Global Fall Detection Systems Market, by Product Type (Automated Detection Systems and Manual Detection Systems), by Sensing Modalities (Wearable ( Watches, Necklace and Clip to Garment), Non Wearable (Floor Sensors, Wall Sensors and Cameras), by Technology (GPS System, Mobile Phones and Sensors), by Component (Accelerometer & Gyroscope, Unimodal Sensors and Multimodal Sensors), by End User (Home Care Settings and Senior Assisted Living Facilities), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 5,849.3 Million in 2022 and is expected to exhibit a CAGR of 9.4% during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.
Increasing prevalence of various chronic diseases such as Alzheimer’s disease, dementia, cardiovascular diseases, chronic obstructive pulmonary disease, (COPD) and diabetes are expected to drive the market growth over the forecast period. For instance, according to World Health Organization (WHO), the prevalence of chronic obstructive pulmonary disease (COPD) was 3.23 million in 2019.
Global Fall Detection Systems Market– Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdown in several regions. Private healthcare is one such sector that has been impacted significantly by the COVID-19 pandemic. COVID-19 had a detrimental effect on the market for fall detection systems. The global fall detection system market was substantially impacted by the epidemic that restricted market growth. Adoption of the worldwide lockout had an impact on manufacturing industries' production schedules. Sales plummeted during the lockdown, which had an effect on the sales ratio and the quantity of deliveries. After the outbreak, however, because the earlier restrictions have been relaxed, the market will begin to grow once more.
Global Fall Detection Systems Market: Key Developments
Key players in the market are offering smart watches with fall detection system. For instance, Apple Watch 5 has inbuilt watch detection. The watch automatically calls 911 (in the U.S.) if it cannot detect movement or input after a minute.
Key players in the market are also focused on developing fall detection technology that is based on Wi-Fi. For instance, in December 2019, Origin Wireless, which is a technology company announced the launch of Origin Health, a new wireless AI WiFi sensing software platform that enables remote monitoring and fall detection.
Browse 52 Market Data Tables and 41 Figures spread through 156 Pages and in-depth TOC on “Global Fall Detection Systems Market”- Forecast to 2030, Global Fall Detection Systems Market, by Product Type (Automated Detection Systems and Manual Detection Systems), by Sensing Modalities (Wearable ( Watches, Necklace and Clip to Garment), Non Wearable (Floor Sensors, Wall Sensors and Cameras), by Technology (GPS System, Mobile Phones and Sensors), by Component (Accelerometer & Gyroscope, Unimodal Sensors and Multimodal Sensors), by End User (Home Care Settings and Senior Assisted Living Facilities), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/fall-detection-systems-market-3213
Moreover, increasing prevalence of various chronic diseases such as Alzheimer’s disease, dementia are expected to drive the market growth over the forecast period. For instance, according to an article published in May 2022, on Alzheimer Association, the number of Americans with Alzheimer's disease is rising quickly and approximately Alzheimer's disease affects more than 6 million Americans of all ages.
Key Takeaways of the Global Fall Detection Systems Market:
- The global fall detection systems market is expected to exhibit a CAGR of 9.4% during the forecast period due to the increasing product launch. For instance, according to data published on 16 May 2022, Kami Vision, which is the computer vision company that provides Artificial Intelligence (AI) solutions to enterprise, and consumers, introduces KamiCare, which is a Fall Detection Technology for Senior Living Facilities.
- Among technology, GPS segment is estimated to hold a dominant position in the global fall detection systems market over the forecast period, owing to the increase in the technology advancement. For instance, in April 2019, Garmin Forerunner 45 smartwatch, which has in built GPS system, was launched by Garmin, which delivers innovative GPS technology across diverse markets, including aviation, marine, fitness, outdoor recreation, tracking and mobile apps.
- On the basis of End User, Home Care Settings segment is estimated to account for the largest market share in the global fall detection systems market over the forecast period, owing to increasing chronic diseases. For instance, according to data published in June 2022, on World Health Organization (WHO), stated that, globally, the prevalence of Parkinson disease (PD) has doubled in the past 25 years with global estimates in 2019 was over 8.5 million individuals living with Parkinson disease (PD).
- Major players operating in the global fall detection systems market include Koninklijke Philips N.V., LifeWatch USA, Tunstall, Apple Inc., ADT Security Services, Medical Guardian LLC, MobileHelp, Bay Alarm Company, MariCare Oy, Origin Wireless, The ADT Corporation, Singapore Technologies Electronics Limited, Semtech Corporation.
