(PharmaNewsWire.Com, September 09, 2020 ) [86 Pages Report] The bed monitoring system market is expected to grow from USD 1.3 billion in 2019 to USD 1.9 billion by 2024, at a CAGR of 7.9% during the forecast period.
The report covered sensor pads or smart mattresses embedded with the sensors for bedsore monitoring, baby monitoring, elderly monitoring, and sleep monitoring. The growth of this market is driven primarily by factors such as growing investments in healthcare infrastructural development, increasing elderly population, rising adoption of unobtrusive monitoring solutions, increasing focus on reducing the treatment cost of pressure ulcer & fall injuries and increasing online availability & purchase of products. However, lack of awareness and acceptance of the products in developing countries is expected to restrain the growth of this market during the forecast period.
APAC market is projected to grow at the highest CAGR during the forecast period
The the bed monitoring system & baby monitoring system market is divided into five major segments—North America, Europe, Asia Pacific, GCC Countries, and the Rest of the World (RoW). In 2018, North America accounted for the largest share of this market, followed by Europe. The APAC market is projected to grow at the highest CAGR during the forecast period. Growth in this market can primarily be attributed to the rapid growth in the healthcare industry, widespread policy reforms, the rapidly growing middle-class population with increasing purchasing power, and rising investments in infrastructural development.
Key Market Players
The prominent players in this market include Early Sense (US), EMFIT (Finland), Eight Sleep (US), Smart Caregiver Corporation (US), Wellsense (US), Tekscan (US), Lenovo Group (Hong Kong) and Sleep Number Corporation (US).
Key questions addressed by the report:
Who are the major market players in the bed monitoring system & baby monitoring system market? What are the regional growth trends and the largest revenue-generating regions? What are the major drivers and challenges in the bed monitoring system & baby monitoring system market? What are the major type segments in the bed monitoring system & baby monitoring system market? What are the major end-user segments in the bed monitoring system & baby monitoring system market?
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