Fall Management Market

Market Overview

Fall management is a collection of strategies, interventions, and products designed to prevent and reduce the risk of falls, particularly among people prone to falling. Falls can be a significant concern, especially among the elderly, as they can result in injuries, hospitalizations, and a decline in overall health. As a result, fall management is an essential component of healthcare, particularly in settings such as hospitals, nursing homes, assisted living facilities, and home care.

Furthermore, the fall management market share is driven by rising product demand, increasing fall incidents, and an aging population requiring long-term care. Falls are the leading cause of accidental or unintentional injury deaths globally. The growing technological advancement of the digital platform for developing fall management products will stimulate market growth.

Market Dynamics

Global Fall Management Market Drivers

Growing Aging Population

As the world's population ages, the incidence of falls has increased, as older people may experience declines in balance and mobility. The demand for fall prevention and management solutions has grown in response to this demographic shift. According to the World Health Organization (WHO), the global population is aging. The number of people aged 60 and up is growing; by 2050, it will double to 2.1 billion. This means that by 2050, more people will be aged 60 and up than adolescents aged 10 to 24.

Additionally, the National Institute on Aging (NIA) reported that the number of people 65 and older in the United States is expected to nearly double, from 52 million in 2018 to 95 million by 2060. According to the Centers for Disease Control and Prevention, Every year, more than 14 million adults aged 65 and up (older adults) in the United States report falling. While not all falls cause injury, approximately 37% of those who fall reported injuries that necessitated medical attention or limited their activity for at least one day, resulting in an estimated nine million injuries. The Agency for Healthcare Research and Quality (AHRQ) also estimates that 700,000 to 1 million hospitalized patients fall annually. Falls are a common and devastating complication of hospital care, particularly in the elderly.

Furthermore, the aging population frequently experiences age-related health issues, such as a decline in balance, muscle strength, and bone density, which increases the risk of falls. Healthcare systems are under pressure to meet the healthcare needs of older people, resulting in a greater emphasis on fall prevention and management. The increasing number of older adults living independently at home has created a need for home-based fall prevention solutions. The aging population is a significant demographic factor driving demand for worldwide fall management solutions. As the elderly population grows, there is a greater demand for effective and innovative fall prevention measures, influencing the fall management market trend.

Global Fall Management Market Restraints

Cost Concerns

Implementing comprehensive fall management programs and using advanced technologies can incur significant upfront and ongoing costs. These expenses may include purchasing specialized equipment, training healthcare personnel, and integrating technology systems into existing healthcare infrastructure. Buying and installing advanced sensor-based fall detection systems in healthcare facilities, deploying smart flooring, or investing in patient wearable devices can all be significant financial investments. Purchasing personal fall detection devices or making home modifications to reduce fall risks can be prohibitive for individuals. According to one study, the cost of preventing falls can range between USD 272 and USD 880 per person.

According to the CDC, the US spends approximately USD 50 billion per year on medical costs associated with falls among adults aged 65 and older. USD 754 million is spent on fatal injuries, with the remainder on non-fatal fall injuries. Unreimbursed expenses for treating a hospital-related fall injury can range between USD 7,000 and USD 30,000, depending on the severity of the injury. While investments in fall prevention programs can help reduce these costs, the initial cost may be difficult for healthcare providers and individuals. Healthcare organizations, particularly those in resource-limited settings, may be unable to invest in comprehensive fall management programs due to financial constraints. This may result in a discrepancy between the acknowledged importance of fall prevention and the actual implementation of preventative measures.

Global Fall Management Market Opportunity

Technological Advancement

Continued advancements in sensor technologies, artificial intelligence (AI), and the Internet of Things (IoT) offer opportunities to improve the capabilities of fall detection and prevention solutions. The combination of these technologies can result in more accurate and responsive systems. Wearable devices with advanced sensors can continuously monitor a person's movements and detect deviations that could lead to a fall. These devices can be linked to smartphones or central monitoring systems to send real-time alerts to caregivers and healthcare professionals. According to IDC, global wearable device shipments increased 2.6% yearly in the third quarter of 2023 to 148.4 million units. This is a record high for the third quarter. This includes a variety of wearable devices, such as fitness trackers and smartwatches, which can be used for fall detection and prevention.

AI algorithms in fall management systems can improve detection accuracy by analyzing patterns and distinguishing between regular movements and potential falls. IoT-enabled sensors installed throughout the home can form a network that continuously monitors and analyzes movement patterns, preventing falls before they occur. Continued investment in R&D, collaboration between technology companies and healthcare providers, and addressing user concerns can help to realize the full potential of technological advancements in the fall management market.

Regional Analysis

The global fall management market analysis is conducted in North America, Europe, Asia-Pacific, the Middle East and Africa, and Latin America.

North America Dominates the Global Market

North America is the most significant global fall management market shareholder and is estimated to grow at a CAGR of 5.3% over the forecast period. North America leads the fall management market due to the increasing number of falls, resulting in serious health problems. According to the Centers for Disease Control and Prevention (CDC), healthcare settings worldwide report one out of every four geriatric patient falls yearly. The growing adoption of fall management products, technological advancements, and a strong presence of market players drive market growth. North American governments are increasingly focused on healthcare and aging issues. They are investing in healthcare infrastructure, research, and the development of new technologies to meet the aging population's needs. Such institutional support is expected to foster the growth of the fall detection system industry in the region.

