Bed & Baby Monitoring System Market Overview
[86 Pages Report] The bed monitoring system market is expected to grow from USD 1.3 billion in 2019 to USD 1.9 billion by 2024, at a CAGR of 7.9% during the forecast period.
The report covered sensor pads or smart mattresses embedded with the sensors for bedsore monitoring, baby monitoring, elderly monitoring, and sleep monitoring.
The growth of this market is driven primarily by factors such as growing investments in healthcare infrastructural development, increasing elderly population, rising adoption of unobtrusive monitoring solutions, increasing focus on reducing the treatment cost of pressure ulcer & fall injuries and increasing online availability & purchase of products.
However, lack of awareness and acceptance of the products in developing countries is expected to restrain the growth of this market during the forecast period.
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Baby monitoring segment accounted for the largest share of the bed monitoring system & baby monitoring system market in 2018
Based on type, the bed monitoring system & baby monitoring system market is divided into baby monitoring, elderly monitoring, bedsore monitoring, and sleep monitoring.
The baby monitoring segment accounted for the largest share of the bed monitoring system & baby monitoring system market in 2018.
The large share of this segment is attributed the availability of new products, increasing awareness among parents, and growing adoption of baby monitors in homecare settings.
The homecare settings end-user segment is expected to grow in the near future
By end-user type, the bed monitoring system & baby monitoring system market is segmented into homecare settings, hospitals, nursing home, and assisted living facilities.
The homecare settings segment dominated the bed monitoring system & baby monitoring system market in 2018.
This segment is expected to grow at the highest rate during the forecast period, mainly due to the increasing use of sleep monitoring devices and baby monitors in homecare settings and the growing adoption for unobtrusive monitors in home care for the elderly population.
Report Geographical Region
In 2018, North America held the largest share of the bed monitoring system & baby monitoring system market. However, Asia Pacific is estimated to grow at the highest CAGR during the forecast period.
The rapid growth in the healthcare industry, widespread policy reforms, the rapidly growing middle-class population with increasing purchasing power, and significant investments in infrastructural development are supporting the growth of the Asia Pacific bed monitoring system & baby monitoring system market.
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Report Key Players and Market Shares
The prominent players in this market include Wellsense (US), Xsensor Technology Corporation (Canada), Early Sense (US), Tekscan (US), Sensing Tex (Spain), Infant optics (US), Lenovo Group (Hong Kong), Philips (Netherlands), Hisense (Israel), Vtech Communications (Hong Kong), Nanit (US), iBaby Labs (US), Emfit (Finland), Smart Caregiver Corporation (US), Eight Sleep (US), Withings (France), Beddit (Finland), Sleep Number Corporation (US).
Key questions addressed by the report:
• Who are the major market players in the bed monitoring system & baby monitoring system market?
• What are the regional growth trends and the largest revenue-generating regions?
• What are the major drivers and challenges in the bed monitoring system & baby monitoring system market?
• What are the major type segments in the bed monitoring system & baby monitoring system market?
• What are the major end-user segments in the bed monitoring system & baby monitoring system market?
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