The medical alert systems market is expected to grow by 7.5% during the period 2020-2025
Medical Alert Systems Market is Expected to Grow at a CAGR of 7.5% During 2020-2025, Stratview Research Reports
RAIPUR, India, February 16, 2022 /PRNewswire/ — Stratview Research, a Leader market research companylaunched a report on Medical Alert Systems Market which provides in-depth analysis of market dynamics, current and emerging trends, industry forecasts and competitive landscape.
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How is the report useful?
The report has great utility for key decision makers and strategists in terms of accurate market insights, future growth opportunities, and key success factors.
Most importantly, the report analyzes the possible impact of COVID-19 on the market dynamics, which provides cushion against the uncertain business environment and helps streamline resources and investment decisions fruitfully.
What are the main market drivers?
According to the report, the Medical Alert Systems Market is driven by a host of factors, some of which are noted below:
The increase in the population of elderly dependents, along with the availability of advanced medical facilities, is increasing the awareness of health care.
The adoption of Personal Emergency Response Systems (PERS) and its increased use due to the use of artificial intelligence (AI) in PERS devices.
The report also includes growth rate estimates based on the intensity of drivers and restraints and provides users with several graphical illustrations of key information.
Medical Alert Systems Market Segmentation:
Stratview Research has segmented the market in the following 4 ways that meet the market data needs of multiple stakeholders across the industry value chain.
System type (Personal Emergency Response Systems (PERS), Nurse Call Systems (NCS), Ambulatory Automatic Alert Systems, In-Flight Automated Theft Alert System and Smart Belt)
Connection Type (Wired, Wireless)
End user type (home users, residences for the elderly/care centers for the elderly, service residences and others)
Region (North America, Europe, Asia Pacificand rest of the world)
View report scope and table of contents:
Medical Alert Systems Market Overview
Market trends by system type
Based on system type, the market is segmented into Personal Emergency Response Systems (PERS), Nurse Call Systems (NCS), Ambulatory Automatic Alert Systems, Automated Theft Alert System and Smart Belt .
The personal emergency response systems (PERS) segment held the largest market share in 2019 and is expected to remain dominant during the forecast period. Rising population of elderly dependents, along with availability of advanced medical facilities, rising healthcare awareness and adoption of PERS are the major growth drivers for the segment.
The use of artificial intelligence (AI) in PERS devices has shown increased demand for PERS across the world.
Market trends by Final user Type
Based on end-user type, the medical alert system market is segmented into home users, senior living/elder care facilities, assisted living facilities, and others.
Home user segment dominates the market, because medical alert systems ensure the independence of the older adult at home, and because of this factor, they are mainly used by the elderly with diabetes, chronic obstructive pulmonary disease (COPD) and diseases cardiac. The introduction of smart medical alert systems with monitoring functions further contributes to the growth of the segment.
Which region offers the best opportunity and growth?
At the regional level, North America is estimated to be the largest market during the forecast period, with the United States, Canadaand Mexico being the leading countries with lucrative growth opportunities.
The growth of the market is mainly driven by increasing healthcare expenditure, increase in government initiatives for elderly healthcare in the region and the inclination of elderly people towards independent living.
Impact of COVID-19 on Medical Alert Systems Market
COVID-19 has brought an instant halt to many industries around the world. Lockdown norms in several countries quickly affected the global economy by affecting supply chain, production and market demand. The direct and indirect impacts of the pandemic have been integrated into this report.
To learn more about the impact of covid-19, get a free sample report here:
Who are the best market players?
After in-depth analysis of the market, the experts have listed down few key players and discussed the company profiles of the players below –
What deliverables will you get in this report?
In-depth analysis of the Medical Alert Systems market.
Detailed market segmentation.
Analysis of the competitive landscape.
Historical, current and future market size analysis.
Industry trends, technologies and advancements.
Growth and operating strategies adopted by key players.
Potential segments/regions offering promising growth.
Geographical presence of the main players.
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SOURCE Stratview Research