Personal Emergency Response Systems Market by Type (Landline PERS, Mobile PERS), End-User (Home Healthcare, Assisted Living Facilities) & Region for 2024-2031

Personal Emergency Response Systems Market Valuation – 2024-2031  

The Personal Emergency Response Systems (PERS) market is expanding as the world’s population ages and chronic diseases become more widespread. These systems, intended for elders and others with health concerns, allow users to contact for help in an emergency, increasing their independence and safety at home. This is likely to enable the market size surpass USD 7.14 Billion valued in 2024 to reach a valuation of around USD 10.81 Billion by 2031.

Technological innovations like mobile-based PERS and wearable devices are propelling market expansion. These advances improve features like GPS monitoring and fall detection, making them more dependable and user-friendly. Furthermore, as elderly people become more mindful of their health and safety, the demand for PERS grows globally. The rising demand for personal emergency response systems is enabling the market grow at a CAGR of 6.1% from 2024 to 2031.

Personal Emergency Response Systems MarketDefinition/ Overview

Personal Emergency Response Systems (PERS) are gadgets that allow elders or those with health concerns to request aid in an emergency. They often contain wearable buttons and communication systems, which promote safety and independence by allowing for immediate assistance.

PERS are designed to provide immediate assistance during medical emergencies, particularly for the elderly and people with chronic illnesses. These devices improve safety and freedom by allowing users to rapidly call for assistance when necessary.

These systems will be used in the future to integrate AI for predictive health monitoring, enhance mobility with wearable technology and improve connectivity via IoT, providing real-time assistance and advanced safety features to aging populations and chronic disease patients.

Will Increasing Technological Advancement Boost the Personal Emergency Response Systems Market Growth?

Technological improvements are expected to considerably accelerate the Personal Emergency Response Systems (PERS) market growth. Mobile-based PERS, wearable devices and smart home integrations are improving system capabilities by adding features like GPS tracking, fall detection, and voice-activated response. These innovations improve reliability, usability and accessibility, meeting the needs of an aging population.

The National Institute on Aging (NIA) indicated that federal funding for aging research grew by almost 33% between fiscal years 2015 and 2020. This increase in financing helps to develop sophisticated technology and solutions for increasing aged care and safety. As a result, as technology innovation advances, the PERS industry is likely to grow, delivering more effective and sophisticated emergency response choices for seniors.

Will Increasing Testing Requirements for Product Approval Hamper the Personal Emergency Response Systems Market?

Increasing testing requirements for product certification may harm the Personal Emergency Response Systems (PERS) business by increasing the time and cost required to bring new devices to market. Stricter rules and more rigorous testing processes assure product safety and reliability, but they can also stifle innovation and market penetration.

Manufacturers may suffer increased development costs and delays, discouraging smaller enterprises from entering the market and reducing competition. Furthermore, lengthy regulatory processes can impede the timely adoption of new technologies, limiting the overall growth of the PERS industry.

While these stringent regulations are critical for assuring the safety and efficiency of PERS devices, balancing regulatory constraints with the need for rapid innovation is necessary to avoid strangling market growth and ensuring that improved, life-saving technology reach consumers promptly.

Category-Wise Acumens

Will Greater Flexibility and Portability Drive the Mobile PERS Segment?

Greater flexibility and mobility are key drivers in the Mobile PERS market. Unlike Landline PERS, which is based on a fixed location, Mobile PERS allows users to obtain emergency assistance from anywhere owing to cellular and GPS technology. This mobility improves safety by letting people to maintain independence while remaining connected to aid in a variety of settings, such as when traveling or running errands.

The convenience of Mobile PERS is consistent with the growing demand for diverse and user-friendly emergency response solutions. As technical improvements improve the functionality and reliability of Mobile PERS, its attractiveness is expected to grow, increasing its market share. The ability to provide real-time support and track location makes Mobile PERS a favored solution for many users wanting greater security and peace of mind.

Will Growing Preference for Aging in Place Drive the End-User Segment?

The rising inclination for aging in place will drive the end-user segment of the personal emergency response systems (PERS) market. As more seniors opt to stay in their homes rather than move to assisted living facilities, the demand for home healthcare solutions, such as PERS, grows. These systems provide critical safety and emergency support, allowing the elderly to live freely while guaranteeing that assistance is promptly available in the event of an emergency.

The trend toward aging in place is being assisted by technological improvements such as wearable devices and smart home connections, which improve the functionality and appeal of PERS. As a result, this shift in choice is propelling growth in the home healthcare segment, making it a critical driver of market expansion and innovation in the PERS business.

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Country/Region-wise Acumens

Will High Adoption Rates of Technology Drive the Market in North America?

Increasing technological adoption rates will fuel the personal emergency response systems (PERS) market in North America. The region’s superior healthcare infrastructure, extensive usage of smartphones and wearables, and high internet connectivity all help to drive the quick adoption of novel PERS solutions. North American consumers are increasingly interested in advanced technologies that improve safety and independence, such as GPS tracking, fall detection, and mobile-based solutions.

Furthermore, North America’s strong focus on healthcare and technology integration promotes the development and implementation of cutting-edge PERS solutions. The availability of modern technology, along with a large aging population, offers a strong market environment for PERS, pushing demand and innovation in the industry. This trend supports North America’s leadership in the worldwide PERS industry.

Will Increasing Awareness of Elderly Care Drive the Market in Asia Pacific Region?

Rising awareness of geriatric care will propel the personal emergency response systems (PERS) market in Asia-Pacific. Demand for PERS systems is likely to increase as the importance of elderly safety and independence becomes more widely recognized. The region’s aging population, combined with improved healthcare infrastructure, is driving the use of advanced care technologies.Governments and healthcare providers in countries such as China and India are increasingly focusing on improving aged care, which is driving up investment in PERS. Furthermore, increased disposable incomes and technology improvements drive the adoption of advanced systems. This increased acknowledgment of aged care needs, combined with technical advancement, is driving market expansion and innovation in the Asia-Pacific region, positioning it as a crucial location for PERS growth.

Competitive Landscape

The personal emergency response systems market is a dynamic and competitive space, characterized by a diverse range of players vying for market share. These players are on the run for solidifying their presence through the adoption of strategic plans such as collaborations, mergers, acquisitions, and political support. The organizations are focusing on innovating their product line to serve the vast population in diverse regions.

Some of the prominent players operating in the personal emergency response systems market include

• Philips Lifeline
• ADT Corporation
• Tunstall Healthcare Group
• AlertOne Services LLC
• Bay Alarm Medical
• Medical Guardian LLC
• Life Alert Emergency Response, Inc.
• MobileHelp
• LifeFone
• Rescue Alert

Latest Developments

• In February 2021, Connect America partnered with Urban Health Plan (US), a health center program in the US, to offer remote patient monitoring (RPM) services to patients in the Bronx, Queens and Manhattan.
• In January 2019, Koninklijke Philips launched Philips Care, an application platform that manages records for senior persons’ routine check-ups and follow-ups.

Report Scope

Personal Emergency Response Systems Market, By Category

Type

• Landline PERS
• Mobile PERS

End-User

• Home Healthcare
• Assisted Living Facilities

Region

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

Research Methodology of Market Research

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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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