The fall management market size was valued at USD 156.2 million in 2019 and is projected to grow with a CAGR of 5.0%.
Patient falls are more prevalent in hospitals and nursing homes, and there is a strong demand for fall management systems in order to reduce such potentially damaging accidents. Geriatric patients and pregnant women admitted for a long period in hospitals are more susceptible to accidental falls. Some of the common causes of falls in nursing homes and hospitals include muscle weakness, poorly-fitting footwear, and improperly-fitted wheelchairs.
The fall management market’s most prominent driver is the growing demand for fall management products owing to surging incidents of falls in hospital settings, coupled with the increasing geriatric population. Falls are the leading cause of several accidental injuries and deaths across the globe. As per the World Health Organization (WHO), around 646,000 deaths are reported every year due to falls across the globe. Every year around 37.3 million falls are reported across the globe, which is severe enough to necessitate medical attention.
Fatal falls are most prevalent among people aged 65 and above, young adults aged 15–29, and children under age 15. As per the estimates reported by the Agency for Healthcare Research and Quality (AHRQ), in the U.S., about 65,000 patients suffer a hip fracture due to fall every year. In line with this, the market players are actively working on launching innovative fall management products. For instance, in 2014, AliMed launched three new fall management products, AliMed Worry-Free Fall Alarm, HipShield X-tra, and AliMed Cordless Sensor Alarm, to reduce the risk of accidental falls in hospitals and nursing homes. The HipShield X-tra is a wearable hip protector that serves to protect against lateral falls-related injuries.
Rapid technological advancement, coupled with the emergence of digital platforms for developing fall management products, drives the market growth. Stanley Healthcare offers an innovative AI-based solution, Foresite Proactive Health & Predictive Fall Management, which provides continuous fall risk assessment, health monitoring, imminent bed escape warning signals and fall detection, and post-fall intervention. Foresite actively evaluates the changing risk of falls and monitors and assesses a wide range of factors that can contribute to falls. However, high treatment cost of falls and related injuries hampers the market growth. As per the Centers for Disease Control & Prevention (CDC), in the U.S., fall-related injuries cost about USD 50 billion each year.
The sensor pad segment held the largest market share on account of the availability of different types of sensor pad, including floor sensor pads, bed sensor pads, and chair sensor pads. These pads alert the healthcare professionals and caregivers if the patient attempts to leave the bed or wheelchair. The Smart Caregiver Corporation offers fall prevention monitors and exit alarms designed to alert hospital staff when an individual at risk requires assistance.
The floor mat segment is projected to gain positive growth due to the increasing adoption of flexible, lightweight floor mats that are effective in providing the fall. These floor mats are extensively used in the home and healthcare facilities. Rapid technological advancements in floor mats drive the segment growth. For instance, Alimed offers various floor mats, such as 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 resistant to mold, stains, and odors and is a single fold multifunction mat embedded with energy-absorbing foam.
The hospitals and clinics segment dominates the market on account of the increasing fall cases in the hospitals and clinics. As per the Centers for Disease Control and Prevention (CDC), in the emergency department of hospitals, around 3 million geriatrics are treated for fall injuries every year. Similarly, studies reported by leading market players shows that in the U.S. hospitals, more than 1 million patients face accidental fall every year, of which around 48% of falls result in serious injury, costing hospitals up to USD 19,400 per incident.
The nursing home segment holds the largest market share on account of increasing incidents of falls and higher adoption of fall management products. As per the Centers for Disease Control and Prevention, in the U.S., about 1,800 deaths are reported every year due to accidental falls in nursing homes.
North America leads the fall management market on account of the growing number of falls incidents leading to significant health problems. As per the Centers for Diseases Control and Prevention (CDC), every year, one in four geriatric patient falls are reported by healthcare settings across the globe. Increasing adoption of fall management products, along with technological advancements and strong presence of market players, drives the market growth.
In September 2018, the Centers for Disease Control and Prevention (CDC) in collaboration with the National Council on Aging (NCOA) launched initiatives to raise awareness about the prevention of fall-related injuries and deaths. Moeover, it is expected that the availability of better reimbursement policies, including Medicare and Medicaid, will boost demand for fall management products in the market.
Asia-Pacific region is anticipated to witness positive growth in the fall management market due to the rising demand of fall management products, along with the increasing geriatric population. As per the United Nations Fund for Population Activities (UNFPA), in Asia-Pacific, the geriatric population is projected to reach 1.3 billion by 2030. India and China are frontrunners in the region's fall management market as they house the largest geriatric population. Apart from this, increasing per-capita healthcare provides an impetus to the regional market growth.
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