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Global Medical Alert Systems Market Report and Forecast 2023-2031
Market Report I 2023-04-25 I 147 Pages I EMR Inc.
Global Medical Alert Systems Market Report and Forecast 2023-2031
Global Medical Alert Systems Outlook
The growth of the medical alert systems market size is being driven by the rising technological advancements in medical alert systems across the globe. The market attained a value of about USD 7.53 billion in 2022 and is further expected to grow at a CAGR of 9.54% to attain a value of about USD 17.10 billion by 2031.
Medical Alert Systems: Introduction
Global medical alert systems are electronic devices designed to quickly and efficiently summon help in an emergency. They are typically worn as a pendant or bracelet and are equipped with a button that, when pressed, sends a signal to a monitoring centre or a caregiver. The device is designed to be used in situations where the wearer is unable to reach a phone or other communication device, such as a fall, medical emergency, or a sudden illness. The system is often used by older adults who live alone, individuals with chronic medical conditions, and people with disabilities.
Medical alert systems are typically available in two forms: monitored and unmonitored. Monitored systems are connected to a 24/7 monitoring centre, where trained professionals can assess the situation and contact emergency services if necessary. Unmonitored systems, on the other hand, send a signal directly to a caregiver or family member, who can then respond as needed.
These systems are not only helpful for the patient but also provide peace of mind for their caregivers, who know that help is just a button-press away. Medical alert systems have become increasingly popular in recent years due to the growing aging population, the rise in chronic medical conditions, and the desire for older adults to live independently for longer.
Alert Systems: Application and Uses
Medical alert systems are devices designed to alert healthcare professionals or emergency services in the event of a medical emergency, particularly in the case of elderly or disabled individuals who may be living alone. These systems can be used in a variety of settings, including hospitals, long-term care facilities, and private homes.
One common use of medical alert systems is in the home healthcare setting, where patients may require frequent monitoring or assistance due to chronic health conditions or recovery from surgery. The devices can also be used by elderly or disabled individuals living independently to alert emergency services in the event of a fall or other medical emergency.
Medical alert systems may include wearable devices such as necklaces or bracelets that can detect falls or changes in vital signs, as well as stationary devices placed in the home that can trigger an alarm in the event of an emergency. These devices may also include features such as GPS tracking, two-way communication, and medication reminders.
Overall, medical alert systems are designed to provide peace of mind for patients and their families, as well as to ensure that emergency services can be quickly alerted in the event of a medical emergency.
Global Medical Alert Systems: Market Segmentations
Market Breakup by Product
- Personal Emergency Response System
- Nurse Calling System
- Smart Belt
Market Breakup by Offering
- Hardware
- Console Unit
- Transmitter
- Wristband Transmitter
- Pendant Transmitter
- Sensors
- Services
- Subscription-based Monitoring
- Mobile Application-based Monitoring
Market Breakup by Connection Type
- Wired
- Wireless
Market Breakup by Communication Technologies
- Two-way Voice Systems
- Unmonitored Medical Alert Systems
- Medical Alert Alarm (Button) Systems
- VoIP-based Systems
Market Breakup by Distribution Channel
- Pharmacies
- Online Channels
- Hypermarkets
Market Breakup by End User
- Home-Based User
- Senior Living Facilities
- Hospitals and Nursing Homes
- Assisted Living Facilities
- Others
Market Breakup by Region
North America
- United States of America
- Canada
Europe
- United Kingdom
- Germany
- France
- Italy
- Others
Asia Pacific
- China
- Japan
- India
- ASEAN
- Australia
- Others
Latin America
- Brazil
- Argentina
- Mexico
- Others
Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Nigeria
- South Africa
- Others
Global Medical Alert Systems Market Scenario
The global medical alert systems market is expected to see significant growth in the coming years due to the increasing elderly population and the growing prevalence of chronic diseases. Medical alert systems are designed to provide immediate assistance to individuals in case of medical emergencies, falls, or accidents. These systems are widely used in home healthcare, hospitals, and senior living facilities.
The market is also being driven by technological advancements in medical alert systems, such as the integration of wireless and cellular communication technologies, GPS tracking, and wearable devices. The use of artificial intelligence and machine learning algorithms in medical alert systems is also expected to drive market growth.
Geographically, North America dominates the global medical alert systems market, followed by Europe and Asia Pacific.
Factors such as rising healthcare expenditure, increasing government support, and the adoption of advanced technologies are expected to drive market growth in the coming years. However, the high cost of medical alert systems and concerns over data privacy and security may hinder market growth to some extent.
Key Players in the Global Medical Alert Systems Market
The report gives an in-depth analysis of the key players involved in the global medical alert systems market. The companies included in the market are as follows:
- Koninklijke Philips N.V.
