Fall Management Market Size Report 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.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Fall Management Market: Strategic Insights
Market Size Value in US$ 171.36 Million in 2021 Market Size Value by US$ 230.10 Million by 2028 Growth rate CAGR of 4.3% from 2021 to 2028 Forecast Period 2021-2028 Base Year 2021
Mrinal
Have a question?
Mrinal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Fall Management Market: Strategic Insights
| Market Size Value in | US$ 171.36 Million in 2021 |
| Market Size Value by | US$ 230.10 Million by 2028 |
| Growth rate | CAGR of 4.3% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
Mrinal
Have a question?
Mrinal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
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
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
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
North America region dominated the Fall management market in 2023
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 driving factors impacting the Fall management market
Technological advancements and rising investments in fall management devices are the future trends of the Fall management market
The leading players operating in the Fall management market includes 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., and TIDI Products, LLC among others
The estimated value of the Fall management market by 2031 is US$ 268.77 Mn
The expected CAGR of the Fall management market is 4.8%
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
Get Free Sample For