Bed Monitoring System & Baby Monitoring System Market by Type (Baby Monitor (Sensor & Wearable), Pressure Ulcer, Elderly Monitor (Fall Prevention), Sleep Monitor), End User (Home Care, Nursing Home & Assisted Living Facilities) - Global Forecast to 2024
“The rising adoption of unobtrusive monitoring solutions is expected to drive the overall growth of the bed monitoring system & baby monitoring system market.”
The market for bed monitoring system & baby monitoring system 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 bed monitoring system & baby monitoring system market is driven primarily by the increased investments in healthcare infrastructure development, growing elderly population, rising adoption of unobtrusive monitoring solutions, increasing focus on reducing the cost of pressure ulcer and fall injuries treatment and increasing online availability and 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.
“The baby monitoring segment held 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 four major segments— 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 to the availability of new products, increasing awareness among parents, and the rising adoption of baby monitors in homecare settings.
“Asia Pacific projected to grow at the highest CAGR during the forecast period.”
The Asia Pacific is projected to record the highest growth in the bed monitoring system & baby monitoring system market 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 increased investments in infrastructural development are supporting the growth of the Asia Pacific bed monitoring system & baby monitoring system market.
In-depth interviews were conducted with chief executive officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the bed monitoring system & baby monitoring system market.
By Designation: C-level Executives: 27%, Directors: 18%, and Others: 55%
By Region: North America: 50%, Europe: 20%, APAC: 15%, and the RoW: 15%
Some of the key players in the bed monitoring system & baby monitoring system market are 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). The study includes an in-depth competitive analysis of these key players in the bed monitoring system & baby monitoring system market, along with their company profiles, recent developments, and key market strategies.
The market study covers the bed monitoring system & baby monitoring system market across various segments. It aims at estimating the market size (in terms of value) and the growth potential of this market across different segments by type, end user, and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to their product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help market leaders/new entrants in this market and provide information regarding the closest approximations of the bed monitoring system & baby monitoring system market and its sub-segments. This report will help stakeholders to understand the competitive landscape, gain insights to position their businesses better, and plan suitable go-to-market strategies. The report will also help stakeholders understand the pulse of the market and provide information on key market drivers, restraints, and opportunities.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook