Fall Detection System Market to Generate Heightened Revenue Prospects for Manufa

Posted by VISHAL PAHURKAR on October 1st, 2021

The Fall Detection System Market is expected to be worth US$ 600.0 Million at a CAGR of 4% between 2019 to 2029. Healthcare is going the “digital” way. In other words, artificial intelligence (AI)-enabled medical devices and telemedicine are the concrete instances of the proliferation of the digital wave in the healthcare industry. This factor would be the one traversing the healthcare vertical in the forecast period.

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.

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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.

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.

Based on sensing method, sales of wearable fall detection systems have been, and will continue to witness greater adoption among end users, reveals the PMR research study. Demand for wearable fall detection systems is primarily driven by their ease-of-use nature and mobility, as they come in the form of watches, necklaces, and clip-to-garments, thus enabling users to carry them wherever they wish to go.