Medindia LOGIN REGISTER
Medindia
Advertisement

Innovation in Wearable Devices in the Medical Sector Surge

Monday, June 20, 2016 Medical Gadgets
Advertisement
NEW YORK, June 20, 2016 /PRNewswire/ --
Advertisement

While wearable technologies become more of a trend and more user friendly, there is an entire segment of wearable devices that is not being discussed often, but on the rise - medical wearable devices. Such devices are used to monitor blood sugar level, sleep apnea disease, blood pressure levels, heart rates, sleep patterns, skin temperatures and more. Biotricity Inc. (OTC: BTCY), Siemens AG (OTC: SIEGY), Fitbit Inc. (NYSE: FIT), Alphabet Inc. (NASDAQ: GOOGL) Medtronic PLC (NYSE: MDT)
Advertisement

Unlike Fitbit Inc. (NYSE: FIT) wearable fitness tracking devices, not all wearable medical devices are intended for mass consumption, and yet the value of this segment should not be underestimated. According to a market research report conducted by ResearchAndMarkets the medical wearable devices market is expected to grow 21.3% by 2020, reaching revenues of $41.3 billion.

The report indicates that North America holds the largest share in the global the medical wearables market, which is explained by increasing awareness regarding personal health, a growing elderly care market and increasing governmental funding for innovation in the field. The European market accounts for about 30% of the overall global revenue, followed by the Asia Pacific region.

In recent years the United States and Canadian governments have been quite open in helping small companies to invest in research and development. Earlier this year Biotricity Inc.) (OTCQB: BTCY), a healthcare technology company dedicated to delivering innovative, medically relevant biometric remote monitoring solutions, has been awarded a research grant from the National Research Council-Industrial Research Assistance Program (NRC-IRAP) of Canada. The grant enables Biotricity to conduct research around the use of heart rate variability (HRV) in various applications for preventative medicine.

Biotricity has two devices under development that will launch into the market this year, Bioflux - a heart-rhythm monitoring device that connects to an industry leading ECG (Electrocardiogram) FDA cleared software component and Biolife - designed to provide health and lifestyle solutions by monitoring ECG, respiration rate, calories, temperature, physical activity and more.

In Europe, the German based company Siemens AG (ADR) (OTCMKTS: SIEGY) has produced several innovative products and software for the medical wearables sector. An example, Siemens developed a software that enables images from their Freestyle ultrasound unit to be projected on the Alphabet Inc. (NASDAQ: GOOGL) Glass display.

Developing apps for wearable devices that can then be used for medical purposes is an intriguing proposition. In 2014 Google Glass was used during a surgery removing a tumor from a patient's abdominal cavity. The surgeons voice commands to view the patient's MRI scans and X-ray images during the operation, essentially making it hands free.

Another example is Medtronic plc (NYSE: MDT), headquartered in Dublin, Ireland, is among the world`s largest medical technology, services and solutions companies in this sector. At the moment, wearable medical devices mostly depend on the user's intervention to start working and record data, which then will be analyzed. Most of the devices are manufactured with sophisticated sensors, which monitor metabolic changes and generate results in seconds. The next generation of wearable devices in the medical segment is expected to provide a real time analysis of the data together with appropriate feedback regarding the user's health. So there is a lot to wait for.

For "The Latest Buzz in Financial News", Please Visit: http://www.FinancialBuzz.com

About FinancialBuzz.com  

FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content.

FinancialBuzz.com also provides financial news PR branding, marketing and advertising for third parties for disseminating news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the "Site") is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into service agreements with the companies which are the subject to the articles posted on the Site for advertising such companies. Financialbuzz.com has signed a three month financial news pr services agreement for fifteen thousand dollars directly from biotricity inc. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting the high quality and sophisticated content on this site along with other financial news pr media services.  Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this site, or a combination thereof.  The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com agreed to a three month financial news pr services agreement for fifteen thousand restricted shares directly from the company and additional same amount at the end of the term. We do not undertake to update any of the information on the Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security.  FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on the Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print.  Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use. Please visit: http://www.financialbuzz.com

Media Contact: Danny A. [email protected] +1-877-601-1879

SOURCE FinancialBuzz.com

Sponsored Post and Backlink Submission


Latest Press Release on Medical Gadgets

This site uses cookies to deliver our services.By using our site, you acknowledge that you have read and understand our Cookie Policy, Privacy Policy, and our Terms of Use  Ok, Got it. Close