Welcome : Guest

Rising Preference for Aging-In-Place to Drive the Global Personal Emergency Response Systems (PERS) Market


Published: June 2017

REPORT STATISTICS


  • Code: MCP-7561
  • Pages: 278
  • Tables: 36
  • Companies: 105


PERSONAL EMERGENCY RESPONSE SYSTEMS (PERS): A RESEARCH BRIEF

The global market for Personal Emergency Response Systems (PERS) is projected to reach US$7.4 billion by 2024, driven by the rapidly aging population and increase in social and community centered programs and solutions such as home-based health programs that support aging in place. The United States represents the largest market worldwide, supported by technological developments; launch of new smart devices with fall detection, disease tracking, proximity sensing and health data integration capabilities; and increased acceptance of technology-assisted healthcare among the educated elderly. Although demand for social care services is still at an embryonic stage in Asia-Pacific, the region nevertheless is forecast to grow at the fastest CAGR of 8.2% through the analysis period with a large chunk of projected growth forecast to be driven by the affluence of educated elderly individuals and their adult children and the ability to afford the cost of aging in place; development of retirement communities and senior housing facilities facilities; growing private investments in medical alert response services; robust foreign investments by overseas med-tech companies; digitalized lifestyles and familiarity of the elderly with the use of smartphones and other connected wearables. While fragmented and inconsistent regulatory and reimbursement regimes will challenge market penetration, strong commercial opportunities currently exists among customers seeking premium healthcare services. 

    Summary of Findings

  • Favorable Government Policies Supporting Social Care Services for the Elderly Drives Demand for Medical Alert Systems in Developed Markets
  • Booming “Silver Economy” Coupled With Growing Acceptance of Smartphones and Connected Wearables Among the Elderly to Spur Opportunities for Mobile PERS (mPERS)
  • Development and Launch of Novel Portable Devices with Two-Way Voice Communication Capabilities and Longer Battery Back-Up Features Help Spearhead Market Growth
  • Developments in “Caregiving” Technology Supported by Cloud-Based Services, Connected Devices & IoT to Benefit the PERS Market
  • Growing Adoption of mPERS Even Among On-the-Go Active Individuals for Personal Safety Helps Expand the Addressable Market Opportunity

    Timeline for Analysis

  • Market Estimates and Forecasts for 2016-2024
  • Historic Review 2011-2015

    Geographic Markets Analyzed

  • US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, and Rest of Europe), Asia-Pacific, Middle East & Africa and Latin America

MAJOR PLAYERS

  • ADT Security Services, Inc.
  • Alert Response, LLC
  • AlertOne Services LLC
  • Appello
  • Bay Alarm Medical
  • Chubb Community Care

KEY RESEARCH DELIVERABLES

  • Review of Industry/Market Structure
  • Analysis of Trends & Drivers
  • Insights on Macro Market Scenarios
  • Market SWOT Analysis
  • Latent Demand Forecasts & Projections
  • Comprehensive Geographic Market Analysis
  • Presentation Ready Facts & Statistical Data Findings
  • Coverage of Major/Niche Players, Market Shares & Competition
  • Coverage of major Company/Technology/Product/Financial Stories
  • Extensive Product/Service/End-Use/Technology Coverage Where Applicable