The global medical alert system industry is a profitable one. According to Alexa Reports, a company specializing in providing personalized market research reports, this industry’s worth was estimated to be $1.71 billion in 2017. Furthermore, the same company estimates that this will increase to $3.32 billion by 2025.
The reason this niche is so profitable and expected to grow is that more and more seniors want to live independent lives and life expectancy is increasing everywhere on the globe, especially in the U.S.
Medical alert systems provide elderly individuals with a reasonably priced solution enabling them to receive the assistance they need in case of an emergency when living alone or with their spouses, all in the comfort of their own homes.
Medical Alert Systems: What’s Next?
Groundbreaking technology in the medical alert system niche includes the use of smart devices that help make seniors’ lives more independent, easier, and more stress-free. These systems are already on the market in the form of smartwatches, produced by companies like Samsung or QMedic.
Most of the times, these smartwatches do not only provide the functions of regular smart devices that record the wearer’s activity level, steps taken during the day, or sleep hours, but they’re also designed to get in touch with the monitoring unit if an emergency is being signaled or detected.
The Use of Apps and Personal Emergency Response Systems
In the future, it is more than likely that today’s millennials will be using plenty of improved apps to safeguard themselves when retired. Some of these apps already exist, enabling users to get in touch or be contacted by a monitoring service in case of an emergency.
Some examples are Bugle, which is used for iOS devices, bSafe – for iOS and Android ones, or ICE, which can be used on iOS as well as Android devices. Mind you, at present, these apps are not perfect, therefore it is always better to contact 911 first, should an emergency occur.
The Present Challenges
Currently, medical alert systems and medical alert smartwatches do face certain challenges. The most obvious ones are convincing a senior loved one that they should actually wear them. A lot of times, the elderly feels they don’t need them or that it makes them seem older than they are or feel.
Then, especially when it comes to smartwatches, there is the issue of them being a bit tricky to learn how to use. Our seniors are used to simpler technology and are not as tech-savvy as we or even our children are. And that’s why sometimes they might even refuse to learn something new, especially if it is complicated and it involves using many apps and functions.
Finally, there is the issue of pricing. While simple, indoor medical alert systems are pretty much affordable for anyone living in the U.S., it’s another story when it comes to more comprehensive devices. Ones that offer features like outdoor tracking, fall detection, monitoring someone’s training activities, daily or monthly tracking of one’s physical activity progress, sleep monitoring and reports, and so on usually come at a higher price that not everyone can afford. In the future, we hope to see more complex medical alert devices become cheaper and more affordable so that anyone can enjoy their benefits.
In a time of ever-evolving technology, medical alert systems are expected to keep up with modern developments. This includes being more adapted to smart technology. It not only means that seniors will have greater activity monitoring possibilities, but also more accurate detection of any health problems and having access to immediate help if needed.
Best Medical Alert Systems of 2020
|Editor's Choice 2020|