Growing ageing population, large investments in new advanced technologies and financial assistance to elderly people provided by various governments to drive global medical alert systems through 2025
According to TechSci Research report, “Global Medical Alert Systems Market By Connection, By Type, By End User, By Region, Competition, Forecast & Opportunities, 2025”, the global medical alert systems market is projected to grow at a double digit CAGR and reach $11.7 billion by 2025. Growth in global medical alert systems market can be attributed to rising elderly population, favorable healthcare reforms, inclination towards independent living and financial assistance provided by the governments across the globe. Moreover, large investments in advanced technologies and implementation of AI and IoT are boosting the adoption of medical alert systems, globally.
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The global medical alert systems market can be segmented based on connection, type, end user and region. In terms of connection, the market can be bifurcated into wired and wireless. In, 2019, wired systems dominated the market and the trend is likely to continue due to extensive adoption of wired medical alert systems. However, wireless segment is also anticipated to witness brisk growth during the forecast period due to the introduction of smart wearable device coupled with increasing technological advancements.
Based on type, the market can be segmented into landline, mobile and standalone. Currently, landline is the most popular type of medical alert system used across the world. Sales of mobile medical alert systems are also anticipated to grow at impressive rate in the forthcoming years due to the mobility they provide to the elders, thereby aiding in maintaining an active lifestyle. Mobile systems can be used from anywhere and use GPS technology to get the location and cellular technology to connect to response center.
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“North America is at the forefront of the global medical alert systems market due to the early adoption of the technology and presence of major companies in the region. Although Asia Pacific is expected to register highest growth during the forecast period due increasing consumer awareness about such systems and several supportive initiatives taken by the governments across the region.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm. Connect America, Philips Lifeline, ADT Inc, Alert-1, Bay Alarm Medial, Tunstall, Great Call Medical Guardian, LifeStation Inc., LifeFone, Nortek Security and Control, VRI Inc, among others, are among the leading players operating in the global medical alert systems market.
“Global Medical Alert Systems Market By Connection, By Type, By End User, By Region, Competition, Forecast & Opportunities, 2025” has evaluated the future growth potential of global medical alert systems market and provides statistics & information on market size, 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 global medical alert systems market.
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