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 driving the growth of bed monitoring systems market. 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. The report covered sensor pads or smart mattresses embedded with the sensors for bedsore monitoring, baby monitoring, elderly monitoring, and sleep monitoring.
How much is the Bed Monitoring System Market worth?
MarketsandMarkets forecasts the Baby Monitoring System Market is projected to reach USD 4.6 billion by 2024 from USD 3.2 billion in 2019, at a CAGR of 7.6% 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 bed monitoring system & baby monitoring system market. The global Urinalysis market is segmented into five major regions, namely, North America, Europe, Asia Pacific, GCC Countries, and the Rest of the World (RoW). In 2018, North America accounted for the largest share of this market.
Baby monitoring segment accounted for the largest share of the bed 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.
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The homecare settings end-user segment is expected to grow in the near future
By end-user type, the 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.
The APAC market is projected to grow at the highest rate during the forecast period.
The bed monitoring system & baby monitoring system market is divided into five major segments—North America, Europe, Asia Pacific, GCC Countries, and the Rest of the World (RoW). In 2018, North America accounted for the largest share of this market, followed by Europe. The APAC market is projected to grow at the highest CAGR during the forecast period.
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Who are the leading vendors operating in Baby Monitoring System Market?
Early Sense (US), EMFIT (Finland), Eight Sleep (US), Smart Caregiver Corporation (US), Wellsense (US), Tekscan (US), Lenovo Group (Hong Kong) and Sleep Number Corporation (US).
Early Sense (US) is one of the leading players in the global bed monitoring system & bed monitoring system market. The company manufactures contact-less, integrated solutions that monitor heart rate, respiratory rate, and motion of patients to help early detection of patient deterioration, prevent falls, and prevent pressure ulcers in hospitals and nursing homes. Early Sense is backed by lead investors such as Wells Fargo Strategic Capital, Pitango Venture Capital, CE Ventures, and JK&B Capital. In 2019, Hill-Rom and Wells Fargo Strategic Capital raised USD 39 million to accelerate the global expansion of Early Sense’s contact-free sensing and analytics solution. These strategies will further enable the expansion of Early Sense in the global s bed monitoring system & bed monitoring system market.
• In 2019, Hill-Rom and Wells Fargo Strategic Capital raised USD 39 million to accelerate the global expansion of Early Sense’s contact-free sensing and analytics solution.
• In 2019, Eight Sleep launched the Eight Sleep Pod, a smart bed for sleep tracking with dynamic temperature control.
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