NEW YORK, June 20, 2016 /PRNewswire/ --
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)
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.
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