The fall detection systems market refers to the production and sale of devices and services that can detect when an individual has fallen and alert caregivers or emergency services. Fall detection systems are used primarily by elderly or disabled individuals who may be at risk of falls and injury.
The fall detection systems market is driven by a range of factors, including increasing demand for products and services that enable individuals to live independently and safely, raising awareness of the risks of falls among the elderly and disabled populations, and advances in technology that have made fall detection systems more accurate and reliable.
Persistence Market Research delivers key insights and presents a revised forecast of the global fall detection system market for eight years from 2017 to 2025 in a report titled “Fall Detection System Market: Global Industry Analysis (2012–2016) and Forecast (2017–2025).” The revision in the market size and forecasts have been carried out taking into account the impact of various macroeconomic indicators and other industry-based demand-driving factors, as well as the recent developments of key market participants. The global fall detection system market is projected to expand at a healthy CAGR of 4.5% in terms of value during the forecast period, revised from the previous CAGR of 4.9%, due to factors regarding which PMR offers useful insights in detail in this report. The fall detection system market is estimated to account for US$ 365.2 Mn in 2017 and is expected to increase to US$ 518.5 Mn by 2025. North America and APAC are expected to collectively account for nearly 57.7% revenue share of the fall detection system market in 2017.
The market for fall detection systems, though shrouded by the high cost of equipment, false positives of equipment, and lack of awareness, presents lucrative opportunities for manufacturers and service providers alike, as these offer ease of accessibility, affordability, and effective administration to potential customers. The report analyzes the global fall detection system market in terms of market value (US$ Mn) by product type, sensing modalities, technology, end user, and region. It also provides information regarding market dynamics, competitive landscape, current trends, market estimations, and forecasts.
- Koninklijke Philips N.V.
- ADT Inc.
- Medical Guardian LLC.
- BioTelemetry, Inc.
- Bay Alarm Company
- MariCare Oy
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North America is expected to dominate the global fall detection market throughout the forecast period, driven by an increasing number of falls among the geriatric population, the rising prevalence of chronic diseases, the proliferation of smartphones, and the adoption of fall detection systems as supportive tools for independent living. The market in the U.S. for fall detection systems in North America holds the largest share. The fall detection system market in the U.S. is expected to increase from the current estimated value of US$ 136.9 Mn in 2017 to US$ 197.4 Mn by 2025, registering a CAGR of 4.7% over the forecast period. The rising number of falls among old people, increasing demand for fall detection systems due to their superior effectiveness and increased focus on maintaining superior quality of life are factors expected to boost overall demand in the fall detection system market shortly.
By product type, the fall detection system market is segmented into automatic fall detection systems and manual fall detection systems. The automatic fall detection systems segment is expected to dominate the global fall detection systems market by the end of 2025. The segment is projected to register an above-average growth rate over the forecast period.
By sensing modalities, the fall detection system market is segmented into wearable and non-wearable segments. Among these, the wearable segment is expected to dominate the overall market by 2025, owing to the ease of use and portability of these devices and the rising number of falls among the aging population as well as the increasing adoption of new technologies by the elderly to live independently and safely at home.
By technology, the fall detection system market is segmented into GPS systems, mobile phones, and sensors. Among these, the sensors segment is expected to gain high demand in comparison to all other segments over the forecast period.
By end user, the fall detection system market is segmented into home care settings and senior assisted living facilities. Among these, the home care settings segment is expected to remain the most attractive and is estimated to account for a 70.7% share of the global market by 2017 end, and further increase to 74.2% by 2025.
Fall Detection Systems Market by By Product Type
- Automatic Fall Detection Systems
- Manual Fall Detection Systems
Fall Detection Systems Market By Technology
- Mobile Phone-based
Fall Detection Systems Market By Sensing Method
- Floor Sensors
- Wall Sensors
Fall Detection Systems Market By End User
- Home Care Settings
- Assisted Living Facilities
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