Fall Management Market Analysis and Forecast by Size, Share, Growth, Trends 2031

The Fall management market size is projected to reach US$ 268.77 million by 2031 from US$ 184.56 million in 2023. The market is expected to register a CAGR of 4.8% during 2023–2031. Technological advancements and rising investments in fall management devices are likely to remain key trends in the market.

Fall Management Market Analysis

The surging geriatric population prone to fall along with use of of multimodal technology in fall detection systems such as wearable sensors, ambient sensors, and vision devices are the major factors driving the market growth. Additionally, increasing R&D activities, product innovation and product launches along with increasing awareness about fall management among large population has careted the demand for fall management products. Moreover, strategies to expand presence in emerging markets creates lucrative opportunities in coming years.

Fall Management Market Overview

The fall management market is mainly driven by the surging geriatric population prone to fall along with use of of multimodal technology in fall detection systems. North America dominated the market owing to the more robust healthcare expenditure and services by healthcare facilities. Also, the presence of some of the leading market players has led to a larger share of the market in the US. The North American fall management market is expected to hold almost half of the global market share, with the presence of key market players and high demand for fall management products in region driving the market. Asia Pacific anticipated to register the significant growth due to the are the rising development of research studies across the countries in combination with advanced technologies related to sensors and monitoring devices of the fall management market. The countries such as Australia, India, and South Korea are estimated to serve various growth opportunities due to the rising geriatric population, improving economics and healthcare expenditures which have further aided deployment of fall management products. Increasing programs by government and other organizations to encourage the use and deployment of fall management products is likely to provide greater growth opportunities to the market players in the coming years.

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Fall Management Market: Strategic Insights

Fall Management Market

• 
  CAGR (2023 - 2031)

  4.8%
• Market Size 2023
  US$ 184.56 Million
• Market Size 2031
  US$ 268.77 Million

Market Dynamics

GROWTH DRIVERS

• The surging geriatric population prone to fall contribute market growth

FUTURE TRENDS

• Strategies to Expand Presence in Emerging Markets Creates Lucrative Opportunities

OPPORTUNITIES

• Technological advancements and rising investments in fall management devices are likely to remain key trends in the market

Key Players

• Medline Industries Inc
• Stanley Black Decker Inc
• Alimed Inc
• Curbell Inc
• Deroyal Industries Inc
• Emfit Ltd
• Personal Safety Corporation
• Rondish Company Limited
• Smart Caregiver Corporation
• TIDI Products LLC

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Product

• Sensor Pads
• Floor Mats
• RFID Tags

End User

• Hospitals and Clinics
• Nursing Homes

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Fall Management Market Drivers and Opportunities

Surge in Geriatric Population to Favor Market

The WHO has listed falling as one of the leading causes of death, and it may lead to immobility and admission to nursing homes in less severe cases. Moreover, the WHO reported that ~37.3 million falls occur every year that need medical support, and ~646,000 elderly people die from fall injuries. According to a report released by the Population Division of the United Nations, the geriatric population (with age 60 or above) of the world was ~600 million in 2021, and the number is further anticipated to reach 2 billion by 2050. The frequency of falling is greater among elderlies. As per the Centers for Disease Control and Prevention (CDC), ~33% of elderly people fall every year. As the number of cases of falls in the geriatric population is increasing, the demand for fall detection systems is growing across developing and undeveloped countries. The function of fall detection systems is based on five sensors—accelerometer, gyroscope, proximity, sensor, microphone, and GPS embedded in smartphones. With the coordinated operation of these sensors, the systems call for instant help and reduce risks, such as hypothermia, bronchopneumonia, dehydration, pressure sores, and post-fall anxiety syndromes, which could compromise any activity of daily living (ADL).

Strategies to Expand Presence in Emerging Markets Creates Lucrative Opportunities

With the elevating number of cases of falls in regions such as Asia Pacific, and South & Central America, companies in the fall management market have started to strategize their growth around these regions. Recently, deep learning has showcased promising performance in fall detection applications, with the use of conventional cameras. Companies such as Koninklijke Philips N.V., Lifefone, Connect America, AlertOne Services LLC, ADT Corporation, and Tunstall Healthcare Group Ltd. are expected to expand their presence in developing regions such as Asia Pacific, and South & Central America in the future through mergers and acquisitions, and strategic partnerships.

AliMed Inc. is considered as a primary job provider in the US, and its investments reflect its plans to expand further in the other regions such as the Middle East & Africa and Asia Pacific. The establishment of sale subsidiaries in South America and Asia Pacific by companies such as Medline Industries Inc., Personal Safety Corporation (PSC), and Rondish Company Limited shows their interest in setting up their operations and sales in these regions. Elevating national healthcare expenditures, increasing access to healthcare, and improving economics may lead to further innovations in fall detection systems and techniques in the markets that are in the primary stage of development.

Fall Management Market Report Segmentation Analysis

Key segments that contributed to the derivation of the Fall management market analysis are type, cause, disorder type, category, and end user.

• Based on product, the Fall management market is segmented into sensor pad, floor mat, and RFID Tag. The sensor pad segment held the largest market share in 2023.
• By end user, the market is segmented into hospitals and clinics, nursing homes, and others. The hospital and clinic segment held the largest share of the market in 2023.

Fall Management Market Share Analysis by Geography

The geographic scope of the Fall management market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.

North America has dominated the market owing to the owing to factors such as the more robust healthcare expenditure and services by healthcare facilities. Also, the presence of some of the leading market players has led to a larger share of the market in the US. The North American fall management market is expected to hold almost half of the global market share, with the presence of key market players and high demand for fall management products in region driving the market. Asia Pacific is anticipated to grow with the highest CAGR in the coming years.

Fall Management Market Report Scope

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Fall Management Market News and Recent Developments

The Fall management market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the Fall management market are listed below:

• Stryker introduced Prime Connect—the first smart, connected hospital stretcher designed to support fall prevention protocols from anywhere in a facility—at the Emergency Nursing 2023 event in San Diego, Calif. (Source: Stryker, Company Website, September 2023)
• AT&T collaborated with Cherish Health to create a claimed “industry first” radar device capable of detecting emergency conditions and monitoring people who are at risk of falling. The device is designed to help older generations live more independently while retaining some privacy. (Source: AT&T, Press Release, April 2023)

Fall Management Market Report Coverage and Deliverables

The “Fall Management Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Fall management market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Fall management market trends as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Fall management market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the Fall management market
• Detailed company profiles