Fall detection systems are devices or software that are designed to detect when an individual has fallen and to alert emergency personnel or caregivers. The market for fall detection systems is growing rapidly, as the aging population and the increasing prevalence of chronic conditions such as arthritis and Parkinson’s disease have created a demand for these products. This market research study examines the trends and forecasts for the fall detection system market, including the key drivers and challenges facing the industry. The study also explores the impact of key factors such as technological innovation, government regulations, and consumer preferences on the market. Overall, this study provides a comprehensive analysis of the current state of the fall detection system market and offers insights into its future growth potential
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Persistence Market Research delivers key insights and presents a revised forecast of the global fall detection system market for an eight year period from 2017 to 2025 in a report titled “Fall Detection System Market: Global Industry Analysis (2012–2016) and Forecast (2017–2025).” The revision in the market size and forecasts have been carried out taking into account the impact of various macroeconomic indicators and other industry based demand driving factors, as well as the recent developments of key market participants. The global fall detection system market is projected to expand at a healthy CAGR of 4.5% in terms of value during the forecast period, revised from the previous CAGR of 4.9%, due to factors regarding which PMR offers useful insights in detail in this report. The fall detection system market is estimated to account for US$ 365.2 Mn in 2017 and is expected to increase to US$ 518.5 Mn by 2025. North America and APAC are expected to collectively account for nearly 57.7% revenue share of the fall detection system market in 2017.
The market for fall detection systems, though shrouded by high cost of equipment, false positives of equipment and lack of awareness, presents lucrative opportunities for manufacturers and service providers alike, as these offer ease of accessibility, affordability, and effective administration to potential customers. The report analyzes the global fall detection system market in terms of market value (US$ Mn) by product type, sensing modalities, technology, end user and region. It also provides information regarding market dynamics, competitive landscape, current trends, market estimations and forecast.
Companies
- Koninklijke Philips N.V.
- Tunstall
- ADT Inc.
- Medical Guardian LLC.
- BioTelemetry, Inc.
- Bay Alarm Company
- MobileHelp
- MariCare Oy
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North America is expected to dominate the global fall detection market throughout the forecast period, driven by increasing number of falls among the geriatric population, rising prevalence of chronic diseases, proliferation of smartphones and adoption of fall detection systems as supportive tools for independent living. The market in U.S. for fall detection systems in North America holds the largest share. The fall detection system market in the U.S. is expected to increase from the current estimated value of US$ 136.9 Mn in 2017 to US$ 197.4 Mn by 2025, registering a CAGR of 4.7% over the forecast period. Rising number of falls among old people, increasing demand for fall detection systems due to their superior effectiveness and increased focus on maintaining superior quality of life are factors expected to boost overall demand in the fall detection system market in the near future.
By product type, the fall detection system market is segmented into automatic fall detection systems and manual fall detection systems. The automatic fall detection systems segment is expected to dominate the global fall detection systems market by the end of 2025. The segment is projected to register an above average growth rate over the forecast period.
By sensing modalities, the fall detection system market is segmented into wearable and non-wearable segments. Among these, the wearable segment is expected to dominate the overall market by 2025, owing to ease of use and portability of these devices and rising number of falls among the aging population as well as increasing adoption of new technologies by the elderly to live independently and safely at home.
By technology, the fall detection system market is segmented into GPS systems, mobile phones, and sensors. Among these, the sensors segment is expected to gain high demand in comparison to all other segments over the forecast period.
By end user, the fall detection system market is segmented into home care settings and senior assisted living facilities. Among these, the home care settings segment is expected to remain the most attractive and is estimated to account for 70.7% share of the global market by 2017 end, and further increase to 74.2% by 2025.
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Key Questions Answered in This Report.
- What are the Roadblocks for Fall Detection System Market Suppliers?
- What are the Key Opportunities for Fall Detection System Market Manufacturers?
- How is Focus on Safety Influencing Fall Detection System Market Demand?
- What is the Regulatory Impact on Global Sales of Fall Detection System Market?
- Which Region Offers the Largest Opportunity for Sales of Fall Detection System Market?
- Where Does the U.S. Stand in the Market for Fall Detection System Market?
- What Is the Outlook for Fall Detection System Market Manufacturers in China?
- Why is Germany a Lucrative Market for Fall Detection System Market Manufacturers?
- Why Will Belgium Outpace Other European Markets for Fall Detection System Market?
- Why is There High Demand for Tires in Fall Detection System Market?
- Why are Sales of Fall Detection System Market Surging?
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