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The medical alert systems market is estimated to be worth USD 6.5 billion in 2020 and is projected to reach USD 9.6 billion by 2025, at a CAGR of 7.9% from 2020 to 2025. The global medical alert systems market exhibits a lucrative growth potential for the next several years. The major factors driving the growth of the medical alert systems market are rising elderly population, inclination of senior adults towards the independent living, increasing adoption of mobile personal emergency response systems, favourable healthcare reforms and financial assistance provided by the government. The technological advancements in the field of mobile PERS and the introduction of emerging technologies like AI and IoT has impacted the medical alert systems market positively.

Koninklijke Philips (Netherlands) is one of the world’s most significant medical technology, services, and solutions provider with various medical equipment like medical alert systems, imaging solutions, respiratory care, and so on. Its global presence in the medical alert systems market makes it a dominant player in this segment.  Philips’s distinctive competencies include its organic and inorganic growth strategies, a large number of patents, and innovative product portfolio. The company focuses on inorganic growth strategies to stay ahead in the medical alert systems market. For example, Philips’ acquisition of US-based Blue Willow Systems in September 2018 enhanced the company’s offering of medical alert systems and solutions related to elderly care. However, despite huge revenues and steady cash flow, the company’s connected devices and informatics business segment is witnessing flat sales. The company has a strong presence in North America and Europe. The company can explore new opportunities in emerging markets through partnerships and joint ventures to gain a larger market share in other geographic regions and reduce overreliance on the US and European market. The company could use its strong product portfolio, brand image, and distribution channel to strengthen its position on the emerging markets like APAC, where the healthcare expenditure is witnessing a significant surge

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Connect America (US) is one of the largest providers of medical alert systems in North America. It caters to the people who are suffering from some physical challenges, medical ailments, deciling health and senior citizens who wish to live independently. The company provides connected health solutions through a network of 1000 healthcare partners. The company offers solutions like medical alert systems, medication management, and remote patient monitoring under its healthcare division. Connect America offers medical alert systems for people with different age groups. It provides on-the-go systems and in-home systems with an option to include automatic fall detection. The company is trying to grow inorganically with the help of various acquisition in the field of medical alert systems. For example, the company acquired Tunstall Americas, a established player in the connected health services domain in January 2019. The geographical presence of the company is limited to the North American region and is one of the major hindrances in its growth. The company can expand its operations in different emerging markets to increase its revenue and develop as a global player in the medical alert systems market.

Valued Relationships (VRI, US) is one of the renowned players which provides health monitoring solutions to old age people and persons with disabilities or illness. The company is operating in the medical industry for the last 25 years and provides solutions like medical alert systems, vitals monitoring, and medication management systems. It holds a strong position in the US in the medical alert systems market because of its product portfolio and excellent service. The company can take advantage of its existing strategy to collaborate with the players who are working on emerging technologies like IoT (Numerex) and can develop innovative solutions for the targeted audience in other regions. Such collaborations can help the company to become an international player in the medical alert systems market. Apart from this, the presence of a large number of competitors in the US can also hamper the growth of the company and hence it needs to expand its operations outside the US.

Guardian Alarm (US) is a privately owned company and primarily provides residential home security & life safety systems, commercial access control, cameras, cloud storage security and medical monitoring & alert systems. The company has enormous experience in the field of security solution. However, the company evolved its medical alert systems business in the late 90s. Guardian Alarm works along with the healthcare agencies to provide the latest medical alert systems to the people. The company offers a comprehensive line of medical alert system that fits with the specific need of a person to support safe and independent living. The company started using the 4G LTE  services by launching its advanced medical alert system called Guardain Essence 4G for faster communication in emergencies. Guardian Alarm does not provide the auto fall detection sensors in its devices apart from the basic tabletop PERS. The other players in the medical alert systems market provide the auto fall detection option in almost all the variants of PERS. Guardian Alarm should give an opportunity of auto fall detection in its other variants of PERS as well.

AlertOne Services (US) is one of the prominent players in the medical alert systems market. It is a US-based company that mainly deals with medical alert systems and senior safety devices. It is one of the HIPPA compliant company. Alertone Services provides various types of medical alert systems, lockboxes, medical ID bracelets, accessories and medication dispensers. The company provides alert services in 190 different languages for seniors and families. The company provides one of the most affordable medical alert systems and services in the US and is a leading name in the field. The company has integrated WiFi into its devices for better communication and also supports VOIP. Alertone Services serves only the US market for medical alert systems and can tap the other parts of the world like Europe and APAC, where expenditure on healthcare is significant. The company can enter these markets by partnering with the local players or using inorganic strategies like an acquisition or by forming a JV.

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