The global medical alert system market was valued at a CAGR of 5% at $6.7 billion in 2016. Growing elderly population, improved healthcare infrastructure, and growing preference for aging are some of the drivers driving the market. According to a report titled’Aging World’ by the U.S. Department of Commerce, the world’s population was 7.3 billion in 2015, of which 6217.1 million, or about 8.5 percent, were 65 and older. It is estimated that in just 15 years the elderly population will grow by more than 60%.
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Medical Alert Systems Market Segments
By System Type
• Personal Emergency Response Systems (PERS)
• Nurse Call Systems (NCS)
• Ambulatory Auto Alert Systems
• Automated Airborne Flight Alert System
• Smart Belt
By Offering
• Hardware
• Software
• Services (Subscription Revenue)
By Connection Type
• Wired
• Wireless
By Application
• Home-Based Users
• Senior Living Facilities/Senior Care Centers
• Assisted Living Facilities
• Others (Nursing Homes, Hospice)
By Technology
• Two-way Voice Systems
• Unmonitored Medical Alert Systems
• Medical Alert Alarm (Button) System
• IP-based systems
• Others
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(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
