In a recent published report, Kenneth Research has updated the market report for Medical alert system Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Medical alert system Market products.
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According to a report by the World Health Organization (WHO), the total health spending is growing with an annual average rate of 6% in the low- and middle-income nations, and close to 4% in the high-income countries. Further, in the year 2016, the expenditure made on health reached close to 10% of the GDP of the world and crossed a value of USD 7 trillion.
Global Medical Alert System Market was valued at USD 1.71 Billion in the year 2017. Global Medical Alert System Market is further estimated to grow at a CAGR of 8.88% from 2017 to reach USD 3.32 Billion by the year 2025. North America region holds the highest Market share in 2017. Asia Pacific Market is considered as the fastest growing Market in the projected period due to favorable regulations and policies in these regions. At a country level, developed markets like the U.S., European nations as well the emerging markets like China, Brazil, and India are further anticipated to grow at a steady pace in the next 5 years.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Major players in Medical Alert System Market are ADT Corporation, Life Alert Emergency Response Inc., Bay Alarm Medical, Philips Lifeline, Tunstall Healthcare Group Ltd., VRI Inc. Medical Guardian LLC, GreatCall, AlertOne Services LLC, Nortek Security and Control and other 12 company’s information is provided in research report. Rising R&D investments and various Organic growth strategies adopted by most of the top manufacturers in recent years has provided comprehensive Market opportunities for the various stakeholder.
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SWOT Analysis of Medical Alert System Market
Strength
24 hours monitoring the health
Helps to be independent with build in the emergency alert system.
Ease of use with advanced feature.
Weakness
Expensive monthly fees & signed contract
Lower acceptance of technology by the senior citizen
Opportunity
Innovations in technologies for better healthcare services
Increasing number of smart phone users.
Threats
Mobile Networks connectivity a big challenge for medical alerts.
Medical Alert System Market Overview By End Users
Home – Based Use
Nursing Home
Assisted Living Facilities
Hospices
Medical Alert System Market Overview By Type
Landline PERS
Mobile PERS
Standalone PERS
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Medical Alert System Market Overview By Region
North America
*USA
*Canada
Europe
*Germany
*U.K.
*France
*Italy
*Rest of Europe
APAC
*China
*India
*Japan
*Rest of Asia-Pacific
RoW
*Latin America
*Middle East & Africa
Table of Content
1. Introduction
1.1 Industry Vision
1.3 Limitations
1.4 Stakeholders
2. Research Methodology
2.1. Research Process
2.1.1. Secondary Research
2.1.1.1. Key Data from Secondary Research
2.1.2. Primary Research
2.1.2.1. Key Data from Primary Research
2.1.2.2. Breakdowns of Primary Interviews
2.2. Industry Size Estimation
2.2.1. Bottoms-Up Approach
2.2.2. Top down Approach
2.2.3. Annual turnover process
2.3. Data Triangulation
2.4. Research Assumptions
2.4.1. Assumption
3. Executive Summary
4. Industry Overview
4.1. Introduction
4.2. Strength
4.3. Weakness
4.4. Opportunities
4.5 Threats
4.6 Regulations
4.7 Supply chain analysis/ value chain analysis
4.8 Patents and Standards
5. Industry Trends
5.1 Introduction
5.2 Value Chain Analysis
5.3 Porter’s Five Forces Analysis
5.3.1 Threat of New Entrants
5.3.2 Threat of Substitutes
5.3.3 Bargaining Power of Buyers
5.3.4 Bargaining Power of Suppliers
5.3.5 Intensity of Competitive Rivalry
6. Global Medical Alert System Industry, by Type
6.1 Overview
6.2 Landline PERS
6.3 Mobile PERS
6.4 Standalone PERS
7. Global Medical Alert System Industry, by End Users
7.1 Overview
7.2 Home – Based Use
7.3 Nursing Home
7.4 Assisted Living Facilities
7.5 Hospices
8. Geographical Analysis
8.1. Introduction
8.2. North America
8.2.1. U.S.
8.2.2. Canada
8.2.3. Mexico
8.3. Europe
8.3.1. Germany
8.3.2. France
8.3.3. U.K.
8.3.4. RoE
8.4. Asia Pacific
8.4.1. China
8.4.2. Japan
8.4.3. India
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