According to IndustryARC analysis, the global medical alert systems market size is expected to grow from around $1.23bn in 2013 to $1.85bn by 2018. The market is expected to reach the $2bn mark by 2020.
Bengaluru, India -- (SBWIRE) -- 12/26/2013 -- The projected percentage of GDP amount to be spent by Asia Pacific countries such as China, Japan and South Korea in public healthcare will be 10% by 2020 owing to the rapid rise in ageing citizens.
With the increasing ageing population all across the world particularly developed countries, their health and care will be of prime importance for the current generation. To reduce the dependency factor of the aged persons on others, the caretakers are involving the use of PERS or medical alert systems thereby forming a huge market share in the healthcare industry.
Humana Inc. in collaboration with Valued Relationships Inc. is going to provide 500 Medicare members nationwide with the pilot enhanced medical alert system.
The surge in the ageing population in Europe has forced EU members to seek a change in their healthcare policies and provide reimbursements for remote monitoring systems including PERS devices.
The field of medical alert systems used to be a comparatively stable but owing to the rise in the ageing population and their demands for better healthcare facilities without increasing the hospital visits and bills has created turbulence in it.
The recent industry acquisition and mergers such as Tunstall/America Medical Alert Corp. (AMAC), MobileHelp/Halo surely guarantees the potential growth in PERS market. The market for the medical alert systems will be dominated by USA till 2020 followed by Asia Pacific and European markets. The major key players in USA are Philips Lifeline and Health Watch Inc.
The tech savvy generation has paved the way for replacing the medical alert system technology with the smart phones and tablets. Ping4alerts and Guardly are developing apps attributing to the demands created by a digital usage over conventional analog.
Recently Numera provided mPERS portable system to American telecommunications giant AT&T for its new personal emergency response system service, EverThere.
The IndustryARC report on the Global Medical Alert Systems or Personal Emergency Response Systems (PERS) Market identifies many such insights and M&A opportunities, besides providing a detailed analysis of the dynamometer testing services and equipment market.
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Press Release Source: AB Newswire