Press release
Global Bed Monitoring System And Baby Monitoring System Market To Be Driven By Increasing Investment In Healthcare Sector In The Forecast Period Of 2023-2028
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
Forecast CAGR (2023-2028): 8%
The rising number of patients, increasing elderly population, and growth in healthcare expenditure are propelling the market for bed monitoring systems. Furthermore, the growing number of nuclear families has also enabled parents to use baby monitoring systems. Also, the increasing concern among people for monitoring their sleep patterns would drive the market for sleep monitoring systems.
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Considering the end-use of these systems, homecare settings would likely grow at the fastest pace, driven by increasing disposable income and rising awareness about maintenance of health among people. The growing adoption of monitoring devices around the globe would further fuel the market in the coming years.
Industry Definition and Major Segments
The baby monitoring system is used by parents/guardians to keep an eye on their children. A baby monitor is a radio system that is used to remotely listen to the sounds made by a baby. On the other hand, a bed monitoring system helps in monitoring of daily activity patterns of patients/persons on the bed.
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Based on the type of monitoring system, the market has been segmented as:
Bedsore Monitoring
Baby Monitoring
Elderly Monitoring
Sleep Monitoring
Others
Based on the end-use of monitoring systems, the global bed monitoring system and baby monitoring system market has also been segmented as:
Homecare Settings
Hospitals
Nursing Homes and Assisted Living Facilities
Market Trends
Considering the growth potential of baby monitoring systems, market players are extensively involved in research and development activities to develop and launch new products. For instance, Vacos launched a hack-proof baby monitor that helps parents monitor their babies, remotely. Another player, Miku launched the "Miku Pro Smart Baby Monitor" that helps parents to track baby's sleep patterns and breathing without any physical contact.
Key Market Players
The major players in the market are Early Sense, EMFIT, Eight Sleep, Smart Caregiver Corporation, Wellsense, Tekscan, Lenovo Group, and Sleep Number Corporation. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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