Fall Detection System Market

Global Market Study on Fall Detection Systems: Increase in geriatric population to drive market expansion

Fall Detection System Market Segmentation By Automatic Fall and Manual Fall Detection Systems Product with GPS-based, Mobile Phone-based, Sensor-based Technology

  • June-2022
  • PMRREP8878
  • 157 Pages
  • Healthcare
  • PPT, PDF, WORD, EXCEL

Fall Detection Systems Market Outlook (2022 - 2029)

The Global Fall Detection Systems Market value is projected to exceed US$ 607.9 million by the year 2029 at a steady CAGR of 4.4%. The increasing incidence of chronic conditions such as Alzheimer's and Dementia has increased the danger of falling, particularly among the elderly. The fall detection system is specially designed for the elderly population. If a fall detection system detects an accidental fall, it will notify emergency services. The system is made up of two key parts: a wearable gadget and a smartphones. When the wearable gadget detects a fall, it sends an alarm to the mobile phone, which subsequently informs the user's emergency contacts. Some of the negative repercussions of a fall can be mitigated using fall detection systems.

Fall Detection Systems Market Size (2022)

US$ 448.5 Mn

Projected Market Value (2029)

US$ 607.9 Mn

Global Market Growth Rate (2022-2029)

4.4% CAGR

Share in parent market

6.3%

Find Out More about the Report Coverage

Companies

  • Koninklijke Philips N.V.
  • Tunstall
  • ADT Inc.
  • Medical Guardian LLC.
  • BioTelemetry, Inc.
  • Bay Alarm Company
  • MobileHelp
  • MariCare Oy

Fall Detection Systems Market Demand Analysis (2014-2021) v/s Market Outlook (2022 – 2029)

The fall detection system market is expected to grow significantly over the forecast period. This is mostly due to reasons such as an expanding geriatric population and consumers’ uptake of wearable technologies. Apart from that, increased smartphone usage is projected to fuel the fall detection system market. Furthermore, the rising consumers’ preference for personal healthcare systems can also boost the global fall detection system market. Furthermore, technological developments and the integration of AI technology are expected to fuel market growth in the coming years.

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What is expected to keep the Hopes High for Fall Detection Systems Market?

  • “Introduction of Patient-Oriented Fall Detection Systems”

Most aged people who fall, usually suffer from a variety of medical issues that occur sequentially. As a result, it is important to monitor the patient's activities as well as physiological data. Linking physiological sensors with fall detection systems provides a better knowledge of patient activities and medical issues, allowing for more thorough monitoring. The introduction of patient-oriented fall detection systems has paved the way for proper remote monitoring to assess patients' long-term well-being. The introduction of patient-oriented fall detection systems has increased the demand for fall detection systems and is one of the major factors contributing to the market growth.

fall-detection-system-market

  • “Increasing Penetration of Smartphones”

The increasing adoption of smartphones and the other mobile devices has created an ideal setting for the growth of fall detection systems. Numerous software apps can be installed on smartphones, allowing them to operate as low-cost fall detection systems. Smartphones provide a realistic and simple method of implementing fall detection systems. Since smartphone-based fall detection systems have become popular among end-users, researchers are working to overcome tiny flaws that impair some system accuracy. The increasing penetration of smartphones and the integration of fall detection systems into software applications are likely to provide huge growth prospects for the fall detection systems market.

  • “Technological Advancements”

Technological advancements are revolutionizing the market for fall detection systems. Manufacturers of fall detection systems are integrating cutting-edge technologies into their devices, such as GPS and mobile communication, to provide better products. Furthermore, advancements in machine learning and artificial intelligence have expanded significantly in recent years, opening up a multitude of opportunities for fall detection system manufacturers to include products based on these technologies in their product range. Experts are working to improve artificial intelligence and machine learning techniques because it provides improved fall detection rates, better monitoring, and assist to reduce false positives. In the near future, technological advancements are expected to fuel the growth of the Fall Detection System Market.

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What restraints is the Fall Detection Systems Market subject to?

  • “High Costs”

The high cost of fall detection systems is likely to impede the fall detection systems market's growth. High subscription fees hinder these devices from being used in underdeveloped economies. Furthermore, some fall detection systems available in the market are not completely reliable and can harm market growth.

  • “Lack of Awareness”

Despite the fact that the rate of falls globally is increasing, a lack of awareness regarding fall detection systems is hampering the market growth, particularly in developing countries. Additionally, a lack of knowledge and technology in some economically backward countries is a major restraint for the market for fall detection systems.

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Competitive Landscape

The Fall Detection Systems market is highly competitive and consists of significant major players that dominate the market. Several market players are implementing new and differentiating strategies to meet product demand and dominate the regional market. The market players are focusing on mergers and promoting research & development activities to develop new and technologically advanced products.

Fall Detection Systems Market Industry Report Scope

Attribute

Details

Forecast Period

2022-2029

Historical Data Available for

2014-2021

Market Analysis

  • US$ Mn/Bn for Value

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa

Key Countries Covered

  • U.S.
  • Canada
  • Germany
  • Italy
  • France
  • U.K.
  • Spain
  • Russia
  • India
  • China
  • Japan
  • UAE
  • Australia

Key Market Segments Covered

  • By Technology

Key Companies Profiled

  • Koninklijke Philips N.V.
  • Tunstall
  • ADT Inc.
  • Medical Guardian LLC.
  • BioTelemetry, Inc.
  • Bay Alarm Company
  • MobileHelp
  • MariCare Oy

Customization & Pricing

Available upon Request

Fall Detection Systems Market Categorization

Fall Detection Systems Market by By Product Type

  • Automatic Fall Detection Systems
  • Manual Fall Detection Systems

Fall Detection Systems Market By Technology

  • GPS-based
  • Mobile Phone-based
  • Sensor-based

Fall Detection Systems Market By Sensing Method

  • Wearable
    • Watches
    • Necklaces
    • Clip-to-Garments
  • Non-Wearable
    • Floor Sensors
    • Wall Sensors

Fall Detection Systems Market By End User

  • Home Care Settings
  • Assisted Living Facilities

Fall Detection Systems Market by Region

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa (MEA)

Media Release

- FAQs -

In 2022, the Fall Detection Systems Market stands at USD 448.5 million, and it is expected to reach USD 607.9 million by 2029 at a CAGR of 4.4%.

Fall Detection Systems Market exhibited a 4% CAGR between 2014 and 2021.

High cost of subscription and lack of awareness are the key restraints in the Fall Detection Systems Market.

Increasing penetration of smartphones and technological advancements are the key factors driving the growth of the market.

Koninklijke Philips N.V., Tunstall, ADT Inc., Medical Guardian LLC., are among the top players in the market.

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