Global Personal Emergency Response Systems (PERS) Market Research Report 2020: COVID-19 Outbreak Impact Analysis
Brand Essence Market Research has developed a concise study on the Personal Emergency Response Systems (PERS) market to depict valuable insights related to significant market trends driving the industry. The report features analysis based on key opportunities and challenges confronted by market leaders while highlighting their competitive setting and corporate strategies for the estimated timeline.
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Global Personal Emergency Response Systems (PERS) Market is valued at USD 6245.1 Million in 2018 and expected to reach USD 9452.5 Million by 2026 with a CAGR of 6.1% over the forecast period. Increasing geriatric population and rising demand for home healthcare devices are anticipated to drive the growth of Global Personal Emergency Response Systems (PERS) Market.
Personal emergency response systems are the devices which let the user to call for help in an emergency by pushing a button. It has three components: a small radio transmitter, a console connected to the user’s telephone and an emergency response center that monitors calls. In the event of an injury, disaster, burglary, or other emergency, the button on the device is pressed and the response center dispatch is alerted to send help immediately. That help may come in the form of a family member, friend, neighbour or emergency personnel depending on the emergency situation.
It is very beneficial for seniors who have a history of falling or have been identified as having a high fall risk, older individuals who live alone and people who have mobility issues. Some PERS products offer automatic fall detection, which uses technology to detect falls, and triggers a call for help, even when the wearer is unable to press their medical alert button. For example; every 11 seconds, an older adult is treated in an emergency room (ER) for some type of injury related to a fall, according to the National Council on Aging (NCOA).
According to CDC; there are approximately 645 fall-related emergency room visits for every 10,000 elderly persons. The next most common reason for seeking immediate medical treatment for individuals in this age range is motor vehicle traffic, which includes injuries sustained in an automobile accident. Due to this higher likelihood of falling, it can be extremely beneficial to have a personal emergency response system if an older person finds him or herself in this type of situation and in the need of medical assistance. Increasing advancements in the field of mobile technology, these personal response systems are no longer for use just inside the home. Depending on the system and its monitoring options, user can obtain assistance even while on the go which provides a greater level of independence and assurance during vacations, while running errands, or otherwise outside the primary residence.
Global personal emergency response systems (PERS) market report is segmented on the basis of type, end-user and region & country level. Based upon type, global personal emergency response systems market is classified into standalone PERS, landline PERS, mobile PERS and others. Based upon end-user, the market is divided into home-based users, assisted living facilities, nursing homes and hospitals.
The regions covered in this Personal Emergency Response Systems (PERS) Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, the market of Personal Emergency Response Systems (PERS) is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.
Key Players for Global Personal Emergency Response Systems (PERS) Market Report: Some major key players for Global Personal Emergency Response Systems (PERS) Market are Koninklijke Philips N.V., Medical Guardian LLC, AlertOne Services LLC, Bay Alarm Medical, Tunstall, GreatCall, Rescue Alert, LogicMark, ADT Security Services, VRI, Inc., Life Alert Emergency Response, Inc., Nortek Security and Control and others.
Increasing Geriatric Population and Increasing Prevalence of Chronic Diseases Drive the Market Growth: The major factor driving the growth of global personal emergency response systems (PERS) market is increasing geriatric population coupled with the increasing prevalence of chronic diseases. For example; The United Nations reported that the worldâ€™s population of elderly who are 60 years old will double and those who are 80 years old will triple during the next 30 years at the same time as other age groups will decrease in number (Department of Economic and Social Affairs Population Division, 2017). The most common of the chronic diseases are cardiovascular disease, diabetes, cancer and chronic respiratory disease, Together, they account for 41 million deaths in the world every year, and this number is increasing (World Health Organization).
The Centers for Disease Control and Prevention (CDC) estimated that about 50% of all adults in the US have one or two chronic diseases and that 25% have two or more (Centers for Disease Control and Prevention, 2017). In Europe, about 50 million adults have multiple chronic diseases, In Sweden, 44% of the population have one chronic disease and 25% two or more (The Swedish Agency for Health and Care Services Analysis, 2014).
