As per our analysis report, the size of the global personal emergency response systems (PERS) market was valued at USD 3.88 billion in 2020. The market size is predicted to reach USD 5.05 billion by the end of 2025, registering a CAGR of 5.3% from 2020 to 2025.
Personal emergency response systems (PERS) are medical devices where individuals call for medical help during an emergency. These devices are exceptionally innovative, which contact the emergency care services or the other family members. Other than the use of patients during an emergency, these devices are also used for general-purpose to ensure safety and security when living or traveling alone.
Medical alert systems have a positive impact by providing the opportunity for action and promoting day or night access to the home care provider of a patient. Healthcare reforms are general rules that are used to address substantial development or improvements to health policy. Under the Patient Protection and Affordable Care Act (PPACA), a growing number of people with health insurance coverage will increase demand for services and goods from the healthcare industry, such as drop detectors and medical alert systems.
Increased awareness, self-care, and illness treatment also help people with chronic diseases and disabilities lead healthy and independent lives. The desire to live well with chronic conditions such as dementia and frailty drives the growth of this sector internationally by increasing demand for social care services. However, these traditional systems are simplistic and are of little help in the actual prevention and management of life. As the market for personal emergency response systems evolved from the securities market, maturity problems and extreme sales practices that do not bode well for long-term growth have also served as barriers to this market.
Factors such as the rise in the use of various applications available in android and IOS systems are a crucial driving factor for the PERS Market to grow. The growing geriatric population and the increasing prevalence of emergency care services are propelling the demand of the market.
Medical alert systems positively influence providing an opportunity by promoting day and night access to the home care provider. An increase in advanced technology offers better opportunities for the growth of the personal emergency response systems market.
However, concern towards the data security, lack of sufficient knowledge over the utilization of systems in rural areas, and high costs subjected to the manufacturing of a personal emergency response system is majorly limiting the growth of the PERS market. The dearth of skilled technicians in monitoring the systems is a challenging factor for the market players.
Impact of COVID-19 on the global PERS Market:
The Covid 19 is a contagious disease caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). The WHO has declared COVID 19 as a Pandemic. The COVID 19 had impacted all the sectors in its own way. Even the global economy got hit negatively during the pandemic. Due to the strict implementation of lockdown, almost all industries got shut down and adversely impacted. In parallel to that, some industries were seen positive growth irrespective of the pandemic. The Personal Emergency Response Systems (PERS) market has been affected negatively during the pandemic. The lockdown led the factories to shut down, and the production of the devices was paused. Moreover, the supply chain system was disturbed due to the lack of transportation mobility which hindered the market. But in parallel to that, post lockdown had led the market to grow instantly. Due to the COVID 19, the hospitals are at high risk for older people. All the non-covid patients are looking over the telemedicine with PERS to stay connected with emergency response centers anytime. These are the factors that led the Personal Emergency Response Systems (PERS) market post covid. The market players had tried their best to get the market into profits after the pandemic.
Market Size Available
2019 to 2025
2020 to 2025
By Type, End-User, and Region
Various Analyses Covered
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities
North America, Europe, Asia Pacific, Latin America, Middle East, and Africa
This research report on the Global PERS Market has been segmented based on the type, end-user, and region.
PERS Market - By Type:
Based on Type, the mobile PERS segment was the highest contributor to the global market due to the increasing use of smartphones among older people and the increasing demand for the best-in-class devices for patients like GPS, wireless, and 3G cellular.
PERS Market - By End User:
Based on end-user, the Home-based users have the most substantial revenue in the global market, operated through mobile and landline telephone, the largest revenue-yielding segment in the PERS market. The assisted living facilities are expected to have the fastest growth rate during the forecast period.
