According to a new report published by Allied Market Research, titled, “Global Fall Management Market by Product and Application: Opportunity Analysis and Industry Forecast, 2019–2026,” the global fall management market garnered $152.46 million in 2018 and is estimated to reach $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.
The growth of the global fall management market is driven by rise in incidence of disabilities that result from non-communicable diseases, favorable healthcare reforms, and rapid growth in geriatric population coupled with increase in prevalence of chronic diseases. However, high maintenance expense of fall management products is expected to restrain the growth of the global market. On the contrary, surge in a demand of the fall management products and changing fall management market trends boosts the market growth.
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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.
Key Findings of the Study:
- Region wise, North America fall management market size is expected to be the largest in 2018.
- Floor mat segment is anticipated to grow with the highest CAGR throughout the forecast period.
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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