23 August 2022
Douglas Insights has further expanded its comparison engine with Fall Management Market research reports, allowing market researchers, analysts, industry experts, and businesses to identify market trends, drivers of growth, limitations, obstacles, and predictions. Douglas Insights is the world's first comparison engine for market research reports. With access to the widest range of market reports, both private and public market reports, the digital tool lets researchers compare various reports by Publisher Rating, Table of Contents, Date of Publication, and Price.
With steady predicted growth over the next few years, the worldwide fall management market is expected to expand considerably from 2018. Injuries sustained in falls are the leading cause of hospitalization for the elderly. This is because age-related illnesses, such poor eyesight and memory, are becoming more common, causing people to lose muscle mass and become physically weaker. In addition, the risk of falling is increased by the use of some medicines (particularly psychiatric drugs), which may have a negative impact on everyday functioning. The purpose of fall management is to keep people as mobile as possible while minimizing their risk of injury and falling.
The market may be broken down by submarkets like sensory mats, floor pads, and RFID tags. In 2020, sensor pads accounted for the highest proportion of the global market, and analysts predict that trend will continue during the forecast period of 2021-2028.
One of the key reasons for market expansion is the rising prevalence of accidents among the elderly. More than ninety-five percent of hip fractures occur as a result of a fall, sending at least 300,000 seniors to the hospital every year. As a result, the need for fall control systems is being driven by the increasing incidence of falls among the elderly.
Because of its growing elderly population, North America led the global market in 2018 and this trend is likely to continue during the forecast period. The expansion of the fall prevention market in the United States is predicted to be driven by the growing demands for fall frameworks to enhance the quality of life, as well as the increased acceptance of technologically sophisticated systems in daily life. The increasing number of elderly people living in the United States, Canada, and Mexico is also helping to propel the development of the fall management industry in North America.
In 2018, the market was dominated by a small group of firms, including Curbell, Deroyal, Emfit Ltd., PSC, Medline Industries Ltd. and Rondish Company Ltd.
The development of fall detection systems with the patient in mind has allowed for more accurate remote monitoring of long-term patient health. The proliferation of smartphones and other portable electronics has provided a fertile environment for the development of fall detection technology. Improvements in technology are having a profound effect on the sale of fall detection devices.
The growth is expected to be stymied by the products' prohibitively high prices. Subscription costs make it less likely that people in developing countries will be able to utilize these gadgets. In addition, the development of the business might be harmed by the fact that certain fall detection systems now on the market are not entirely trustworthy. Despite the rising incidence of falls throughout the world, especially in developing nations, there is little to no awareness that's stifling industry expansion. It's further hindered by the absence of expertise and resources in several developing nations.
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The market for point of care diagnostics has been greatly boosted by the rising frequency of chronic diseases and the rising demand for speedy testing, and this trend is anticipated to continue during the predicted period.
Although some global markets flourished, including pharmaceuticals, healthcare, and online shopping, they were a handful, considering most of the international markets nearly collapsed. Sales and profitability took a nosedive as these sectors faced extensive restraints due to broken supply chains, restricted logistic conditions, lack of trade, and reduced consumer spending.
The global clinical trials management systems market has seen a rapid surge in demand over the years. It will continue to see an upward trend due to various imperative factors gradually.
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