Transparency Market Research Report Added "Medical Alert Systems Market" to its database.

Albany, NY -- (SBWire) -- 09/29/2016 --In the recent times, the medical alert systems market has witnessed significant growth owing to rising awareness amongst consumers regarding personal health and safety. A new research report by Transparency Market Research (TMR), titled "Medical Alert Systems Market - Global Industry Analysis, Size, Share, Trends and Forecast 2016 – 2024," serves as a repository of analysis and information regarding various aspects of the market including market dynamics, geographical segmentation, and competitive landscape.

Factors such as constant innovations in technology, expanding base of geriatric population, and easy interoperability of medical alert devices are propelling the growth of the global market. However, the high cost associated with these systems is likely to limit the widespread adoption of medical alert systems. Moreover, the high chances of a false alarm are adversely affecting the efficiency of mobile alert devices, in turn, hampering the growth of the global market. On the other hand, medical alert systems vendors are anticipated to capitalize on the immense opportunities created by emerging markets. This will boost the overall revenues of the market in the near future.

Based on component, the medical alert systems market is segmented into microphones, global system for mobile communications (GSM), wireless transmitters, fall detection sensors, and global positioning systems (GPS). GSM is likely to flourish because of its portability and reliability. On the basis of product type, the market is categorized into standalone, landline, and mobile. The demand for mobile-based alert systems is expected to increase owing to increasing smartphone users and growing preference for digitized personal emergency response systems. The end-users studied in the report are homecare setting, hospitals, long-term care centers, nursing facilities, and senior living facilities. Hospitals are further divided into less than 250-bed hospitals, 250- to 499-bed hospitals, and 500-plus bed hospitals. Homecare settings are gaining popularity amongst senior citizens.

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Geographically, North America will continue to be the leading segment in terms of revenue until 2024. The regional market is driven by rising geriatric population, high health conscious population, and increasing adoption of medical alert systems in homecare settings. This region is followed by Europe, which is anticipated to rise at a higher growth rate from 2016 to 2024. Asia Pacific, the Middle East and Africa, and Latin America are estimated to exhibit robust growth rate over the forecast period. Factors such as improving economic conditions, rapidly growing healthcare sector, increasing investments in healthcare facilities by governments, and geriatric population are contributing to the growth of these regional markets.

Some of the key players in the global medical alert systems market are ADT LLC, AlertOne Services LLC, Bay Alarm Medical, Galaxy Medical Alert Systems, Guardian Alarm, LifeFone, Medical Guardian LLC, Philips N.V., and Valued Relationships Inc.

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