PERS Market - By Region:
Regionally, The Personal Emergency Response Systems (PERS) Market in North America was valued at USD 1.47 billion in 2020 and is anticipated to grow at a CAGR of 5.12% to reach USD 1.88 billion by 2025. The increasing acquisition of personal emergency response systems and the growing elderly population drives the North American PERS Market. Falls are the most prevalent causes of injury among the elderly. The American Hospital Association has announced that more than one-third of adults aged 65 years and above suffer from a fall each year, leading to several other chronic and severe concerns for older people. The U.S PERS market is likely to have the highest share in the global 2019 and is estimated to rise with a CAGR of 4.51% during the forecast period. The rise in chronic and technological advancements in healthcare industries is boosting the market. For instance, the Centers for Disease Control and Prevention (CDC) has stated that, in 2017, more than 50% of all adults in the US have one or two chronic diseases, and 25% suffer from two or more chronic diseases. The Canadian market is expected to lead the North American PERS market over the forecast period.
The European PERS Market follows North America in holding dominant shares of the market during the forecast period. The Europe PERS Market size is valued at USD 1.01 billion in 2020 and is anticipated to rise at a CAGR of 5.54% to reach USD 1.32 billion by 2025. The rise in smartphones or wireless phones and the increase in technological advancements are driving the European market. Moreover, the growing chronic diseases are boosting the market. For instance, according to the Swedish Agency for Health and Care Services Analysis, in 2014, almost 50 million adults are suffering from multiple chronic diseases in Europe, in case of Sweden, about 44% of the population have one chronic disease, and 25% population have two or more. The growing awareness and favorable reimbursement policies in the countries are propelling the European PERS Market.
The Asia Pacific is predominantly increasing in terms of market share during the forecast period. The Personal emergency response systems market in the Asia Pacific is valued at USD 620 Million in 2020. It is projected to grow at a CAGR of 5.85% to reach USD 830 Million by 2025 during the forecast period. The increasing awareness among the people about the PERS and the rise in technological advancements drive the market. Moreover, the rising economy in countries like India, China, and Japan is boosting the market. The easy government policies are attracting pharmaceutical companies to invest in the Asia Pacific. The presence of a high population is expanding the Asia Pacific's PERS Market.
KEY MARKET PARTICIPANTS:
The list of significant players playing a dominating role in the Global PERS Market profiled in this report is ADT Corporation, Life Guardian Technologies LLC, Koninklijke Philips N.V., Tunstall Healthcare Group Ltd, Bay Alarm Medical Company, Philips Electronics N.V, Alert One Services LLC, Medical Guardian LLC.
RECENT DEVELOPMENTS IN THE PERS INDUSTRY:
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1.2 Mobile based
22.214.171.124 GPS mobile PERS
126.96.36.199 3G cellular emergency response
188.8.131.52 Wireless emergency response system
5.1.3 Landline based
184.108.40.206 Medical alert phones
220.127.116.11 Standalone voice communicator
18.104.22.168 V-cube monitoring system
22.214.171.124 Wandering system
126.96.36.199 Medical alarm system
5.1.5 Y-o-Y Growth Analysis, By Type
5.1.6 Market Attractiveness Analysis, By Type
5.1.7 Market Share Analysis, By Type
5.2.2 Home-Based Users
5.2.3 Senior Living Facilities
5.2.4 Assisted Living Facilities
5.2.6 Y-o-Y Growth Analysis, By End-user
5.2.7 Market Attractiveness Analysis, By End-user
5.2.8 Market Share Analysis, By End-user
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
188.8.131.52 By Geographical Area
184.108.40.206 By Type
220.127.116.11 By End-user
6.1.4 Market Attractiveness Analysis
18.104.22.168 By Geographical Area
22.214.171.124 By Type
126.96.36.199 By End-user
6.1.5 Market Share Analysis
188.8.131.52 By Geographical Area
184.108.40.206 By Type
220.127.116.11 By End-user
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 ADT Corporation
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Life Guardian Technologies LLC
8.3 Koninklijke Philips N.V.
8.4 Tunstall Healthcare Group Ltd.,
8.5 Bay Alarm Medical Company
8.6 Philips Electronics N.V.
8.7 Alert One Services LLC
8.8 Medical Guardian LLC
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures