(PharmaNewsWire.Com, July 09, 2020 ) The growth of bed monitoring systems market are driven 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. The report covered sensor pads or smart mattresses embedded with the sensors for bedsore monitoring, baby monitoring, elderly monitoring, and sleep monitoring.
The Bed 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. North America is expected to register the highest growth rate during the forecast period.
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.
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.
This report covers the market across five major geographies, namely, North America, Europe, Asia Pacific, GCC Countries, and the Rest of the World (RoW). Of the five geographic regions studied in the report, North America is expected to register the highest growth rate during the forecast period.
Geographically, the bed monitoring system market is segmented into North America, Europe, Asia-Pacific, GCC, and the Rest of the World. 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. Growth in this market can primarily be attributed to the rapid growth in the healthcare industry, widespread policy reforms, the rapidly growing middle-class population with increasing purchasing power, and rising investments in infrastructural development.
Leading Companies
The major players in the 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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