Overview
Medical alert systems serve as vital life-saving tools, particularly for elderly individuals living alone. These systems help users stay on track with medication schedules throughout the day and offer emotional reassurance. Many medical alert devices include fall detection as a standard feature, as slips, trips, and falls are among the leading causes of serious injury and hospitalization in seniors.
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Market Growth Trends
The growing demand for medical alert systems is fueling market growth.
The increasing geriatric population with chronic diseases is driving market growth. According to the Department of Economic and Social Affairs, the number of people aged 65 and over in the United States was approximately 727 million in 2020, projected to reach 1.5 billion by 2050.
Globally, the percentage of the population aged 65 and older is expected to rise from 9.3% in 2020 to 16% by 2050. Additionally, one in ten individuals aged 45 and above experiences subjective cognitive decline, leading 41% of them to reduce their daily activities, thereby increasing the demand for emergency alert systems.
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Market is segmented
By Product Type: At Home Medical Alert Systems, Mobile Medical Alert Systems
By Product Form: Wristbands, Necklaces, Panic Buttons, Pullcords, Others
By Product Connectivity: Landline Connectivity, Cellular Connectivity, GPS Tracking
By Monitoring Service Availability: Monitored Medical Alert Systems, Non-Monitored Medical Alert Systems
By End-Users: Home-Care, Hospitals Clinics, Nursing Homes, Assisted living facilities
By Region: North America, South America, Europe, Asia Pacific, Middle East, and Africa
Market Key Players
- Koninklijke Philips N.V.
- Honeywell International Inc.
- LifeStation Inc.
- Medical Guardian LLC
- Bay Alarm Company
- LifeFone Medical Alert Services
- Aid Call Ltd.
- Integrity Tracking LLC
- VRI Medical Alert Systems
- Alert-1
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