According to a new market research report published by Global Insight Services “Medical Alert Systems Market is expected to reach US$ XX bn by 2031”. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
A medical alert system is a device that is worn by a person with a medical condition, such as a heart condition, that requires immediate medical attention. The device is usually worn around the neck or wrist, and it is connected to a monitoring center. When the person wearing the device needs medical assistance, they can push a button on the device, which will send a signal to the monitoring center. The monitoring center will then contact the person’s emergency contacts, such as their family or friends, and provide them with the person’s location.
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Key Market Players
- Bay Alarm Medical
- MobileHelp
- Ascom Wireless Solutions
- ADT Corporation
- LifeFone
- Hill-Rom Holdings Inc.
Key Trends
There are several key trends in Medical Alert Systems technology. One is the development of mobile medical alert systems. These systems allow users to carry a small, portable device with them at all times. The device can be used to call for help in an emergency situation, even if the user is unable to speak. The other trend is the development of systems that can be integrated with other medical devices. For example, some systems now include a fall detection feature. If the system detects a fall, it will automatically call for help.
The development of systems that can be used in conjunction with GPS is one of the other trends in the market. This allows the system to send help to the user’s location in an emergency. Finally, there is a trend toward systems that are more user-friendly. Many systems now include features such as voice-activated call buttons and large, easy-to-read displays.
Key Drivers
There are several key drivers of the medical alert systems market. One of the most important drivers is the aging population. As people live longer, they are more likely to experience chronic health conditions that can benefit from having a medical alert system in place. Another key driver is the increasing prevalence of chronic diseases such as diabetes and heart disease. This is leading to a greater need for people to have access to medical help in case of an emergency. The other driver of the medical alert systems market is the increasing cost of healthcare. As healthcare costs continue to rise, more people are looking for ways to reduce their costs. This is leading to a greater demand for medical alert systems.
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Key Market Segments
- By System Type
- Nurse Calling System (NCS)
- Personal Emergency Response Systems (PERS)
- Smart Belt
- By Technology
- IP-based Systems
- Medical Alert Alarm (Button) System
- Two-Way Voice System
- Unmonitored Medical Alert Systems
- By Application
- Assisted Living Facilities
- Home-Based User
- Hospitals and Clinics
- Senior Living Facilities
- Others
- By Distribution Channel
- Offline
- Online
Reasons to buy Medical Alert Systems Market Report:
- Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
- Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
- Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
- Develop business and M&A strategies through understanding of latest trends and emerging players in the market
- Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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- 10-year forecast to help you make strategic decisions
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