April 18, 2024

Medical Alert Systems Market Poised to Exceed $20.92 Bn By 2032

The medical alert systems market size is poised to grow by $ 20.92  billion by 2032 from $ 8.25 billion in 2023, exhibiting a CAGR of 10.90% during the forecast period 2023-2032. 

Key Takeaways

  • North America contributed more than 39% of revenue share in 2022.
  • Asia-Pacific is estimated to expand the fastest CAGR between 2023 and 2032.
  • By type, the personal emergency response systems (PERS) segment has held the largest market share of 38% in 2022.
  • By type, the smart belt segment is anticipated to grow at a remarkable CAGR of 11.5% between 2023 and 2032.
  • By technology, the unmonitored medical alert systems segment generated over 35% of revenue share in 2022.
  • By technology, the IP-based systems segment is expected to expand at the fastest CAGR over the projected period.
  • By application, the home-based users segment generated over 31% of revenue share in 2022.
  • By application, the hospitals and clinics segment is expected to expand at the fastest CAGR over the projected period.

The Medical Alert Systems Market is a dynamic and evolving sector dedicated to providing timely assistance to individuals facing medical emergencies. These systems typically include wearable devices or home-based units equipped with alert buttons, enabling users to quickly summon help in case of accidents or health issues. The market has witnessed significant growth as the aging population increases, creating a greater demand for reliable and efficient emergency response solutions.

Medical Alert Systems Market Size 2023 To 2032

Growth Factors

The market’s growth is propelled by the rising aging population, increasing prevalence of chronic diseases, and a growing awareness of the importance of quick medical assistance. Advancements in technology, such as GPS tracking and fall detection capabilities, contribute to the appeal and effectiveness of medical alert systems, driving further adoption.

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Region:

The market for Medical Alert Systems has a global presence, with North America holding a substantial share due to a well-established healthcare infrastructure and a large aging population. Europe follows closely, with Asia-Pacific showing considerable potential for growth as healthcare awareness and infrastructure improve.

Medical Alert Systems Market Scope

Report Coverage Details
Growth Rate from 2023 to 2032 CAGR of 10.90%
Market Size in 2023 USD 8.25 Billion
Market Size by 2032 USD 20.92 Billion
Largest Market North America
Base Year 2022
Forecast Period 2023 to 2032
Segments Covered By Type, By Technology, and By Application
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Drivers:

Key drivers for the market include the increasing geriatric population, a growing focus on independent living among seniors, and the continuous technological advancements in healthcare. Additionally, strategic partnerships between medical alert system providers and healthcare institutions contribute to market expansion.

Opportunities:

Opportunities in the Medical Alert Systems Market lie in the untapped markets of developing regions, where the awareness of such systems is still emerging. The integration of artificial intelligence and smart home technologies presents another avenue for innovation, offering enhanced features and personalized assistance.

Challenges:

Despite the positive outlook, the market faces challenges such as affordability issues for some segments of the population, concerns about privacy and data security, and the need for continuous education to overcome cultural barriers and promote the adoption of medical alert systems.

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Recent Developments

  • In February 2021, Connect America collaborated with Urban Health Plan (US), a US-based health center program, to extend remote patient monitoring (RPM) services to residents in underserved communities across the Bronx, Queens, and Manhattan.
  • In October 2020, MobileHelp introduced Micro, a comprehensive mobile medical alert device that combines wearable comfort with a compact and lightweight design while retaining robust technological features. The product includes MobileHelp’s patented automatic fall detection and advanced location tracking technology.

Medical Alert Systems Market Players

  • Philips Lifeline
  • Medical Guardian
  • ADT
  • Life Alert
  • Bay Alarm Medical
  • MobileHelp
  • GreatCall (acquired by Best Buy)
  • Tunstall Healthcare
  • Alert1
  • Connect America
  • LifeFone
  • Rescue Alert
  • Guardian Medical Monitoring
  • Alert Sentry
  • Valued Relationships Inc. (VRI)

Segments Covered in the Report

By Type

  • Personal Emergency Response Systems (PERS)
  • Nurse Calling Systems (NCS)
  • Smart Belt

By Technology

  • Two-way Voice Systems
  • Unmonitored Medical Alert Systems
  • Medical Alert Alarm (Button) System
  • IP-based Systems

By Application

  • Home-Based Users
  • Senior Living Facilities/Senior Care Centers
  • Assisted Living Facilities
  • Hospitals and Clinics
  • Others

By Geography

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

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on Medical Alert Systems Market 

