Market Overview:
The global market for Personal Emergency Response Systems (PERS) estimated at USD 8.76 Billion in the year 2022, is expected to reach a revised size of USD 14.94 Billion by 2030, growing at a CAGR of 6.9% over the forecast period 2023-2030
Personal Emergency Response Systems, also known as Medical Emergency Response Systems, offer a straightforward and efficient means for individuals to call for help during emergencies by simply pressing a button. Primarily designed for recipients at high risk of institutionalization who require immediate assistance, PERS services cater to people aged 14 and older, living alone or spending significant time alone, necessitating constant monitoring and supervision.
Market Drivers and Opportunities:
The market for Personal Emergency Response Systems is fueled by several key drivers, including the increasing geriatric population and the rising incidence of health disorders leading to hospitalization. Specifically developed for older adults who spend extended periods alone and face a higher risk of falling as they age, the demand for PERS devices is rising with the growing number of elderly individuals. Studies indicate that approximately 30% of people over the age of 65 experience falls annually, with the percentage rising to over 50% for those above 80 years old. Moreover, older adults are more likely to suffer from diseases like Parkinson's, Alzheimer's, epilepsy, and diabetes, increasing their vulnerability when living alone. Hospitalization among older adults is also on the rise, highlighting the need for PERS devices that can provide immediate assistance and alert others during emergencies.
Product innovation and technical advancements tailored to suit all ages, abilities, and preferences, along with the increasing adoption of smartphones among older people, further contribute to the growth of the PERS market. As around 90% of adults aged 50 and older prefer to stay in their homes rather than nursing homes, PERS systems, as medical alert devices, play a crucial role in maintaining their independence and safety. Advances in mobile capabilities and sensor technologies continuously enhance these systems, enabling better connectivity opportunities through advanced technologies like the Internet of Things (IoT). Modern PERS technology offers a multitude of features, such as cellular, GPS tracking, fall detection, and WiFi tracking, making them highly portable and personalized for customer protection and safety.
Segment Analysis:
The Personal Emergency Response System (PERS) market is segmented by type and end-user. Mobile PERS and Standalone PERS segments are expected to dominate the market during the forecast period. The growth of the mobile PERS segment is primarily driven by its mobility factor, offering patients the option to stay at home without compromising the protective shield offered by the PERS device. Additionally, mobile PERS devices equipped with GPS and WiFi locating technologies can accurately identify the subscriber's location when the button is pressed. Standalone or mobile-based remote PERS systems provide immediate emergency assistance and enhanced independence, extending their utility beyond the confines of a home environment. These systems play a vital role during emergencies and accidents, which can be devastating and common, with unintentional injuries or accidents accounting for over 200,000 deaths in the US alone in 2020, according to Statista data.
Regional Insights:
North America leads the global Personal Emergency Response System (PERS) market and is expected to maintain its dominance over the forecast period. The region, particularly the United States, is witnessing a rapid rise in chronic diseases and an aging population. With approximately 13.2 million hospitalizations for adults aged 65 and older in the United States each year, including medical conditions, surgeries, injuries, and mental health and substance use conditions, the demand for Personal Emergency Response Systems is steadily increasing. Furthermore, improved healthcare facilities and early adoption of new technologies contribute to the growth of the PERS market in North America. The region's preference for aging adults to stay at home further drives the demand for PERS devices, ensuring enhanced security and safety.
Asia-Pacific is also expected to witness a healthy growth rate in the market, driven by the increasing geriatric population and the implementation of home-based health programs.
Major Market Players and Recent Developments:
Key players in the Personal Emergency Response System (PERS) market include Koninklijke Philips N.V. (Netherlands), Honeywell International Inc (US), Life Alert Emergency Response Inc. (US), AlertONE Service Inc. (US), MedicAlert Foundation (US), ADT Security Services Inc. (US), Bay Alarm Medical (US), Shenzhen Giftshine Technology Co. Ltd. (China), Nortek Security & Control LLC (US), Galaxy Medical Alert Systems Ltd. (Canada), Medical Guardian LLP (US), Rope Innovation Co. Ltd. (China), Electronic Caregiver Inc. (US), Ningbo Hi-Tech Park Jabo Electronics Co. Ltd (China), Vanguard Wireless (Australia), Tynetec Ltd. (UK), and other major players.
Key Industry Developments:
In November 2022, MedScope Limited, a leading provider of customizable personal emergency response systems (PERS) services, launched the Mini Lite, a medical alert device. This sleek and shower-proof wearable device is the lightest and smallest PERS device on the market, weighing less than an ounce. The Mini Lite also comes with the option of advanced fall-detection technology, enhancing care management for users.
In June 2021, Medical Guardian collaborated with BLACK+DECKER to support the goViaTM collection of personal emergency response systems, specially designed for confident mobility among active older Americans.
In May 2020, NationsBenefits LLC, a leading supplemental benefits company, announced an exclusive partnership with ADT to expand its offering to include Personal Emergency Response Services (PERS) for Medicare Advantage (MA) and Part D Plans for the plan year 2021.
Personal Emergency Response Systems Market Segmentation:
By Type
- Standalone PERS
- Landline PERS
- Mobile PERS
By End-User
- Home-Based Users
- Assisted Living Facilities
- Nursing Homes
- Senior Living Facilities
- Hospice Care
For this report, Introspective Market Research has segmented the Personal Emergency Response Systems Market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2023-2030)
North America
- US
- Canada
- Mexico
Eastern Europe
- Bulgaria
- The Czech Republic
- Hungary
- Poland
- Romania
- Rest of Eastern Europe
Western Europe
- Germany
- UK
- France
- Netherlands
- Italy
- Russia
- Spain
- Rest of Western Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Malaysia
- Thailand
- Vietnam
- The Philippines
- Australia
- New Zealand
- Rest of APAC
Middle East & Africa
- Turkey
- Bahrain
- Kuwait
- Saudi Arabia
- Qatar
- UAE
- Israel
- South Africa
South America
- Brazil
- Argentina
- Rest of SA
