The United States based company HeaLTH Care Inc. has developed a new electronic monitor for elderly patients (personal accelerometer) that transmits an alert to care providers when they fall over or experience an extended period where they are unsteady on their feet. It looks like a broach (2x3cm and 1cm thick) and is worn either pinned to the persons’ attire or clipped to their belt. The product will retail in the US for around USD$2,500.00. They wish to target all aged care/nursing home patients or stay at home patients aged over 65+ years of age that use monitored homecare services. They anticipate Australia will represent a good market to commence international distribution.
Question 1
To confirm if this should be the target for their next market entry strategy:
a Undertake a comparative analysis of the market potential indices for Australia and two emerging markets, Brazil and Hong Kong. Be sure to add indices that are relevant to the healthcare and/or ehealth market.