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Personal Emergency Response System (PERS) Market to Grow at 5.8% through 2020 as Preference for Assisted Living Increases

According to a new market research report “Personal Emergency Response Systems (PERS) Market Analysis: By Type (Landline-based PERS, Mobile PERS and Standalone Devices); By End Users (Home-based, Senior Living Facilities and Assisted Living Facilities)- With Forecast (2015-2020)”. Personal Emergency Response Systems (PERS) Market is projected grow at a healthy CAGR for the forecast period.

Browse 63 Market Data Tables, 27 Figures spread through 184 pages and in-depth TOC on “Personal Emergency Response Systems (PERS) Market - Global Forecast to 2020".

http://industryarc.com/Report/1316/Personal-Emergency-Response-Systems-market

Personal Emergency Response System (PERS) Market is a wide-spread healthcare monitoring devices market serving individual users, assisted living facilities and senior living facilities specifically catering to the people in need of immediate medical attention or to ensure safety when living or travelling alone.

The PERS market has been segmented into three types:

  • Landline
  • Mobile and
  • Standalone

Based on the type of end-users, the market is segmented into: home-based users, senior living facilities and assisted living facilities. During the forecast period of 2014-2020, the market is projected to grow steadily at 5.8% to generate revenue of $8,405.3m by 2020.

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World’s aging population is estimated to grow rapidly to reach one billion by 2030, which accounts for 13% of total population. PERS enables the baby boomers to live independently and with minimal support from caretakers, which is the kind of lifestyle increasingly being preferred by majority of the aging population. The mounting costs of in-hospital care will drive the demand for affordable home- healthcare devices.

As the aging population rises, there is an increasing burden on young caretakers to provide affordable as well as reliable home health monitoring tools for the older generation. This is expected to create a significant demand for PERS that will provide timely medical assistance in time of emergency.

In addition to the above factors, the mobile PERS market is likely to grow owing to the boom in the number of smartphone users and the mobility it provides to senior citizens in terms of active lifestyle.

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According to the U.S. Administration of Aging, out of the total number of the elderly people who are over the age of 65 years having broadband access at home, 90% of them own a cell phone. As the integration of healthcare monitoring systems in mobile phones is developing rapidly, the same is expected to drive the mobile PERS market in the years to come.

However, the limited range of landline PERS and increased rate of false alarms, inhibitions about usage of PERS devices are likely to hinder the market growth in the future.

In 2013, North America held the largest share of 40% in the global PERS market. This can be ascribed to the improved health reforms and policies in countries such as the U.S. and Canada. The European PERS market accounted for 37% of the overall revenue, followed by the APAC region. However, improvements in healthcare infrastructure and economies will significantly improve the market share of Asia-Pacific and ROW region. ROW region accounted for 5% share in the global PERS market in 2013.

The dominant players involved in the global PERS market as of 2013 were

  • Philips Lifeline
  • Life Alert Emergency Response Inc.
  • ConnectAmerica
  • Valued Relationships, Inc. and
  • Bay Alarm Medical

Which collectively occupied more than 60% of the market. This oligopolistic market structure has allowed availability of the PERS devices at a competitive pricing across the world.

However, with the technological advancements, the market is set to witness innovations that will lead to further development of affordable devices, thereby, changing the structure of the PERS market in the future.

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