Bed Monitoring System & Baby Monitoring System Market Report Overview
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The global bed monitoring system & baby monitoring system market size was USD 1604 million in 2022 and market to touch USD 2680.9 million by 2031, at a CAGR of 5.9% during the forecast period.
Babies' activity is monitored using a bed monitoring system and a baby monitoring system. These systems monitor the movements of the patients and infants using a variety of sensors, alerting the caretakers or parents if there is any variation from their usual behaviour so that they may make sure to check on them in case of an emergency. A sensor that is totally sealed against contamination and is intended to be installed under the mattress of a bed, close to the bed frame, eliminates the need to discard the sensor once a patient is discharged. In the sensor's construction, ribbon switches are positioned in between rigid Plexiglas panels.
Technology-based tools used in conjunction with a centralised software network to determine sleeping patterns include bed and infant monitoring systems. The lack of public understanding and acceptance of these goods, particularly in developing nations, may to some extent limit customer demand. However, with more people being admitted to hospitals and faster technical development, industry growth is expected to slow down for the foreseeable future.
COVID-19 Impact: COVID-19 has Negatively Affected The Market Growth
Nearly every business was impacted by the unprecedented worldwide public health emergency known as COVID-19, and the long-term effects are expected to have an influence on the expansion of a number of end-use industries throughout the course of the projection period. In order to assure the inclusion of underlying COVID-19 concerns and potential future directions, this continuing study expands the research framework. The paper offers insights on COVID-19, taking into account changes in consumer demand and behaviour, buying habits, supply chain rerouting, dynamics of contemporary market forces, and important government initiatives. In-depth examination of the effects of COVID-19 and its succeeding variant outbreaks on demand, supply, pricing, and vendor uptake is revealed in the report's devoted section, which also offers suggestions for long-term solutions.
The revised report offers new information, analysis, projections, and estimates. Insights, analyses, projections, and predictions are included in the revised report, which takes COVID-19's effect on the market for bed monitoring systems and baby monitoring systems into account.
Latest Trends
"Technological Developments Leading Market Expansion"
The market for bed monitoring systems and infant monitoring systems has identified technological developments as the primary trend that is growing in popularity. Major players in the bed monitoring system and infant monitoring system industries are concentrating on bringing in technical advancements to strengthen their positions. For example, Dozee and Midmark India introduced India's first connected bed platform in August 2023 to automate patient monitoring in hospital beds. The new service is extremely useful for keeping track of beds in HDUs, step-down ICUs, and non-ICU wards. Next-generation sensors are used to monitor the patient, and it is driven by cloud and artificial intelligence technologies.
Bed Monitoring System & Baby Monitoring System Market Segmentation
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- By Type Analysis
According to type, the market can be segmented into Baby Monitor (Sensor & Wearable), Pressure Ulcer, Elderly Monitor (Fall Prevention), Sleep Monitor, Bed Monitoring System & Baby Monitoring System. Baby Monitor (Sensor & Wearable) is anticipated to be the largest segment.
- By Application Analysis
Based on application, the market can be divided into Home Care, Nursing Home, and Assisted Living Facilities. Home Care will be the dominating segment.
Driving Factors
"Growing Number Of Mothers Who Work Will Fuel The Market Growth"
Growing urbanization is altering consumer habits and lessening gender preconceptions, which is encouraging women professionals to work in a variety of sectors in accordance with their preferences. Women's participation in the workforce has steadily risen over time as a result of this tendency. Across the globe, women devote a significant amount of time to pursuits that aren't traditionally counted as economic activity. Therefore, when the time-cost of unpaid care work is decreased, shared equally with men, or made more compatible with market activity, female involvement in labour markets tends to rise. The use of monitoring tools, such as baby monitors, is rising as more women, particularly new moms, participate in society.
"Rising Awareness In Healthcare Sector Fuel The Market Growth"
One of the key reasons propelling the growth of the bed monitoring system and infant monitoring system markets is the spike in spending in healthcare infrastructure development throughout the globe. The increased emphasis on lowering the cost of treating pressure ulcers and fall injuries, as well as the increasing demand for technologically sophisticated beds and baby monitoring systems to offer care and safety for infants and elderly people, all contribute to the market's rapid expansion. The prevalence of chronic disorders including cardiovascular diseases and degenerative diseases, as well as the growth in popularity of monitoring systems, which incorporate smart and creative design integrating Internet of Things to help with attention to minute details, further affect the market. Additionally, the market for bed monitoring systems and infant monitoring systems is favourably impacted by the growing older population, increased online product availability and purchases, and acceptance of inconspicuous monitoring solutions. Furthermore, during the projected period of 2021 to 2028, technological advances provide market participants lucrative opportunities.
Restraining Factors
"Lack Of Product Adoption And Awareness Will Restrain The Market Growth"
It is anticipated that the lack of product adoption and awareness in emerging nations would impede the expansion of this industry. The expansion of the bed monitoring system and infant monitoring system markets may be constrained by a lack of understanding regarding the usage of sleep monitoring systems in emerging nations.
Bed Monitoring System & Baby Monitoring System Market Regional Insights
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"Asia Pacific will have the quickest growth"
In 2022, the bed monitoring system and baby monitoring system market was dominated by North America. The region with the quickest growth is anticipated to be Asia-Pacific throughout the projection period. Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa are the areas included in the bed monitoring system & baby monitoring system market study. North America dominates the markets for bed monitoring systems and infant monitoring systems. During the projection period, Asia Pacific will rule the bed monitoring system and infant monitoring system markets. The primary drivers propelling the Asia Pacific bed monitoring system & baby monitoring system market growth include wide the fast expanding middle-class population with increased healthcare spending, legislative changes, and considerable investments in infrastructure development. Additionally, as middle-class households' disposable income rises, so does their ability to install medical equipment in homecare settings. These variables will cause Asia Pacific to expand at the greatest CAGR throughout the projection period.
Key Industry Players
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.
List of Market Players Profiled
- Early Sense (Israel)
- Eight Sleep (U.S.)
- Smart Caregiver (U.S.)
- EMFIT (Finland)
- Wellsense (Michigan)
- Tekscan (Massachusetts)
- Sleep Number (U.S.)
Report Coverage
This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 1604 Million in 2022 |
Market Size Value By |
US$ 2680.9 Million by 2031 |
Growth Rate |
CAGR of 5.9% from 2022 to 2031 |
Forecast Period |
2023-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Segments Covered |
Type and Application |
Regional Scope |
Global |
Frequently Asked Questions
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What value is the global Bed Monitoring System & Baby Monitoring System Market expected to touch by 2031?
The global Bed Monitoring System & Baby Monitoring System Market is expected to touch USD 2680.9 million by 2031.
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What CAGR is the Bed Monitoring System & Baby Monitoring System market expected to exhibit during 2031?
The Bed Monitoring System & Baby Monitoring System market is expected to exhibit a CAGR of 5.9% over 2031.
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Which are the driving factors of the Bed Monitoring System & Baby Monitoring System market?
The business is primarily driven by the expanding population, increased use of unobtrusive surveillance options, and rising healthcare spending.
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Which are the top companies operating in the Bed Monitoring System & Baby Monitoring System market?
Early Sense, Eight Sleep, Smart Caregiver, EMFIT, Wellsense, Tekscan, Sleep Number