The overall bed monitoring system & baby monitoring system market is expected to grow rapidly owing to increasing investments in healthcare infrastructural development, increasing elderly population, rising adoption of unobtrusive monitoring solutions, increasing focus on reducing the cost of pressure ulcer & fall injuries treatment and increasing online availability & purchase of products.
What the Market Looks Like?
Predicted to grow at a CAGR of 7.9% during the forecast period, the global Bed Monitoring System market is estimated to reach USD 1.9 billion by the end of 2024.
“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 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.
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Geographical growth scenario of Bed Monitoring System Market
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.
Leading market players
The prominent players in the Bed Monitoring System market include 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).
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