The fall management market is expected to reach US$ 630.50 million by 2031 from US$ 218.42 million in 2023; the market is estimated to grow at a CAGR of 14.2% during 2023–2031. Major factors driving the market growth include surge in cases of falls and increasing preference for home care. Further, awareness programs for fall prevention is likely to boost the market during the forecast period. However, lack of trained physicians among the market deterrents.
The fall management market is expected to grow with the soaring awareness of the necessity of fall prevention among healthcare providers, patients, and families. According to an article published in PubMed Central in July 2021, the number of grantees in the evidence-based fall prevention programs (EBFPPs) by the Administration for Community Living reached over 85,000 older adults during 2014-2019. Participation in the EBFPPs led to improved confidence, decreased fear of falling, and a reduction in both falls and injurious falls. Additionally, educational campaigns emphasizing the risk of falls and the significant repercussions have motivated healthcare facilities to emphasize fall prevention programs. The CDC launched the STEADI (i.e., Stopping Elderly Accidents, Deaths, and Injuries) initiative in 2012 to help healthcare providers prevent falls in older adults. This program focuses on delivering fall risk assessment tools, patient education materials, and evidence-based intervention strategies to healthcare providers. The CDC works with healthcare facilities to identify at-risk patients and promote measures such as exercise programs and home safety assessments to reduce fall incidents through community engagement and provider training.
In April 2024, Connect America, a leader in virtual care solutions, launched a fall prevention program to assist older adults and all those suffering from chronic conditions to live safely in their homes. This comprehensive program focuses on identifying and predicting fall risks while providing education and support to reduce fall cases among aging and at-risk populations. Therefore, the change toward proactive care highlights the importance of efficient fall management systems, ultimately creating market prospects for businesses that offer novel products designed to fulfill these growing expectations.
The comparative company analysis evaluates and categorizes the fall management market based on product portfolio (product satisfaction, product features, and availability), recent market developments (merger & acquisition, new product launch & enhancement, investment & funding, award, agreement, collaboration, & partnership, recognition, and expansion), and geographic presence that aids better decision-making and understanding of the competitive landscape. The report profoundly explores the recent significant developments and innovations by the leading vendors in the global fall management market. The key market players are Alimed Inc, Curbell, Inc, DeRoyal Industries Inc, Emfit Ltd, Rondish Company Limited, Smart Caregiver Corporation, TIDI Products, LLC, Securitas AB, Stryker Corp, Alerta Medical Ltd, Medtec Medical, Inc, Bay Alarm Medical, Personal Safety Corporation, SafelyYou, Guardman Products Limited, SensorCare , Tunstall Integrated Healthcare group, Medline Industries Inc, Vayyar Care, Crest Healthcare
Based on product, the fall management market is segmented into sensor pads, floor mat, hip protectors, alert systems, communication devices and other products. In 2023, the alert systems segment held the largest share of the market. Based on application, the fall management market is segmented into fall detection systems, fall prevention equipment and post-fall monitoring and response systems. In 2023, the fall detection systems segment held the largest share of the market. Based on age group, the fall management market is segmented into elderly population (65 and above years) and adults (18-64 years). in 2023, the elderly population (65 and above years) segment held the largest share of the market. Based on end user, the fall management market is segmented into Hospitals and clinics, nursing home, home care settings and other end users. In 2023, the hospitals and clinics segment held the largest share of the market.
Various organic and inorganic strategies are adopted by companies operating in the Fall Management Market. The organic strategies mainly include product launches and product approvals. Inorganic growth strategies witnessed in the market are acquisitions, collaboration, and partnerships. These growth strategies allow the market players to expand their businesses and enhance their geographic presence, along with contributing to the overall market growth. Furthermore, strategies such as acquisitions and partnerships helped strengthen their customer base and extend their product portfolios. A few of the significant developments by key players in the Fall Management Market are listed below.
In October 2024, Bay Alarm Medical, a leading medical alert systems company, released of its new SOS Micro mobile alert system. The system is an update to the company's popular medical alert offerings, but features newer, smaller hardware
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