(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Sept. 19, 2023 (GLOBE NEWSWIRE) -- The "Global Medical Alert Systems Market by Offering, Technology, System Type, Connection Type, Distribution Channel, Application - Cumulative Impact of COVID-19, Russia Ukraine Conflict, and High Inflation - Forecast 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The Global Medical Alert Systems Market is on the brink of substantial growth, with a remarkable Compound Annual Growth Rate (CAGR) projected for the upcoming period.
Recent economic and infrastructure development in various regions has given a boost to regional revenue generation. The comprehensive analysis of patterns related to domestic production, import and export, and consumption has empowered market participants to seize potential opportunities.
Furthermore, the report's qualitative and quantitative parameters, accompanied by detailed analysis, shed light on the driving and restraining factors shaping the market.
Market Segmentation & Coverage:
This all-encompassing research report classifies the Global Medical Alert Systems Market to forecast revenues and analyze trends in various sub-markets:
Offering: The market consists of two primary segments, Hardware and Services. Hardware includes Battery, Console Unit, Pendant Transmitter, Transmitter, and Wristband Transmitter. Services encompass Subscription Revenue, with Services projected to witness significant market share growth during the forecast period.
Technology: The market is divided into IP-Based Systems, Medical Alert Alarm (Button) System, Two-Way Voice Systems, and Unmonitored Medical Alert Systems. Medical Alert Alarm (Button) System is expected to witness significant market share growth during the forecast period.
System Type: Three main system types are studied-Nurse Calling System, Personal Emergency Response System, and Smart Belt. Nurse Calling System includes Button-Based Systems, Integrated Communication Systems, Intercom Systems, and Mobile Systems. Personal Emergency Response System includes Home-Based or Landline-Based System and Mobile PERS. Mobile PERS is further categorized into Cellular Emergency Response System, GPS-Based Emergency Response System, and Wireless Emergency Response System. Smart Belt is projected to witness significant market share growth during the forecast period.
Connection Type: The market is explored in terms of Wired and Wireless, with Wired projected to witness significant market share growth during the forecast period.
Distribution Channel: The market is studied across Hypermarkets, Online Sales, and Pharmacies, with Hypermarkets projected to witness significant market share growth during the forecast period.
Application: Various application sectors are assessed, including Assisted Living Facilities, Home-Based Users, Hospitals & Clinics, Mental Healthcare Centers, Nursing Homes, Retirement Homes, and Senior Living Facilities or Senior Care Centers, with Nursing Homes poised for significant market share growth during the forecast period.
Region: The report offers a comprehensive regional analysis, covering the Americas, Asia-Pacific, and Europe, Middle East & Africa. Key countries within these regions are also highlighted, providing a granular view of market dynamics. The Americas held the largest market share of 38.75% in 2022, followed by Europe, Middle East & Africa.
The report delves into the factors driving and inhibiting market growth, offering insights into opportunities and challenges:
Increasing rate of geriatric population Ease of operation of the devices, making them suitable for consumers with different health conditions Assurance of early intervention in case of emergencies
Higher cost of subscription and other hardware components
Incorporation of artificial intelligence (AI) and machine learning technologies Technological development of fall detection technology Possibilities of integrating smart home systems with the device to ensure better operation
Risks of system failure due to connectivity issues persistent in 3G/4G connections
The report provides insights into several key aspects:
Market Penetration: It offers comprehensive information on the market provided by key players.
Market Development: The report delves into lucrative emerging markets and analyzes penetration across mature segments of the market.
Market Diversification: It provides detailed information about new product launches, untapped geographies, recent developments, and investments.
Market Trends: The report offers a comprehensive understanding of the cumulative impact of COVID-19, the Russia-Ukraine Conflict, and High Inflation.
Competitive Assessment & Intelligence: The report exhaustively assesses market shares, strategies, products, certifications, regulatory approvals, patent landscapes, and manufacturing capabilities of the leading players.
Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
The report addresses pivotal questions, including:
What is the market size and forecast of the Global Medical Alert Systems Market? How have inhibiting factors and the impact of COVID-19 shaped the Global Medical Alert Systems Market during the forecast period? Which products/segments/applications/areas are ideal for investment in the Global Medical Alert Systems Market? What is the competitive strategic window for opportunities in the Global Medical Alert Systems Market? What are the prevailing technology trends and regulatory frameworks in the Global Medical Alert Systems Market? What is the market share of the leading vendors in the Global Medical Alert Systems Market? What modes and strategic moves are considered suitable for entering the Global Medical Alert Systems Market?
No. of Pages: 183 Forecast Period: 2023 - 2030 Estimated Market Value (USD) in 2023: $22.5 Billion Forecasted Market Value (USD) by 2030: $52.17 Billion Compound Annual Growth Rate: 12.6% Regions Covered: Global
ADT LLC AlertOne Services, LLC Bay Alarm Medical Blue Line A/S ConnectedAmerica.Com, LLC Electronic Caregiver Galaxy Medical Alert Systems, Inc. Guardian Alarm Koninklijke Philips N.V. Life Alert Emergency Response, Inc. LifeFone LifeStation, Inc. MobileHelp, LLC Rescue Alert Response Now Tunstall
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Tags Fall Detection Medical Alert System Medical Alerts Patient Monitoring Equipment