The Medical Device Industry's Focus on Cardio and Cardiovascular Needs
NEW YORK, September 30, 2016 /PRNewswire/ --
The medical devices market is very diverse, with devices that focus on various medical needs and procedures. On area where innovation is expected is the cardiac medical devices market. A research report by Absolut Reports indicates what the issues are in the market today, and its potential growth. The cardiac medical devices market in the US is estimated to grow at a CAGR of 1.82% during the period 2016-2020. . BioSig Technologies Inc. (OTCQB: BSGM), Medtronic PLC (NYSE: MDT), C R Bard Inc. (NYSE: BCR), Cardinal Health Inc. (NYSE: CAH), Edwards Lifesciences Corp. (NYSE: EW).
Two heart conditions atrial fibrillation (AF) and ventricular tachycardia (VT), characterized by irregular heartbeat, are quite common. This condition occurs when the heart is no longer able to properly function, a malfunction in the electrical impulses of the heart occurs. This could, in worth case scenarios lead to sudden cardiac arrest or heart failure. The Center for Disease Control has estimated that about 6 million people were diagnosed with AF in 2015, and it is most common in older populations, among people 60 years or above.
Medical device companies have always considered cardiology as one of the most important sectors. New innovations and developments have made heart rate measurements more accurate and analytical. Advancements are still being made in this sector and could lead to much bigger findings. BioSig Technologies Inc. (OTCQB: BSGM) for example is a development-stage medical device company which is focused on a technology platform to manage noises and artifacts from cardiac recordings during electrophysiology studies and ablation. The platform is the Precise Uninterrupted Real-time evaluation of Electrograms (PURE) electro-pneumatic (EP) System.
The PURE EP system is a novel platform designed to obtain and display important clinical data during electrophysiology procedures. BioSig Technologies Inc. ( BSGM) claims the system to be precise, uninterrupted, capable of real-time evaluations of Electrograms. The feature of the PURE EP System that are designed to improve upon today's devices used for similar procedures by detecting and displaying high fidelity cardiac signals, which the company claims are not detectable by other recording devices.
The technology used in the PURE EP has been discussed in studies from Texas Cardiac Arrhythmia Institute, Mayo Clinic, Mount Sinai and UCLA with data presented at world-renowned conferences. The data positively indicates that the technology has the potential to shorten procedure time as well as eliminating, or the very least reducing the need for repeated procedures, which are frequent with devices used today. BioSig Technologies Inc. (BSGM) plans to apply via a 510(k) pathway with the Food and Drug Administration in the first half of 2017.
Large cap companies like Medtronic PLC (NYSE: MDT) is a medical technology and services company that manufactures and markets its medical devices and technologies to hospitals, physicians, clinicians and patients in approximately 160 countries. The company has a cardiac and vascular segment includes products for cardiac rhythm and heart failure monitoring. The company's resynchronization therapy is a proven treatment for selected heart failure patients with a wide QRS. When used in combination with optimal medical therapy, cardiac resynchronization therapy improves symptoms and extends survival.
C R Bard Inc. (NYSE: BCR) is a designing, manufacturing, packaging, distribution and sale of medical, surgical, diagnostic and patient care devices. The company has a cardiac monitoring division, which provides Temporary Pacing Electrode Catheters. The catheters designed to reduces the need for repositioning, saving physician time and minimizing patient discomfort.
Cardinal Health Inc. (NYSE: CAH) a healthcare services and products company. For evaluating cardiovascular disease, the company is known for Single-photon emission computed tomography (SPECT) which is a nuclear medicine tomographic imaging technique using gamma rays. Cardiac SPECT can identify areas of the heart which do not receive adequate blood flow during stress, called ischemia, as well as find areas of irreversibly damaged heart, or scar. It is considered to be a very important tool for detecting and evaluating cardiovascular disease.
Edwards Lifesciences Corp. (NYSE: EW) is focused on developing technologies that treat structural heart disease. The Company is known for their heart valve systems and repair products used to replace or repair a patient's diseased or defective heart valve. The company's cardio medical devices are hemodynamic monitoring systems used to measure a patient's cardiovascular function in the hospital setting.
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