Global Personal Emergency Response Systems (PERS) Market to Reach $10.7 Billion by 2026

Personal Emergency Response Systems (PERS) are stationary devices or mobile devices that can be worn as a pendant or a bracelet, which the user presses/triggers in the event of an emergency. PERS enable older and vulnerable people to lead an independent life through reassurance and constant monitoring. Demand in the global market is set to be fueled by the trend towards home based healthcare, increase in average life expectancies, increasing population of baby boomers, and growing participation of public and private sectors in elderly care services. An aging global population constitutes the primary driving force for the growth in the market. Rising incidence of chronic diseases such as strokes, epileptic seizures or Alzheimer is expected to further drive the market as these people require attention from medical specialists during emergency. Improvements in healthcare infrastructure, extensive adoption of smartphones and penetration of advanced home healthcare devices are playing a pivotal role in bolstering the market growth.

Amid the COVID-19 crisis, the global market for Personal Emergency Response Systems (PERS) estimated at US$7.2 Billion in the year 2020, is projected to reach a revised size of US$10.7 Billion by 2026, growing at a CAGR of 6.6% over the analysis period. Mobile PERS, one of the segments analyzed in the report, is projected to record a 7.5% CAGR and reach US$5.8 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Landline PERS segment is readjusted to a revised 6.2% CAGR for the next 7-year period. Mobile PERS systems enable constant monitoring of individuals even outside the confines of their homes. Growth in the segment is being driven by broader acceptance of these systems Landline PERS is the traditional form of personal emergency response systems. These are immobile and restricted to confined spaces. Traditional PERS devices are economical, do not require charging and benefit from superior audio reception.

The U.S. Market is Estimated at $2.6 Billion in 2021, While China is Forecast to Reach $678.4 Million by 2026

The Personal Emergency Response Systems (PERS) market in the U.S. is estimated at US$2.6 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$678.4 Million by the year 2026 trailing a CAGR of 8.6% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.8% and 6.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 6.6% CAGR. North America remains at the forefront of overall adoption, led by rising healthcare expenditure, presence of major players and continuing transition from fee toward value-based healthcare services. Europe represents another key market, due to rising elderly population. Asia-Pacific has been exhibiting relatively higher rates of adoption of telecare systems including PERS in the recent years with a rapid increase in the elderly population and rising adoption of home healthcare devices.

Standalone PERS Segment to Reach $2.3 Billion by 2026

Standalone personal emergency response systems encompass individual devices equipped with communication systems, monitoring systems and transmitters. In the global Standalone PERS segment, USA, Canada, Japan, China and Europe will drive the 5.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.4 Billion in the year 2020 will reach a projected size of US$2.1 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$131.3 Million by the year 2026.