Medical Alert System Market To Register Strong Growth in 2018–2023
The global medical alert system market is expected to gain a positive CAGR in the forthcoming period. Medical alert systems are the form of wearable devices that monitor shift in blood pressure to automatically sense the whereabouts of a user. In case of a fall, the device connects to mobile to call for any help during emergency.
Technically, a medical alert system is designed to indicate the presence of any hazard that needs urgent attention and medical response. Conventional systems have a wireless pendant with a transmitter destined to be activated during emergency. When a medical alert is triggered, the signal is forwarded to alarm monitoring company’s primary station and any other emergency stations that need to summon medical emergency.
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Medical Alert system market is driven by factors such as increase in medical innovations and super specialty hospitals that encompass alert system. Alert systems in medical institutions help patients by enabling them with a push pull device as an indication to serve them with medical needs. On the other hand, alert systems trigger the safety devices installed at various departments to alert any emergency/ies.
Geographical segmentation for medical alert system includes North America, Latin America, Europe, Asia-Pacific, Middle East and Africa. North America is expected to dominate the market in the forecast period due to rise in medical innovation and need for constant medical upgrades. Apart, effective mergers and rising incidences of Alzheimer’s disease is expected to boost the market growth during the forecast period.
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Asia-Pacific’s market is likely to gain a significant CAGR in the forecast period due to constant upgrades in technology and rise in use of peer-to-peer systems and rise in geriatric population. Standardization of network is likely to contribute to the market growth in the near future leading to market development. The key players in the medical alert system market include ADT, Philips Lifeline, Tunstall, Greatcall, Alert-1, Bay Alarm Medical, LifeAlert, Connect America, Mobile Help, and Rescue Alert.
The report segments the market and forecasts its size, by volume and value, on the basis of product, by application, and by geography (North America, Europe, Asia-Pacific, MEA and South America).
The report covers forecast and analysis for the medical alert system market on a global and regional level. The study provides historic data of 2013–2017 along with a forecast from 2018 to 2023 based on both output/volume and revenue. The study then describes the drivers and restraints for the medical alert system market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the medical alert system market on a global level.
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