New York, NY -- (SBWIRE) -- 12/08/2017 -- The fall detection systems are the devices which are employed for prepared emergency services on the circumstance of a fall. These devices have the perspective to alleviate some of the adverse conditions during a fall. The worldwide market for fall detection systems is likely to exhibit a CAGR of 4.5% by the assessment period of 2017–2025 as well as will be accounting for approximately US$ 518.5 Million through 2025 end. The overall market was accounted for a figure of US$ 365.2 Million during 2017 and is predicted for a solid expansion globally as a result of growing occurrence of chronic diseases, rising number of falls amongst the geriatric population, technological advancements, implementation of the fall detection systems, growing FDI (Food and Drug Administration) regulations in the developing nations, increased use of smart phones and escalating healthcare expenditure.
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Based on the product type the market is categorized in manual fall detection systems and automatic fall detection systems. The automatic detection systems category is likely to gain the most market share of approximately 61.6% by 2025 end furthermore is considered to grow at 5.1% CAGR in revenue terms over 2017 to 2025.
Based on the sensing modalities, the market is divided into wearable and non-wearable. As wearable incorporates watches, necklace and clip-on, the non-wearable included floor sensors, wall sensors and cameras. The wearable is likely to gain the maximum market share of approximately 73.3% by 2025 end as well as recording a 4.7% CAGR in revenue terms throughout the projected period of 2017- 2025.
On the basis of technology, the forecast in terms of value for the following six years is segmented in mobile phones, GPS systems and sensors. The sensors category is likely to hold the majority of market shares of about 61.6% throughout 2025 and grow at 5.1% CAGR in revenue terms by 2025 end.
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Based on the end user, the overall market is categorized into senior assisted living facilities and home care settings. The home care settings category will lead the market by retaining maximum market shares in revenue terms and are likely to continue to do so.
The overall market is studied across five major regions, namely, Europe, Latin America, Asia Pacific, North America and Middle East & Africa (MEA). The North American region will be accounting for the maximum value share of 45.5% during 2017, and the second largest market retaining maximum shares in Europe. At present, APAC region is likely to record maximum revenue growth and register a CAGR of 5.7% during the eight-year forecast period of 2017-2025.
The major companies in the overall fall detection systems consist of Tunstall, Bay Alarm Company, MobileHelp, Koninklijke Philips N.V, ADT Security Services, Medical Guardian, LifeWatch USA, MariCareOy
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