There is an increasing focus on remote monitoring and out-of-hospital care due to the COVID-19 pandemic and rise in healthcare costs. This development has significantly increased demand for multiparameter patient monitoring devices in the out-of-hospital settings. Moreover, the increasing burden on the healthcare workforce has positively impacted demand for devices that support remote monitoring and virtual care.
• Vendors operating in the multiparameter patient monitoring devices sector are introducing new software and platform solutions that support multiparameter patient monitors by offering clinical decision support, patient management, alarm management, hospital workflow management, telemetry monitoring unit, predictive monitoring, and virtual care support.
• Additionally, vendors are exploring newer business models such as monitoring-as-a-service, and subscription-based models to shift cost from capital expenditure to operating expenditure, make these solutions more affordable to customers and drive growth.
• Vendors are also exploring new patient monitoring technologies such as wearables which enable them to cater to a broader range of patients.
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