Security dealers that sell PERS will want to keep close tabs on developments in medical monitoring in order to be better prepared for how the market may change as a result of increased convergence.
Some experts say the convergence of personal emergency response systems (PERS) is coming — the only question is when. Another question, however, is what convergence will mean for companies that specialize in PERS.
London-based market research firm IHS Markit estimates that about 600,000 patients were monitored for medical conditions in the U.S. in 2016, generating revenues between $250 and $300 million. By many standards, that’s a relatively small market. But the market is expected to grow substantially moving forward.