Apart from the societal challenge with the rising number of elderly, and an increased number having chronic disease, there are also challenges related to the projected shortage of health care professionals. One way to meet these challenges is to make use of new information and communication technologies and to offer easily accessible digital health solutions for older adults with chronic disease as a support in their self-care. So the personal emergency response systems (PERS) can be used easily to call for help in an emergency.
In addition, improving healthcare infrastructure, increasing adoption of home healthcare devices and growing use of smart phones are also anticipated to boost the market growth within the forecast period. Furthermore, growing awareness regarding the benefits of personal emergency response systems and technological advancements in health industry are also supplementing the market growth. However, high cost of personal emergency response systems may hamper the market growth. In spite of that, increasing advancements in this field can provide various opportunities for the further growth of the market.
North America is Expected to Dominate the Global Personal Emergency Response Systems (PERS) Market: The global personal emergency response systems (PERS) market is segmented into North America, Europe, Asia-Pacific Latin America and Middle East & Africa. North America is expected to dominate the global personal emergency response systems (PERS) market within the forecast period attributed to the highly developed healthcare infrastructure in this region. In addition, increasing healthcare expenditure and presence of leading players in this region are also fostering the market growth. Furthermore, high investment on research & development and increasing prevalence of chronic diseases are also anticipated to supplement the demand for personal emergency response systems in this region within the forecast period. Europe is projected to capture the second largest share of global personal emergency response systems (PERS) market owing to the increasing geriatric population in this region.
Asia Pacific is anticipated to witness a lucrative growth with highest CAGR in global personal emergency response systems (PERS) market owing to the increasing research and development and imroving healthcare infrastructure in this region. In addition, the increasing geriatric population and growing use of home healthcare devices are also expected to boost the demand for personal emergency response systems in this region. For example; AS per The United Nations Population Fund, UNFPA; the number of older people in the Asia-Pacific region is rising at an unprecedented rate and it is at the forefront of the global phenomenon of population ageing. By 2050, one in four people in Asia and the Pacific will be over 60 years old. The population of older persons (aged over 60) in the region will triple between 2010 and 2050, reaching close to 1.3 billion people.
Global Personal Emergency Response Systems (PERS) Market Segmentation:-
â€¢Assisted Living Facilities
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Our Market Research Solution Provides You Answer to Below Mentioned Question:
â€¢ Which are the driving factors responsible for the growth of market?
â€¢ Which are the roadblock factors of this market?
â€¢ What are the new opportunities, by which market will grow in coming years?
â€¢ What are the trends of this market?
â€¢ Which are main factors responsible for new product launch?
â€¢ How big is the global & regional market in terms of revenue, sales and production?
â€¢ How far will the market grow in forecast period in terms of revenue, sales and production?
â€¢ Which region is dominating the global market and what are the market shares of each region in the overall market in 2017?
â€¢ How will each segment grow over the forecast period and how much revenue will these segment account for in 2026?
â€¢ Which region has more opportunities?
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The Essential Content Covered in the Global Personal Emergency Response Systems (PERS) Market Report:
* Top Key Company Profiles.
* Main Business and Rival Information
* SWOT Analysis and PESTEL Analysis
* Production, Sales, Revenue, Price and Gross Margin
* Market Share and Size
The report provides a 6-year forecast (2020-2026) assessed based on how the Personal Emergency Response Systems (PERS) market is predicted to grow in major regions like USA, Europe, Japan, China, India, Southeast Asia, South America, South Africa, Others.
Strategic Points Covered in TOC:
Chapter 1: Introduction, market driving force product scope, market risk, market overview, and market opportunities of the global Personal Emergency Response Systems (PERS) market.
Chapter 2: Evaluating the leading manufacturers of the global Personal Emergency Response Systems (PERS) market which consists of its revenue, sales, and price of the products.
Chapter 3: the competitive nature among key manufacturers, with market share, revenue, and sales.
Chapter 4: Presenting global Personal Emergency Response Systems (PERS) market by regions, market share and revenue and sales for the projected period.
Chapters 5, 6, 7, 8 and 9: To evaluate the market by segments, by countries and by manufacturers with revenue share and sales by key countries in these various regions.
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