Medical Alert Systems Market Analysis

Global Medical Alert Systems Market Overview

Medical Alert Systems Market Size was valued at USD 6.80 billion in 2022. The Medical Alert Systems market industry is projected to grow from USD 7.21 Billion in 2023 to USD 11.54 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.9% during the forecast period (2023 - 2032). 

Rising prevalence of chronic diseases, and increasing demand for point-of-care testing are the key market drivers enhancing the market growth.

Source Secondary Research, Primary Research, MRFR Database and Analyst Review 

IQVIA™ founded a strategic partnership in October 2023, a prominent global provider of advanced analytics, clinical research services, and technology solutions to the life sciences industry with Argenx. They intend to enhance treatment for individuals having rare auto-immune diseases by employing progressive as well as all-inclusive know-how fueled pharmacovigilance (PV) safety programs and platforms.

In September 2023, Mayo Clinic and GE Healthcare announced a strategic collaboration in healthcare. This joint venture consists of research and product development initiatives aimed at revolutionizing patient experience as well as radiology practice for doctors administering complex treatments.

In September 2023, Atropos Health announced its recent strategic funding round, which is famous for providing evidence-based healthcare innovations like the Green Button Clinical Informatics Consult Service. The funds came from investors such as Presidio Ventures (the venture arm of Sumitomo Corporation Venture Group), Samsung Next (a venture arm of Samsung Electronics), Gaingels, and Audere Capital, among others. Atropos Health has this financial support it will use to target commercialization beyond the U.S., leveraging its unique technology and business models. Key clients will initially be in Japan and Brazil.

WellBe is a voice-enabled digital health assistant platform that HandsFree Health launched in May 2023 aimed at supporting effective management of old-age patients' health conditions. With WellBe's introduction comes a carefully planned response to the growing demand for simple-to-use healthcare tools. According to the company's vision statement, WellBe seeks to make older adults enjoy better access and convenience when managing their health through the use of voice technologies.

In January 2023, Ford partnered with HSC Falls Call Solutions, launching a medical alert system in Australia that helps older patients better than before." This partnership allows seniors throughout Australia to receive support no matter where they are situated, hence promoting security and serenity

In April 2022, Advocate Aurora Health's investment division completed the acquisition of MobileHelp, a leading manufacturer of medical alert systems. This strategic move positions Advocate Aurora Health to broaden its portfolio and strengthen its capabilities in delivering healthcare services, especially remote patient monitoring and emergency response solutions.

Medical alert systems are improved medical gadgets that provide an immediate and more dependable means for elderly people and individuals with health difficulties to contact emergency medical personnel. Additionally, medical alert systems have an assistance button that users can press to contact a live representative at an emergency response center. The growing geriatric population, innovations in healthcare wearable devices, increasing penetration of smart cell phones in the healthcare sector, and regular changes in technology, as well as the ease of flexibility of PERS instruments, are all contributing to the requirement for individual crisis response operation management, which is accelerating the growth of medical alert systems. Due to several factors, the sector is anticipated to grow during the predicted period.

Modern medical alert systems also include GPS-based mobile devices, cellular alternatives for users to use while on the go, and features that automatically send an alarm if a fall is detected. In addition, the traditional medical alert system has a base unit and an external help button that a user can put on around the house. The aging population, technological advancements in wearable healthcare devices, the growing use of smartphones in healthcare, ongoing technological advancements, and the PERS devices' ease of adaptability are the driving forces behind the growth of the health alert system emergency response system market. As the number of seniors increases, medical alert systems have become more common. The main purpose of personal emergency response systems (PERS) is to enable the elderly and people with disabilities to quickly summon assistance in an emergency.

The global market for medical alert systems is expanding quickly due to growing awareness of the value of ongoing self-health monitoring. An important sign of this trend would be the rising use of mobile alert systems in the global market for medical alert systems. Intense manufacturer rivalry in the global market for medical alert systems and an uptick in large-scale procurement of these systems through GPOs and INHs could limit growth in the years to come.

To introduce iPhone and Android-based health alert systems in Australia, FallCall Solutions and HSC Technology Group have announced their international partnership. This partnership will integrate the FallCall application on a user's iPhone or Android device with the HSC Talius Smart Care System and subsequent-generation Bluetooth medical alert devices. The medical alarm will launch an assistance call when a fall is detected. This call can link the user's mobile phone to 24-hour response partners nationwide. Help will be deployed, if necessary when the situation is assessed.

