Medical Alert Systems Market Research Report Segmented By System Type (Personal Emergency Response System (PERS), Nurse Calling System (NCS), Smart Belt); Offering (Hardware, Console Unit, Transmitter, Wristband Transmitter, Pendant Transmitter, Battery, Others(Subscription Revenue)); Technology (Two-way Voice Systems, Unmonitored Medical Alert Systems, Medical Alert Alarm (Button) System, IP-based Systems); Distribution Channel (Pharmacies, Online Sales, Hypermarkets); Connection Type (Wired, Wireless); Application (Home-Based users, Senior Living Facilities/Senior Care Centers, Assisted Living Facilities,Hospitals and Clinics, Others (Nursing Homes, Retirement Homes, Mental Healthcare Centers)); and Region - Size, Share, Growth Analysis | Forecast (2024 2030)

Medical Alert Systems Market Size Projection (2024 - 2030)

The anticipated trajectory of the global Medical Alert Systems Market foresees a growth to USD 12.97 billion by 2030 from its 2022 valuation of USD 25.11 billion, showcasing a Compound Annual Growth Rate (CAGR) of 9.90% throughout the period spanning 2022 to 2030.

Commonly referred to as Personal Emergency Response Systems (PERS), medical alert systems represent alarm devices crucial for signaling during emergencies. Their application extends to various domains such as Nurse call systems, PERS, and Ambulatory Auto Alert Systems, ensuring the safety of patients. Primarily designed for the elderly and individuals with prolonged health conditions, medical alert systems play a pivotal role in providing timely assistance.

Impact of COVID-19 on the Medical Alert Systems Market:

The global pandemic induced by the novel coronavirus (COVID-19), caused by the SARS-CoV-2 virus, has been officially declared a pandemic by the World Health Organization (WHO). The resulting lockdown measures implemented by nations worldwide have significantly impacted various sectors, leading to adverse effects on businesses. Notably, the older demographic has borne the brunt of the pandemic. Paradoxically, the medical alert systems market has experienced a positive upswing amidst these challenging times.

Market Drivers:

Several factors propel the growth of the medical alert systems market.

The increasing elderly population grappling with chronic ailments, coupled with a rising adoption of medical alert devices to facilitate independent living, serve as major catalysts. Government initiatives, such as healthcare reforms and budgetary support specifically targeting senior citizens, contribute significantly. Furthermore, heightened consumer awareness regarding the advantages of technology in this domain accelerates market expansion. The proliferation of hospitals, coupled with a growing patient population and advancements in technology, further fuels the upward trajectory of the medical alert systems market.

Market Restraints:

In the United States and Canada, the market for medical alert systems faces constraints due to restrictive reimbursement policies. Additionally, challenges arise from the increased occurrence of false alarms and a reluctance to adopt technology among certain senior demographics, hindering market growth.

Segment Analysis:

The global Medical Alert Systems Market is categorized and sub-categorized based on system type, offering, technology, distribution channel, connection type, and application.

Medical Alert Systems Market - By System Type

• 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

The PERS segment and the mobile PERS segment collectively constitute a significant market share. The growth of the M-PERS segment is attributed to the increasing adoption of smartphones, providing mobility to senior citizens and enhancing their individual lives.

Medical Alert Systems Market - By Offering

• Hardware
• Console Unit
• Transmitter
• Wristband Transmitter
• Pendant Transmitter
• Battery
• Others (Subscription Revenue)

The hardware segment leads the medical alert systems market by offering. Alert devices, such as wristbands and pendants, equipped with batteries and transmitters, are commonly used.

Medical Alert Systems Market - By Technology

1. Two-way Voice Systems
2. Unmonitored Medical Alert Systems
3. Medical Alert Alarm (Button) System
4. IP-based Systems

Throughout the timeline period, two-way voice systems dominate the medical alert systems market. These systems find widespread applications in homes, clinics, and hospitals.

Medical Alert Systems Market - By Distribution Channel

1. Pharmacies
2. Online Sales
3. Hypermarkets

The online sales distribution channel is anticipated to lead the medical alert systems market. The ease of online purchases and the availability of various models contribute to market growth.

Medical Alert Systems Market - By Connection Type

1. Wired
2. Wireless

Wireless medical alert systems globally dominate market growth due to increased adoption driven by mobility, advancements in mobile personal emergency response systems, and the rising use of smart devices like smartphones, especially among older individuals who maintain active lifestyles.

Medical Alert Systems Market - By Application

1. Home-Based Users
2. Senior Living Facilities/Senior Care Centers
3. Assisted Living Facilities
4. Hospitals and Clinics
5. Others (Nursing Homes, Retirement Homes, Mental Healthcare Centers)

• The home-based user segment leads the medical alert systems market in terms of application, driven by the growing adoption of mobile and landline alert systems and the availability of technologically advanced devices.
• Medical Alert Systems Market - By Regional Analysis: North America holds the largest share in the medical alert systems market, with continued dominance expected. The growth is supported by a robust healthcare infrastructure, advanced technologies, and an increasing demand for augmented healthcare amenities.
• Europe, the second-largest region after North America, is experiencing significant growth in the medical alert systems market. The aging population in countries like France, Germany, the UK, and Italy is driving the demand for medical alert systems.
• Asia-Pacific is poised to be the fastest-growing region during the forecast period, driven by a rising aging population, increasing cases of chronic diseases, and developed healthcare facilities.
• Latin America and the Middle East & African regions are in their early stages and expected to witness substantial growth in the coming years.
• Medical Alert Systems Market - Key Players Major players in the global medical alert systems market include Philips (Netherlands), Medical Guardian (US), Connected America (US), ADT (US), Valued Relationships (US), Guardian Alarm (US), MobileHelp (US), Alert1 (US), Bay Alarm Medical (US), and LifeFone (US).
• In 2018, three major companies, ZTE, Wearsafe, and Qualcomm, collaborated to integrate personal security tracking systems with wearable devices, offering numerous opportunities in the upcoming years.
• In August 2019, MobileHelp, a provider of M-PERS technology, introduced novel designs to its Trelawear emergency response jewelry collection.
• Notable Happenings in the Global Medical Alert Systems Market On July 06, 2021, Connected America LLC completed its acquisition of the Aging and Caregiving business from Royal business.
• On October 29, 2020, MobileHelp introduced a new product, Micro, providing wearable comfort with a compact size and weight.
• On June 29, 2021, Medical Guardian introduced a new personal emergency response system in collaboration with BLACK + DECKER to support and promote mobility for elders.