Bed Monitoring System Market: Increasing Elderly Population
Summary
- 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 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 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. 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.
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.
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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.
The APAC market is projected to grow at the highest rate during the forecast period.
In 2018, North America held the largest share of the 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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Leading Companies
The prominent 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).
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