Medical Alert Systems Market Trends

• Increasing aging population to boost market growth

With the aging population on the rise, the demand for medical alert systems is expected to increase, as these systems allow older adults to remain independent and age in place. The incidence of chronic diseases such as diabetes, heart disease, and hypertension is increasing, leading to a greater need for medical alert systems to manage these conditions and alert healthcare providers in case of emergencies.

Medical alert systems are becoming more advanced, with features such as fall detection, GPS tracking, and integration with smartphones and other devices. This is making these systems more user-friendly and increasing their adoption among older adults. As more people become aware of the benefits of medical alert systems, there is a growing acceptance and adoption of these devices, which is expected to drive the growth of the market. Government policies and initiatives to support aging in place and improve access to healthcare services are also expected to contribute to the growth of the medical alert systems market. The Medical Alert Systems market is poised for significant growth in the coming years, driven by demographic, technological, and societal factors, as well as supportive government policies.

Medical Alert Systems Market Segment Insights

Medical Alert Systems System Type Insights

The Medical Alert Systems market segmentation, based on system type, includes Personal Emergency Response Systems (PERS), Nurse Call Systems (NCS), Ambulatory Auto Alert Systems, Automated Airborne Flight Alert System, and Smart Belt. The Personal Emergency Response Systems (PERS) segment dominated the market in 2022 and is projected to be the faster-growing segment during the forecast period, 2023-2032. PERS devices are becoming more advanced, with features such as fall detection, GPS tracking, and integration with smartphones and other devices. This is making these systems more user-friendly and increasing their adoption among older adults.

June 2020 The acquisition of Tunstall Americas by Connect America. This acquisition allowed Connect America to expand its PERS offerings and strengthen its position in the market. With the addition of Tunstall Americas' products and services, Connect America is able to offer a wider range of PERS devices, including mobile and home-based systems, as well as remote patient monitoring solutions. This acquisition is expected to help Connect America better serve its customers and accelerate its growth in the PERS market.

Medical Alert Systems Offering Insights

The Medical Alert Systems market data has been bifurcated by offering into Hardware, Software, and Services. The hardware segment dominated the market in 2022 and is projected to be the faster-growing segment during the forecast period, 2023-2032. Advances in hardware technology have led to the development of more advanced medical alert systems that are more reliable, accurate, and user-friendly. These advancements include improvements in sensor technology, battery life, and wireless connectivity. 

Figure 2 Medical Alert Systems Market, by Offering, 2022 & 2032 (USD Billion)

Source Secondary Research, Primary Research, MRFR Database and Analyst Review

The trend towards aging in place has led to an increasing demand for home-based medical alert systems. These systems typically consist of a base unit and one or more wearable or stationary devices, all of which rely heavily on hardware technology. Health-Alert (Canada) is pleased to introduce its cutting-edge medical alert service, providing elders and people with unique safety options. Health-Alert's expansion of its services to citizens across Ontario, Canada, as a dependable provider improves the lives of persons looking for dependable emergency support. Health-Alert (Canada) knows how crucial it is to act quickly in emergencies. With our state-of-the-art technology, people may live freely with confidence, knowing that help is only a button push away.

Medical Alert Systems Regional Insights

By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. North America Medical Alert Systems market accounted for USD 3.11 billion in 2022 and is expected to exhibit a significant CAGR growth during the study period. The North American market for Medical Alert Systems is the largest, owing to the high adoption rate of advanced technology and the increasing aging population. The United States and Canada are the key markets in the region, with a significant number of market players operating in these countries. Further, the US Medical Alert Systems market held the largest market share, and the Canada Medical Alert Systems market was the fastest growing market in the North American region.

Further, the major countries studied in the market report are The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3 Medical Alert Systems Market Share By Region 2022 (%)

Source Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe Medical Alert Systems market accounts for the second-largest market share. The European market for Medical Alert Systems is expected to witness significant growth due to the presence of a large aging population, increasing government initiatives to support aging in place, and increasing technological advancements in the field. The United Kingdom, Germany, France, and Italy are among the key markets in the region.

