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Personal Emergency Response Systems Market

Personal Emergency Response Systems (PERS) Market: A Growing Need for Senior Citizen Safety

Personal Emergency Response Systems Market by Product (Landline Devices, Mobile Devices, Standalone Devices, Mobile Applications)

Personal Emergency Response Systems Market Outlook (2023 to 2033)

The Global revenue from the Personal Emergency Response Systems Market was around US$ 5.3 Billion in 2022, with the global market expected to grow at a CAGR of 6.4% to reach a valuation of around US$ 11.8 Billion by the end of 2033.

Market Size (2023)

US$ 5.7 Billion

Projected Market Value (2033)

US$ 11.8 Billion

Global Market Growth Rate (2023 to 2033)

6.4% CAGR

Market Share of Top 5 Countries

70.9%

As assessed by Persistence Market Research, landline devices held a market share of around 57.9% in the global market, in 2022. Overall, personal emergency response market sales account for around 55.7% of revenue share in the medical alert systems market, which was valued at around US$ 9.4 Billion in 2022.

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Sales Analysis of Market from 2014 to 2022 Vs Market Outlook for 2023 to 2033

The Global market recorded a historic CAGR of 6.5% in the last 8 years from 2014 to 2022.

Personal Emergency Response System producers are concentrating on creating versatile personal emergency response systems.

The businesses are producing cutting-edge personal emergency response systems in a variety of wearable models that are compatible with both landline and cellular technologies in an effort to boost sales. As smartphones can be used as personal emergency response system devices after mobile applications are installed, mobile application-based personal emergency response system services are growing in popularity.

The increasing use of cell phones gives businesses a chance to develop innovative, cutting-edge safety solutions. The standalone medical alert applications have begun to proliferate in recent years, some medical alert service providers have created their own smartphone app to enhance their offerings. Smartphone applications are the forerunners of the medical alert protectors of the next generation, whether they are autonomous or brand-related programmes. This is boosting the growth of the market for personal emergency response systems market.

Key players in the global personal emergency response systems market are introducing smartphone-based applications to boost their market positions as digital technology is being adopted more widely around the world. A smartphone will display an emergency button on the screen after a mobile application is installed, enabling it to function as a personal emergency response system. The emergency button links to a service centre for emergency medical assistance when it is pressed. Major manufacturers are focusing on the innovative products which are introducing the smartphone-based applications which is adding the value to the growth of the market.

Major Companies are acquiring other small manufacturers from the market, to boost their business channels in the personal emergency response systems market. As a result, the revenue of the companies and ultimately the value of the market for overall personal emergency response system is increasing.

Technology and device types are changing rapidly in the personal emergency response system sector. Mobility, wireless communication, GPS tracking, app connectivity, and cloud platform integration are added. Adoption of such advanced technologies will help in increasing the sales globally.

The global market is likely to show high growth over the coming years at a CAGR of 6.4% and reach a global market size of US$ 11.8 Billion by 2033.

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How Can the Global Market Grow?

Adoption of High-end Personal Emergency Response Systems

The need for high end medical care to save lives in emergency situations is anticipated to increase as living standards and disposable income rise in industrialised countries.

Globally, healthcare spending per capita is rising. For instance,

  • According to the Centers for Medicare & Medicaid Services (CMS), spending on health care in the United States increased by 9.7 per cent in 2020 to $4.1 trillion, or $12,530 per person. The amount spent on health represented 19.7 percent of the country's GDP.

An incremental change in spending towards healthcare-related projects has been brought on by rising knowledge of and desire for fitness and health among the general public. Many wealthy and developing nations around the world are experiencing this trend to a significant degree. The market for personal emergency response systems is expanding as more people are becoming health-conscious.

The use of personal emergency response system can improve patient quality of life and dramatically lower healthcare expenses related to falls. This would lessen the significant financial strain that healthcare costs place on a country. In the personal emergency response system industry, key players are launching cutting-edge solutions that are simple to use and have high compatibility.

