`Medical Alert Systems Market
Medical alert systems are primarily portable devices that alert emergency departments/hotlines and family members when the patient's life is at serious risk. These portable, water-resistant devices are worn on the wrist or can be transported by elderly individuals with chronic and degenerative diseases. These devices are technologically connected with a GPS and receive pre-fed emergency contact numbers that can be alarmed when the wearer has had a stroke, heart failure symptoms, and navigation loss while suffering from dementia or other sudden ailments.
The Medical Alert Systems Market Analysis is rising since the ageing population wants to feel a sense of security and independence while doing daily chores. They do not want to depend on neighbours, well-wishers and family members for menial tasks. Hence, these devices are easy for mobility function and some much-needed workout. The wearer can push the emergency button that sends a signal to an emergency agency; these agencies already possess the patient's medical history and immediately contact healthcare facilities and family members.
Medical Alert Systems Market Size
It has been estimated that the medical alert system market will rise from $ 7.4 billion in 2021 to $ 12.7 billion by 2027. The projected CAGR rate is 10.9% during the years 2021 to 2030.
Medical Alert Systems Market Share
Advances in medical technology and collaboration with global companies have led to innovative devices that monitor patient locations and immediately deploy emergency services. North America continues to be the key contender when it arrives to execute the medical alert systems market since the bulk of the older generation prefers to survive an autonomous spirit. The other important area is the developing countries of the Asia-Pacific, where lifestyle improvements and economic growth have ensured that older people receive appropriate health services, even in nursing homes.
The main companies that have invested in this venture are Bay Alarm Medical, Medical Guardian LLP, Connect America LLC, ADT Inc., LifeFone, Galaxy Medical Alert Systems, and Koninklijke Philips N.V.
Medical Alert Systems Market Growth
Due to the advancement in healthcare technology, there has been a sudden increase in the life expectancy rate of the overall global population. This has resulted in the geriatric populations living alone in retirement. Most of those ageing people suffer from life-threatening chronic diseases. To assist them in an emergency, the health alert system was invented. These devices are equipped with telephone numbers and an emergency alert system in a health alert event or home-based accident. They come with real-time surveillance, location tracking, and push buttons to save lives for seniors.
The other factors that have given rise to the growth of this system are increasing in the adoption of smart and mobile emergency response systems. Favourable healthcare facilities have been established for the elderly by the government.
Medical Alert Systems Market Value
Many of the manufacturers are concentrating on AI-based applications connected to the GPS, Wi-Fi, and home-based eco-system. Medical warning systems are now integrated with the mobile voice alert system to generate two-way calls with emergency assistants and the patient in need.
The introduction of mPERS has revolutionized the medical alert systems market; these mobile integrated smartwatches can be worn on the wrist. They feature modern technological features such as fall detection algorithms, built-in sensors and mobile applications accessible in an emergency.
Industry News
Seniors in health care facilities, retirement homes and in-home quarantine homes previously depended on caregivers and family members. With the introduction of medical alert systems, they now have the right to an independent and carefree life, even with chronic diseases.
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