Diagnostic tests like ECGs are used to detect and diagnose cardiovascular conditions and arrhythmias. Such tests are very common in the healthcare industry, and the U.S. ECG market alone is expected to be reach $9.32 billion in value by 2020. This market is consists of three major segments: resting (non-stress) ECG systems, stress ECG systems, and event monitoring systems. The event-monitoring segment is the largest one of the three is expected to be worth $4.66 billion by 2020.
In a radio interview to the Peggy Smedley Show, Biotricity (OTCQB: BTCY) CEO Waqaas Al-Siddiq discussed the burdens physicians are facing in the current environment of too many patients, not enough practitioners and a large amount of data with not enough time or resources to properly process it. Wearable medical devices can be particularly helpful dealing with risky patients. Physicians want a more precise data in real time from these patients, and an intelligent device can provide it.
“For medical device manufacturers to successfully enter and establish themselves in the new connected healthcare industry, it is imperative that they look beyond traditional forms of technological innovation… As we prepare to commercialize our first medical solution, we understand the importance of integrating IoT into next-generation devices within the regulatory environment, as we believe there will be a true market advantage.” Waqaas Al-Siddiq explained in a statement.