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(Health-NewsWire.Net, October 31, 2019 ) The bed monitoring system & baby 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%
The growth of Bed Monitoring System 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.
The bed monitoring system & baby monitoring system market is divided into baby monitoring, elderly monitoring, bedsore monitoring, and sleep monitoring. The baby monitoring segment accounted for the largest share of the bed monitoring system & baby monitoring system market in 2018. The large share of this segment is attributed the availability of new products, increasing awareness among parents, and growing adoption of baby monitors in homecare settings.
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The bed monitoring system & baby monitoring system market is segmented into homecare settings, hospitals, nursing home, and assisted living facilities. The homecare settings segment dominated the bed monitoring system & baby monitoring system market in 2018.
In 2018, North America held the largest share of the bed monitoring system & baby monitoring system market. However, Asia Pacific is estimated to grow at the highest CAGR during the forecast period. The rapid growth in the healthcare industry, widespread policy reforms, the rapidly growing middle-class population with increasing purchasing power, and significant investments in infrastructural development are supporting the growth of the Asia Pacific bed monitoring system & baby monitoring system market.
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The prominent players in the bed monitoring system & baby monitoring system market are 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).
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Mr. Shelly Singh
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raviraj.tak@marketsandmarkets.com
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