Furthermore, Alzheimer's dementia is expected to affect 6.7 million Americans over the age of 65 by 2023. This figure could rise to 13.8 million by 2060 if no medical breakthroughs are made to prevent, slow, or cure Alzheimer's disease (AD). As people get older, the risk of neurological disorders like dementia and Alzheimer's rises, increasing the demand for fall management. In September 2018, the Centers for Disease Control and Prevention (CDC) and the National Council on Aging (NCOA) launched campaigns to raise awareness about preventing fall-related injuries and deaths. The National Falls Prevention Resource Center also oversees the Falls Free® Initiative, a national effort to address the growing public health concern of falls, fall-related injuries, and deaths. The National Council on Aging (NCOA) also observes Falls Prevention Awareness Week, a nationwide event organized by state coalitions and partners to raise awareness about fall prevention. Falls Prevention Awareness Week was held on September 18-22, 2023. Furthermore, better reimbursement policies like Medicare and Medicaid are expected to increase market demand for fall management products.

Asia-Pacific is anticipated to exhibit a CAGR of 5.5% over the forecast period. The Asia-Pacific region is expected to experience favorable growth in the fall management market as demand for fall management products increases and the senior population increases. According to the United Nations Fund for Population Activities (UNFPA), Asia-Pacific's aging population is expected to reach 1.3 billion by 2030. India and China are leaders in the region's fall management market because they have the largest geriatric populations. Aside from that, rising per capita healthcare spending boosts regional market growth. China has the highest CAGR of any surveyed country in the global market. This is expected to create a significant opportunity for manufacturers.

Additionally, the elderly population in China has grown significantly in recent years, and it is expected to reach around 100 million people over 65 within the next two decades. According to a 2023 report, China has the most Alzheimer's patients in the world. The country has approximately six million Alzheimer's disease patients or about 5% of the population. However, the disease is spreading at a younger age in China. These factors are expected to drive the regional market over the forecast period.

Europe is also expected to hold a significant market share, according to fall management market insights. In the United Kingdom, consumer preferences are expected to play an essential role in driving demand for fall management. The population has become more health-conscious, and to maintain their independence, they may be more likely to practice fall prevention. This increases their safety and lowers the risk of falling. The stigma associated with using assistive technologies will continue to diminish, and people may be willing to incorporate fall detection systems into their daily routines. Furthermore, dementia is prevalent in the United Kingdom. In December 2023, 64.6% of patients 65 and older with dementia had a recorded diagnosis. This is expected to propel the market in the region.

Segmental Analysis

The global fall management market is segmented based on product type, end-user, and region.

The market is further segmented by product type into Sensor Pads, Floor Mats, and RFID Tags.

Sensor Pad accounts for the largest share of the market. The sensor pad segment had the highest market share due to the availability of various types of sensor pads, such as floor sensor pads, bed sensor pads, and chair sensor pads. Sensor pads are pressure-sensitive devices that sit on a bed or chair. They detect pressure changes when a person moves, and the system sounds an alarm if there is a lack of pressure (indicating a possible fall). The Smart Caregiver Corporation provides fall prevention monitors and exit alarms that alert hospital staff when a vulnerable individual requires assistance.

The floor mat segment is expected to grow positively as more people adopt flexible, lightweight floor mats that provide fall protection. These floor mats are widely used in both homes and healthcare facilities. Rapid technological advancements in floor mats fuel segment growth. For example, Alimed provides a variety of floor mats, including the flat mat bedside fall mat, which is an ultra-low profile, antibacterial bedside fall mat with a slide-stop bottom to help keep the mat firmly in place. It is a single-fold multifunctional mat with energy-absorbing foam that is mold, stain, and odor-resistant.

The market can be further bifurcated by end-users into Hospitals, Clinics, and Nursing Homes.

Hospitals and Clinics are the major end-users of the market. The hospitals and clinics segment dominates the market due to the increasing number of falls in hospitals and clinics. Hospitals and clinics are critical settings where fall management solutions are required to ensure patient safety. Fall prevention is a top priority due to the diverse patient population, including those recovering from surgeries, people with acute medical conditions, and the elderly. Sensor pads, floor mats, and other technologies are incorporated into hospital beds and seating arrangements to monitor patient motion. These systems' real-time alerts enable healthcare staff to respond quickly, reducing the risk of falls. 

According to the Centers for Disease Control and Prevention (CDC), approximately 3 million geriatric patients yearly are treated in hospital emergency departments for fall injuries. Similarly, studies conducted by leading market players show that more than 1 million patients in the United States experience an accidental fall each year, with approximately 48% of falls resulting in serious injury costing hospitals up to USD 19,400 per incident.

The nursing home segment has the largest market share due to increased fall incidences and the adoption of fall management products. Nursing homes serve people who need long-term care, often due to age-related issues or chronic health conditions. Fall management is critical in these settings for ensuring residents' safety. Sensor pads and floor mats are commonly employed to monitor the movements of elderly residents in their living spaces. These technologies add an extra layer of security, providing peace of mind to both residents and caregivers. According to the Centers for Disease Control and Prevention, in the United States, approximately 1,800 deaths are reported each year due to accidental falls in nursing homes.

Recent Developments

• January 2024- Medline, a market-leading manufacturer and supplier of medical supplies and solutions, announced that it has successfully acquired United Medco, a national provider and partner of supplemental benefits and member engagement solutions.
• January 2024- RoundTable Healthcare Partners concluded the sale of TIDI products to TJC.
• April 2023- TIDI Products, LLC announced the immediate availability of its new Posey® Wireless Toilet Sensor.