The latest market report published by Credence Research, Inc. “Global Bed Monitoring System And Baby Monitoring System Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028. The global bed monitoring system and baby monitoring system market are anticipated to grow at a substantial CAGR of 8.20% in the upcoming years. The global bed monitoring system and baby monitoring system industry was estimated to be worth USD 1.6 billion in 2022 and was expected to be worth USD 2.78 billion by 2030.
The market’s major driving factor is the increasing focus on reducing the cost of treating pressure ulcers and fall injuries, combined with the rising awareness of the importance of tracking sleep habits and the proliferation of smart bed monitoring technologies.
Regionally, North America led the market, primarily driven by major investments in the healthcare sector and efforts by government agencies, like the New Jersey Department of Health, to improve the healthcare system. Meanwhile, the China region emerged as a prominent player in the Asia Pacific bed monitoring system and baby monitoring system market, anticipating the highest CAGR throughout the predicted period due to increasing middle-class disposable income.
Significant investment from major companies and partnerships with other stakeholders are also stimulating market growth. In 2019, EarlySense received a $39 million investment from Hill-Rom Inc. and Wells Fargo Strategic Capital. This partnership aimed to include EarlySense’s monitoring technology in Hill-Rom’s beds.
The market is segmented by type into bedsore monitoring solutions, baby monitoring solutions, elderly monitoring solutions, and sleep monitoring solutions, and by end-user into homecare settings, hospitals, nursing homes, and assisted living facilities.
Bed Monitoring System and Baby Monitoring System market has witnessed significant growth in recent years, which is expected to continue in the coming years. The increasing demand for these systems can be attributed to their ability to ensure the safety and well-being of both infants and elderly individuals. With advancements in technology, bed monitoring systems have become more sophisticated and now include features such as fall detection, vital sign monitoring, and pressure ulcer prevention. On the other hand, baby monitoring systems provide parents with peace of mind by allowing them to keep a watchful eye on their newborns from another room or even when they are away from home through smartphone apps.
Why to Buy This Report-
- The report provides a qualitative as well as quantitative analysis of the global Bed Monitoring System And Baby Monitoring System Market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2020, the base year- 2021, and the projection period 2022-2028.
- The report includes information on the competitive landscape, such as how the market’s top competitors operate at the global, regional, and country levels.
- In-depth analysis of the global market segmentation on the Component and Deployment
- Major nations in each region with their import/export statistics
- The global Bed Monitoring System And Baby Monitoring System Market report also includes the analysis of the market at a global, regional, and country-level along with key market trends, major players analysis, market growth strategies, and key application areas.
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