The medical alert systems market is expected to grow from USD6.8 billion in 2021 to USD 11.1billion by 2026; it is expected to grow at a CAGR of 10.3% during the forecast period.The medical alert systemsmarket has been witnessing significant growth over the past years, mainly owing to the ongoing technological advancement in medical alert systems.

The hardware segment is expected to grow with the highest CAGR in the forecast period. The hardware is a physical device that allows seniors to maintain an active lifestyle as long as possible. The hardware segment includes in-home devices, on-the-go devices, and in-home and yard devices. These devices include the base or console unit and the transmitter, which is usually in the form of a pendant that can be worn around the neck or a wristband. The transmitter sends the emergency signal to the base station whenever a user presses the “help” button or whenever a fall is detected. The base station, in turn, contacts the monitoring service centers with the help of a landline or by using a cellularnetwork. The monitoring service center contacts the user and assesses the severity of the situation, and accordingly delivers emergency services.

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Based on applications, assisted living facilities is expected to have the highest CAGR in theforecast period.
Facility-based care services include assisted living centers for the long-term care of senior citizens suffering from various illnessessuch asAlzheimer’s or dementia. These facilities provide personal care, medical services, and housing and housekeeping facilities to the residents. People in assisted living centers need daily care. The use of medical alert systems in such a setup is quite popular as it is less expensive than other facilities. Residents at such living centers can use medical alert systems to receive assistance in an emergency. Apart from older adults, individuals who need special care (individuals requiring assistance for medical, mental, or psychological disabilities) can use medical alert systems.

The medical alert system market in North America is expected to have the highest market sizeduring the forecast period. US and Canada are some of the key countries driving market growth in North American region.

Key players in the regionare grabbing opportunities by launching new products. Besides, product launches, partnerships, expansions, and acquisitionswere a fewof the other strategies adopted by companies in this market to strengthen their market position.