Sales of Medical Wearable Devices Jump in 2016
NEW YORK, July 13, 2016 /PRNewswire/ --
http://www.FinancialBuzz.com - New data published this month by Future Market Insights reveals the global shipments for medical wearable devices in the first half of 2016. According to the report shipments of such devices will surpass 106 million in 2016. Revenue for the devices are expected to cross $US 23,980 million, which is a 4.8% growth year over year. Biotricity Inc. (OTC: BTCY), SiemensAG (OTC: SIEGY), Fitbit Inc. (NYSE: FIT), Medtronic PLC (NYSE: MDT), Koninklijke Philips NV (NYSE: PHG)
The report explains the increase in popularity of medical wearable devices by pointing out that the new technology, for the first time, is allowing patients with diseases that require round-the-clock monitoring, to be more flexible. Devices are now able to deliver crucial data to physicians from afar, in real time.
The report indicates that the main obstacle for such devices are the high cost. This too is temporary, as competition is expected to grow in this field, which drive prices down and making the devices more affordable.
As a result of high growth potential in an expanding segment of an already popular sector, start-ups and SMEs (small and medium size enterprises) have appeared. Companies like Biotricity Inc. (OTCQB: BTCY) have been active in development and innovation of medically relevant biometric remote monitoring solutions.
Biotricity's first medical solution, the Bioflux will combine a proprietary mobile ECG monitoring device and an ECG viewer software package. The combination will enable physicians to remotely monitor and diagnose patients with cardiovascular disease and coronary heart disease by detecting arrhythmias, using an accredited 24-hour, 7 day per week, ECG monitoring facility. Earlier in June, Biotricity has filed for a 510(k) with the U.S. Food and Drug Administration (FDA), and expects to receive a response submission by early fall.
An upcoming catalyst for the company was released on July 5th, Biotricity Inc. announced that it "will be demonstrating its revolutionary Internet of Things (IoT) -connected medical device at Shape, an AT&T Tech Expo being held on July 15-16, 2016 at AT&T Park in San Francisco, CA."
The leading player in the wearable devices sector remains Fitbit Inc. (NYSE: FIT), yet their devices are more fitness trackers than medical devices. As competition intensified however, Fitbit was forced to rethink its business and what their next step will be. As was expected, in April the company announced that it will venture into medical devices. This is an important catalyst for Fitbit, as the FDA will test the company's technology and comment on it.
Other major players in this sector include Medtronic plc (NYSE: MDT), Siemens AG (OTC: SIEGY), and Koninklijke Philips NV (NYSE: PHG) all of which have medical wearable devices of some kind in their product portfolios already, and plan to expand further their presence in this sector. Medtronic plc in particular has released impressive technology. The company's devices manufactured with sophisticated sensors, which monitor metabolic changes and generate results in seconds.
The popularity of such devices is expected to gain traction globally, but for now North America is still the largest market, followed by Western Europe and then by the Asian Pacific region.
Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz
Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/
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
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article