DUBLIN–(BUSINESS WIRE)–The “Global Medical Alert System Market (2021-2026) by System Type, Connection Type, End-user, Offering, Technology, Geography, Competitive Analysis and the Impact of COVID-19 with Ansoff Analysis” report has been added to ResearchAndMarkets.com’s offering.
The global medical alert system market is estimated to be USD 7.4 Bn in 2021 and is expected to reach USD 10.9 Bn by 2026, growing at a CAGR of 8.3%.
Factors such as the rising geriatric population, technological advancement like the use of AI and IOT in the medical alert system, growing inclination of elder towards independent living, increasing adoption of the mobile personal emergency response system, and various healthcare reforms in different parts of the world are key drivers for the market.
The market is witnessing certain restraining factors, such as rigorous competition among existing medical alert system manufacturers, lower acceptability among seniors for technology use, and the subsequent upswing in large volume purchasing through INHs and GPOs (Group Purchasing Organizations). The introduction of voice-based and mobile medical alert system is creating an opportunity for the market.
Competitive Quadrant
The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance Score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
Why buy this report?
The report offers a comprehensive evaluation of the Global Medical Alert Systems Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies. The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry. The report includes in-depth market analysis using Porter’s 5 force model and the Ansoff Matrix. The impact of Covid-19 on the market is also featured in the report. The report also contains the competitive analysis using Competitive Quadrant, the analyst’s proprietary competitive positioning tool. Report Highlights:
A complete analysis of the market including parent industry Important market dynamics and trends Market segmentation Historical, current, and projected size of the market based on value and volume Market shares and strategies of key players Recommendations to companies for strengthening their foothold in the market Market Dynamics
Drivers
Increase in geriatric population and health literacy across the globe Increasing adoption of smart & mobile emergency response system Technological advancement in medical alert systems Favorable healthcare reform and financial assistance by Government for senior citizens Growing inclination of elders towards independent living Restraints
Increasing incidence of false alarm Integration of connected medical devices into an established ecosystem Lower acceptability among seniors for the use of technology Opportunities
Revolution brought by emerging technologies-IoT & AI The growing number of assisted living centres and retirement homes Introduction of voice-based and mobile medical alert system Transformation in the healthcare sector Challenges
Low penetration of medical alert systems in developing countries Companies Mentioned
Koninklijke Philips N.V. Rauland-Borg Corporation Honeywell International Ascom Wireless Solutions ADT Corporation (US) Tunstall Healthcare Group Ltd. Valued Relationships, Inc. Medical Guardian LLC Hill-Rom Holdings Inc. Jeron Electronic Systems Inc Philips Lifeline ADT Tunstall Greatcall Alert-1 Connect America Bay Alarm Medical Life Alert For more information about this report visit https://www.researchandmarkets.com/r/i3a7pg