Bed Monitoring System & Baby Monitoring System Market: Overview
Rising adoption of unobtrusive monitoring solutions and rising investment of healthcare infrastructure have strengthened the bed monitoring system & baby monitoring system market’s expansion. Moreover, continuous monitoring systems have become imperative with the rising number of patients admitted to hospitals. It is highly cumbersome to keep a track of changes in the heart and respiratory rates of each patient. This calls for need to adopt a system that provides real-time alerts pertaining to the patients’ health.
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The rising popularity of baby monitors as an essential parenting product and the development of advanced bed monitoring systems has encouraged TMR analysts to conduct exhaustive research on the bed monitoring system & baby monitoring system market. In its latest study TMR highlights the latest trends, opportunities, and developments in the market.
Bed Monitoring System & Baby Monitoring System Market: Notable Developments and Competitive Analysis
The companies operating in the bed monitoring system & baby monitoring system market are focused on new product developments and strategic collaborations to enhance their technological strength. Listed below are a few notable developments in the market:
- In April 2019, EarlySense, a leader in contact-free continuous monitoring solutions announced the launch of its advanced sleep analysis engine and sleep sensor into Real Sleep in collaboration with KDDI Corporation. This EarlySense sensor is connected to the Real Sleep app that helps in accurately measuring the user’s sleep score, sleep time, and sleep depth. This collaboration is a part of the cooperative research and development between Japan and Israel.
- In 2019, Hill-Rom Inc. and Wells Fargo Strategic Capital participated in $39 million round for EarlySense. Hill-Rom and EarlySense engaged in a partnership aimed at integrating EarlSense’s monitoring technology in Hill-Rom’s smart beds. The Israel Innovation Authority also participated in the investment round for EarlySense.
- In 2019, Eight Sleep launched a new smart mattress called the Pod that adjusts its temperature throughout the night in accordance with your sleep habits. Moreover, it also allows you to track your sleep and integrate smart home devices such as Alexa, Philip Hue smart lights, and Nest.
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Leading companies functioning in the bed monitoring system & baby monitoring system market include:
- Eight Sleep
- Smart Caregiver Corporation
Bed Monitoring System & Baby Monitoring System Market: Key Drivers
Rising emphasis on reducing the cost of fall injuries and pressure ulcers treatment is one of the leading causes of the market’s expansion. The sleep monitoring solutions are expected to fetch maximum revenue benefits for the bed monitoring system & baby monitoring system market. This is mainly because of growing awareness regarding monitoring sleep patterns. Moreover, people are increasingly using baby monitors and sleep monitors in homecare settings.
Furthermore, development of smart bed monitoring solutions and rising sleep-related disrorders have contributed to the market’s growth. Lack of awareness regarding the use of sleep monitoring solutions in developing regions may confine the bed monitoring system & baby monitoring system market’s growth. However, robust marketing campaigns launched by the manufacturers may offset the effect of the restraint.
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Bed Monitoring System & Baby Monitoring System Market: Regional Analysis
North America is expected to dominate the global bed monitoring system & baby monitoring system market due to the rising cases of sleep-related health problems and rising awareness pertaining to bed monitoring and baby monitoring solutions. The market in Asia Pacific is expected to grow at the fastest pace due to rising expenditure on healthcare and favorable medical insurance policies.