According to Persistence Market Research’s latest report, the Global Fall Detection Systems Market size will surpass US$ 607.9 Million in terms of market value by 2029, at a CAGR of 4.4%. The report also states that the increasing emphasis on developing highly sensitive and cost-effective fall detection systems is the major factor contributing to the growth of the market for fall detection systems.
Moreover, the rising percentage of falls among the elderly, the rising incidence of chronic diseases and the increasing adoption of fall detection systems are all expected to drive the growth of the fall detection system market throughout the forecast period. Apart from this, the demand for automated fall detection systems is likely to skyrocket in the years to come due to the integration of AI and ML technologies, which is likely to boost the market growth.
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Company Profiles:
- Koninklijke Philips N.V.
- Tunstall
- ADT Inc.
- Medical Guardian LLC.
- BioTelemetry, Inc.
- Bay Alarm Company
- MobileHelp
- MariCare Oy
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The Asia Pacific to Harness the Maximum Market Share
Geographically, the Asia-Pacific is projected to have the largest share of the market for fall detection systems, due to the region’s significant expansion of the healthcare industry. The high population, as well as the government’s increased expenditure on healthcare particularly in Asian nations provide an opportunity for fall detection system manufacturers to invest in these regions. Furthermore, because of the high-income levels and public awareness, the market for Fall Detection Systems in North America and Europe is also expected to grow significantly throughout the forecast period
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PMR has presented a comprehensive report based on Fall Detection Systems Market as per Product Type (Automatic Fall Detection Systems and Manual Fall Detection Systems), Technology (GPS-based, Mobile Phone-based, and Sensor-based), Sensing Method (Wearable, and Non-Wearable), End User (Home Care Settings, and Assisted Living Facilities) based on seven regions.
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