inorganic and organic growth strategies. Various companies are concentrating on organic business expansion such as product announcements, product approvals, and other things like patents and events. Acquisitions, partnerships, and collaborations were among the inorganic growth strategies observed in the market. The above activities have paved the way for market participants to expand their business and customer base. With the growing demands for filter products in the international market, market participants in the market are expected to benefit from substantial growth opportunities in the near future.

List of Market Players Profiled 

• Philips Lifeline (U.S.)
• ADT (U.S.)
• Tunstall (U.K.)
• Greatcall (U.S.)
• Alert-1 (U.S.)
• Connect America (U.S.)
• Bay Alarm Medical (U.S.)
• Life Alert (U.S.)
• Rescue Alert (U.S.)
• Mobile Help (U.S.)
• Medical Guardian (U.S.)
• LifeStation (U.S.)
• Galaxy Medical Alert Systems (U.S.)
• Lifefone (India)
• Better Alerts (U.S.)
• MediPedant (Brazil)
• VRI Cares (U.S.)

REPORT COVERAGE

This research offers a thorough analysis of the global market, covering all relevant areas. This includes everything from a broad market overview to micro-level information about size of the market, degree of competition, evolution trend, opportunities in the market, important market drivers, and SWOT opportunities and threats. The reader can use the study to influence industry competitiveness and competitive environment strategies to increase potential profit. Additionally, it offers a straightforward framework for assessing and gaining access to the situation of the corporate organization.

In a nutshell, this study should be read by all market participants, traders, academics, analysts, business planners, and anyone else with an interest in the market. The market competitive landscape is another area that the report structure focuses on. This report presents in depth information the share of the market, macroeconomic indicators, product scenario, operation circumstances of the major players, which aids readers in the industry in recognizing the key rivals and better understanding the market's competitive landscape.