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Medical Alert Systems Market Trends

  • Report ID: GMI10027
  • Published Date: Jun 2024
  • Report Format: PDF

Medical Alert Systems Market Trends

Technological innovations have led to the development of medical alert systems with advanced features such as GPS tracking, fall detection sensors, activity monitoring, and integration with smartphones, and other smart home devices.
 

  • Medical alert systems now offer improved connectivity options, including cellular, Wi-Fi, and Bluetooth, ensuring reliable communication between the user and monitoring center or designated contacts. This increased connectivity enables faster response times and more effective emergency assistance. For instance, in Feb 2024, KORE, a key global player in Internet of Things ("IoT") solutions, and Medical Guardian, a provider of personal emergency response systems (PERS), jointly announced their partnership for the first-ever medical alert device that utilizes eSIM technology.
     
  • Additionally, integration of medical alert systems with telehealth platforms allows for remote monitoring of vital signs, medication adherence, and other health-related metrics. This integration enhances the overall effectiveness of healthcare delivery, particularly for individuals with chronic conditions or those requiring ongoing medical supervision.
     
  • Furthermore, the miniaturization of technology has enabled the development of compact and discreet wearable medical alert devices, such as pendants, bracelets, and smartwatches. These wearable devices are more comfortable to wear and less obtrusive, increasing user acceptance and adoption. For instance, the LifeAlert pendant is a wearable device that allows users to summon help with the press of a button.
Authors: Mariam Faizullabhoy , Gauri Wani

Frequently Asked Questions (FAQ) :

Medical alert systems industry size was worth USD 8.9 billion in 2023 and will grow at a 9.8% CAGR between 2024 and 2032, driven by growing elderly population globally.

The home care settings segment captured USD 3.8 billion in 2023, primarily due to the increasing trend of aging-in-place and the growing preference for home-based healthcare solutions.

North America medical alert systems industry achieved USD 3.6 billion in 2023, propelled by the high adoption rates of advanced healthcare technologies.

Some of the prominent medical alert systems industry players are ADT, Ascom Group, Austco Healthcare, Bay Alarm Medical, Cornell Communications, Hillrom Services Inc., Honeywell International Inc., Jeron Electronics Systems Inc., Koninklijke Philips N.V., Life Alert, MobileHelp, Rauland-Borg Corporation, and Response Now, among others.

Medical Alert Systems Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 16
  • Tables & Figures: 236
  • Countries covered: 23
  • Pages: 140
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