According to a new report published by Allied Market Research, titled, โFall Management Market: Global Opportunity Analysis and Industry Forecast, 2019-2026โ Falls and fall-related injuries are the most common and serious medical concerns experienced by aged people. This is attributed to increase in prevalence of age-related disorders such as impaired vision and impaired cognition, which reduce strength and significantly affect physical condition. In addition, certain medications (especially psychotropic drugs) are associated with a higher risk of falls, which reduce activities of daily living. Goals for fall management include minimize the risk of injury, reduce the chances of falling, ensure ongoing follow-up, and maintain the highest possible level of mobility.
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Surge in incidence of disabilities, favorable healthcare reforms, and rise in geriatric population coupled with increase in prevalence of chronic diseases act as the key factors that significantly contribute toward the growth of the global fall management market. For instance, according to WHO, the global population aged 60 and above is projected to reach 2 billion individuals by 2050.
The global fall management market is segmented into product and region. Depending on product, the fall management market is divided into sensor pad, floor mat, and RFID tag. Region wise, it is studied across North America, Europe, Asia-Pacific, and LAMEA.
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Asia-Pacific region is anticipated to grow at the fastest CAGR during the forecast period. This is attributed to presence of large population base in the region. Moreover, the geriatric population is growing at an unprecedented rate in the region, which augments the demand for fall management devices, thereby contributing toward the fall management market growth. This is attributed to rise in prevalence of age-related disorders such as weak eyesight and poor hearing condition, which increase the risk of fall and fall-related injuries among the geriatric population. As per the United Nations Fund for Population Activities (UNFPA), by 2050, approximately 1.3 billion population will be aged over 60 in the Asia-Pacific region.
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- The fall management market size and estimations are based on a comprehensive analysis of key developments in the fall management industry.
- The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the global fall management market.
- The study provides an in-depth fall management market analysis of the market and current & future fall management market trends to elucidate the imminent investment pockets.
- Information about key drivers, restrains, and opportunities and their impact analyses on the market size is provided.
- Porterโs five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
- It offers a quantitative analysis of fall management market forecast from 2019 to 2026, which is expected to enable stakeholders to capitalize on prevailing fall management market opportunities.
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Key Market Players
- 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., (Stanley Healthcare)
- Tidi Products, Llc (J.T. Posey Company)
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