Personal emergency response systems Market are projected to reach worth USD 5.05 Billion by 2023.

December 11 22:34 2018

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Personal Emergency Response Systems Market – Segmented By Type, End User, And By Region – Global Growth, Trends, And Forecast -2023

Market Overview:

In the year 2018 Global Personal emergency response systems Market was valued at USD 3.88 billion. By the year 2023, it is predicted to reach USD 5.05 billion with pace of 5.4% CAGR.

Personal emergency response systems (PERS), also known as medical emergency response systems, which allow users to call for help in an emergency by pushing a button. This device consists of three components such as small radio transmitter, console connected to the telephone, and an emergency response center that call for medical help during emergency. These devices are mainly used to ensure safety and security to user who are living or travelling alone.

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Factors affecting market growth:

  • Increasing aging population across the globe. (+)
  • Growing demand for medical alert systems globally. (+)
  • Technological developments in healthcare wearable’s. (+)
  • Increasing penetration of smartphones in healthcare sector. (+)
  • Introduction of easy adaptability of PERS devices. (+)
  • Rising awareness towards personal healthcare and monitoring devices. (+)
  • Advancement in communication and other connectivity technologies. (+)
  • High cost associated with the PERS devices. (-)
  • Lack of awareness about PERS devices. (-)

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Market Segmentation

The Global Personal emergency response systems Market is geographically segmented into

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

North America holds the largest market share Global Personal emergency response systems due to increasing aging population, technological advancement, and favorable government policies. Asia-Pacific is the fast growing region due to rising expenditure on healthcare, growing aging population, increasing healthcare expenditures in the developing countries like India and China which is projected to witness high growth rate for Personal emergency response systems market during the forecast period. 

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Key players:

Leading companies for Global Personal emergency response systems market are Alert One Services LLC and Medical Guardian LLC., ADT Corporation, Life Guardian Technologies LLC, Koninklijke Philips N.V., Tunstall Healthcare Group Ltd., Bay Alarm Medical Company, and Philips Electronics N.V. 

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