Growing awareness towards healthcare and increasing prevalence of chronic diseases is expected to drive the global personal emergency response systems market in forecast period.
According to TechSci Research report, “Global Personal Emergency Response Systems Market By Type (Mobile {Cellular, Wireless, GPS-Based}, Landline, Standalone {Transmitters, R-Cube/ V-Cube, Wandering System}, Mobile Apps) By End User (Hospitals & Clinics, Home Based User, Senior Living Systems, Assisted Living Facilities) By Company, By Region, Forecast & Opportunities, 2026”, global personal emergency response systems market is expected to witness significant growth for the next five years. Personal emergency response system are medical devices where individuals can contact healthcare facilities or other family members in case of medical emergencies. Personal emergency response system consists of transmitter enabled electronic devices which is connected to a base unit. This device has one button installed on it which instantly alerts the nearby healthcare facilities upon pressing the button. Personal response emergency system devices can be used for general purpose to ensure safety while travelling or living alone. The devices which have wire connected with it are in high demand from old age population who live independently. Wired personal response emergency system are most reliable and can be used through standard phone line or advanced phone line or digital subscriber line phone services. Also, the rise in number of people having health insurance coverage is expected to foster the demand for healthcare facilities and emergency alert systems.
Due to ongoing pandemic COVID-19, lockdown was imposed in several economies which pushed the organizations to give the facility of work from home to their employees. Even, after the lockdown was lifted, organizations continued the work from home culture to safeguard their employees and follow the strict precautionary measures. Work from home uses Software -as-a-Service-based collaboration solutions which uses personal emergency response systems technology. There is also surge in online video meetings from the organizations to maintain proper communication among employees which boosted the personal emergency response systems market.
However, high cost involved for manufacturing personal emergency response systems and concerns regarding the data security is expected to restrain the growth of the personal emergency response system market.
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Global personal emergency response systems market is segmented into type, end user, regional distribution, and company. Based on type, market can be further divided into mobile, landline, standalone, and mobile apps. The mobile segment is expected to dominate the market for the forecast period, 2022-2026 as it uses combination of cellular, GPS and Wi-Fi technology, therefore can provide hands-free and instant communication between emergency centre and individuals. Based on end user, market can be fragmented into hospitals & clinics, home based user, senior living systems, and assisted living facilities. The home-based user is expected to register significant growth during the next five years. Introduction of smart medical systems with higher efficiency and performance is expected to foster the demand for home-based user segment. High demand for emergency response system from old age population who live alone and require the services in case of medical emergencies is accelerating the demand for personal emergency response system for the next five years.
Koninklijke Philips N.V., LifeWatch Services, Inc., Tunstall Healthcare, ADT LLC, Medical Guardian LLC, Nortek Security & Control Inc., Honeywell international, inc., Bay Alarm Company, Alertone Services LLC, Cisco Systems, Inc are the leading players operating in global personal emergency response systems market. Service Providers are increasingly focusing on research and development process to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several personal emergency response systems providers are coming up with their technologically advanced offerings.
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“High-end investments by major players to upgrade the existing infrastructure and adopt advanced technologies such as latest devices can be connected via Wi-Fi installed at residential spaces for constant monitoring and to track the activities to provide effective treatment to patients. Large number of healthcare facilities are installing personal emergency response systems to provide extra protection to patients and ensure no unauthorized entry or exit from healthcare facilities. Launch of new products containing features like automatic fall detection, location tracing and automatic call assistance is further expected to propel the market growth till 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Personal Emergency Response Systems Market By Type (Mobile {Cellular, Wireless, GPS-Based}, Landline, Standalone {Transmitters, R-Cube/ V-Cube, Wandering System}, Mobile Apps) By End User (Hospitals & Clinics, Home Based User, Senior Living Systems, Assisted Living Facilities) By Company, By Region, Forecast & Opportunities, 2026” has evaluated the future growth potential of global personal emergency response systems market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the of global personal emergency response systems market.
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