Market Overview:
The global medical alarm system market is expected to grow at a CAGR of 7.5% from 2018 to 2030. The growth in the market can be attributed to the increasing prevalence of chronic diseases, growing geriatric population, and rising demand for home healthcare services. In addition, technological advancements in medical alarm systems are also contributing to the growth of the market. The global medical alarm system market is segmented on the basis of type, application, and region. On the basis of type, the market is segmented into landline type, mobile type, and standalone type. The landline type segment dominates the global medical alarm system market owing to its low cost and easy installation as compared to other types of medical alarms systems available in the market. However, with increasing adoption of smartphones globally coupled with technological advancements such as cloud-based solutions that allow users remote access through their smartphones or tablets;the mobiletype segment is expectedto witness highgrowth duringthe forecast period .
Product Definition:
A medical alarm system is a type of emergency response system that is used to summon help for people who are experiencing a health emergency. These systems can be used in the home or in other settings, such as hospitals, nursing homes, and assisted living facilities. They typically consist of one or more devices that are worn by the person who needs assistance, such as a pendant or wristband, and a base unit that is connected to a telephone line. When the person wearing the device experiences an emergency, they press a button on the device to send an alarm signal to the base unit.
Landline Type:
The global landline type market size was valued at USD 2.1 billion in 2015 and is expected to grow at a CAGR of XX% over the forecast period due to its increasing demand across the globe especially for medical emergencies. The growing need for improved emergency response systems has led to an increase in investments by various governments and private firms, which is further anticipated to boost growth over the coming years.
Mobile Type:
Mobile type is a medical device used to diagnose and treat patients. It is also known as the hospital in a box, which can be transported from one place to another within the hospital premises. The mobile type equipment are of two types: fixed and portable. Portable devices include beds, trolleys, wheelchairs or stretchers; these are movable within the premises of a healthcare facility only on designated routes and only by authorized personnel with proper documentation.
Application Insights:
The home-based users application segment held the largest share of over 60.0% in 2017. The growing usage of medical alert systems at home is anticipated to be a major factor driving the segment growth over the forecast period. Home healthcare has become an integral part of modern healthcare and most patients prefer to have a medical alert system at their homes, which can be activated by family members in case of emergency.
Medical alerts systems are also used in senior living facilities, assisted living facilities and other similar residential care facilities for emergencies that require immediate attention from doctors or rescue personnel during non-working hours or weekends & holidays when there is no response from landline phones or mobile phones.
Regional Analysis:
North America dominated the global market in 2017. The region is expected to maintain its position during the forecast period. This can be attributed to increasing cases of chronic diseases, growing geriatric population, and rising healthcare expenditure in this region. Moreover, a rise in preference for home-based medical monitoring systems is also expected to drive growth over the forecast period.
Asia Pacific regional market captured significant revenue share owing to factors such as improving healthcare infrastructure and economic development in emerging countries like China.
Growth Factors:
- Increasing geriatric population: The global geriatric population is expected to grow at a CAGR of 6.5% from 2016 to 2020, owing to the increase in life expectancy and the growth in the number of people aged 65 years and above. This will result in an increased demand for medical alarm systems, as these systems provide safety and security for elderly people living alone or with limited mobility.
- Rising incidence of chronic diseases: The prevalence of chronic diseases such as heart disease, stroke, cancer, and diabetes is increasing globally due to changing lifestyles and aging populations. This is leading to an increased demand for medical alarm systems as they can help manage these conditions effectively by providing timely alerts and support services when needed.
- Proliferation of smart home technologies: Smart home technologies are becoming increasingly popular due to their ability to improve convenience, comfort, security, and energy efficiency in homes. Medical alarm systems are one such type of smart technology that can be integrated into homes easily and provide peace-of-mind by monitoring health conditions round-the-clock .
Scope Of The Report
Report Attributes
Report Details
Report Title
Medical Alarm System Market Research Report
By Type
Landline Type, Mobile Type, Standalone Type
By Application
Home-Based Users, Senior Living Facilities, Assisted Living Facilities
By Companies
Philips Lifeline, ADT, Tunstall, Greatcall, Alert-1, Connect America, Bay Alarm Medical, Life Alert, Rescue Alert, Mobile Help, Philips Lifeline, LifeStation, Galaxy Medical Alert Systems, Lifefone, Better Alerts
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
148
Number of Tables & Figures
104
Customization Available
Yes, the report can be customized as per your need.
Global Medical Alarm System Market Report Segments:
The global Medical Alarm System market is segmented on the basis of:
Types
Landline Type, Mobile Type, Standalone Type
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Home-Based Users, Senior Living Facilities, Assisted Living Facilities
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Philips Lifeline
- ADT
- Tunstall
- Greatcall
- Alert-1
- Connect America
- Bay Alarm Medical
- Life Alert
- Rescue Alert
- Mobile Help
- Philips Lifeline
- LifeStation
- Galaxy Medical Alert Systems
- Lifefone
- Better Alerts
Highlights of The Medical Alarm System Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Landline Type
- Mobile Type
- Standalone Type
- By Application:
- Home-Based Users
- Senior Living Facilities
- Assisted Living Facilities
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Medical Alarm System Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A medical alarm system is a type of security system that can be used to notify emergency personnel when an individual with a medical condition has been detected.
Some of the major companies in the medical alarm system market are Philips Lifeline, ADT, Tunstall, Greatcall, Alert-1, Connect America, Bay Alarm Medical, Life Alert, Rescue Alert, Mobile Help, Philips Lifeline, LifeStation, Galaxy Medical Alert Systems, Lifefone, Better Alerts.
The medical alarm system market is expected to register a CAGR of 7.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Medical Alarm System Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Medical Alarm System Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Medical Alarm System Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Medical Alarm System Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Medical Alarm System Market Size & Forecast, 2020-2028
4.5.1 Medical Alarm System Market Size and Y-o-Y Growth
4.5.2 Medical Alarm System Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Landline Type
5.2.2 Mobile Type
5.2.3 Standalone Type
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Home-Based Users
6.2.2 Senior Living Facilities
6.2.3 Assisted Living Facilities
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Medical Alarm System Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Medical Alarm System Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Landline Type
9.6.2 Mobile Type
9.6.3 Standalone Type
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Home-Based Users
9.10.2 Senior Living Facilities
9.10.3 Assisted Living Facilities
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Landline Type
10.6.2 Mobile Type
10.6.3 Standalone Type
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Home-Based Users
10.10.2 Senior Living Facilities
10.10.3 Assisted Living Facilities
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Landline Type
11.6.2 Mobile Type
11.6.3 Standalone Type
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Home-Based Users
11.10.2 Senior Living Facilities
11.10.3 Assisted Living Facilities
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Landline Type
12.6.2 Mobile Type
12.6.3 Standalone Type
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Home-Based Users
12.10.2 Senior Living Facilities
12.10.3 Assisted Living Facilities
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Landline Type
13.6.2 Mobile Type
13.6.3 Standalone Type
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Home-Based Users
13.10.2 Senior Living Facilities
13.10.3 Assisted Living Facilities
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Medical Alarm System Market: Competitive Dashboard
14.2 Global Medical Alarm System Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Philips Lifeline
14.3.2 ADT
14.3.3 Tunstall
14.3.4 Greatcall
14.3.5 Alert-1
14.3.6 Connect America
14.3.7 Bay Alarm Medical
14.3.8 Life Alert
14.3.9 Rescue Alert
14.3.10 Mobile Help
14.3.11 Philips Lifeline
14.3.12 LifeStation
14.3.13 Galaxy Medical Alert Systems
14.3.14 Lifefone
14.3.15 Better Alerts
