PERS Market

Global PERS Market Size (2024 to 2029)

As per our analysis report, the size of the global personal emergency response systems (PERS) market was valued at USD 4.52 billion in 2024. The market size is predicted to reach USD 5.86 billion by the end of 2029, registering a CAGR of 5.3% from 2024 to 2029.

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.

Impact of COVID-19 on the Global PERS Market

The Covid 19 is a contagious disease caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). The WHO has declared COVID-19 a Pandemic. COVID-19 has impacted all sectors in its way. Even the global economy got hit negatively during the pandemic. Due to the strict implementation of the lockdown, almost all industries got shut down and adversely impacted. In parallel, some industries saw favorable growth, irrespective of the pandemic. The Personal Emergency Response Systems (PERS) market was negatively affected during the pandemic. The lockdown led the factories to shut down, and the production of the devices was paused.

Moreover, the supply chain system was disturbed due to the lack of transportation mobility, which hindered the market. But in parallel to that, post-lockdown had led the market to grow instantly. Due to COVID-19, hospitals are at high risk for older people. All the non-covid patients are looking over telemedicine with PERS to stay connected with emergency response centers anytime. These factors led to the Personal Emergency Response Systems (PERS) market post covid. However, considering the declining impact of COVID-19 and increasing habituation towards the new normalization, the market for PERS is expected to recover in no time and post a healthy CAGR in the coming years.

REPORT COVERAGE

SEGMENTAL  ANALYSIS

Global PERS Market Analysis By Type

Based on type, the mobile PERS segment contributed significantly to the global personal emergency response systems market and held the largest share of the worldwide market in 2023. The increasing usage of smartphones among the elderly and growing demand for best-in-class devices for patients like GPS, wireless, and 3G cellular are propelling the segment's growth rate. In addition, the convenience and user-friendliness, such as worn on the wrist and carried in pockets associated with the mobile PERS, further boost the segment's adoption and growth rate.

Global PERS Market Analysis By End User

Based on end-user, the home-based users have the most substantial revenue globally, operated through mobile and landline telephones, the largest revenue-yielding segment in the PERS market. As a result, assisted living facilities are expected to have the fastest growth rate during the forecast period.

REGIONAL ANALYSIS

Regionally, The PERS Market in 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.

The PERS Market in 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 PERS market in 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.

The PERS market in 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 PERS 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 PERS 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 MARKET PARTICIPANTS

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 MARKET DEVELOPMENTS

• 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.
• In December 2019, a new wireless revolutionary nurse call system was introduced by Tunstall Healthcare, which has already supported many patients across Europe. It is designed to deliver effective patient care.
• In October 2019, I-View, a video alarm service, was acquired by ADT. It is the right home provider that serves residential and business customers. I-View is used to decrease false alarms and make the most effective use of significant emergency services reactions.

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