A personal emergency response
system is an electronic device that allows individual to seek a secure help
during an emergency. This is system is connected with other devices such as
cell phone or alarm and are programmed to signal a response center upon activation
of ‘help’ or a ‘push’ button. This help button is a radiofrequency trigger
device that is mostly worn around the wrist or neck.
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The person at the receiving end
of the PERS can even interact with the individual in order to decide which
action should be taken. It has been observed that there is an increasing trend
towards usage of technologies that allow people to gain easy access to
healthcare without any undue effort of staying in the hospital. Therefore, it
is expected that the personal emergency response system market will be among
the most lucrative component in the home healthcare market.
A basic model of PERS involves
the equipment and a facility of call service. The equipment includes a receiver
console through which call can be made to the emergency response centre of the
PERS center staff of the service provider. The personal emergency response
systems and its components those are involved in the remote access and
monitoring have now become an indispensible part in the development of the
telehealth services. These systems can be expected to be completely integrated
with the consumer products such as wristwatch, cell phone, etc. in the near
future.
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Such comprehensive solution will
enable easier and independent life for seniors through management of diseases,
social interaction and engagement. The major concerning factor that limits the
natural growth of the global personal emergency response systems market include
the out-of-pocket payments required for covering the cost of equipping the
device of availing the service.
The U.S. Census Bureau has
estimated that the present senior population in the U.S. is likely to increase
from 34 million and reach 74 million by 2025. During the same time, the world
population of seniors is set to jump from 550 million to 1.2 billion in 2025.
Many people among this population are expected to demand for the home
healthcare due to its cost effectiveness over hospitals. The desire to
age-in-place has propelled the development of innovative personal emergency
response systems.
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A survey conducted by the AARP
International revealed that 90 percent of the baby boomer population wished to
leave in their home as they grow older. Patients using personal emergency
response system have reported to have increased control over their life,
partially reduced dependency on others and more important is the peace of mind.
All these favorable factors continue to augment the growth of global personal
emergency response system.
The competitive landscape of the
global personal emergency response systems market is pretty stable right now
with limited players entering into the market. However, the increasing market
attractiveness is expected to drive more players into the market and intensify
the competition in the near future. These products are distributed both through
the retail channel as well as the institutional channel which involves direct
or indirect contract with hospitals and large group purchase organizations
(GPO). These systems are distributed into the market as a direct purchase
option or the service of product is offered on a monthly rental payment for the
device.
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Some of the key players in the
global personal emergency response systems market include Philips Lifeline,
Tunstall Healthcare, Life Alert Emergency Response, Inc., ADT LLC, and Numera,
Inc.
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