5.1. COVID-19 Landscape: Medical Alert Systems Industry Impact

5.2. COVID 19 – Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global Medical Alert Systems Market, By Type

8.1. Medical Alert Systems Market Revenue and Volume, by Type, 2023-2032

8.1.1. Personal Emergency Response Systems (PERS)

8.1.1.1. Market Revenue and Forecast (2020-2032)

8.1.2. Nurse Calling Systems (NCS)

8.1.2.1. Market Revenue and Forecast (2020-2032)

8.1.3. Smart Belt

8.1.3.1. Market Revenue and Forecast (2020-2032)

Chapter 9. Global Medical Alert Systems Market, By Technology

9.1. Medical Alert Systems Market Revenue and Volume, by Technology, 2023-2032

9.1.1. Two-way Voice Systems

9.1.1.1. Market Revenue and Forecast (2020-2032)

9.1.2. Unmonitored Medical Alert Systems

9.1.2.1. Market Revenue and Forecast (2020-2032)

9.1.3. Medical Alert Alarm (Button) System

9.1.3.1. Market Revenue and Forecast (2020-2032)

9.1.4. IP-based Systems

9.1.4.1. Market Revenue and Forecast (2020-2032)

Chapter 10. Global Medical Alert Systems Market, By Application 

10.1. Medical Alert Systems Market Revenue and Volume, by Application, 2023-2032

10.1.1. Home-Based Users

10.1.1.1. Market Revenue and Forecast (2020-2032)

10.1.2. Senior Living Facilities/Senior Care Centers

10.1.2.1. Market Revenue and Forecast (2020-2032)

10.1.3. Assisted Living Facilities

10.1.3.1. Market Revenue and Forecast (2020-2032)

10.1.4. Hospitals and Clinics

10.1.4.1. Market Revenue and Forecast (2020-2032)

10.1.5. Others

10.1.5.1. Market Revenue and Forecast (2020-2032)

Chapter 11. Global Medical Alert Systems Market, Regional Estimates and Trend Forecast

