The global PERS market is estimated to reach USD 11.1 billion by 2025
Increasing incidence of Alzheimer's disease and rising life expectancy are estimated to boost the market for Medical alert systems. Moreover, increasing number of mergers and acquisitions by market players are also expected to accelerate growth.
Furthermore, the elderly is more prone to falls, and according to a study, 50% of seniors aged 80 years and 30% of seniors aged 65 fall every year. In addition, those suffering from diseases such as epilepsy, Alzheimer's, Parkinson's, multiple sclerosis, and muscular dystrophy, are at a higher risk of falling. These are major factors that are estimated to drive the market.
In addition, availability of technologically advanced medical alert systems, such as those enabled with W-Fi, GPS, BLE, and radio frequency, help caregivers in finding wandering elders. Combination of PERS with mobile communication technology has enabled not only monitoring of users when they are at home, but also when they are traveling and leading active lives.
Devices are now capable of predictive or automatic fall detection and connect the elderly to their caregivers and medical professionals. Increasing awareness about Internet of Things has presented a huge opportunity for medical alert systems to create connected homes. Thus, technologically advanced PERS devices have accelerated the growth of the market.