North America to dominate the Personal Emergency Response Systems Market through 2026
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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