11.1. North America

11.1.1. Market Revenue and Volume Forecast, by January (2020-2032)

11.1.2. Market Revenue and Volume Forecast, by February (2020-2032)

11.1.3. Market Revenue and Volume Forecast, by March (2020-2032)

11.1.4. U.S.

11.1.4.1. Market Revenue and Volume Forecast, by January (2020-2032)

11.1.4.2. Market Revenue and Volume Forecast, by February (2020-2032)

11.1.4.3. Market Revenue and Volume Forecast, by March (2020-2032)

11.1.5. Rest of North America

11.1.5.1. Market Revenue and Volume Forecast, by January (2020-2032)

11.1.5.2. Market Revenue and Volume Forecast, by February (2020-2032)

11.1.5.3. Market Revenue and Volume Forecast, by March (2020-2032)

11.2. Europe

11.2.1. Market Revenue and Volume Forecast, by January (2020-2032)

11.2.2. Market Revenue and Volume Forecast, by February (2020-2032)

11.2.3. Market Revenue and Volume Forecast, by March (2020-2032)

11.2.4. UK

11.2.4.1. Market Revenue and Volume Forecast, by January (2020-2032)

11.2.4.2. Market Revenue and Volume Forecast, by February (2020-2032)

11.2.4.3. Market Revenue and Volume Forecast, by March (2020-2032)

11.2.5. Germany

11.2.5.1. Market Revenue and Volume Forecast, by January (2020-2032)

11.2.5.2. Market Revenue and Volume Forecast, by February (2020-2032)

11.2.5.3. Market Revenue and Volume Forecast, by March (2020-2032)

11.2.6. France

11.2.6.1. Market Revenue and Volume Forecast, by January (2020-2032)

11.2.6.2. Market Revenue and Volume Forecast, by February (2020-2032)

11.2.6.3. Market Revenue and Volume Forecast, by March (2020-2032)

11.2.7. Rest of Europe

11.2.7.1. Market Revenue and Volume Forecast, by January (2020-2032)

11.2.7.2. Market Revenue and Volume Forecast, by February (2020-2032)

11.2.7.3. Market Revenue and Volume Forecast, by March (2020-2032)

11.3. APAC

11.3.1. Market Revenue and Volume Forecast, by January (2020-2032)

11.3.2. Market Revenue and Volume Forecast, by February (2020-2032)

11.3.3. Market Revenue and Volume Forecast, by March (2020-2032)

11.3.4. India

11.3.4.1. Market Revenue and Volume Forecast, by January (2020-2032)

11.3.4.2. Market Revenue and Volume Forecast, by February (2020-2032)

11.3.4.3. Market Revenue and Volume Forecast, by March (2020-2032)

11.3.5. China

11.3.5.1. Market Revenue and Volume Forecast, by January (2020-2032)

11.3.5.2. Market Revenue and Volume Forecast, by February (2020-2032)

11.3.5.3. Market Revenue and Volume Forecast, by March (2020-2032)

11.3.6. Japan

11.3.6.1. Market Revenue and Volume Forecast, by January (2020-2032)

11.3.6.2. Market Revenue and Volume Forecast, by February (2020-2032)

11.3.6.3. Market Revenue and Volume Forecast, by March (2020-2032)

11.3.7. Rest of APAC

11.3.7.1. Market Revenue and Volume Forecast, by January (2020-2032)

11.3.7.2. Market Revenue and Volume Forecast, by February (2020-2032)

11.3.7.3. Market Revenue and Volume Forecast, by March (2020-2032)

11.4. MEA

11.4.1. Market Revenue and Volume Forecast, by January (2020-2032)

11.4.2. Market Revenue and Volume Forecast, by February (2020-2032)

11.4.3. Market Revenue and Volume Forecast, by March (2020-2032)

11.4.4. GCC

11.4.4.1. Market Revenue and Volume Forecast, by January (2020-2032)

11.4.4.2. Market Revenue and Volume Forecast, by February (2020-2032)

11.4.4.3. Market Revenue and Volume Forecast, by March (2020-2032)

11.4.5. North Africa

11.4.5.1. Market Revenue and Volume Forecast, by January (2020-2032)

11.4.5.2. Market Revenue and Volume Forecast, by February (2020-2032)

11.4.5.3. Market Revenue and Volume Forecast, by March (2020-2032)

11.4.6. South Africa

11.4.6.1. Market Revenue and Volume Forecast, by January (2020-2032)

11.4.6.2. Market Revenue and Volume Forecast, by February (2020-2032)

11.4.6.3. Market Revenue and Volume Forecast, by March (2020-2032)

11.4.7. Rest of MEA

11.4.7.1. Market Revenue and Volume Forecast, by January (2020-2032)

11.4.7.2. Market Revenue and Volume Forecast, by February (2020-2032)

11.4.7.3. Market Revenue and Volume Forecast, by March (2020-2032)

11.5. Latin America

11.5.1. Market Revenue and Volume Forecast, by January (2020-2032)

11.5.2. Market Revenue and Volume Forecast, by February (2020-2032)

11.5.3. Market Revenue and Volume Forecast, by March (2020-2032)

11.5.4. Brazil

11.5.4.1. Market Revenue and Volume Forecast, by January (2020-2032)

11.5.4.2. Market Revenue and Volume Forecast, by February (2020-2032)

11.5.4.3. Market Revenue and Volume Forecast, by March (2020-2032)

11.5.5. Rest of LATAM

11.5.5.1. Market Revenue and Volume Forecast, by January (2020-2032)

11.5.5.2. Market Revenue and Volume Forecast, by February (2020-2032)

11.5.5.3. Market Revenue and Volume Forecast, by March (2020-2032)

Chapter 12. Company Profiles

12.1. Philips Lifeline

12.1.1. Company Overview

12.1.2. Product Offerings

12.1.3. Financial Performance

12.1.4. Recent Initiatives

12.2. Medical Guardian

12.2.1. Company Overview

12.2.2. Product Offerings

12.2.3. Financial Performance

12.2.4. Recent Initiatives

12.3. ADT

12.3.1. Company Overview

12.3.2. Product Offerings

12.3.3. Financial Performance

12.3.4. Recent Initiatives

12.4. Life Alert

12.4.1. Company Overview

12.4.2. Product Offerings

12.4.3. Financial Performance

12.4.4. Recent Initiatives

12.5. Bay Alarm Medical

12.5.1. Company Overview

12.5.2. Product Offerings

12.5.3. Financial Performance

12.5.4. Recent Initiatives

12.6. MobileHelp

12.6.1. Company Overview

12.6.2. Product Offerings

12.6.3. Financial Performance

12.6.4. Recent Initiatives

12.7. GreatCall (acquired by Best Buy)

12.7.1. Company Overview

12.7.2. Product Offerings

12.7.3. Financial Performance

12.7.4. Recent Initiatives

12.8. Tunstall Healthcare

12.8.1. Company Overview

12.8.2. Product Offerings

12.8.3. Financial Performance

12.8.4. Recent Initiatives

12.9. Alert1

12.9.1. Company Overview

12.9.2. Product Offerings

12.9.3. Financial Performance

12.9.4. Recent Initiatives

12.10. Connect America

12.10.1. Company Overview

12.10.2. Product Offerings

12.10.3. Financial Performance

12.10.4. Recent Initiatives

Chapter 13. Research Methodology

13.1. Primary Research

13.2. Secondary Research

13.3. Assumptions

Chapter 14. Appendix

14.1. About Us

14.2. Glossary of Terms

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