- Connect America LLC
- Medical Guardian, LLP
- ADT Inc.
- Bay Alarm Medical
- Life Alert Emergency Response, Inc.
- SafeGuardian LLC Help Alert
- Nortek Security and Control
- ALERTONE SERVICES LLC
- Ascom Wireless Solutions
- American Response Technologies
- Medical Guardian
- Hill-Rom Holdings Inc.
1 Preface
1.1 Objectives of the Study
1.2 Key Assumptions
1.3 Report Coverage - Key Segmentation and Scope
1.4 Research Methodology
2 Executive Summary
3 Global Medical Alert Systems Market Overview
3.1 Global Medical Alert Systems Market Historical Value (2016-2022)
3.2 Global Medical Alert Systems Market Forecast Value (2023-2031)
4 Global Medical Alert Systems Market Landscape
4.1 Global Medical Alert Systems Developers Landscape
4.1.1 Analysis by Year of Establishment
4.1.2 Analysis by Company Size
4.1.3 Analysis by Region
4.2 Global Medical Alert Systems Product Landscape
4.2.1 Analysis by Product
4.2.2 Analysis by Offering
4.2.3 Analysis by Connection Type
4.2.4 Analysis by Communication Technology
4.2.5 Analysis by Distribution Channel
4.2.6 Analysis by End User
5 Global Medical Alert Systems Market Dynamics
5.1 Market Drivers and Constraints
5.2 SWOT Analysis
5.3 Porter's Five Forces Model
5.4 Key Demand Indicators
5.5 Key Price Indicators
5.6 Industry Events, Initiatives, and Trends
5.7 Value Chain Analysis
6 Global Medical Alert Systems Market Segmentation
6.1 Global Medical Alert Systems Market by Product
6.1.1 Market Overview
6.1.2 Personal Emergency Response System
6.1.3 Nurse Calling System
6.1.4 Smart Belt
6.2 Global Medical Alert Systems Market by Offering
6.2.1 Market Overview
6.2.2 Hardware
6.2.2.1 Console Unit
6.2.2.2 Transmitter
6.2.2.3 Wristband Transmitter
6.2.2.4 Pendant Transmitter
6.2.2.5 Sensors
6.2.3 Services
6.2.3.1 Subscription-based Monitoring
6.2.3.2 Mobile Application-based Monitoring
6.3 Global Medical Alert Systems Market by Connection Type
6.3.1 Market Overview
6.3.2 Wired
6.3.3 Wireless
6.4 Global Medical Alert Systems Market by Communication Technologies
6.4.1 Market Overview
6.4.2 Two-way Voice Systems
6.4.3 Unmonitored Medical Alert Systems
6.4.4 Medical Alert Alarm (Button) Systems
6.4.5 VoIP-based Systems
6.5 Global Medical Alert Systems Market by Distribution Channel
6.5.1 Market Overview
6.5.2 Pharmacies
6.5.3 Online Channels
6.5.4 Hypermarkets
6.6 Global Medical Alert Systems Market by End User
6.6.1 Market Overview
6.6.2 Home-Based User
6.6.3 Senior Living Facilities
6.6.4 Hospitals & Nursing Homes
6.6.5 Assisted Living Facilities
6.6.6 Others
6.7 Global Medical Alert Systems Market by Region
6.7.1 Market Overview
6.7.2 North America
6.7.3 Europe
6.7.4 Asia Pacific
6.7.5 Latin America
6.7.6 Middle East and Africa
7 North America Medical Alert Systems Market
7.1 Market Share by Country
7.2 United States of America
7.3 Canada
8 Europe Medical Alert Systems Market
8.1 Market Share by Country
8.2 United Kingdom
8.3 Germany
8.4 France
8.5 Italy
8.6 Others
9 Asia Pacific Medical Alert Systems Market
9.1 Market Share by Country
9.2 China
9.3 Japan
9.4 India
9.5 ASEAN
9.6 Australia
9.7 Others
10 Latin America Medical Alert Systems Market
10.1 Market Share by Country
10.2 Brazil
10.3 Argentina
10.4 Mexico
10.5 Others
11 Middle East and Africa Medical Alert Systems Market
11.1 Market Share by Country
11.2 Saudi Arabia
11.3 United Arab Emirates
11.4 Nigeria
11.5 South Africa
11.6 Others
12 Patent Analysis
12.1 Analysis by Type of Patent
12.2 Analysis by Publication year
12.3 Analysis by Issuing Authority
12.4 Analysis by Patent Age
12.5 Analysis by CPC Analysis
12.6 Analysis by Patent Valuation
12.7 Analysis by Key Players
13 Grants Analysis
