The latest report by IMARC Group, titled ““Personal Emergency Response System Market : Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“.The global personal emergency response system market size reached US$ 5.86 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 8.02 Billion by 2028, exhibiting a growth rate (CAGR) of 5.40% during 2023-2028.
A personal emergency response system (PERS) is a vital tool designed to provide immediate assistance to individuals in times of distress or medical emergencies. It typically consists of a wearable device, often a pendant or wristband, equipped with a button that can be easily activated by the user. When pressed, this button connects the individual to a 24/7 monitoring center staffed by trained professionals. These professionals can assess the situation, communicate with the user, and, if necessary, dispatch appropriate help, such as emergency medical services or a designated contact person.
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Personal Emergency Response System Market Trends and Drivers:
The aging population, particularly in developed regions like North America and Europe, is a primary driver. As the elderly population grows, there is an increased demand for PERS devices to ensure their safety and enable them to live independently. Additionally, the prevalence of chronic illnesses, such as heart disease and diabetes, is on the rise. PERS systems offer a lifeline for individuals with these conditions, allowing them to receive prompt medical attention during emergencies. Other than this, the increasing trend of urbanization is leading to smaller households and extended families living apart. PERS systems provide reassurance to families that their loved ones can receive immediate help when needed, even when they are not physically present. Besides this, PERS systems help reduce healthcare costs by minimizing hospital admissions resulting from falls or medical emergencies. This cost-saving aspect is driving adoption by healthcare providers and insurers. In line with this, greater awareness of personal safety and healthcare options is prompting more individuals to invest in PERS devices for themselves or their elderly family members. Furthermore, various governments are promoting the use of PERS systems to alleviate the burden on healthcare systems and improve the quality of life for seniors. This includes subsidies and incentives for PERS adoption.
Report Segmentation:
The report has segmented the market into the following categories:
Type Insights:
- Mobile PERS
- Landline PERS
- Others
End User Insights:
- Home-based Users
- Assisted Living Facilities
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- ADT Inc.
- Alert1 Medical Alert Systems
- Bay Alarm Medical (Bay Alarm Company)
- GreatCall Inc. (Best Buy Co. Inc.)
- Guardian Alarm
- Koninklijke Philips N.V.
- Life Alert Emergency Response Inc.
- LogicMark Inc.
- Medical Guardian LLC
- Rescue Alert
- Tunstall Group Limited
- VRI Inc. (Modivcare Inc.),
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