The Asia-Pacific Medical Alert Systems market is expected to grow at the fastest CAGR from 2022 to 2030. The Asia-Pacific market for Medical Alert Systems is expected to witness the highest growth rate due to the increasing aging population, rising prevalence of chronic diseases, and increasing awareness and adoption of medical alert systems. China, Japan, and India are the key markets in the region. Moreover, China Medical Alert Systems market held the largest market share, and the India Medical Alert Systems market was the fastest growing market in the Asia-Pacific region.

Medical Alert Systems Key Market Players & Competitive Insights

Major market players are spending a lot of money on R&D to increase their product lines, which will help the Medical Alert Systems market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Medical Alert Systems industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

One of the primary business strategies adopted by manufacturers in the Medical Alert Systems industry to benefit clients and expand the market sector is to manufacture locally to reduce operating costs. In recent years, Medical Alert Systems industry has provided innovative products with some of the most significant benefits. The Medical Alert Systems market major player such as Koninklijke Philips NV (Philips) (Netherlands), ADT (US), AlertONE Service Inc. (US), Bay Alarm Medical (US), GreatCall (US), Life Alert Emergency Response Inc. (US), LogicMark (US), Medical Guardian LLP (US), Nortek Security and Control (US), Rescue Alert (US), and others are working to expand the market demand by investing in research and development activities.

Koninklijke Philips NV (Philips) is a Dutch multinational conglomerate that operates in the healthcare, lighting, and consumer lifestyle industries. The company is headquartered in Amsterdam and has operations in over 100 countries worldwide. In the healthcare industry, Philips focuses on developing and manufacturing a wide range of medical devices, equipment, and services. The company offers medical alert systems under its Lifeline brand, which includes a range of wearable and home-based medical alert devices. In April 2021, Philips launched a new medical alert system called Lifeline Solo. The device is a mobile personal emergency response system that provides users with access to emergency assistance at the press of a button, wherever they go. The device uses cellular technology to connect users with a 24/7 monitoring center, where trained operators can dispatch emergency services or contact designated family members or caregivers.

ADT is a leading provider of security and automation solutions in the United States and Canada. The company offers a range of products and services, including home security systems, smart home automation, and medical alert systems. In the medical alert systems market, ADT offers a product called ADT Health, which is a suite of medical alert devices and services designed to help seniors and other individuals with medical conditions to live independently and safely at home. In June 2020, ADT announced the launch of a new medical alert device called the ADT On-The-Go Medical Alert System. The device is a mobile personal emergency response system that provides users with access to emergency assistance wherever they go, using cellular technology.

Key Companies in the Medical Alert Systems market includes

• Koninklijke Philips NV (Philips) (Netherlands)


• ADT (US)


• AlertONE Service Inc. (US)


• Bay Alarm Medical (US)


• GreatCall (US)


• Life Alert Emergency Response Inc. (US)


• LogicMark (US)


• Medical Guardian LLP (US)


• Nortek Security and Control (US)


• Rescue Alert (US)

Medical Alert Systems Industry Developments

October 2020 - MobileHelp acquires Halo Monitoring, expanding its medical alert device offerings.

December 2020 - Philips acquires BioTelemetry, a leading provider of remote cardiac monitoring services.

January 2021 - Medical Alert acquires Rescue Alert, expanding its customer base and product offerings.

March 2021 - Life Alert introduces new medical alert device called Life Alert HELP Button.

April 2021 - Philips launches new mobile medical alert device called Lifeline Solo.

Medical Alert Systems Market Segmentation

Medical Alert Systems System Type Outlook

• Personal Emergency Response Systems (PERS)


• Nurse Call Systems (NCS)


• Ambulatory Auto Alert Systems


• Automated Airborne Flight Alert System


• Smart Belt

Medical Alert Systems Offering Outlook

• Hardware


• Software


• Services

Medical Alert Systems Connection Type Outlook

• Wired


• Wireless

Medical Alert Systems Technology Outlook

• Two-Way Voice Systems


• Unmonitored Medical Alert Systems


• Medical Alert Alarm (Button) System


• IP-Based Systems

Medical Alert Systems Application Outlook

• Home-Based Users


• Senior Living Facilities/Senior Care Centers


• Assisted Living Facilities

Medical Alert Systems Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America