Devices with several features in terms of services are being offered by businesses in the personal emergency response system industry. Better services are provided by features like two-way audio communication, automatic fall detection, and medication reminders in a single device, which is anticipated to fuel market expansion

Companies are also producing a variety of gadgets for the personal emergency response systems market to meet the demands of ageing as well as disabled people. Due to its many capabilities, personal emergency response system stands out among all gadgets in terms of popularity.

Insurance firms in industrialised nations offer reimbursement plans for people with low incomes, giving them access to better fulfil their healthcare needs

Growing overall disposable income is expected to raise opportunities in the market.

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Can the Market Growth Be Affected in Any Way?

False Positive Defects of Equipment and High Production Cost

The high price of personal emergency response system services hinders its adoption in developing economies. Personal emergency response system is based on subscriptions that can be monthly, quarterly, or yearly. Age-related increases in fall risk are especially pronounced for older women living alone.

  • Over 80% of fall-related fatalities occur in low- and middle-income nations, with Southeast Asian and Western Pacific nations accounting for more than two-thirds of these occurrences.

The high subscription prices of this systems are a key barrier to the use of these devices in underdeveloped nations. Personal emergency response system is becoming more popular for a variety of applications, the fall detectors provided by different market companies are not totally accurate. This is a significant barrier to the market's expansion. Key manufacturers' fall detection systems are not perfect in spotting falls. The most precise systems for detecting falls reportedly have an accuracy of about 95%. In order to ensure prompt delivery of medical aid, these devices automatically transmit messages to the carer in the case of a fall. Automatic fall detection systems do not, however, detect sliding falls, which is a significant downside.

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Country-wise Insights

Why is the United States Market Booming?

“Rising Penetration of Personal Emergency Response System Devices”

The United States accounted for around 34.1% market share in the global market in 2022.

The United States market is expected to be the key revenue contributor in the forecast period. Due to increase in advanced technologies, geriatric population and rise in rate of central nervous system disorders which are primary factors expected to drive overall market.

Factors leading to the growth of the global market within the U.S. includes, an increase in the number of local companies conducting research and development, an increase in the number of innovative products and drug approvals, and the rising in funding for the development of novel technologies.

Will the United Kingdom Be a Lucrative Market for Personal Emergency Response System?

“Increase in Adoption Rate of Personal Emergency Response System in the Country”

The United Kingdom market held around 12.1% market share of the global market in 2022.

Increasing adoption of personal emergency response system in developing regions due to affordable pricing leads to the growth of U.K in global market.

The primary market participants in personal emergency response systems are concentrating on combining cutting-edge technology like account management for billing, document sharing, and real-time access to individualised treatment plans. Businesses are producing affordable products and giving discounts in an effort to boost sales.

How is Canada Emerging as a Prominent Market?

“Introduction to User-friendly Technologies”

Canada held a market share of about 14.1% of the global market in 2022.

Increasing adoption of mobile personal emergency system devices along with increasing number of falls among geriatric population contributes as the primary factor in boosting the global market of Canada.

The introduction to user-friendly technologies and less device cost helps to target the global market. The government funded insurance program, provides reimbursement for medical devices to the people with low income and eligible population. They also create new business channels and effective marketing promotions in Asia and Pacific is expected to generate revenues for companies.

The personal emergency response system providers in Canada are also utilizing wearable technology tread as an opportunity to grab target market.

Category-wise Insights

Which Product is Driving Demand within the Global Market?

“Rising Demand of Landline Devices Efficacy in Clinical Trials, and Low Physiological Toxicity”

The landline devices segment held around 57.9% share of the total market in 2022.

The range of landline devices, which use LAN technology, is between 300 and 1,500 feet. These gadgets are mostly used by people who work from home and in assisted living facilities to identify any emergency or risky situations and connect patients to rescuers or emergency services for medical attention.

Easy to install and providing quick response times, loud and clear hands-free conversations, the in-home medical alert system. It is also helpful for the peoples in old age groups who have less knowledge about the advanced gadgets and smartphones.

