February 2024
08 Sep 2024
The global medical alert systems market revenue was valued at USD 8.31 billion in 2023 and is poised to grow from USD 9.24 billion in 2024 to USD 24.01 billion by 2033 at a CAGR of 11.2% during the forecast period 2024 - 2033. The increasing geriatric population, especially in developed countries, is expected to drive the growth of the medical alert systems market.
The medical alert systems market deals with devices that are designed to call for help in conditions of medical emergency. These systems include wearable devices, such as bracelets or pendants, with a button that the consumer can press to inform a monitoring center. When the button is pressed, the monitoring center gets a notification, and trained personnel can dispatch appropriate help and assess the situation, such as for emergency family members or medical services.
The rising strong focus on financial assistance, growing favorable healthcare policies, and increasing prevalence of chronic diseases such as diabetes and heart diseases are estimated to drive the growth of the market. In addition, continuous innovations such as connectivity options, GPS tracking, and improved sensors are anticipated to enhance the growth of the medical alert systems market during the forecast period.
Quick response time and increased independence to fuel the market growth.
One of the major advantages of a medical alert system is that it offers quick response times in the situation of a medical emergency. When users press their device button, they can immediately connect with an emergency response center, which can dispatch emergency services if essential. This emergency service can be especially crucial in conditions where every second counts, such as in the situation of a heart attack or stroke.
In addition, the fear of facing or falling into a medical emergency for many individuals can limit their ability and independence to live life on their own terms. A medical alert system can help seniors feel more secure and confident in their capability to live with minimal assistance or alone, knowing that help and better services are just one press away. These are the major factors expected to drive the growth of the medical alert systems market.
However, security and privacy concerns about medical alert systems may restrain the growth of the market. Security and privacy are major concerns when it comes to pairing devices with others and connecting a device to home internet networks in more high-tech setups. At the same time, there are no major studies and violation cases connected to medical alert devices. These medical alert systems are always associated with high-cost setups. Depending on the user’s budget, medical alert systems cannot be an investment users are willing or able to make. In addition, there is always the risk of false alarms in medical alert systems. These cause unwanted team responses and extra fees, as well as heightened stress for family members. These are some major hindering factors that may restrain the growth of the medical alert systems market.
| Report Attribute | Key Statistics |
| Market Revenue in 2024 | USD 9.24 Billion |
| Market Revenue by 2033 | USD 24.01 Billion |
| Market CAGR | 11.2% from 2024 to 2033 |
| Quantitative Units | Revenue in USD million/billion, Volume in units |
| Largest Market | North America |
| Base Year | 2023 |
| Forecast Period | 2024 to 2033 |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Recent Innovation in the Medical Alert Systems Market by KORE
Recent Innovation in the Medical Alert Systems Market by FallCall
Asia Pacific is expected to grow fastest during the forecast period. The growing awareness of healthcare solutions, increasing prevalence of chronic diseases such as cardiovascular diseases and diabetes, and rising geriatric population are expected to enhance the growth of the medical alert systems market in Asia Pacific. Healthcare providers and governments in the region are emphasizing the importance of remote patient monitoring, and elderly care is further anticipated to propel the market growth. In addition, increasing disposable income, improving healthcare infrastructure, and growing advancements in technology further contributed to the market growth.
China, India, Japan, and South Korea are the major leading countries in the Asia Pacific region. China and India have the fastest-growing market and have the largest market share. In India, Ruxum is a wearable with medical emergency service alerts. Indian medical alert systems manufacturers designed advanced devices such that when consumers need help, their emergency contacts can be notified and alerted through app-based notifications like WhatsApp messages and SMS with the help press of only one button. These factors contributed to the growth of the market in the Asia Pacific region.
North America dominated the medical alert systems market in 2023. The rising advanced healthcare infrastructure, increasing awareness of healthcare solutions, and rapidly growing geriatric population are expected to drive the growth of the market in North America. In addition, increasing approaches to safety and health, rising favorable reimbursement policies, and rising development of technological innovations further contributed to the growth of the market.
The U.S. and Canada are the major countries and have the largest share of this market. U.S. medical alert system companies provide highly authentic emergency response centers. The major specialty of U.S. manufacturers is that if one center were to go offline, the other emergency entre would offer immediate backup coverage. These are the major factors that contributed to the growth of the medical alert systems market in North America.
Infrastructure development enhances the adoption of medical alert systems
The rising development of infrastructure is improving the adoption of medical alert systems. Developed infrastructure means greater communication networks, contributing to wider coverage and faster response times for medical alert signals. Expanded transportation facilities and routes also enhance timely access to healthcare solutions, making medical alert systems more important for underserved and remote areas.
Development in infrastructure may also contribute to the adoption of advanced technologies, such as smart sensors and GPS tracking, enhancing the effectiveness and functionality of medical alert systems in responding to and monitoring medical emergencies. These opportunities are expected to accelerate the growth of the medical alert systems market in the coming years.
Market Segmentation
By Type
By Technology
By Application
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