Efforts to address the core risk factors associated with cardiovascular diseases are coinciding with recent innovations in medical technology, which have been critical in not only preventing and managing them but also increasing the survival rate.
As medical technologies associated with the diagnosis and treatment of cardiovascular disease continue to evolve, medical technology companies provide an opportunity for investors to create wealth through health.
In 2022, the cardiovascular medtech market was valued at US$55 billion, and that value is expected to increase at a compounded annual growth rate of 6.5 percent over the next several years, reaching a projected US$97.4 billion by 2032, according to market research and advisory firm Custom Market Insights. This growth will be driven, at least in part, by a global aging population — as cardiovascular disease becomes more prevalent, interest in and demand for cardiovascular medical technologies will concurrently increase.
Like with other medtech sectors, the nature of that demand will focus just as much on the patient experience as on patient outcomes. Companies that offer minimally invasive procedures will have a competitive edge among patients, as will those that offer value-based care and outcomes-based reimbursement models. We can also expect to see the continued growth of telemedicine-based solutions that leverage mobile applications and wearable devices for remote patient monitoring, real-time data collection and self-management of heart health.
Artificial intelligence (AI) will also play an increasingly prominent role moving forward. AI-based healthcare solutions will enable more precise and predictive diagnostics, better treatment planning and enhanced personalisation of patient care. Industry observers believe the integration of AI and machine learning into patient care will also considerably amplify precision medicine.
Essentially another word for personalised care, precision medicine tailors a patient’s treatment strategies based on their lifestyle, genetic makeup and specific disease characteristics. Precision medicine also leverages biomarker analysis and genetic testing to identify patients at higher risk for certain conditions. AI is ideal for this testing.
With the guidance of human physicians, AI can parse massive quantities of data to identify patterns which might be functionally invisible to the human eye — all in the interest of better patient care. Coupled with the increasing prominence of wearable technology, AI can also help to enable better detection of irregularities and swifter proactive intervention. Algorithmic monitoring and adjustment of cardiac devices is also a promising possibility.
Cardiovascular medtech continues to grow at a promising pace, with AI, wearable technology and consumer-focused applications improving the patient experience through better connectivity, communication and care. Yet promising though these technologies may be, they are simply a foundation for even greater advancements. One area that has received significant focus, particularly in recent years, is pulsed-field ablation (PFA) — an emerging technology that uses thermal energy to combat heart arrhythmia.
The CONNEQT Pulse marks a significant leap forward in precision medicine, making advanced cardiovascular insights accessible at home. By utilising Cardiex’s cutting-edge SphygmoCor technology, this device offers heart health insights once confined to specialised medical settings. By facilitating at-home monitoring and seamlessly connecting that data to physicians, the CONNEQT Pulse empowers patients to manage their heart health with unprecedented precision and convenience, enhancing early detection and intervention, and supporting personalised treatment plans for people with heart diseases such as hypertension (high blood pressure).
The five companies selected for HeartX 2023 are especially promising. They include a wireless, wearable doppler ultrasound device from Flosonics Medical; a solution that detects the risk of atrial fibrillation using a smartphone camera (Happitech); a low-frequency acoustical vibration device that monitors a patient’s heart through their ear canal (MindMics); a remote diagnostics tool that combines AI with nanosensor cloth (Nanowear); and a 7/14 day patch that offers remote, real-time 7-lead electrocardiogram and vitals monitoring (SmartCardia).
Given that it is the leading global cause of death, it should come as little surprise that there is so much technological innovation focused on the treatment and care of cardiovascular diseases. Cardiovascular medtech is and will remain a market filled with investment opportunities. Savvy investors who know where to look and which companies to watch can generate considerable wealth, all while helping create better patient outcomes and care.
This INNSpired article was written according to INN editorial standards to educate investors.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
Leave a Reply