US Personal Emergency Response Systems Market - Focused Insights 2023-2028

The US personal emergency response systems (PERS) market is witnessing transformative growth, underpinned by heightened awareness among elderly adults, increased prevalence of chronic diseases, and higher risk of fall injuries. With a significant rise in the geriatric population living independently, the demand for PERSs is skyrocketing. The market, valued at $2.49 billion in 2022, is projected to almost double, reaching $4.44 billion by 2028, growing at a steady CAGR of 10.13%.

The American populace has embraced smartphone technology like never before, with penetration reaching an all-time high. This, coupled with the exponential growth of the wearable health device industry, further fuels market expansion.

PERSs are increasingly seen as a lifeline for elderly adults and differently-abled individuals, enabling them to summon help effortlessly during emergencies. The mobile-based PERS segment has been the key market driver, commanding a 57.08% market share in 2022, and is forecast to grow at a robust CAGR of 10.67%.

Simultaneously, homecare agencies are leading in terms of end-user demand, with a market share of 31.05% in 2022, and are expected to grow at a CAGR of 10.36% during the forecast period. This can be attributed to the burgeoning aging population and the surge in demand for assisted living systems and homecare agencies in the US.

Regarding regional demand, the Western US holds the lion's share, with 40.93% of the market in 2022. The segment is set to grow at a CAGR of 10.50% due to a substantial aging population and an increased demand for assisted living systems in the region.

The US PERS market is a bustling epicenter of competition, with several global juggernauts vying for dominance, each offering an eclectic array of products. Leading this dynamic market are key players such as Connect America, Modivcare, ADT Corp, Medical Guardian, and Bay Alarm Medical.

these dominant players are pursuing acquisitions, licensing deals, and collaborations with emerging players to maintain their market stronghold. This facilitates their entry into the PERS market and grants them access to a raft of commercially launched products.

New entrants, spanning small and mid-sized companies, are making waves, seizing the growing market opportunities presented by this digitized healthcare paradigm.

With these remarkable growth factors in play, the US PERS market presents a lucrative investment opportunity, pushing the boundaries of health tech and elder care to greater heights.