13.1 Analysis by year
13.2 Analysis by Amount Awarded
13.3 Analysis by Issuing Authority
13.4 Analysis by Grant Application
13.5 Analysis by Funding Institute
13.6 Analysis by NIH Departments
13.7 Analysis by Recipient Organization
14 Funding Analysis
14.1 Analysis by Funding Instances
14.2 Analysis by Type of Funding
14.3 Analysis by Funding Amount
14.4 Analysis by Leading Players
14.5 Analysis by Leading Investors
14.6 Analysis by Geography
15 Partnership and Collaborations Analysis
15.1 Analysis by Partnership Instances
15.2 Analysis by Type of Partnership
15.3 Analysis by Leading Players
15.4 Analysis by Geography
16 Regulatory Framework
16.1 Regulatory Overview
16.1.1 US FDA
16.1.2 EU EMA
16.1.3 INDIA CDSCO
16.1.4 JAPAN PMDA
16.1.5 Others
17 Supplier Landscape
17.1 Koninklijke Philips N.V.
17.1.1 Financial Analysis
17.1.2 Product Portfolio
17.1.3 Demographic Reach and Achievements
17.1.4 Mergers and Acquisitions
17.1.5 Certifications
17.2 Connect America LLC
17.2.1 Financial Analysis
17.2.2 Product Portfolio
17.2.3 Demographic Reach and Achievements
17.2.4 Mergers and Acquisitions
17.2.5 Certifications
17.3 Medical Guardian, LLP
17.3.1 Financial Analysis
17.3.2 Product Portfolio
17.3.3 Demographic Reach and Achievements
17.3.4 Mergers and Acquisitions
17.3.5 Certifications
17.4 ADT Inc.
17.4.1 Financial Analysis
17.4.2 Product Portfolio
17.4.3 Demographic Reach and Achievements
17.4.4 Mergers and Acquisitions
17.4.5 Certifications
17.5 Bay Alarm Medical
17.5.1 Financial Analysis
17.5.2 Product Portfolio
17.5.3 Demographic Reach and Achievements
17.5.4 Mergers and Acquisitions
17.5.5 Certifications
17.6 Life Alert Emergency Response, Inc.
17.6.1 Financial Analysis
17.6.2 Product Portfolio
17.6.3 Demographic Reach and Achievements
17.6.4 Mergers and Acquisitions
17.6.5 Certifications
17.7 SafeGuardian LLC Help Alert
17.7.1 Financial Analysis
17.7.2 Product Portfolio
17.7.3 Demographic Reach and Achievements
17.7.4 Mergers and Acquisitions
17.7.5 Certifications
17.8 Nortek Security and Control
17.8.1 Financial Analysis
17.8.2 Product Portfolio
17.8.3 Demographic Reach and Achievements
17.8.4 Mergers and Acquisitions
17.8.5 Certifications
17.9 ALERTONE SERVICES LLC
17.9.1 Financial Analysis
17.9.2 Product Portfolio
17.9.3 Demographic Reach and Achievements
17.9.4 Mergers and Acquisitions
17.9.5 Certifications
17.10 Ascom Wireless Solutions
17.10.1 Financial Analysis
17.10.2 Product Portfolio
17.10.3 Demographic Reach and Achievements
17.10.4 Mergers and Acquisitions
17.10.5 Certifications
17.11 American Response Technologies
17.11.1 Financial Analysis
17.11.2 Product Portfolio
17.11.3 Demographic Reach and Achievements
17.11.4 Mergers and Acquisitions
17.11.5 Certifications
17.12 Medical Guardian
17.12.1 Financial Analysis
17.12.2 Product Portfolio
17.12.3 Demographic Reach and Achievements
17.12.4 Mergers and Acquisitions
17.12.5 Certifications
17.13 Hill-Rom Holdings Inc.
17.13.1 Financial Analysis
17.13.2 Product Portfolio
17.13.3 Demographic Reach and Achievements
17.13.4 Mergers and Acquisitions
17.13.5 Certifications
18 Global Medical Alert Systems Market - Distribution Model (Additional Insight)
18.1 Overview
18.2 Potential Distributors
18.3 Key Parameters for Distribution Partner Assessment
19 Key Opinion Leaders (KOL) Insights (Additional Insight)
20 Company Competitiveness Analysis (Additional Insight)
20.1 Very Small Companies
20.2 Small Companies
20.3 Mid-Sized Companies
20.4 Large Companies
20.5 Very Large Companies
21 Payment Methods (Additional Insight)
21.1 Government Funded
21.2 Private Insurance
21.3 Out-of-Pocket
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