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The medical alert systems market is forecasted to achieve significant growth in the coming few years with a forecast CAGR (compound annual growth rate) of more than 8%, as per The Business Research Company’s market report!

Read More On The Medical Alert Systems Market Report 2022 – https://www.thebusinessresearchcompany.com/report/medical-alert-systems-global-market-report

The Medical Alert Systems Market Size In 2022 And Forecast

The global medical alert systems market is expected to grow $8.53 billion in 2021 to $9.30 billion in 2022 at a compound annual growth rate (CAGR) of 9.0%. The global medical alert systems market size is expected to reach $12.98 billion in 2026 at a CAGR of 8.7%.

The medical alert systems market consists of sales of the medical alert systems products and related services by entities (organizations, sole traders, and partnerships) that refer to a life-saving device that is used to create a sense of safety at the push of a button.

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The Increasing Focus Of The Government To Improve Healthcare Infrastructure Is Driving The Growth Of The Medical Alert Systems Market

For instance, in March 2020, the Federal Communications Commission (FCC), an independent agency of the US government, launched several programs to keep Americans connected to crucial health services, such as the $200 million COVID-19 Telehealth Program, which will assist medical professionals in providing connected care services to patients at their homes or mobile sites in response to the pandemic. The program completely funded the telecommunications services, information services, and a wide range of devices required to offer essential linked care services, enabling eligible health care providers to respond to the pandemic right away. Therefore, the increasing government focus to improve healthcare infrastructure is expected to boost the medical alert systems market during the forecast period.

Competitive Landscape And The Regional Analysis Of The Medical Alert Systems Market

Major players in the medical alert systems market are Koninklijke Philips N.V., Connect America, ADT Security Services, Bay Alarm Medical, VRI Inc., Life Alert Emergency Response, Inc, Medical Guardian LLP, Nortek Security and Control, Rescue Alert, AlertONE Service Inc., GreatCall, Ascom Wireless Solutions, LogicMark, Tunstall, and LifeStation.

Additionally, as per TBRC’s research – Asia-Pacific was the largest region in the medical alert systems market in 2021 holding the largest market share and is expected to be the fastest-growing region in the forecast period.

The Medical Alert Systems Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the medical alert systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the medical alert systems market

Technological Advancement – A Key Trend In The Medical Alert Systems Market

Major companies operating in the medical alert systems market are adopting new technological solutions such as the Micro, a mobile medical alert device to sustain their position.

Medical Alert Systems Market Segmentation By The Business Research Company

1) By Offering Type: Hardware, Services

2) By System Type: Personal Emergency Response System (PERS), Nurse Calling System (NCS), Smart Belt

3) By Technology Type: Two-way Voice Systems, Medical Alert Alarm (Button) System, IP-based Systems

4) By Distribution Channel Type: Pharmacies, Online Sales, Hypermarkets

5) By Application Type: Home-Based users, Senior Living Facilities/Senior Care Centers, Assisted Living Facilities, Hospitals and Clinics, Others

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