The global fall detection systems market is estimated to increase at a CAGR of 4.9% over the forecast period of 2015–2021 to account for $ 448.1 Mn by 2021-end.
New York, NY -- (SBWIRE) -- 09/05/2017 -- The market was estimated at US$ 335.4 Mn in 2015, and is anticipated to observe steady growth across worldwide as a result of growing occurrence of chronic diseases, increased use of smartphones and escalating healthcare expenditure.
Rising occurrence of chronic diseases and the swelling number of stroke conditions amongst the ageing population is a major cause of falls worldwide. Further, rising cases of Alzheimer's among older population, also contributes to the increasing number of falls reported globally. It has been estimated that 12.5% of people 65 years or older and 45% of people 85 years and suffer from Alzheimer's.
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Moreover, just about twice as a lot of women as men suffer from the disease.
The fall detection systems are utilized to ready emergency services in the occasion of a fall. These devices have the prospective to alleviate some of the adverse concerns of a fall.
The global fall detection systems market is segmented into product type, sensing modalities, technology, end-user, and region.
Based on product type the market is sub-segmented into automatic fall detection systems and manual fall detection systems
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By sensing modalities, key segments include wearables and non-weareables. While wearables include watches, necklace and clip-on, non-wearables include floor sensors, wall sensors, and cameras.
By technology, the key segments include GPS systems, mobile phones, and sensors. Demand for fall detection devices is on account of home care settings and senior assisted living facilities.
The Asia Pacific market is estimated to surge at the highest CAGR, with North America, Europe, and Latin America being the other key markets during the forecast period. The Middle East & Africa accounts for a minor share of the global fall detection system; however, it is likely to progress over time with increasing technological advancements and the growing awareness by promotional campaigns.
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Europe is considered as the second largest market for fall detection systems globally.
High costs of devices and non-awareness concerning the usage and implementation of fall detection system can pose challenges to market growth. The Europe market is likely to grow at a steady CAGR over the forecast period.
The key market players in the global fall detection systems market include Medical Guardian LLC, Koninklijke Philips N.V, LifeWatch USA, Tunstall, ADT Security Services, MobileHelp, Bay Alarm Company and MariCare Oy.