Pune India, Jan. 27, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the Fall Detection Systems Market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the Fall Detection Systems Market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as product type, technology, system, end-user, and regions. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the global fall detection systems market are Tunstall Group, Koninklijike Phlips N.V., Medical Guardian LLC., Connect America, SafeGuardian Medical Alarms & Help Alert Systems, Bay Alarm Medical, LifeFone Medical Alert Services, LifeStation, Inc., ST Engineering, AlertONE Service Inc., Walgreen Company, Semtech Corporation, Rescue Alert, Galaxy Medical Alert Systems, Care Innovations, LLC, and MobileHelp.among others. To achieve a substantial market share in the worldwide industrial safety gloves market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
When a fall detection system detects an accidental fall, emergency services will be notified. Fall detection systems are designed especially for the elderly population. This system consists of two main parts: the wearable gadget, and the smartphone, which sends an alarm when the wearable gadget detects a fall to the mobile phone, which then informs the user's emergency contacts. According to the World Health Organization, the number of people suffering from dementia is expected to reach 65.7 million by 2030 due to the prevalence of chronic diseases such as dementia, chronic obstructive pulmonary disease, diabetes, Alzheimer's disease, and others, which is driving the growth of the market. Global fall detection systems market growth is likely to be hindered by the high cost of fall detection systems. Additionally, fall detectors offered by various market players do not provide 100% accurate detection of sliding falls, so high subscription costs may inhibit their adoption in emerging economies, all these factors will hamper the growth of the market during the forecasted period and in the future.
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Scope of Fall Detection Systems Market Report:
|Market Share Unit||USD Million|
|Segments Covered||Product Type, Technology, System, End-User, and Regions.|
|Regions Covered||North America, Europe, Asia-Pacific, South America, and Middle-East and Africa|
|Major Players||Tunstall Group, Koninklijike Phlips N.V., Medical Guardian LLC., Connect America, SafeGuardian Medical Alarms & Help Alert Systems, Bay Alarm Medical, LifeFone Medical Alert Services, LifeStation, Inc., ST Engineering, AlertONE Service Inc., Walgreen Company, Semtech Corporation, Rescue Alert, Galaxy Medical Alert Systems, Care Innovations, LLC, and MobileHelp.among others|
Automatic fall detection is expected to be the fastest-growing segment in 2022.
The product type segment is divided into automatic fall detection systems and manual fall detection systems. The automatic fall detection segment is expected to witness the highest growth rate during the forecast period. This type of system monitors a person's daily activities, identifies falls when they occur, and then alerts the career. It consists of several accelerometers and processors that can tell the difference between normal activity and a fall.
Mobile phones are expected to be the fastest-growing segment in 2022.
The technology segment is divided into GPS systems, mobile phones, and sensors. The mobile phone segment is expected to witness the highest growth rate during the forecast period. Smartphone penetration is expected to drive segment growth. Demand for smartphones and wearable technology is due to easier assistance in case of a fall, and lower medical costs are driving the segment growth.
Wearable systems are expected to be the fastest-growing segment in 2022.
The system segment is divided into wearable systems, non-wearable systems, in-home landline systems, and in-home cellular systems. The wearable systems segment is expected to witness the highest growth rate during the forecast period. It is preferred to use wearable sensors instead of sound to detect falls during routine activities, some detection systems use either a gyroscope or an accelerometer, while others use both, the rising demand for wearable systems among consumers is boosting the growth of the market.
Hospitals and senior assisted living facilities are expected to be the fastest-growing segment in 2022.
The end-user segment is divided into home care settings, hospitals and senior assisted living facilities, lone workers, and others. The hospitals and senior assisted living facilities segment is expected to witness the highest growth rate during the forecast period. There aren't enough staff to take care of senior citizens all the time in hospitals and assisted living facilities, so fall detection systems are an important component of the care of senior citizens. By monitoring their activities and keeping track of their falls and slips, seniors can stay on top of their falls and slips.
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the fall detection systems market include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
The North American region witnessed a major share. In the forecast period, the fall detection system market is expected to grow significantly, mainly due to factors such as the growing geriatric population and the growing adoption of wearable technology by consumers. The fall detection system market in the region is also expected to be driven by the rising penetration of smartphones.
Germany's fall detection systems market size was valued at USD 421.14 million in 2022 and is expected to reach USD 876.8 million by 2030, at a CAGR of 9.6% from 2023 to 2030.
Artificial intelligence technology is largely responsible for the market's expansion in China. In addition, global brands are present in the country, contributing a large share of the country's market growth.
China's fall detection systems market size was valued at USD 456.2 billion in 2022 and is expected to reach USD 963.7 million by 2030, at a CAGR of 9.8% from 2023 to 2030.
It is expected that the market's development rate will continue to increase due to consumer preference for healthcare systems and the growing need for equipment quality assessment. R&D capabilities and the increased use of accelerometers and gyroscopes are other key factors influencing market expansion.
India's fall detection systems market size was valued at USD 350.9 million in 2022 and is expected to reach USD 735.9 million by 2030, at a CAGR of 9.7% from 2023 to 2030.
A major factor driving the fall detection system market is the increasing number of geriatrics in the country. Falls are known as one of the biggest health problems of the elderly, and the injuries that result from falls in elderly people are costly to their families and healthcare systems as a result of which fall detection systems are in demand.
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven owing to the rising geriatric populations and rising awareness about the fall detection system's benefits, propelling the growth of the market across the countries.
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