NEW YORK, November 2, 2016 /PRNewswire/ --
www.Financialbuzz.com - One of the major changes in the medical
device sector is the continuously growing emphasis on home health
care through wearable device and remote monitoring devices.
Technology now allows patients a much more flexible approach to
therapy, one that does not diminish their life styles as
previously. A recent research report by Meticulous Research
estimates that the global home medical devices market is expected
to reach $48.47 billion by 2022 with
a CAGR of 7.8% over the period of 2016 to 2022. Biotricity
Inc. (OTC: BTCY), Zimmer Biomet Holdings Inc. (NYSE: ZBH),
Baxter International Inc. (NYSE: BAX), Boston Scientific
Corporation (NYSE: BSX), Abbott Laboratories (NYSE: ABT)
As a result, a recent trend of sophisticated wearables with
remote monitoring capabilities has emerged. In addition, medical
devices and home healthcare equipment originally designed for
exclusive use in hospitals and clinical settings by trained
professionals are being redesigned for use by patients at home. The
report by Meticulous Research also points out that the shift to
home healthcare is one of several strategies being deployed to
reduce the inevitable growth in the cost of delivering healthcare
services.
Biotricity Inc. (OTCQB: BTCY) is focusing on
biometric monitoring solutions for medical, healthcare and consumer
use. Biotricity's remote patient technologies a beneficial for a
variety of chronic illnesses that provide doctors with diagnostic
tools. Earlier in October, the company announced that it has
received a 510(k) clearance from the U.S. Food and Drug
Administration (FDA) for a key component of one of its solutions -
Bioflux, an ECG monitoring device that will monitor a patient's
heart rhythm and send data in real-time to a 24-hour monitoring
lab.
On November 1st, Biotricity
Inc. announced appointment of Dr. Rony
Shimony to its Board of Advisors. Shimony is an
internationally recognized clinical cardiologist who brings to the
company over twenty-five years of experience in cardiac patient
care and related technology. Dr. Shimony is the director of
Clinical Cardiology at Mount Sinai West, which is part of the
internationally renowned Mount Sinai Health System that encompasses
a full range of cardiovascular services, including cardiovascular
prevention, complex cardiac interventions, full electrophysiology
services, heart failure and heart transplant program and more.
Waqaas Al-Siddiq, president and CEO of Biotricity Inc.,
said in a statement, "As heart disease remains the #1 killer
globally, representing 31 percent of all deaths worldwide, we are
thrilled to have Dr. Shimony bring his expertise to our advisory
board where he will collaborate with other talented and
accomplished members to help drive our strategic vision of evolving
the healthcare industry." In additional news, on October 10th, 2016, Capital Ladder
Advisory Group in their comparative analysis and valuation report,
assigned a $6 price target to
Biotricity Inc.
Zimmer Biomet Holdings Inc. (NYSE: ZBH) is a
medical device company engaged in manufacturing and marketing a
wide range of medical solutions, like orthopaedic reconstructive
products, sports medicine, biologics, extremities and trauma
products, spine, bone healing, as well as dental implants, and
related surgical products. Zimmer Biomet recently announced the
acquisition of RespondWell, an award-winning telerehabilitation
technology designed to provide personalized, clinician-supervised
post-surgical physical therapy in the comfort of a patient's home.
The technology's capability designed to enhance patient compliance
with physical therapy and improve the quality of recovery
remotely.
Baxter International Inc. (NYSE:
BAX) provides a portfolio of essential renal and hospital
products, including acute and in-center dialysis, sterile
intravenous (IV) solutions, infusion systems and devices, and more.
Last month the company was named a winner of the 15th annual
Chicago Innovation Awards for its recently launched AMIA automated
peritoneal dialysis (APD) system with SHARESOURCE remote patient
management platform. The system is a two-way, cloud-based
telehealth platform designed to promote home peritoneal dialysis
(PD) therapy. Currently the AMIA is the first and only APD medical
device to include patient-centric features that help guide
end-stage renal disease (ESRD) patients through their home therapy,
while allowing their healthcare providers to remotely view and
manage their therapy.
Boston Scientific Corporation (NYSE: BSX) is a
developer, manufacturer and marketer of medical devices that are
used in a range of interventional medical specialties. The company
has several remote patient monitoring devices in catalog - the
BodyGuardian Remote Monitoring System for example helps physicians
refine patients' care giving patients freedom to do so remotely
from home. The small discreet repositionable wireless sensor offers
full convertibility between mobile cardiac telemetry (MCT) and
cardiac event monitoring (CEM).
Abbott Laboratories (NYSE: ABT) is one of the largest
science-based, diversified healthcare companies, and has recognized
the importance of wearable and remote monitoring devices. Abbott's
Diabetes Care business worked on glucose monitoring systems such as
the FreeStyle® Libre Flash Glucose Monitoring System, a
sensor-based glucose monitoring solution that's currently available
to people with diabetes in Europe.
It is not clear when the device will launch in the United States, as the company awaits an
approval from the FDA.
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