Global Personal Emergency Response Systems (PERS) Market Expected to Account for US$ 6,572.6 Mn by 2024
New York, NY -- (SBWIRE) -- 11/09/2017 -- According to the latest market report published by Persistence Market Research titled, "Global Market Study on Personal Emergency Response Systems (PERS): Increasing Geriatric Population and Increasing Prevalence of Neurological Disorders are Factors Expected to Drive Market Growth Over 2016 - 2024", the global personal emergency response systems market is expected to increase at a healthy CAGR of over 8.0% over the forecast period (2016–2024).
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Personal emergency response systems are devices used to alert emergency services in the event of a fall or any emergency situation for immediate medical assistance. Such devices have the potential to mitigate some adverse consequences of an emergency or any risk situations. The personal emergency response systems market was valued at US$ 3,191.5 Mn in 2015 and is expected to increase at a CAGR of over 8.0% during the forecast period.
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By region, North America is expected to dominate the global personal emergency response systems market throughout the forecast period, driven by increasing number of geriatric population, rising prevalence of chronic diseases, proliferation of smartphones, and adoption of personal emergency response systems as supportive tool for assisted living facilities. The U.S. is the largest market for personal emergency response systems in North America. The personal emergency response systems market in the U.S. is expected to increase at a CAGR of 9.2% over the forecast period.
Key market participants included in the report are Koninklijke Philips N.V, LifeWatch USA, Tunstall, ADT Security Services, Medical Guardian LLC, MobileHelp, Bay Alarm Company, and MariCare Oy.
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