A Medical Alert System often referred to as a personal emergency response system (PERS) or a fall button, is a combination of hi-tech communication and computer technology. There are two different types of systems available—in-home systems and mobile systems. These are easy-to-use communication tools that enable seniors to live independently and safely in their homes. It is a good investment for seniors who live alone, especially for those who need swift attention in case of an emergency. Investing in a medical alert system is a wise choice for anyone who has a fear of falling at home or on the go, and for those who want to be independent and continue doing the activities they love with an added level of security.
360Quadrants has released a quadrant best medical alert system to help businesses make quicker and more informed decisions for their business. Ranking Quadrants are generated post analysis of companies (product portfolios and business strategies) and will be updated every three months based on market and regional analyses and developments in the medical alert systems industry. 360Quadrants conducts an in-depth SWOT analysis which helps service providers in learning about new opportunities and areas where they lag behind their peers. It also helps clients in choosing the most appropriate vendor for their requirements.
categorization of MEDICAL ALERT SYSTEMvendors on 360Quadrants
More than 40 companies offering Medical Alert System were evaluated, of which, 20 companies were categorized on a quadrant under Visionary Leaders, Innovators, Dynamic Differentiators, and Emerging Leaders.
Koninklijke Philips, Connect America, Valued Relationships (VRI), Guardian Alarm, and Alertone Services have been identified as visionary leaders as they have established product portfolios and a robust market presence and business strategy.
QMedic, BayAlarm, Lifefone, MobileHelp, and Critical Signal Technologies have been identified as innovators as they have focused product portfolios, and an innovative business strategy which helps in setting new trends in the market.
Rescue Alert, Better Alert, LifeStation, Response Now, and Vangaurd Wireless have been identified as emerging companies as they have a niche product offering and a decent business strategy which helps them in growing consistently.
Medical Guardian LLC, ADT Corporation, GreatCall, Galaxy Medical Alert Systems, and Bluelinea have been recognized as dynamic differentiators as they have an innovative portfolio of solutions and services.
TOP MARKET LEADERS
In 2019, the medical alert systems market was dominated by Koninklijke Philips, Connect America, Valued Relationships (VRI), Guardian Alarm, and AlertOne Services. These leading players adopted a few strategies in the medical alert systems market which created a significant impact. Strategies comprise product launches, strategic partnerships, and business agreements, along with mergers& acquisitions.
Koninklijke Philips (Europe) is one of the industry leaders in the field of medical alert systems with its diverse and strong product portfolio. It deals in various medical equipment such as medical alert systems, imaging solutions, and respiratory care. The company operates through four business segments—diagnosis & treatment, connected care & health informatics, personal health, and others. Its global presence in the medical alert systems market makes it a dominant player in this segment. The company is expanding its connected care and health informatics business segment by using organic and inorganic strategies. It focuses on innovations, partnerships, organic investments, and acquisitions. The company’s strong brand name, distribution network, and geographic reach are some of the reasons which influence the leadership position of Philips in the medical alert systems market. The company partnered with other senior assistive device manufacturers, such as Right at Home (US) and Constant Companions (US), to create innovative solutions for seniors.
Connect America (US) is one of the largest providers of medical alert systems in North America. It caters to people suffering from some physical challenges, medical ailments, declining health, and senior citizens who wish to live independently. The company focuses on inorganic growth as a strategy for its expansion in the medical alert systems market. This inorganic strategy, combined with the industry’s best emergency response service at an affordable cost, helped in increasing the company’s share in the medical alert systems market in the US. The company can expand its operations in different emerging markets in order to increase its revenue and emerge as a global player in the best medical alert system. It can target other regions of the world with some product differentiation, which is suitable for a particular market or which matches the lifestyle of the people living there.
Valued Relationships (VRI) (US) is one of the renowned players providing health monitoring solutions to geriatric people with disabilities or illnesses. The company provides medical alert systems, which include electronic medication reminder devices, tele-health and vitals monitoring, fall detection, medication management, and mobile medical alert solutions. The company majorly focus on partnerships and collaborations to grow in the medical alert systems market. It holds a strong position in the US because of its product portfolio and excellent service. The company can take advantage of its existing strategy to collaborate with players who are working on emerging technologies such as IoT (Numerex) and can develop innovative solutions for targeted audiences in other regions. Such collaborations can help the company to become an international player in the top medical alert system market.
