At 6.1% CAGR, Personal Emergency Response Systems (PERS) Market to reach USD 9452.5 Million by 2025 | Growth Analysis By Regional Players | 2020-2025
Pune, Maharashtra, India, September 4 2020 (Wiredrelease) Brandessence Market Research and Consulting Pvt ltd –:Personal Emergency Response Systems (PERS) Market is valued at USD 6245.1 Million in 2018 and expected to reach USD 9452.5 Million by 2025 with a CAGR of 6.1% over the forecast period.
Key Players –
Some major key players for Global Personal Emergency Response Systems (PERS) Market are Koninklijke Philips N.V., Medical Guardian LLC, AlertOne Services LLC, Bay Alarm Medical, Tunstall, GreatCall, Rescue Alert, LogicMark, ADT Security Services, VRI, Inc., Life Alert Emergency Response, Inc., Nortek Security and Control and others.
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Market Analysis of Personal Emergency Response Systems (PERS)-
Personal emergency response systems are the devices which let the user to call for help in an emergency by pushing a button. It has three components: a small radio transmitter, a console connected to the user’s telephone and an emergency response center that monitors calls. In the event of an injury, disaster, burglary, or other emergency, the button on the device is pressed and the response center dispatch is alerted to send help immediately. That help may come in the form of a family member, friend, neighbour or emergency personnel – depending on the emergency situation. It is very beneficial for seniors who have a history of falling or have been identified as having a high fall risk, older individuals who live alone and people who have mobility issues. Some PERS products offer automatic fall detection, which uses technology to detect falls, and triggers a call for help, even when the wearer is unable to press their medical alert button. For example; every 11 seconds, an older adult is treated in an emergency room (ER) for some type of injury related to a fall, according to the National Council on Aging (NCOA).
According to CDC; there are approximately 645 fall-related emergency room visits for every 10,000 elderly persons. The next most common reason for seeking immediate medical treatment for individuals in this age range is motor vehicle traffic, which includes injuries sustained in an automobile accident. Due to this higher likelihood of falling, it can be extremely beneficial to have a personal emergency response system if an older person finds him or herself in this type of situation and in the need of medical assistance. Increasing advancements in the field of mobile technology, these personal response systems are no longer for use just inside the home. Depending on the system and its monitoring options, user can obtain assistance even while on the go which provides a greater level of independence and assurance during vacations, while running errands, or otherwise outside the primary residence.
The regions covered in this Personal Emergency Response Systems (PERS) Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, the market of Personal Emergency Response Systems (PERS) is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.
Increasing Geriatric Population and Increasing Prevalence of Chronic Diseases Drive the Market Growth.
The major factor driving the growth of global personal emergency response systems (PERS) market is increasing geriatric population coupled with the increasing prevalence of chronic diseases. For example; The United Nations reported that the world’s population of elderly who are 60 years old will double and those who are 80 years old will triple during the next 30 years at the same time as other age groups will decrease in number (Department of Economic and Social Affairs Population Division, 2017). The most common of the chronic diseases are cardiovascular disease, diabetes, cancer and chronic respiratory disease, Together, they account for 41 million deaths in the world every year, and this number is increasing (World Health Organization).
Standalone PERS, Landline PERS, Mobile PERS, Others
Home-based Users, Assisted Living Facilities, Nursing Homes
HospitalsNorth America is Expected to Dominate the Global Personal Emergency Response Systems (PERS) Market
The global personal emergency response systems (PERS) market is segmented into North America, Europe, Asia-Pacific Latin America and Middle East & Africa. North America is expected to dominate the global personal emergency response systems (PERS) market within the forecast period attributed to the highly developed healthcare infrastructure in this region. In addition, increasing healthcare expenditure and presence of leading players in this region are also fostering the market growth. Furthermore, high investment on research & development and increasing prevalence of chronic diseases are also anticipated to supplement the demand for personal emergency response systems in this region within the forecast period. Europe is projected to capture the second largest share of global personal emergency response systems (PERS) market owing to the increasing geriatric population in this region.
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