Medical alert systems are growing in popularity as the current health crisis makes it difficult to have physical contact with older adults. “In this era of the coronavirus pandemic, they [med alert systems] can be a tool deployed to bridge the tech/touch divide,” said Anne C. Sansevero, Founder of HealthSense and member of the Aging Life Care Association.
Advanced Technology, An Aging Population & Stay-At-Home Orders Contribute To Medical Alert Demand
The global medical alert market is expected to experience a CAGR of 14%, rising from roughly $6 billion in 2020 to $11.7 billion by 2025. Several factors have contributed to this boom in med alert business, including innovative technology, the rise of the elderly population across the globe and the current health crisis.
An increasing number of medical alert brands are utilizing new technologies in their medical alert systems in order to become more effective, minimize risk and offer the easiest, most up-to-date options for consumers. The introduction of smart wearable devices, GPS tracking, built-in fall detection sensors and the implementation of AI and IoT continue to be major focus areas for technological advancements. These innovations allow for members of the older generation to have medical alert monitoring wherever they go, not just in their own homes. And, because the aging-alone segment continues to grow, older adults will likely continue depending on apps and similar tech devices to feel at ease and more connected.
The COVID-19 pandemic has made it difficult for much of the population to check up on their older relatives. A recent study found that medical alert systems could significantly help in easing consumers’ minds during these uncertain times. And, as more of the population enters into older age, experts predict that sales of these systems will continue to climb.
The Medical Alert Industry Welcomes A Newcomer: Snug Safe
The newest player in the medical alert industry, Snug Safe, entered the scene in a major way. Relying heavily on the benefits of a mobile app, Snug Safe received an abundance of positive feedback from users, with 93% of the retirees who tested Snug Safe stating they felt more secure, and 90% saying they would recommend the Snug Safe app to others.
Each Snug Safe subscriber simply sets up an account, chooses their emergency contacts and selects their daily check-in time. The app then sends the user an alert at their chosen check-in time each day. Once the alert is received, the subscriber opens the app, taps the green button to signal “all is well,” and the 24-hour timer resets. If the subscriber fails to respond, the app initiates an alert, sending each emergency contact a text message saying the user has missed their check in. If the user does not check in by a certain time, and a dispatcher does not receive confirmation from an emergency contact that everything is okay, the app automatically dispatches a wellness check to the user’s last known location.
Best Buy Health Launches Its Own Medical Alert App & Wearable: Lively
Best Buy Health recently launched its new “Lively” app and “Lively Wearable2” medical alert device to help older adults live safely, actively and independently. The Lively mobile app provides users with straightforward, one-touch access to emergency services, while the wearable connects via Bluetooth to the Lively app, through which a user can access their medical history, daily step count data and health tips. The Lively app can also be used to connect with emergency response teams, and it will automatically notify selected family members and caregivers when an emergency takes place.
The Lively app and coinciding medical alert device is the latest addition to Best Buy’s growing collection of consumer health technology. In the last year alone, Best Buy has steadily expanded its footprint, devoting nearly $1 billion toward acquisitions in the consumer health sector, and Best Buy is forecasted to generate up to $46 billion in revenue from its commercial health business.
Many baby boomers and members of older generations are becoming increasingly comfortable using technology, and the vast majority of those generations already use smartphones or similar tech devices for a multitude of reasons. Now, as these generations increasingly move into the age range where an additional safety device is often a consideration, an app-based system or wearable option like Snug Safe or Lively is likely to be a top choice.
For medical alert brands looking to attract today’s baby boomers and growing population of older adults, advanced technology and easy-to-use, innovative solutions are key to growing brand awareness and new customers. And, with much of the world - especially seniors - still being advised to stay in their homes, this could be an ideal time for medical alert marketers to target a more niche, yet growing, audience.
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About the AuthorMore Content by Carolyn Harding