Which End User Propels the Global Sales in the Market?

“Preference to Home- Based Users, due to Safety and Quality Maintenance in Accordance to Regulations”

The home-based users held a share of about 67.8% in 2022, within the global market.

Geriatric population who remains at home and use personal emergency response system services in an emergency or any risk circumstance for quick medical treatment are examples of home-based PERS device users. Personal emergency response systems is mostly used by users who work from home to track their whereabouts and connect with contact centers when a person who is taking care of the patient is not present.

Competition Landscape

In the personal emergency response system industry, major players are launching cutting-edge solutions that are simple to use and have high compatibility. The Businesses in the personal emergency response system industry manufactures independent devices that provide end users with hassle-free use. Due to its appealing variations, wearable technology has recently attracted a large following of end users.

Some key instances of development include:

  • In 2019, Philips introduced the Philips Cares app which will allow to track your loved ones’ well-being and stay on top of their day-to-day care. GoSafe 2 is the newest addition to the Philips Lifeline mobile alert service family. This single piece system includes multiple, advanced locating technologies, fall detection capabilities and two-way voice communication all in a light, comfortable, easy-to-wear pendant.
  • In January 2019, Tunstall completes sale of Tunstall America to Connect America, this divestiture forms part of Tunstall’s strategic transformation in recent years, as it moves towards a technology-enabled managed services business model. Also, the Tunstall Healthcare has announced it is expanding its Connected Health solutions portfolio with the acquisitions of Kanayo Software Inc. and EWII Telecare. The acquisitions add core expertise in Software and App development for the healthcare market into Tunstall Healthcare's established global expertise in integrated health and social care.

Similarly, the team at Persistence Market Research has tracked recent developments related to companies in the personal emergency response systems market, which are available in the full report.

Personal Emergency Response System Industry Report Scope

Attribute

Details

Forecast Period

2023 to 2033

Historical Data Available for

2014 to 2022

Market Analysis

  • USD Million for Value
  • Units for Volume

Key Countries Covered

  • United States
  • Canada
  • Brazil
  • Argentina
  • Mexico
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • BENELUX
  • India
  • Thailand
  • Malaysia
  • Indonesia
  • China
  • Japan
  • South Korea
  • Australia
  • New Zealand
  • Türkiye
  • GCC Countries
  • North Africa
  • South Africa

Key Market Segments Covered

  • Product
  • End User
  • Region

Key Companies Covered

  • Koninklijke Philips N.V
  • LifeWatch USA
  • Tunstall
  • ADT Inc.
  • Medical Guardian LLC
  • MobileHelp

Report Coverage

  • Market Forecast
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives

Customization & Pricing

Available upon Request

Key Segments Covered in Personal Emergency Response System Industry Research

Product:

  • Landline Devices
  • Mobile Devices
  • Standalone Devices
  • Mobile Apps

End User:

  • Home Based Users
  • Assisted Living Facilities
  • Hospitals

Region:

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East and Africa

- Companies Covered in This Report -

  • Koninklijke Philips N.V
  • LifeWatch USA
  • Tunstall
  • ADT Inc.
  • Medical Guardian LLC
  • MobileHelp

- Frequently Asked Questions -

The global market is currently valued at around US$ 5.3 Billion in 2022.

The global market estimates for 2023 is around US$ 5.7 Billion.

The global market is set to reach valuation of around US$ 11.8 Billion by the end of 2033.

Sales of the market are set to witness growth at a CAGR of 6.4% between 2023 and 2033.

Demand for the global market increased at a 6.5% CAGR from 2014 to 2022.

The U.S., Australia, Canada, the U.K., and Spain drive the global demand, currently holding around 70.9% market share.

The U.S. accounts for around 34.1% share of the global market in 2022.

Latin America accounts for around 5.6% share of the global market in 2022.

The Canada market held a share of about 14.1% in the global personal emergency response systems market in 2022.

The U.K. personal emergency response system held about 12.1% of global market in 2022.

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