PERS Market Growing Fast
♦ PERS Market Growing Fast – According to a Research & Markets report, the global personal emergency response systems market is growing at 6.6 per cent annually and will reach $US10.7 billion by 2026 thanks to an aging population.
According to the report, demand in the global market is set to be fuelled by the trend towards home based healthcare, increase in average life expectancies, increasing population of baby boomers, and growing participation of public and private sectors in elderly care services. An aging global population constitutes the primary driving force for the growth in the market.
Rising incidence of chronic diseases such as strokes, epileptic seizures or Alzheimer is expected to further drive the market as these people require attention from medical specialists during emergency. Improvements in healthcare infrastructure, extensive adoption of smartphones and penetration of advanced home healthcare devices are playing a pivotal role in bolstering market growth.
In addition to increasing awareness about various advantages of PERS, the market growth is facilitated by technological advances related to mobile technology that are bound to extend the application scope of these devices.
Mobile PERS, one of the segments analyzed in the report, is projected to record a 7.5 per cent CAGR and reach US$5.8 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Landline PERS segment is readjusted to a revised 6.2 per cent CAGR for the next 7-year period.
Mobile PERS systems enable constant monitoring of individuals even if they are outside the confines of their homes. Growth in the segment is being driven by broader acceptance of these systems Landline PERS is the traditional form of personal emergency response systems. These are immobile and restricted to confined spaces. Traditional PERS devices are economical, do not require charging and benefit from superior audio reception.
Standalone personal emergency response systems encompass individual devices equipped with communication systems, monitoring systems and transmitters. In the global Standalone PERS segment, USA, Canada, Japan, China and Europe will drive the 5.3 per cent CAGR estimated for this segment.
In ANZ there are no official numbers for the PERS and medical alarm sales growth but an increasing number of older people in better health keen to continue living independently, combined with remote medical and support services, are certain to be driving the same trend.
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