Medical Baby Monitoring Devices Market Projected to Grow at a 5.6% CAGR by 2031 - Analysis by TMR

The global medical baby monitoring devices market was valued at US$ 1.2 billion in 2021 and is estimated to grow at a compound annual growth rate (CAGR) of 5.6% from 2022 to 2031. The market is expected to reach US$ 1.9 billion by the end of 2031.

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Analysts' Viewpoint on Medical Baby Monitoring Devices Market Scenario

The increase in the number of working parents and the rising concern among them about their baby's health and safety are driving the market demand for medical baby monitoring devices. Moreover, the growing trend of daycare centers among the working population, which prefers only top-tier baby health monitoring devices, is further expected to create new opportunities for manufacturers of baby monitoring devices. Furthermore, new innovations and product advancements in monitoring devices, such as breathing monitors and infant pulse oximeters developed by key players, are expected to propel the medical baby monitoring device market. North America is expected to witness the highest demand for medical baby monitoring devices due to the higher spending capacity of people on baby care products in the region. Key players are also expanding their geographical reach by providing products through various online e-commerce platforms.

Medical Baby Monitoring Devices Market

Market Introduction

Baby monitors are used to monitor a baby's activities when the parents are not in proximity to the baby. The device can transmit audio as well as video. A baby monitor, also known as a baby alarm, offers various features such as home fetal monitors, Doppler fetal monitors, and blood pressure monitoring devices. Baby monitoring devices can be majorly classified into audio monitors and video monitors. The global medical baby monitoring devices market is expected to expand at a decent growth rate during the forecast period, owing to the various benefits offered by these devices and growing media coverage about safety and security associated with babies.

Market Overview, Size, and Growth

The global medical baby monitoring devices market, valued at US$ 1.2 billion in 2021, is projected to grow at a CAGR of 5.6% from 2022 to 2031, reaching US$ 1.9 billion by the end of 2031. This growth is driven by an increase in the number of working parents and the rising concern about infant health and safety. Additionally, technological advancements and innovations in baby monitoring devices, such as wearable technology and smart baby monitors, are expected to further boost market growth.

Market Segmentation

In terms of product type, the global medical baby monitoring devices market is divided into video baby monitors, audio baby monitors, and others. The video baby monitor segment is likely to hold a major share of the market during the forecast period. These monitors are used when parents want extra assurance and wish to observe their babies while they are away. These types of baby monitors have a camera with a microphone that transmits images and sound to the receiver. Some models have portable screens that can be carried around, while others may need to stay in one place.

Regional Analysis

North America holds the largest value share of the global medical baby monitoring devices market, owing to an increase in per capita spending on baby care products. The U.S. and Canada are among the major contributors to the increased demand for these devices in North America. Increased adoption of e-commerce for shopping is one of the key factors driving the medical baby monitoring industry growth by making the products easily available in the region. Moreover, the higher rate of adoption of baby monitors in daycare centers is further driving demand in the region.

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Market Drivers and Challenges

The primary drivers of the medical baby monitoring devices market include the increase in the number of working parents and the rising concern among them about their baby's health and safety. Additionally, the growing trend of daycare centers among the working population, which prefers only top-tier baby health monitoring devices, is further expected to create new opportunities for manufacturers. However, challenges such as the high cost of advanced baby monitoring devices and concerns related to wireless transmission/radiation exposure may hinder market growth.

Market Trends

The medical baby monitoring devices market is witnessing several trends, including the development of smart and advanced baby monitors such as wearable technology for baby monitoring and infant blood pressure machines. The demand for wireless baby monitors that use Wi-Fi or Bluetooth to transmit data to the receiver is also on the rise. These trends are driven by the growing disposable income of people and increasing safety concerns among parents.

Competitive Landscape

The majority of firms operating in the global medical baby monitoring devices market are investing significantly in comprehensive research and development activities. Expansion of product portfolios and mergers and acquisitions are prominent strategies adopted by key players. Prominent entities operating in the market include Angelcare Monitors, Dorel Industries Inc., Hisense, Motorola Solutions, Inc., Summer Infant Inc., Snuza, VTech Holdings Limited, Koninklijke Philips N.V., Windeln.De, and Sony Corporation.

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Future Outlook

The future outlook for the medical baby monitoring devices market is positive, with significant growth expected over the forecast period. The increasing number of working parents, rising safety concerns, and technological advancements in baby monitoring devices are expected to drive market growth. Additionally, the expansion of geographical reach by key players through various online e-commerce platforms is expected to further boost market demand.

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