A Personal Response System (PRS), Emergency Response System (ERS), or medical signalling device, sometimes known as a PERS, is a device that provides both security and independence. It's a simple way to seek help from a friend, relative, or emergency services (police, fire department, or ambulance). All a user has to do if he needs help is press a button, which sends a message to an emergency response centre. His medical history is easily available, as are the names and phone numbers of his connections. The emergency response centre will interview the user to determine why they were contacted, and the centre will respond appropriately.
The global Personal Emergency Response Systems market is estimated to account for US$ 8,410.1 Mn in terms of value by the end of 2027. Increasing geriatric population is expected to propel growth of the global personal emergency response systems market over the forecast period. For instance, according to the World Health Organization, geriatric population is expected to reach 2 billion by 2050, up from 900 million in 2015.
Furthermore, rising healthcare spending is projected to help the market develop. According to the Centers for Medicare & Medicaid Services (CMS), health expenditure in the United States is expected to expand at a 5.5 percent annual pace from 2018 to 2027, reaching almost US$ 6.0 trillion. In terms of value, North America dominated the worldwide personal emergency response systems market in 2019, accounting for 47.7% of the market, followed by Europe.
Every senior wishes to maintain their independence, which is becoming increasingly challenging as mobility declines with age. Seniors may achieve this aim more safely by adopting a simple medical alert system. That is why Comfort Keepers recommends SafetyChoice’s Personal Emergency Response Systems (PERS). In an emergency, these gadgets provide a convenient, easy, and effective means to summon assistance.
The personal emergency response system (PERS) market is expected to be worth USD 9.22 Billion by 2023, at a CAGR of 5.7% between 2017 and 2023 as per report by MarketsandMarkets.Healthcare reforms expected to favor growth of PERS marketHealthcare reforms are general rules used for discussing major health policy creation or changes.
Under the Patient Protection and Affordable Care Act (PPACA), an increasing number of individuals with healthcare insurance coverage would drive the demand for healthcare industry services and products such as fall detectors and medical alert systems.
As part of the Affordable Care Act (ACA) and overall health reforms currently underway in the US, there has been an ongoing focus to reduce readmission rates.
Research indicates the use of medical alert devices creates better outcomes for individuals (on average) by reducing hospital readmissions by 48%, decreasing the number of days hospitalized by 69%, and reducing the number of emergency room visits by 6.5%.Increasing use of personal emergency response systems is the key factor for lesser readmissions in hospitals.
The quick response provided by medical alert systems can improve the outcomes for individuals who experience a fall or are afflicted by other medical issues.
Alert systems enable a caregiver or responder to resolve the situation in real-time, thereby preventing the need for the individual to be admitted to a hospital.Download PDF Brochure:https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=237415207Overall cost associated with the system is expected to impact the adoption of PERS devicesSenior citizens do not have a regular income source.
The global personal emergency response system/medical alert system market size is expected to value at USD11.1 billion by 2025.
Additionally, numerous joint ventures and acquisitions by industry players are anticipated to boost growth of the industry.Globally, the personal emergency response system (PERS) market is predicted to grow at CAGR of 5.8% in forecast period, providing numerous opportunity for market players to invest for research and development in the market.
Such diseases are caused due to risks associated with falling.
Similarly, standalone devices have shown substantial growth since last few years due to improved accessibility, compact size, and cost-effectiveness.
Personal emergency response system, also widely known as medical alert system is set devices that monitors patient activities, provides detailed report to healthcare professional, and an emergency button.
As soon as emergency button is pressed by patients, a signal is sent to the console that automatically dials multiple number of contact emergency number, which are already stored by patient.
