Personal Emergency Response System (PERS) Market to Grow at 5.8% through 2020 as Preference for Assisted Living Increases

2024-04-06 03:50:00 Health and Fitness

1010

Personal Emergency Response System (PERS) market is a wide-spread healthcare monitoring devices market serving individual users, assisted living facilities and senior living facilities specifically catering to the people in need of immediate medical attention or to ensure safety when living or travelling alone.

Request for Sample Data / Brochure:
http://industryarc.com/pdfdownload.aspx?id=1316

The PERS market has been segmented into three types:
? Landline
? Mobile and
? Standalone
Based on the type of end-users, the market is segmented into: home-based users, senior living facilities and assisted living facilities. During the forecast period of 2014-2020, the market is projected to grow steadily at 5.8% to generate revenue of $8,405.3m by 2020.
World?s aging population is estimated to grow rapidly to reach one billion by 2030, which accounts for 13% of total population. PERS enables the baby boomers to live independently and with minimal support from caretakers, which is the kind of lifestyle increasingly being preferred by majority of the aging population. The mounting costs of in-hospital care will drive the demand for affordable home- healthcare devices.

Table of Contents and Insights:
http://industryarc.com/Report/1316/Personal-Emergency-Response-Systems-market

As the aging population rises, there is an increasing burden on young caretakers to provide affordable as well as reliable home health monitoring tools for the older generation. This is expected to create a significant demand for PERS that will provide timely medical assistance in time of emergency.

In addition to the above factors, the mobile PERS market is likely to grow owing to the boom in the number of smartphone users and the mobility it provides to senior citizens in terms of active lifestyle. According to the U.S. Administration of Aging, out of the total number of the elderly people who are over the age of 65 years having broadband access at home, 90% of them own a cell phone. As the integration of healthcare monitoring systems in mobile phones is developing rapidly, the same is expected to drive the mobile PERS market in the years to come.

However, the limited range of landline PERS and increased rate of false alarms, inhibitions about usage of PERS devices are likely to hinder the market growth in the future.

Request for Customization:
http://industryarc.com/requestcustomization.aspx?id=1316

In 2013, North America held the largest share of 40% in the global PERS market. This can be ascribed to the improved health reforms and policies in countries such as the U.S. and Canada. The European PERS market accounted for 37% of the overall revenue, followed by the APAC region. However, improvements in healthcare infrastructure and economies will significantly improve the market share of Asia-Pacific and ROW region. ROW region accounted for 5% share in the global PERS market in 2013.

The dominant players involved in the global PERS market as of 2013 were
? Philips Lifeline
? Life Alert Emergency Response Inc.
? ConnectAmerica
? Valued Relationships, Inc. and
? Bay Alarm Medical
Which collectively occupied more than 60% of the market. This oligopolistic market structure has allowed availability of the PERS devices at a competitive pricing across the world.
However, with the technological advancements, the market is set to witness innovations that will lead to further development of affordable devices, thereby, changing the structure of the PERS market in the future.

Related Reports:
Medical Alert Systems Market (2014-2020): -By Type (Landline, Mobile, Standalone); By End User (Home, Senior Living Facilities, Assisted Living Facilities) & By Geography
http://industryarc.com/Report/98/medical-alert-devices-market.html

For More Market Reports:
http://industryarc.com/Domain/8/lifesciences-healthcare-market-research.html

About IndustryARC:
IndustryARC is a research and consulting firm that publishes more than 500 reports annually in various industries, such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Life sciences & Healthcare.
IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications of the Market. Our Custom Research Services are designed to provide insights on the constant flux in the global demand-supply gap of markets. Our strong analyst team enables us to meet the client research needs at a very quick speed with a variety of options for your business.
We look forward to support the client to be able to better address customer needs; stay ahead in the market; become the top competitor and get real-time recommendations on business strategies and deals. Contact us to find out how we can help you today.

For More Details Contact:
Mr. Venkat
Business Development Manager
Email: sales@industryarc.com
Phone: 1- 614-588-8538 (Ext-101/102)
http://www.industryarc.com
LinkedIn: http://www.linkedin.com/company/industryarc
Twitter: https://twitter.com/IndustryARC
Facebook: https://www.facebook.com/industryarc