Chicago, June 20, 2022 (GLOBE NEWSWIRE) -- According to Arizton’s latest research report, the U.S. personal emergency response systems market growing at a CAGR of 9.09%. The major factors propelling the market's growth are increased awareness of PERSs in the country, the prevalence of chronic diseases, and the risk of fall injuries. Other factors such as the adoption of smart, wearable devices for monitoring health, the rise in the geriatric population living independently, favorable healthcare reforms, and financial assistance for older adults also contribute to the growth of the overall PERS market. However, the high cost of PERS and growing data breach concerns restrict the market's growth.
U.S. Personal Emergency Responses Systems Market (PERS) Report Scope
| Report Attributes | Details | |
| MARKET SIZE (2027) | $3.7 Billion | |
| MARKET SIZE (2021) | $2.2 Billion | |
| CAGR (2022-2027) | 9.09% | |
| BASE YEAR | 2021 | |
| FORECAST YEAR | 2022-2027 | |
| MARKET SEGMENTS | Type (Mobile Systems and In-Home Systems), End-User (Homecare Agencies, Senior Living Centers, Direct to Consumer, and Others) | |
| GEOGRAPHIC ANALYSIS | United States | |
| KEY VENDORS | Connect America, Medical Guardian, VRI | |
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The global smartphone penetration is projected at an all-time high. This rise in the adoption of smartphones has led to the growth of the market. The wearable health device industry has also grown in recent years, and this trend is anticipated to continue in the upcoming years. Furthermore, technological advances in wearables may help patients adopt medical systems in the future. With the rapid growth in the elderly population, there is a rise in the demand for medical alert systems. PERSs are mostly for the older population and people with disabilities to effortlessly call for help during an emergency. They are also extensively adopted and used throughout most western countries. The elderly can age in the comfort of their own homes with the support of PERSs, and this feature is projected to drive market expansion.
Key Highlights
- In recent years, mobile systems or mPERSs are likely to lead the US PERSs market in the coming years as the adoption of smartphones has increased to a great extent.
- Wearable sensor technologies and IoT have a great potential to improve our lifestyles; for example, by providing healthcare monitoring systems responsible for tracking and managing health and fitness. The introduction of such technologies has transformed the healthcare sector and will drive the demand for PERSs.
- Around one million Americans live in senior living communities, which is expected to double by 2030. Thus, the increase in the number of assisted living centers will escalate the demand for PERSs as these systems help to keep elderly residents safe, reduce the events of emergencies, and provide all kinds of assistance.
Market Segmentation
Type:
- Mobile Systems
- In-Home Systems
End-User
- Homecare Agencies
- Senior Living Centers
- Direct to Consumer
- Others
The revolution brought by new technologies such as AI and IoT provides immense growth opportunities to vendors in the US PERSs market. Other prominent vendors included in the report are AlertOne Services, ADT Security Services, Bay Alarm Medical, Life Alert Emergency Response, Aloe Care Health, Cisco Systems, MobileHelp, One Call Alert, GreatCall Key, Lifefone Medical Alert Services, WellBe, Qmedic, ResponseNow, and Lively. They compete in the market by providing affordable PERSs to end-users. These vendors focus on delivering low-cost PERSs to their customers to compete with key players that dominate the market. The US PERSs market is highly competitive with the presence of global players that offer innovative and efficient medical alert devices to end-users.
Key Vendors
- Connect America
- Medical Guardian
- VRI
Other Prominent Vendors
- ADT
- Business Overview
- Product Offerings
- Alert One
- Aloe Care Health
- AT&T
- Cisco Systems
- Freeus
- HandsFree Health
- LifeFone Medical Alert Services
- MedGuard Alert Inc.
- MobileHelp
- Norton Control
- One Call Alert
- Lively
- QMedic
- ResponseNow
- Visonic
Table of Content
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.1.1 Inclusions
4.1.2 Exclusions
4.1.3 Market Estimation Caveats
4.2 Base Year
4.3 Scope of The Study
4.3.1 Market Segmentation by Type
4.3.2 Market Segmentation by End-User
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
6 Market at a Glance
7 Introduction
7.1 Overview
7.2 Medical Alert Systems
7.2.1 Evolution of Medical Alert Systems
7.2.2 Overview
7.3 Mergers & Acquisitions
7.4 New Product Launches
8 Market Opportunities & Trends
8.1 Introduction of Voice-Based and Mobile Medical Alert Systems
8.2 Adoption of Smartphone Applications Among the Geriatric Population
8.3 Growth in Number of Assisted Living Centers and Retirement Homes
8.4 Revolution Brought by Emerging Technologies, Such as IoT & AI
8.5 Transformation of The Healthcare Sector
9 Market Growth Enablers
9.1 Rise in Awareness of PERS Among the Geriatric Population
9.2 Increase in Prevalence of Chronic Diseases and Rise in Number of Injuries
9.3 Favorable Healthcare Reforms and Financial Assistance for Senior Citizens by The Government
9.4 Increase in the Adoption of Smart, Wearable Devices for Health Monitoring
9.5 Growth in the Geriatric Population Living Independently
10 Market Restraints
10.1 High Costs Associated with PERS And Limited Technology Literacy
10.2 Growth in Data Breach and Data Security Concerns
10.3 Increase in The Number of Alternatives
11 Market Landscape
11.1 Market Overview
11.2 Market Size & Forecast
11.2.1 Insights by Product
11.2.2 Insights by End-Users
11.3 Five Forces Analysis
11.3.1 Threat of New Entrants
11.3.2 Bargaining Power of Suppliers
11.3.3 Bargaining Power of Buyers
11.3.4 Threat of Substitutes
11.3.5 Competitive Rivalry
12 Product
12.1 Market Snapshot & Growth Engine
12.2 Market Overview
12.3 Mobile Systems
12.3.1 Market Overview
12.3.2 Market Size & Forecast
12.4 In-Home Systems
12.4.1 Market Overview
12.4.2 Market Size & Forecast
13 End-User
13.1 Market Snapshot & Growth Engine
13.2 Market Overview
13.3 Homecare Agencies
13.3.1 Market Overview
13.3.2 Market Size & Forecast
13.4 Assisted Living Centers
13.4.1 Market Overview
13.4.2 Market Size & Forecast
13.5 Direct-To-Consumer
13.5.1 Market Overview
13.5.2 Market Size & Forecast
13.6 Others
13.6.1 Market Overview
13.6.2 Market Size & Forecast
Explore our healthcare lifesciences profile to know more about the industry.
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