Fall Management Market Insights - Qualitative Analysis, Innovative Product Facilitates & Strategic Business Planning
November 25, 2021
PORTLAND, OR, UNITED STATE, November 25, 2021 /EINPresswire.com/ -- Increase in geriatric population across the globe, and rise in prevalence of chronic diseases drive the growth of the global fall management market. However, lack of awareness regarding fall management system hinders the market growth. On the other hand, increase in demand for fall detection systems present new pathways for growth in coming years.
"Fall Management Market by Product (Sensor Pad, Floor Mat and RFID Tag): Global Opportunity Analysis and Industry Forecast, 2019–2026" According to the report, the global fall management market generated $152.46 million in 2018, and is estimated to generate $216.82 million by 2026, growing at a CAGR of 4.5% from 2019 to 2026.
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Fall management involves preventive actions, which assist to minimize the risk of accidental falls among the geriatric population and to prevent injuries. Falls and fall-related injuries are prevalent medical issues experienced by elderly people. Products used in fall management include sensor pad, radio frequency identification (RFID) tag, and floor mat.
Depending on product, the sensor pad garnered a major fall management market share in 2018, and is anticipated to continue this trend during the forecast period. This is attributed to increasing usage of sensor pads for fall management alarm in conjunction with senior care alarms to notify the nurse.
The sensor pad segment to continue its leadership position during the forecast period
Based on product, the sensor pad segment contributed to more than half of the total share of the global fall management market in 2018, and is expected to continue its leadership position during the forecast period. In addition, the segment is expected to register the highest CAGR of 4.69% from 2019 to 2026, owing to surge in incidence of disabilities, favorable healthcare reforms, rise in geriatric population, and increase in prevalence of chronic diseases.
Asia Pacific, followed by North America, to maintain the lead status during the forecast period
Based on region, Asia Pacific contributed to the largest share in terms of revenue, accounting for more than one-third of the global fall management market in 2018, and is projected to maintain the lead status during the forecast period. Furthermore, the region is estimated to grow the fastest CAGR of 5.59% from 2019 to 2026, owing to increase in adoption of several fall management devices such as sensor pad, and RFID tags among the Asian population. On the other hand, North America contributed to the second largest revenue share in 2018, accounting for nearly half of the total market share.
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Leading market players:-
Comprehensive competitive analysis and profiles of major market players such as Alimed, Inc., Curbell, Inc., Deroyal Inc., Emfit Ltd., Medline Industries, Inc., Personal Safety Corporation (PSC), Rondish Company Limited, Smart Caregiver Corporation, Stanley Black & Decker, Inc., and Tidi Products, LLC.
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