DUBLIN, Aug. 26, 2022 /PRNewswire/ — The “Personal Emergency Response Systems (PERS) – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
Global Personal Emergency Response Systems (PERS) Market to Reach $10.7 Billion by 2026
The global market for Personal Emergency Response Systems (PERS) estimated at US$8.2 Billion in the year 2022, is projected to reach a revised size of US$10.7 Billion by 2026, growing at a CAGR of 6.6% over the analysis period.
Demand in the global market is set to be fueled by the trend towards home based healthcare, increase in average life expectancies, increasing population of baby boomers, and growing participation of public and private sectors in elderly care services. An aging global population constitutes the primary driving force for the growth in the market.
Rising incidence of chronic diseases such as strokes, epileptic seizures or Alzheimer is expected to further drive the market as these people require attention from medical specialists during emergency. Improvements in healthcare infrastructure, extensive adoption of smartphones and penetration of advanced home healthcare devices are playing a pivotal role in bolstering the market growth.
In addition to increasing awareness about various advantages of PERS, the market growth is facilitated by technological advances related to mobile technology that are bound to extend the application scope of these devices.
Mobile PERS, one of the segments analyzed in the report, is projected to record a 7.5% CAGR and reach US$5.8 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Landline PERS segment is readjusted to a revised 6.2% CAGR for the next 7-year period.
Mobile PERS systems enable constant monitoring of individuals even outside the confines of their homes. Growth in the segment is being driven by broader acceptance of these systems Landline PERS is the traditional form of personal emergency response systems. These …