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Bed Monitoring System & Baby Monitoring System Market size is slated to register substantial growth between 2023 and 2032 led by the increasing investments in the healthcare sector.
The increasing disposable incomes across developed and developing countries are pushing the consumer spending in modern monitoring and surveillance systems for children. Young parents are heavily investing in advanced intrusive surveillance technologies to check on their baby’s movements. The rising number of working women has further led to the surge in the adoption of these systems. Moreover, the promising rise in the birth rate and the rapid penetration of next-gen technologies such as AI, IoT, and robotics will enhance the bed monitoring system and baby monitoring system industry expansion.
The emergence of the COVID-19 pandemic further propelled the demand for bed and baby monitoring systems worldwide with the increasing adoption across healthcare facilities, and in-home care settings. It accelerated the need for contactless and innovative monitoring systems to effectively cater to the patient needs.
However, the Russia-Ukraine war may impact the bed monitoring system & baby monitoring system market, particularly across Europe. The influx of this conflict is expected to have far-reaching disruptions and effects on the global supply chain, thereby affecting the health and medical sector worldwide. Furthermore, the war has fuelled the inflation rate worldwide, compelling severe economic and lifestyle adjustments.
Based on type, the market is classified into elderly monitoring, sleep monitoring, baby monitoring, and pressure ulcer monitoring. Among these, the sleep monitoring segment is predicted to hold a notable share by 2032 owing to the rising prevalence of sleep-related health issues, such as obesity. As per the American Sleep Association, more than 50-70 million adults in the U.S. suffer from a sleep disorder.
The rising concerns over lack of sleep will also drive the product gains as it increases the risk of chronic illnesses, such as heart disease, type 2 diabetes, and depression. According to a 2022 report by the National Sleep Foundation, approximately 10% to 30% of adults have chronic insomnia, with a prevalence of between 30% and 48% in older adults. The growing popularity of sleep tech devices is another trend anchoring the market progression.
With respect to end-use, the bed monitoring system & baby monitoring system market share from the homecare settings segment is anticipated to increase significantly through 2032. The growing adoption of bed monitoring systems in homecare facilities can be attributed to the rising revenue for in-home unobtrusive monitors. Over the past decade, the geriatric population has increased dramatically, contributing to massive pressure on healthcare and homecare setups for the provide adequate services to the elderly population. As per the World Health Organization (WHO), the geriatric population is set to double by 2050, exceeding 2 billion. This trend is likely to influence the segment expansion.
North America bed monitoring system & baby monitoring system market size is poised to record stellar value over 2032 led by surging investments in the healthcare sector. In the recent past, multiple efforts by several government entities have been taken to strengthen the healthcare infrastructure to better address the growing disease burden. For instance, in November 2022, the New Jersey Department of Health (NJDOH) announced an investment of USD 116.5 million for boosting the public health infrastructure.
The competitive landscape of the bed monitoring system & baby monitoring system market includes Tekscan, Eight Sleep, Early Sense, Wellsense, Lenovo Group, Smart Caregiver Corporation, EMFIT, and Sleep Number Corporation. These companies are developing highly advanced products to increase their customer base.