Medical Emergency Response System Market Scope
Medical Emergency Response Systems, also known as Personal Emergency Response Systems (PERS), allow to call for help in an emergency with the push of a button. PERS consists of three parts: a small radio transmitter, a console connected to a telephone, and an emergency call monitoring center. The system has a wireless transmitter built into a bracelet, wrist, belt or pendant that can be activated in an emergency. In addition, increasing geriatric population and favourable healthcare policies as well as technological advancements in medical alarm systems have led to the growth of the market.
|Unit||Value (USD Million)|
|Key Companies Profiled||Koninklijke Philips N.V. (Netherlands), Connect America LLC (United States), Medical Guardian (United States), Bay Alarm Medical (United States), MobileHelp, LLC (United States), LifeStation, Inc. (United States), ADT Corporation (United States), LifeFone (United States), Tunstall Healthcare (United Kingdom) and ResponseNow Medical Alert Systems (United States)|
Major players have adopted various strategies such as product portfolio expansion, mergers and acquisitions, geographic expansion, agreements, and collaborations to increase their market share and strengthen their foothold in the industry. For instance, in February 2021, Connect America collaborated with Urban Health Plan, a program of US health centers, to provide remote patient monitoring services to patients in the Bronx, Queens and Manhattan.
Koninklijke Philips N.V. (Netherlands), Connect America LLC (United States), Medical Guardian (United States), Bay Alarm Medical (United States), MobileHelp, LLC (United States), LifeStation, Inc. (United States), ADT Corporation (United States), LifeFone (United States), Tunstall Healthcare (United Kingdom) and ResponseNow Medical Alert Systems (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are AlertOne Services Inc. ((United States) and Valued Relationships, Inc. (United States).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
The study have segmented the market of Global Medical Emergency Response System market by Type and Region with country level break-up.
On the basis of geography, the market of Medical Emergency Response System has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). region held largest market share in the year 2022.
In April 2021, Medical Guardian launched its latest medical alert system, the Mini Guardian, its smallest mobile medical alert system and In January 2019, Koninklijke Philips launched a new application platform called Philips Care, which stores and manages many documents related to routine checks and follow-ups for the elderly
The International Council for Harmonisation of Technical Requirements for Pharmaceuticals for Human Use (ICH) is unique in bringing together the regulatory authorities and pharmaceutical industry to discuss scientific and technical aspects of pharmaceuticals and develop ICH guidelines. Furthermore, the National Regulatory Authority (NRA) of India is regulated by the Central Drugs Standard Control Organisation (CDSCO) under Directorate General of Health Services, Ministry of Health & Family Welfare, and Government of India.
Influencing Trend:Technological Advancement in Wearable Devices
Market Growth Drivers:Increasing Prevalence of Chronic Diseases among the Elderly Population and Rapid Penetration of Iot and AI
Challenges:Disruptions in Supply Chain in Developing Countries
Restraints:Stringent Regulatory Process and Increased Testing Requirement for Product Approval
Opportunities:Increasing Government Investment in the Healthcare Industry
Key Target AudienceHealthcare Providers, Hospitals and Physician Offices, Manufacturers and Distributors, Research and Development Institutes, Market Research & Consulting Firms, Potential Investors, End Users and Others