Global Medical Alert Systems Market ( )

Transcription

1 IndustryARC Global Medical Alert Systems Market ( ) -By System & Services (Home, Fall Detection, PERS); By Hardware/Software (Microphone/Speaker, Wireless Transceiver, GPS Tracking Unit, GSM Transceivers, Accelerometers) IndustryARC 1

2 TABLE OF CONTENTS 1. Medical Alert Systems - Market Overview 2. Executive Summary 3. Medical Alert Systems - Market Landscape 3.1. Market Share Analysis 3.2. Comparative Analysis Product Benchmarking End user profiling Patent Analysis Top 5 Financials Analysis 4. Medical Alert Systems - Market Forces 4.1. Market Drivers 4.2. Market Constraints 4.3. Market Challenges 4.4. Attractiveness of the Industry Power of Suppliers Power of Customers Threat of New entrants Threat of Substitution Degree of Competition Medical Alert Systems Market Strategic Analysis 5.1. Value Chain Analysis 5.2. Opportunities Analysis 5.3. Product/Market Life Cycle Analysis IndustryARC 2

3 6. Medical Alert Systems Classification 6.1. By System Home System Fall Detection System Cellular System (mpers) 6.2. By Hardware/Software Wireless Transmitter Wireless Receiver Fall Detection Sensor Microphone Speaker Mobile Phones Smart Phones/ Tablets GPS Tracking Unit GSM Transceiver Accelerometer Gyroscope Magnetometer 7. Global Medical Alert Systems Market -Geographic Analysis 7.1. Introduction 7.2. North America Canada USA 7.3. Europe 7.4. APAC 7.5. ROW IndustryARC 3

4 8. Market Entropy 8.1. New Product Launches 8.2. M&As, Collaborations, JVs and Partnerships 9. Company Profiles (Overview, Financials, SWOT Analysis Top 5 Companies, Developments, Product Portfolio) 9.1. ADT Solutions 9.2. Alert One Services 9.3. Audon Electronics-Elderly-SOS 9.4. Bay Alarm Medical 9.5. CarelineUK Services 9.6. Fall-n-Call Emergency Systems 9.7. Galaxy Medical Alert Systems 9.8. Guardly Mobile Safety Solutions 9.9. Health Watch Inc Life Alert Emergency Response, In Life Guardian Technologies LLC LifeFone Services LifeStation Medical Alert System and Medical Alarm LifeLink LogicMark Emergency Response Systems Mobile Help Mobile Medical Alert System Philips Lifeline Medical Alert System and Service RescueAlert Medical Alert Systems Secura Trac Send Word Now Communications SpaceLabs Healthcare IndustryARC 4

5 9.22. Tunstall Healthcare Group Valued Relationships Inc Visonic Others 10. Appendix Abbreviations Sources Research Methodology Bibliography Compilation of Expert Insights Disclaimer IndustryARC 5

6 REPORT DESCRIPTION & SCOPE The market for Personal Emergency Response Systems or Medical Alert Systems is analyzed on the regional levels rather than on a global scale due to the differences in the infrastructure setup, healthcare policies and service providers. America will be leading the market till 2020 due to the lack of awareness and support in Asia Pacific and European countries. There are no dominant market players in the industry globally although the recent mergers and acquisitions as mentioned above are pointing towards the competitive landscape that is coming out of what was once known as a stable industry. The current market for Medical Alert Systems or Personal Emergency Response Systems (PERS) is confined to the North American countries such as USA and Canada due to the funding provided to their citizens by government who rely on healthcare products such as a PERS. The users of this system in these countries have the facility to get the amount reimbursed spent on it. This Alert System mainly consists of a Pendant/Wristband consisting of an emergency/panic button, base station unit or emergency console, a telephone and a monitoring service unit. Although the users of these systems lie in the age between years, the main customers for these products remain to be a comparatively younger generation who are caretakers basically. The main driver for the market will be the new reimbursement policies for healthcare products soon to be regulated by various governments across the world. Moreover the lowering mortality rates have left many countries with a fast growing ageing population who are dependent on others for care. This leaves the care takers with no other option but to provide the old persons a device that they can rely upon at the times of great emergency with an instantaneous medical service at their doorstep. The market for medical alert systems has a strong foothold in North American regions viz, USA and Canada primarily due to the expenditure made by government in the healthcare field belonging to these regions. Hence the market in USA is expected to grow at a CAGR of 12% and will be a leading nation until the end of this decade. The global medical alert systems market size is expected to grow from around $1.23bn in 2013 to $1.85bn by The market is expected to reach the $2bn mark by Considering the USA alone, the population above 65 years of age will be touching 74 million by There are many regional players in USA that have good reviews and loyal customer base like LifeStation, LifeFone, ADT Companion Solutions but Philips Lifeline and Health Watch Inc. PERS devices dominate the market supported by a large number of distributors and suppliers. IndustryARC 6

