PERS Market

Global PERS Market Size (2024 to 2032)

As per our analysis report, The size of the global personal emergency response systems (PERS) market was worth USD 4.29 billion in 2023. The global market is anticipated to grow at a CAGR of 5.3% from 2024 to 2032 and be worth USD 6.83 billion by 2032 from USD 4.52 billion in 2024. 

Current Scenario of the Global PERS Market

Personal emergency response systems (PERS) are medical devices where individuals call for medical help during an emergency. These devices are exceptionally innovative and contact the emergency care services or the other family members. Other than patient use during an emergency, these devices are also used for general purposes to ensure safety and security when living or traveling alone. Medical alert systems have a positive impact by providing the opportunity for action and promoting day or night access to the home care provider. Healthcare reforms are general rules used to address substantial development or improvements to health policy. For instance, under the Patient Protection and Affordable Care Act (PPACA), a growing number of people with health insurance coverage will increase demand for services and goods from the healthcare industry, such as drop detectors and medical alert systems.

MARKET DRIVERS

The growing awareness of self-care and increasing adoption of peninsula emergency response systems among chronic disease patients, as these devices help lead healthy and independent lives, are boosting the global PERS market growth.

The desire to live well with chronic conditions such as dementia and frailty drives the growth of this sector internationally by increasing the demand for social care services. However, these traditional systems are simplistic and do not help prevent and manage life. In addition, as the market for personal emergency response systems evolved from the securities market, maturity problems and extreme sales practices that do not bode well for long-term growth have also served as barriers to this market.

The growing geriatric population and the increasing prevalence of emergency care services propel the growth rate of the global PERS market.

As per the statistics provided by the World Health Organization (WHO), approximately 1.4 billion people will be over 60 years of age by 2030, which is also one person in every six people. The usage of PERS devices is more common among people aged as these provide security for the aged. The growing number of technologically well-advanced PERS devices entering the market is anticipated to boost the market's growth rate. In addition, the growing incidence of falls and accidents among aged and disabled people is expected to increase the need for PERS devices and promote market growth. Furthermore, factors such as increasing awareness among people regarding the personal emergency response systems, growing support and initiatives in favor of PERS from various governments, and rising disposable income are anticipated to showcase a favorable impact on the PERS market growth.

In addition, factors such as the rise in the use of various applications available in Android and IOS systems are propelling the growth of the personal emergency response systems market. Medical alert systems positively influence providing an opportunity by promoting day and night access to the home care provider. In addition, an increase in advanced technology offers better opportunities for the personal emergency response systems market growth.

MARKET RESTRAINTS

Concern about data security, lack of sufficient knowledge over the utilization of systems in rural areas, and high costs subjected to the manufacturing of a personal emergency response system are majorly limiting the growth of the PERS market. In addition, the death of skilled technicians monitoring the systems is challenging for the market players. Furthermore, the technical glitches, poor user experience, and availability of alternative devices are anticipated to showcase a negative impact on the growth of the PERS market worldwide. Furthermore, the presence of a stringent regulatory environment in some countries is predicted to impede market growth. The manufacturers of these devices must follow certain certifications and approvals for the marketing and commercializing these devices, which is eventually becoming time-consuming and costly for the manufacturers. Such factors are expected to inhibit the growth of the PERS market.

MARKET OPPORTUNITIES

Huge support from government authorities to improve healthcare facilities and provide proper emergency care services that can save the lives of many is attributed to showcasing huge growth opportunities for the PERS market. Adoption of sedentary lifestyles and lack of exercise due to hectic work schedules, especially among the urban population, are majorly leveraging heart-related issues. The surge in the number of heart attacks, even among young people, is ascribed to adopting the new changes in healthcare to respond accordingly to save a life.

• According to the New York State Department of Health, more than 695,000 deaths are due to heart attacks in the US, which is a major cause of 1 in every five deaths. 805,000 Americans have heart attacks every year.

The increasing rate of heart attacks across the world is a specific factor in improving the healthcare industry by adopting new and innovative technological developments like personal emergency response systems. The growing prevalence of responding immediately when the patient is ill, which can undoubtedly save their lives with the proper treatment at the right time, is gearing up for new opportunities for the PERS market.

The rising potential to meet the safety needs of the patients, monitor them, and respond within no time, especially for home care clients, is solely to elevate the growth rate of the PERS market. Increasing popularity of the use of this equipment among people, especially in both developed and developing countries where the need to take care of the patients at their homes by providing all the necessary healthcare equipment is likely to positively impact the growth rate of the market.

• According to the National Institutes of Health (NIH), many people depend on homecare services, which are quite safe and promote quality treatment procedures. More than 12 million people in America avail of these treatment options.

MARKET CHALLENGES

Though the personal emergency response system avails huge benefits for patients who need critical care at home, challenges like lack of complete awareness and rising concerns over privacy and safety are degrading the growth rate of the PERS market. This equipment is not appropriate for the mentally retarded patients as they are not aware what to do during the emergency incidents. This equipment does not prevent incidents like falls, and it gives an alarm for the care provider when the patient is in a critical situation.

