The Fall Detection System Market To Slide Amidst Covid-19 With US$ 600.0 Million

Posted by Ashish on January 19th, 2021

The new research study by Persistence Market Research (PMR) unveils worldwide revenue of fall detection systems reached US$ ~380 Mn, in 2018. According to the study, it is projected that the industry for fall detection systems is anticipated to expand by ~ 4% YOY in 2019, mainly affected by the latest changes in the worldwide fall detection systems landscape such as technological advancements.

Growing focus on making highly sensitive and cost-effective fall detection systems contribute to the build-up of the industry for fall detection systems by the end of 2029, according to the study. Increasing number of falls in geriatric population combined with increasing prevalence of chronic diseases and endorsement of fall detection systems as supportive tool for independent living – all contribute to the upsurge in the sales of fall detection systems in 2019 and beyond.

Get Sample Copy of Report @ https://www.persistencemarketresearch.com/samples/8878

Company Profile

• Koninklijke Philips N.V.
• Tunstall
• ADT Inc.
• Medical Guardian LLC.
• BioTelemetry, Inc.
• Bay Alarm Company
• MobileHelp
• MariCare Oy

Fall Injuries Increasing the Demand for Fall Detection Systems

Treatment of fall injuries imposes an enormous financial strain on the community, especially for seniors as the hospitalization time and cost of treatment increases with age. This is linked to rising ageing population coupled with increasing number of falls among the elderly group.

Fall detection systems deliver immediate access to elderly population and provides a potential solution for unreported falls among seniors, thus improving outcomes and reducing the overall healthcare cost. According to the Center for Diseases Control and Prevention, each year, 3 million seniors undergo treatment in emergency departments for fall injuries.

According to the PMR report, growing adoption in homecare settings accounted for relatively high sales in 2018, and this end-use sector will continue to harness the maximum share during the forecast period of 2019-2029. This is attributed to the growing desire for seniors to spent time at home and to live their life independently and at their convenience.

Demand for automatic fall detection systems is estimated to shoot up by the end of 2029, as end users seek user-friendly fall detection systems that have capability to alert senior care or healthcare facility automatically during emergency saving time for the patient to get proper therapy.