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Global Bed Monitoring Systems and Baby Monitoring Systems Market to Reach US$1.8 Billion by the Year 2026
Growth in the global market is mainly attributed to rising aging population, increasing uptake of unobtrusive monitoring options and growing investment in development of the healthcare infrastructure. The market is powered by immense popularity of baby monitoring solutions, on-going efforts to prevent fall injuries and pressure ulcers, and explosion of the e-commerce. In recent years, a large number of clinical settings and hospitals have embraced continuous monitoring systems to track respiratory and heart rates of patients in real-time. Powered by latest technology such as the Internet of Things (IoT) and artificial intelligence, these devices deliver enhanced features and are gaining increasing traction from high incident of chronic medical conditions. While increasing uptake of baby monitors is driving demand, strong emphasis on sleep monitors to analyze sleep patterns, mainly in homecare settings, is providing notable revenue boost to the market. In addition, the availability of smart bed monitoring systems along with increasing incidence of sleep disorders is bolstering the market growth. Increasing geriatric population that is susceptible to various chronic conditions, falls and associated medical complications is expected to propel global demand for these devices.
Amid the COVID-19 crisis, the global market for Bed Monitoring Systems and Baby Monitoring Systems estimated at US$1.3 Billion in the year 2020, is projected to reach a revised size of US$1.8 Billion by 2026, growing at a CAGR of 6.6% over the analysis period. Baby Monitoring, one of the segments analyzed in the report, is projected to grow at a 6.3% CAGR to reach US$808.6 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Elderly Monitoring segment is readjusted to a revised 7.3% CAGR for the next 7-year period. This segment currently accounts for a 27.2% share of the global Bed Monitoring Systems and Baby Monitoring Systems market. The baby monitoring segment growth is driven by increasing number of working women and busy lifestyles. The segment is gaining from rising parent awareness, increasing influx of new devices and rising uptake of these systems across homecare settings.
The U.S. Market is Estimated at $389.5 Million in 2021, While China is Forecast to Reach $210 Million by 2026 Select Competitors (Total 44 Featured) -
The Bed Monitoring Systems and Baby Monitoring Systems market in the U.S. is estimated at US$389.5 Million in the year 2021. The country currently accounts for a 29.45% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$210 Million in the year 2026 trailing a CAGR of 8.3% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.2% and 6.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5.7% CAGR while Rest of European market (as defined in the study) will reach US$227.8 Million by the end of the analysis period. North America commands major market share due to increasing incidence of sleep-related disorders along with high level of awareness regarding health benefits of baby and bed monitoring systems. In Asia-Pacific region, growth is attributed to increasing healthcare spending, supportive insurance policies, rapid expansion of the healthcare sector, rising middle-class segment, and increasing spending power.
Bedsore Monitoring Segment to Reach $327 Million by 2026
Bedsore are a common problem among patients admitted in hospitals, and physicians always take a physical inspection of admitted patients to check whether the patient has developed bedsores or not. Recent years saw advent of sensor-enabled monitoring systems that enable identifying the bedsores in hospital-admitted patients in real-time. In the future, more sophisticated and affordable bedsore monitoring systems are likely to emerge for hospital admitted as well as for bed-ridden people undergoing treatment at their homes. In the global Bedsore Monitoring segment, USA, Canada, Japan, China and Europe will drive the 5.4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$183 Million in the year 2020 will reach a projected size of US$263.1 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$32.6 Million by the year 2026.
- Capsule Technologies, Inc.
- Eight Sleep
- Emfit Ltd
- Fresenius Medical Care AG & Co. KGaA
- Hisense Ltd.
- ibaby labs
- Infant Optics
- Koninklijke Philips N.V.
- Sensing Tex
- SensorCare Systems Ltd.
- Sleep Number Corporation
- Smart Caregiver Corporation
- Tekscan, Inc.
- VTech Communications, Inc.
- XSENSOR Technology Corporation