HOME Research Insight Market Leader - Medical Alert System/Personal Emergency Response System Market

Market Leader - Medical Alert System/Personal Emergency Response System Market

Personal emergency response systems (PERS) provide both in-house and out of the house round the clock medical assistance to the senior citizen in case of emergency. Technological innovations in personal emergency response systems and the globally increasing aging population are driving the growth of the overall personal emergency response system (PERS) market. The PERS market is expected to grow at a CAGR of 5.7% between 2017 and 2023 to reach USD 9.22 billion by 2023. In 2016, the personal emergency response system (PERS) market was dominated by Koninklijke Philips N.V. (Netherlands), ADT Corporation (US), Tunstall Healthcare Group Ltd. (UK), Valued Relationships, Inc. (US), and Medical Guardian LLC (US). Other major players in the PERS market include Nortek Security & Control LLC. (US), Legrand Assisted Living & Healthcare (UK), Alertone Services, LLC (US), LifeStation, Inc. (US), Bay Alarm Medical (US), LifeFone (US), GreatCall (US), Guardian Alarm (US), Connect America (US), Life Alert Emergency Response, Inc. (US), and MobileHelp (US).

Koninklijke Philips N.V. (Netherlands) was ranked first in the PERS market in 2016. The company’s product portfolio ranges from phone applications to standalone fall detection devices to the service from emergency response centers. The company uses both threshold system and machine learning methods, which considerably increases the scalability of the company’s fall detection system products. Along with this, the company’s emergency response centers provide a two-way communication service during emergencies. The company’s partnership with other senior assistive device manufacturers to increase its product distribution and brand name enables it to charge a premium for its products. Moreover, the company’s launch of four products in the last three years and its presence in North America, Asia Pacific (APAC), Europe, the Middle East, and South America would help in further strengthening its leading position in the PERS market. In December 2016, Koninklijke Philips N.V introduced “CarePoint 5.0”, an intuitive wireless health technology solution to enhance resident safety and provide emergency assistance. CarePoint 5.0 is powered by SmartCare software that oversees and processes a multitude of functions with speed and precision.

ADT Corporation (US) ranked second in the PERS market in 2016. The company is a leader in the European market. The company’s use of artificial intelligence and connected healthcare technology helps it to offer its products to a broad spectrum of customers. The company has been traditionally strong in the European market, and with its acquisition of Reliance Protectron, Inc. (Canada) in July 2014, the company has also significantly increased its footprint in the North American market. The acquisition of the ADT Corporation by Apollo Global Management, LLC (US) would increase the fund corpus of ADT Corporation, ultimately increasing its market share. 

Related Reports:

Medical Alert System/Personal Emergency Response System Market by Type (Landline, Mobile, Standalone), End User (Home-Based Users, Senior Living Facilities, and Assisted Living Facilities), and Geography - Global Forecast to 2023

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