Medical Baby Monitoring Devices Market to Grow at 5.6% CAGR during Forecast Period, observes TMR Study

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Nov 02, 2022, 10:00 ET

Due to their higher practicality and usefulness, wireless baby monitor category is likely to lead the global market for medical baby monitoring devices
Rise in the popularity of childcare facilities for working parents include video and audio baby monitors and other amenities to assist parents in caring for their children is projected to raise use of medical baby monitoring devices

WILMINGTON, Del., Nov. 2, 2022 /PRNewswire/ -- In 2021, the value of global medical baby monitoring devices market stood at US$ 1.2 Bn. It is projected that the global market is estimated to rise at 5.6% CAGR during the forecast timeframe, from 2022 to 2031. By 2031, the global medical baby monitoring devices market is anticipated to touch valuation of US$ 1.9 Bn. The demand for medical baby monitoring devices is being fueled by the rise in the number of working parents and their increasing worry regarding the safety of their infants. Besides, it is anticipated that the rising popularity of daycare facilities amongst working parents, who is likely to go for best infant health monitoring gadgets, is likely to open up new business opportunities for the market players.

The global market is anticipated to grow as a result of modern innovations and quality enhancement in monitoring devices like newborn pulse oximeters, breathing monitors, etc. are made by major players. Such technologically advanced products are considered best baby monitors. Given that consumers in North America have a larger purchasing capacity for infant care items, the region is projected to generate the most demand for medical baby monitoring devices. By offering their products through several online e-commerce platforms, major firms are also extending their geographic reach.

In order to raise their demand, a number of end-use industries of the medical baby monitoring devices market are concentrating on new product developments including newborn pulse oximeters, sensors and baby monitors, and so on.

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Key Findings of Market Report

The growing prevalence of working parents is an outcome of changes in lifestyle. Hence, the idea of baby monitors, or monitoring gadgets, is becoming more popular all over the world. The demand for baby care items including baby breathing monitors, child safety locks, baby monitoring systems, home fetal monitors, etc. is also being fueled by better understanding of sudden infant death syndrome (SIDS), commonly known as "cot death."
Ongoing technological advancements are assisting in the making of smart and sophisticated baby monitors and sensors, including baby movement monitors, infant BP monitors, and wearable technology for baby monitoring. This element is likely to help increase demand for the best baby breathing monitors of 2022.
Based on product type, the market is anticipated to be dominated by video baby monitors over the projection timeframe. These monitors are utilized by parents who want additional security and want to keep an eye on their children whilst they are gone. The demand for video baby monitoring is mostly brought on by rising levels of disposable income as well as parents' escalating safety concerns.
The market for medical baby monitor devices is anticipated to be dominated by the wireless baby monitor category throughout the forecast period. These baby monitors are more convenient and useful as they don't contain cables.

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Global Medical Baby Monitoring Devices Market: Growth Drivers

As a result of rising investment on baby care products, North America presently maintains the leading position of global medical baby monitoring devices market. In North America, the use of these devices has risen, with Canada and the U.S. being two of the primary contributors. One of the main factors fueling expansion of the global market is the growing use of e-commerce sites for shopping. This is primarily due to the fact that top baby health monitoring devices are now more readily available in the region.

Global Medical Baby Monitoring Devices Market: Key Players

Some of the key market players are

VTech Holdings Limited
Motorola Solutions, Inc.
Sony Corporation
Koninklijke Philips N.V
Dorel Industries Inc.
Summer Infant Inc.

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Global Medical Baby Monitoring Devices Market: Segmentation

Product Type

Video Monitor
Audio Monitor
Others

Connectivity

Wired Baby Monitor
Wireless Baby Monitor

Hardware

Camera
Sensors

Application

Hospital
Residents
Nursery

Price

Low
Medium
High

Distribution Channel

Online
Offline

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