Bed Monitoring System Market | Ongoing Trends and Recent Developments | Major Key Players like Early Sense (US), EMFIT (Finland), Eight Sleep (US)

The overall Bed 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.

What Bed Monitoring System & Baby Monitoring System 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. 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.

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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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.

Recent Developments:
• 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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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 and strategies adopted:

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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