Medical alert systems are an alarm systems designed for a medical emergency. It helps in urgent medical attention in a hazardous situation of a medical professionals. The system contains the transmitter which can be activated manually or automatic in the emergency. When the medical alert system is activated it transfers the signal to an alert monitoring companies central control room or the other emergency agency or the relative of the user or may be to the nearer hospital. These medical alert system allows person to contact emergency services in the event of a fall or other emergency. Medical alert system mostly used by an elder person, prolonged illnesses patient, or a disabled person who leaves alone or choose to stay home rather than nursing facilities. Moreover there are number of other uses of medical alert system such as in accidents, fire or in natural calamities. Medical alert system sometime prevent mishaps, if it cannot prevent these devices reduce the impact of a mishaps or injury by ensuring availability of timely medical assistance. Medical alert systems are easily accessible and affordable that increases the medical safety and security of the patient. It not only helps in the emergency but also helps patient for routine checkups, regular diagnosis, and also with medicine time reminder. Some medical alert systems come with the vital signs monitoring system to track patient health.
Global medical alert systems market has been segmented by components, by product types, by end users and by geography. On the basis of components, the medical alert system is segmented into Global System for Mobile Communications (GSM), microphone, fall detection sensor, Wireless Transmitter, and Global Positioning System (GPS). GSM have high demand because of its reliability and portability. In terms of product type, medical alert system market is categorized into mobile, standalone and landline. Mobile type of alert systems tend to have high demand as awareness about personal health is increasing. The end user for the medical alert system includes hospitals, nursing facilities, home care setting, long term care centers, and senior living facilities. Hospitals are further sub- segmented into 500 plus beds hospitals, 250 to 499 beds hospitals, and less than 250 beds hospitals. Home care setting are more preferred by a senior persons to stay in their own homes.
Geographically, the medical alert systems market has been classified into five regional markets, namely, North America (the United States and Canada), Europe (Germany, France, United Kingdom, etc.) and Asia-Pacific (Australia, China, Japan, India, etc.), Latin America (Mexico, Brazil etc.) and Middle East and Africa (Saudi Arabia, UAE, South Africa etc.). North America was observed as the largest market, in terms of revenue for medical alert systems, because people in North America are more aware about personal health and prefer to live independent. North America was followed by Europe and is expected to register higher growth. Emerging markets such as Asia Pacific, Latin America and the Middle East and Africa are expected to record robust growth during the forecast period 2016-2024 due to, aging population and growing healthcare industry as result would lead to increased patient population in these countries. China, Brazil and India are expected to drive strong growth among the emerging countries, owing to increasing investments by government bodies in order to enhance healthcare facilities.
In addition, there are number of factors that would affect the growth of medical alert systems market such as technological advancement, awareness about personal health and safety in developing countries, and increase in the number of elder patients. The market is also witnessing certain restraints, such as stiff competition among existing medical alert system manufacturers and subsequent upswing in bulk purchasing through INHs and GPOs (Group Purchasing Organizations).
The major players operating in this market include Medical Guardian LLC, LifeFone, Bay Alarm Medical, ADT LLC dba ADT Security Services, Philips N.V., AlertOne Services LLC, Valued Relationships, Inc., Galaxy Medical Alert Systems, and Guardian Alarm.
The report offers a comprehensive evaluation of the market. It does so via in-depth insights, understanding market evolution by tracking historical developments, and analyzing the present scenario and future projections based on optimistic and likely scenarios. Each research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology developments, types, applications, and the competitive landscape.
The study is a source of reliable data on:
- Key market segments and sub-segments
- Evolving market trends and dynamics
- Changing supply and demand scenarios
- Quantifying market opportunities through market sizing and market forecasting
- Tracking current trends/opportunities/challenges
- Competitive insights
- Opportunity mapping in terms of technological breakthroughs
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, Luxembourg)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia and New Zealand)
- Middle East and Africa (GCC, Southern Africa, North Africa)
TMR estimates the market size of various sectors using a combination of available data on the number and revenue of companies within each sub-sector and tiers of companies. The basic components used to determine market size and forecast for a specific product area are not only limited to supply-side data, but are also related to demand, industry trends, and the economic outlook. All the above data points are utilized to generate a statistical model targeting the sector marketplace. More than 300 TMR analysts across the world integrate these elements into a framework to determine the subsector market size for a base year and then forecast growth within each market.
TMR regularly interviews technology and business professionals as an ongoing effort to track the latest developments within each sector. These continuous surveys are stratified by company size and industry segment and weighted to reflect the global market place. All data are collected on an ongoing effort through a structured questionnaire rolled over the web or conducted via telephones. This provides the TMR team opportunities to request for detailed question sets, complex skip patterns, and real-time calculations, which assists respondents in answering questions involving numbers and percentages. Respondents, who are interviewed as experts, are screened and qualified based on certain criteria in addition to their decision-making authority and the scope of activity within their organizations.
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.