The advanced featured equipment costs are very high, and common people cannot afford these, which is likely to degrade the growth rate of the market. The market key players are focusing on introducing the personal emergency response system that can be used among common people in the coming years, which may enhance the growth rate of the market.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global PERS Market Analysis By Type

The mobile-based segment holds the highest share of the PERS market. Smartphones that are connected to the internet have many advantages, especially in healthcare applications. As these devices are common in every corner of the world, the launch of various applications favorable to the patient’s healthcare is sophisticated to boost the growth rate of the market. The IT industry is making strong efforts to promote medical applications that help save lives during emergency situations like heart attacks, accidents, and others. These applications detect the user’s location and can easily dispatch emergency care units accordingly. Mobiles are becoming a weapon to save a life in this modern generation. Many applications have been approved by the government for the safe use of patients who are highly secure from cyber-attacks.

The based segment is likely to have a prominent growth rate in the PERS market. When the client sends an alarm, the unit tries to communicate with the person and then immediately sends the caregivers, family, or staff, irrespective of time. An increasing number of individual people who need emergency care due to chronic illnesses shall leverage the growth rate of the market. According to various studies, 4 in 5 adults prefer to seek emergency care services through emergency response systems due to increasing incidences of heart-related issues that are responsible for the cause of death at young ages. Rising government campaigns to be aware of emergency situations are adding fuel to the growth rate of the market.

Global PERS Market Analysis By End User

The home-based users segment held the largest share in the past few years, whereas senior living facilities are more likely to have the fastest growth opportunities in the next coming period. These devices connect the client and responder at any time. The growing geriatric population, where there is a high need for home care health services, especially for those who are far from their children or relatives, is likely to drive the growth rate of the market.

• According to the World Health Organization (WHO), 28% of the total population in China, which is 402 million people, will be of age above 60.

In urban areas, many elderly people are more likely to stay in senior living facilities due to comfort and a peaceful life. These facilities provide healthcare that helps them lead a happy life with the essential needs required at that time. Senior citizens are promptly making plans to live a healthy and happy life without depending on other people, and these facilities are specially curated to assist medical care with highly advanced treatment procedures.

REGIONAL ANALYSIS

Regionally, North America is estimated to lead the global market during the forecast period. The increasing acquisition of personal emergency response systems and the growing elderly drive the North American PERS Market. Falls are the most prevalent cause of injury among the elderly. The American Hospital Association has announced that more than one-third of adults aged 65 and above suffer from a fall each year, leading to several other chronic and severe concerns for older people. The U.S. PERS market is likely to have the highest share in the global 2023 and is estimated to rise with a CAGR of 4.51% during the forecast period. The rise in chronic and technological advancements in healthcare industries is boosting the market. For instance, the Centers for Disease Control and Prevention (CDC) has stated that, in 2017, more than 50% of all adults in the U.S. had one or two chronic diseases, and 25% suffered from two or more chronic diseases. The Canadian market is expected to lead the North American PERS market over the forecast period.

Europe follows North America in holding dominant market shares during the forecast period. The rise in smartphones or wireless phones and technological advancements drive the European market. Moreover, the growing number of chronic diseases is boosting the market. For instance, according to the Swedish Agency for Health and Care Services Analysis, in 2014, almost 50 million adults were suffering from multiple chronic diseases in Europe; in the case of Sweden, about 44% of the population have one chronic disease, and 25% population have two or more. In addition, the countries' growing awareness and favorable reimbursement policies propel the European PERS Market.

The Asia Pacific is predominantly increasing in terms of market share during the forecast period. The increasing awareness among people about PERS and the rise in technological advancements drive the market. Moreover, the rising economy in countries like India, China, and Japan is boosting the market. Furthermore, the easy government policies attract pharmaceutical companies to invest in the Asia Pacific. In addition, a high population is expanding the Asia Pacific PERS Market.

Latin America is driven by various factors like the popularity of home healthcare, a high number of chronic/ acute diseases, increasing average life expectancy, and growing public and private sector participation in healthcare services. In addition, improving healthcare infrastructure, widespread adoption of smart devices, and easy availability of personal emergency response devices play a critical role in the market's growth.

The market in MEA is expected to be driven by the prevalence of chronic diseases such as dementia, cardiovascular diseases, and other illness among people across the region. Also, the growing geriatric population is significantly influencing the demand for the MEA market. In addition, the technological advancement for developing various devices and techniques with innovative devices, the growing application, and the benefits associated with the PERS are increasing the demand for the systems in the market. 

KEY PLAYERS IN THE GLOBAL PERS MARKET

The list of significant players playing a dominating role in the Global PERS Market profiled in this report is ADT Corporation, Life Guardian Technologies LLC, Koninklijke Philips N.V., Tunstall Healthcare Group Ltd, Bay Alarm Medical Company, Philips Electronics N.V., Alert One Services LLC, Medical Guardian LLC.

RECENT HAPPENINGS IN THE MARKET

• In 2024, Medical Guardian and MobileHelp partnered together to make a huge difference in promoting the most advanced healthcare solutions, especially for seniors. These companies are focusing on ensuring the safety, engagement, and capabilities that can be provided to more than 600,000 active members through services like PERS, remote patient monitoring, and healthcare engagement services. Sixty million people in America aged above 60 years are leading happy and independent lives through these intuitive solutions.
• In February 2023, Beckler, a company that provides connected safety solutions, teamed up with Sunnova Energy International, Inc., an EaaS company from the United States, to provide better safety to their workers who work alone in hazardous locations.

DETAILED SEGMENTATION OF THE GLOBAL PERS MARKET INCLUDED IN THIS REPORT

This research report on the global PERS market has been segmented based on the type, end-user, and region.

By Type

• Mobile Based
• Landline Based
• Standalone

By End User

• Home-Based Users
• Senior Living Facilities
• Assisted Living Facilities
• Others

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• The Middle East and Africa