Medical Alert Systems Market Foreseen To Increase Exponentially By 2030
Medical Alert Systems Industry The global medical alert systems market size was estimated at USD 9.3 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 6.4% from 2023 to 2030 . Several factors are contributing to the market's growth, including the rise in the aging population, improvements in healthcare infrastructure, and advancements in technology. A report published by the World Health Organization (WHO) in October 2022 highlighted that by 2030, one in six people globally is expected to be aged 60 or older. The elderly population is projected to increase further, reaching approximately 1.4 billion people by 2030. As the elderly population continues to grow, there is a corresponding increase in the demand for medical alert systems, especially for use in homes where older adults reside. Among the various risks faced by seniors, falls are particularly concerning. According to the American Hospital Association, over one...