Medical Alert Systems Market Size, Share, Growth Analysis, By Type(In-Home Systems and Mobile Systems), By Application(Senior Citizens and Individuals with Disabilities), By Region - Industry Forecast 2024-2031

Global Medical Alert Systems Market size was valued at USD 7.15 billion in 2022 and is poised to grow from USD 7.92 billion in 2023 to USD 18 billion by 2031, growing at a CAGR of 10.8% during the forecast period (2024-2031).

With the increasing elderly population, the global market for medical alert systems is expected to experience significant growth. These systems play a crucial role in ensuring the safety and well-being of older adults, offering peace of mind to both the elderly individuals themselves and their caregivers. According to a report titled "An Aging World" by the U.S. Department of Commerce, the global population reached 7.3 billion in 2015, with approximately 8.5% or 617.1 million individuals aged 65 years and above. Over the next 15 years, this elderly population is projected to grow by more than 60%. Consequently, the demand for medical alert systems within the homes of the elderly is also on the rise. Falls, in particular, pose a significant risk to older adults and are a leading cause of injury among them. The American Hospital Association reports that more than one-third of adults aged 65 years and above experience a fall annually, which often results in various chronic and severe issues. This situation further emphasizes the need for medical alert systems. Furthermore, a large majority of elderly individuals, approximately 90% according to the American Association of Retired Persons, prefer to age in the familiarity and comfort of their own homes rather than considering alternatives like nursing homes or assisted living facilities. Medical alert systems enable them to achieve this goal by providing assistance when needed.

US Medical Alert Systems Market is poised to grow at a sustainable CAGR for the next forecast year.