Fall Management Market Size, Share, Competitive Landscape and Trend Analysis Report by Product : Global Opportunity Analysis and Industry Forecast, 2019-2026

The global fall management market garnered $152.46 million in 2018, and is estimated to reach $216.82 million by 2026, growing at a CAGR of 4.5% from 2019 to 2026. Falls and fall-related injuries are the most common and serious medical concerns experienced by aged people. This is attributed to increase in prevalence of age-related disorders such as impaired vision and impaired cognition, which reduce strength and significantly affect physical condition. In addition, certain medications (especially psychotropic drugs) are associated with a higher risk of falls, which reduce activities of daily living. Goals for fall management include minimize the risk of injury, reduce the chances of falling, ensure ongoing follow-up, and maintain the highest possible level of mobility.

Fall management reduces the risk of falls and fall-related injuries along with maintaining and ensuring highest level of mobility. As per the data published by WHO, in 2018, falls are second leading cause of accidental deaths across the globe. Approximately 646,000 individuals die from falls worldwide. Adults older than 65 years of age registered to suffer from highest number of falls. Around 37.3 million falls need medical consideration each year. 

Surge in incidence of disabilities, favorable healthcare reforms, and rise in geriatric population coupled with increase in prevalence of chronic diseases act as the key factors that significantly contribute toward the growth of the global fall management market. For instance, according to WHO, the global population aged 60 and above is projected to reach 2 billion individuals by 2050. In addition, factors such as favorable reimbursement policies, and technological innovations in the field of fall management have propelled the adoption of fall management products, thereby driving the growth of the market.

Global Fall Management Market Segmentation

The global fall management market is segmented into product and region. Depending on product, the fall management market is divided into sensor pad, floor mat, and RFID tag. Region wise, it is studied across North America, Europe, Asia-Pacific, and LAMEA.

Segment review

On the basis of product, the sensor pad segment was the highest contributor to the market, as they are available in various types such as floor sensor pads, bed sensor pads, and chair sensor pads. Sensor pad acts as a key tool that assists in the prevention of falls. These pads are intended to alert staff and patients during the patient attempts to leaves the wheelchair or bed. Fall management sensor pad is used in conjunction with senior care alarms to notify the nurse. Bed sensor pad and chair sensor pad are the two types of sensor pads available in the market. Furthermore, they are wireless and are mostly preferred for patients suffering from dementia. The floor mat segment is also expected to grow at a lucrative CAGR during the forecast period since these floor mats provides protection to the patient in the event of a fall from a wheelchair, bed, gurney, or recliner. These mats are ideal for use in home as well as hospital settings, as they are flexible, lightweight, and are easy to handle & store.

Region Segment review

North America dominated the fall management market in 2018, and is expected to continue this trend throughout the forecast period, owing to increase in geriatric population in the region. In addition, surge in demand for fall management systems for improved quality of life and rise in adoption of technologically advanced systems in day-to-day lives are expected to drive the growth of fall management market in the U.S. Moreover, one of the major factors driving the growth of North American fall management market is upsurge in geriatric population across the U.S., Canada, and Mexico. However, Asia-Pacific region is anticipated to grow at the fastest CAGR during the forecast period. This is attributed to presence of large population base in the region. Moreover, the geriatric population is growing at an unprecedented rate in the region, which augments the demand for fall management devices, thereby contributing toward the fall management market growth. This is attributed to rise in prevalence of age-related disorders such as weak eyesight and poor hearing condition, which increase the risk of fall and fall-related injuries among the geriatric population. As per the United Nations Fund for Population Activities (UNFPA), by 2050, approximately 1.3 billion population will be aged over 60 in the Asia-Pacific region. This rise in number of elderly people acts as key driver of the market, as they are highly susceptible to falls and fall-related injuries, which augments the demand for fall management services. In addition, the growth of the Asia-Pacific fall management market is majorly propelled by increase in adoption of fall management devices such as sensor pad and RFID tags among the Asian population.

The report provides an extensive competitive analysis and profiles of the key market players such as Alimed, Inc., Curbell, Inc., Deroyal Inc., Emfit Ltd., Medline Industries, Inc., Personal Safety Corporation (PSC), Rondish Company Limited, Smart Caregiver Corporation, Stanley Black & Decker, Inc., and Tidi Products, LLC. The prominent players in the market have adopted various strategies for increasing their fall management market share.

Key Benefits for Stakeholders:

• The fall management market size and estimations are based on a comprehensive analysis of key developments in the fall management industry.
• The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the global fall management market.
• The study provides an in-depth fall management market analysis of the market and current & future fall management market trends to elucidate the imminent investment pockets.
• Information about key drivers, restrains, and opportunities and their impact analyses on the market size is provided.
• Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
• It offers a quantitative analysis of fall management market forecast from 2019 to 2026, which is expected to enable stakeholders to capitalize on prevailing fall management market opportunities.

  Fall Management Market Report Highlights

Aspects	Details
By Product	Sensor Pad Floor Mat RFID Tag
By Region	North America  (U.S., Canada, Mexico) Europe  (Germany, France, UK, Italy, Spain, Rest of Europe) Asia Pacific  (Japan, China, India, Australia, Rest of Asia-Pacific) LAMEA  (Brazil, Saudi, South Africa, Rest of LAMEA)
Key Market Players	EMFIT LTD., TIDI PRODUCTS, LLC (J.T. POSEY COMPANY), CURBELL, INC., PERSONAL SAFETY CORPORATION (PSC), ALIMED, INC.,, DEROYAL INC., STANLEY BLACK & DECKER, INC., (STANLEY HEALTHCARE), SMART CAREGIVER CORPORATION, RONDISH COMPANY LIMITED, MEDLINE INDUSTRIES, INC.

Analyst Review

The fall management market is expected to witness a substantial growth, owing to surge in incidence of increase in geriatric population across the globe age-related disorders such as loss of eyesight poor & physical condition. Moreover, significant advancements have been witnessed in the field of fall management devices and increase in focus of key market players toward acquisition for development of more advanced devices for the fall management are anticipated to boost the market growth in the near future. On the contrary, lack of awareness regarding fall management devices among the elderly people in developing countries is expected to hinder the market growth.

Author Name(s) : Onkar Sumant & Snehal Manjrekar | Roshan Deshmukh

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