7 With the advent of the technology many manufacturers of medical alert systems are removing the necessity of having a base station owing to their limited range of working. Instead the mobile devices are being provided to the users incorporating GSM and GPS services to connect the user directly to the monitoring center and tracing their exact location respectively, thus giving birth to a new market called as mobile PERS or mpers. MobileHelp was the first manufacturer in the emerging field of mpers. The explosion of Smartphone and Tablet users among old age groups has forced the Application Developers to develop alternative Apps for the medical alert systems. The companies currently working in developing the apps for these systems are: Guardly and Ping4alerts. AT&T recently launched a mobile personal emergency response system (mpers), EverThere with the portable system acquired from Numera that uses accelerometers to detect the fall of user. The internal gyroscope and magnetometer help learn the user s daily routine. Recent industry acquisitions and mergers such as Tunstall/America Medical Alert Corp. (AMAC), MobileHelp/Halo surely guarantees the potential growth in PERS market. The market for the medical alert systems will be dominated by USA till 2020 followed by Asia Pacific and European markets. Estimated Global Share of PERS Market in % 20.0% 40.0% North America Asia Pacific 30.0% Europe ROW Source: IndustryARC Analysis The above pie chart is an approximate representation of the global market size for medical alert systems/pers in The analysis is based on the percentage increase in the ageing population in these countries. Japan and South Korea will contribute significantly in the medical alert systems market due to the rapid decline in the working force. IndustryARC 7

8 Global Estimation of PERS Revenues ($bn) and CAGR-By Regions ( ) Regions CAGR (%) ( ) North America XX XX XX XX XX% Asia Pacific XX XX XX XX XX% Europe XX XX XX XX XX% ROW XX XX XX XX XX% Total $1.23 XX $1.85 XX XX% Source: IndustryARC Analysis The table depicted above gives the estimation of revenues generated by medical alert systems market in 2020 segmented into regions. The global market size is expected to grow from around $1.23bn in 2013 to $1.85bn by The market is expected to reach the $2bn mark by The CAGR is calculated for the year by keeping 2013 as the base year. The values in the table are estimated after exhaustive analysis of medical alert system providers, growth of the elder population in the particular regions. Moreover the expenditure on the healthcare industry including PERS by the respective governments is taken account of in calculating the revenues. IndustryARC 8

9 Global Medical Alert Systems or PERS Market - TRENDS The current industry is limited to mainly North American regions such as USA and Canada. USA will be the market leader for PERS devices for the current decade. Latest technology called as mobile PERS or mpers makes the use of GSM and GPS services to enhance the capability and efficiency of medical alert systems. PERS 2.0 is the emerging technology that contains a Fall Detection Sensor and Caregivers Notification facilities. The expected number of PERS devices in use will be touching is 66 million in USA by Philips Lifeline and Health Watch Inc. currently dominate the American market of medical alert system devices and services. Value Relationships Inc. along with Human Inc. to provide pilot medical alert systems to the 500 Medicare members in USA. The trend for opting digital technology over analog will make the current PERS devices incorporating landline telephone obsolete. Sensing this shift, Guardly and Ping4alerts, the mobile safety app developers are developing apps specifically for making Smart Phones and Tablets as PERS devices. The increased use of PERS devices is creating impact on the telecommunications giants also. AT&T recently launched mobile personal emergency response system (mpers) called as Ever There. IndustryARC 9

10 RESEARCH METHODOLOGY The quantitative and qualitative data collected for the Medical Alert Systems or Personal Emergency Response Systems market report is from a combination of secondary and primary sources. Research interviews were conducted with senior executives and/or managers of leading manufacturers and its service providers. These Key Opinion Leaders (KOLs) were then provided a questionnaire to gather quantitative and qualitative inputs on their operations, performance, strategies and views on the overall market, including key developments and technology trends. Data from interviews is consolidated, checked for consistency and accuracy, and the final market numbers are again validated by experts. The global market was split by products, services and geography based on different factors like primary and secondary sources, understanding of the number of companies operating in each segment and also KOL insights. We have used various secondary sources such as directories, articles, white papers, newsletters, annual reports and paid databases such as OneSource, Hoovers and Factiva to identify and collect information for extensive technical and commercial study of the medical alert systems market. The key players in the market and its value chain were identified through secondary research and their market opinions were also gathered in a similar way through telephonic interviews and questionnaires. We have also studied the annual reports of these top market players. Interviews with key opinion leaders such as directors, managers, marketing personnel were used extensively in understanding the need and emergence of the medical alert systems market. IndustryARC 10

11 THE ARC ADVANTAGE An analytical model lies at the core of our process, ensuring logical consistency throughout our research. We complement the model with secondary data and interviews with industry experts to reflect the latest trends. With our final expert validation, we provide you with only the most accurate and actionable intelligence. THE ARC PROCESS Analytical Method Base Method Consolidation Method Delphi Verification 1. Granular breakdown of drivers into factors 2. Validate all factors in terms of their present impact on the market 3. Assign weights to these factors in terms of their relevance and impact on the market 1. Get a topdown estimate of the market 2. Follow it up with a bottom-up estimate of the market 3. Check forconsistency and new growth factors that are relevant over the next 10 Years 1. Granular breakdown of drivers into factors 2. Validate all factors in terms of their present impact on the market. 3. Assign weights to these factors in terms of their relevance and impact on the market. 1. Verify the findings of the model with experts from across the value chain 2. Verify the findings with players across small and large enterprises 3. Tweak the model and add new factors 4. Build the Analytical Model 4. Build the Base model 4. Build the Consolidated Model 4. Finalize the ARC Model ANALYTICAL MODEL BASE MODEL CONSOLIDATED MODEL ARC MODEL IndustryARC 11

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