Market Highlights
Global Personal Emergency Response Systems (PERS) Market spans across North America, Europe, Asia-Pacific, the rest of the world.
Personal emergency response systems (PERS) are devices that are let elderly or disabled individuals call for immediate assistance in case of emergencies. These devices are designed as wristbands or neck pendants and are equipped with transmitters to alert the emergency helplines in case any help is required. When alerted, the transmitter sends the signal to an emergency operator that responds by promptly sending help to an individual’s location. Based on the severity of the situation, the operator decides whether to send an ambulance to the location or call the designated guardian. Increasing geriatric population along with policies to increase the quality of home healthcare to support independent living has led to innovation in healthcare services. Moreover, with the proliferation of IoT and similar connected technologies, the personal emergency response systems market has witnessed remarkable growth. However, risks concerned with data security of individuals is a major factor limiting the adoption of PERS.
In North America, the US accounted for the largest market share in 2018. The growth in North America can be attributed to factors such as rise in geriatric population and healthcare reforms in the region. The region also witnesses a high concentration of key market players such as VRI, Inc., Life Alert Emergency Response, Inc., Medical Guardian LLC, and AlertOne Services LLC.
Europe includes Germany, France, the UK, and other adjoining countries; and currently holds the second-largest market for personal emergency response systems. The need to reduce the costs associated with diagnosis and patient supervision and improve the patient health management, especially for the aging population, has led to the adoption of real-time health monitoring devices in this region. Reimbursement policies and government regulations play a key role in the adoption of home-based facilities, which further drives the demand for personal emergency response systems in healthcare.
The Asia-Pacific region is relatively slow in implementing personal emergency response systems and its related applications in the healthcare sector. The healthcare industry in the region is growing at a rapid pace, owing to the growing geriatric population and the number of differently abled individuals. Moreover, the region is witnessing the development of hubs for clinical trials and diagnostic methods to curb the prevalence of chronic diseases and therefore are looking to reduce expenses on consultation and other healthcare expenditures. The region has also received several funding and investments from foreign investors to boost the manufacturing and adoption of PERS across China, Japan, and Taiwan, among other countries.
The Middle East & Africa includes the UAE, Saudi Arabia, Israel, Egypt, South Africa, and others. The mobile health deployments in these countries are supporting healthcare practitioners and workers to collect and transmit data regarding patient diseases through mobile phones, smart wearable devices, and PDAs. The Middle East & Africa is one of the largest contributors in the global personal emergency response systems market as a greater number of healthcare projects have been launched for these countries in recent years.
South America consists of countries such as Brazil, Columbia, Argentina, and adjoining countries.
These countries are developing new infrastructure and adopting new technologies for increasing healthcare infrastructure. The key factors driving the PERS market in the region are the high per capita disposable income and improving medical infrastructure in the region that propels the growth of medical devices
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Segmentation:
Global Personal Emergency Response Systems (PERS) Market has been segmented based on type, end-user, and region. Based on type, the global market has been segmented into landline personal emergency response systems, mobile personal emergency response systems, and standalone personal emergency response systems. Among these, the mobile personal emergency response system segment dominated the global personal emergency response system market in 2019; it is estimated to maintain its dominance throughout the forecast period. On the other hand, the standalone personal emergency response system is expected to register the highest CAGR of 7.7% during the study period, 2020–2025. The mobile personal emergency response systems segment has been further segmented into cellular emergency response systems, wireless emergency response systems, and GPS-based emergency response systems. Whereas, the standalone personal emergency response system has been segmented into transmitters, standalone voice communicator, wandering system, and R-cube/V-cube monitoring system. Based on end user, the global market has been segmented into home-based users, senior living facilities, and assisted living facilities. Among these, the home-based user segment dominated the market in 2018; it is expected to maintain its dominance throughout the forecast period.
Key Players
The Key Players of the Global Personal Emergency Response Systems (PERS) Market are ALERTONE SERVICES LLC (US), Cisco Systems, Inc. (US), Nortek Security and Control (US), VRI (US), Honeywell International Inc. (US), Tunstall (UK), Robert Bosch GmbH (Germany), GreatCall Inc. (US), Koninklijke Philips NV (Netherlands), and ADT (US). These companies are continuously expanding their geographic reach by partnering with local and regional vendors as well as focusing on developing advanced personal emergency response systems that complement the changing lifestyles of individuals.
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By Type (Mobile Personal Emergency Response System (Cellular Emergency Response System, Wireless Emergency Response System, GPS-based Emergency Response System), Landline Personal Emergency Response System, Standalone Personal Emergency Response System (Transmitters, R-cube/V-cube Monitoring System, Wandering System)), End-User (Home-based Users, Senior Living Facilities, Assisted Living Facilities), Region (North America, Europe, Asia-Pacific, Middle East & Africa, South America) - Forecast till 2027
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