Thriving Global Medical Device Industry Projected to Top $400 Billion by 2023
Palm Beach, FL – (December 19, 2018) – While many medical industry professionals know very well the reality that life expectancy and as well as emerging economies’ are increasing expenditures on healthcare, one glaring fact persists of the obvious need for advanced medical devices are more important than ever. As a result, a prime example could be the cardiology marketplace within the medical devices industry that is being transformed by advancements in Electrocardiographic technologies. High technological adoption in the U.S. coupled with increasing research activities pertaining to development of new cardiac technology and devices has positively impacted market growth. In a recent study released by ResearchAndMarkets.com, the global medical device market is expected to reach an estimated $409.5 Billion by 2023, and it is forecast to grow at a CAGR of 4.5% from 2018 to 2023. Major factors for the growth in the medical devices industry are aging population, technological development, prevalence of cardiovascular diseases as well as other chronic conditions and maladies. Active healthcare stocks in news today include: BioSig Technologies, Inc. (NASDAQ:BSGM), Medtronic plc (NYSE:MDT), DexCom, Inc. (NASDAQ:DXCM), Abbott Laboratories (NYSE:ABT), Johnson & Johnson (NYSE:JNJ).
BioSig Technologies, Inc. (NASDAQ:BSGM) BREAKING NEWS – BioSig Technologies, a medical device company developing a proprietary biomedical signal processing platform designed to address an unmet technology need for the $4.6 billion electrophysiology (EP) marketplace, today announced that the Company has appointed Mrs. MaryAnn Edzards as Senior Director – Account Manager.
Mrs. Edzards brings to the Company over 10 years of experience in electrophysiology (EP), including six years at Biosense Webster, a Johnson & Johnson company. Most recently, she served as New Technology Education Manager, a role, in which she was responsible for all internal and external marketing and training programs for two global product launches. Mrs. Edzards facilitated training of over 300 field and in-house employees and delivered impactful training modules for complex technologies through virtual and live classroom environments. She brings to BioSig extensive experience in converting Voice of Customer feedback into commercially valuable solutions. Mrs. Edzards is a holder of numerous Johnson & Johnson awards, including 2016 Standards of Leadership Award and 2017 Gold Encore Award from Commercial Marketing.
“A high-performing and motivated professional like MaryAnn is an invaluable addition to our commercial team. Her expertise in delivering highly impactful education and training of both in-house professionals and physicians will tremendously benefit our efforts during the vital First-in-Human patient data collection phase and subsequent market launch in 2019,” stated Mr. Kenneth Londoner, Chairman & CEO of BioSig Technologies, Inc.
The Company announced that it received the 510(k) clearance for its PURE EP™ System on August 14, 2018. BioSig announced on November 28, 2018 that it begins installations of the first systems at Texas Cardiac Arrhythmia Institute in Austin, Texas, followed by another announcement on December 6, 2018 about enrolling Mayo Clinic as the second center for the First-in-Human studies. BioSig signed a 10-year collaboration agreement with Mayo Clinic in March 2017 and announced a new research agreement focusing on development of additional advanced features and potential new applications of PURE EP™ System on November 13, 2018.
“I’m excited to join the BioSig team as the Company commences first installations of PURE EP™ System in some of the leading medical centers of excellence. There is a pressing need for better technological solutions in the space of arrhythmia treatments, and I look forward to contributing my knowledge and expertise to help the Company bring its novel platform onto the market,” commented Mrs. Edzards. Read this and more news for BSGM at: https://www.financialnewsmedia.com/news-bsgm
In other healthcare and medical devices industries news of note:
Johnson & Johnson (NYSE:JNJ) Medical Devices Companies* announced this year that Biosense Webster, Inc., a worldwide leader in the diagnosis and treatment of heart arrhythmias, has enrolled and treated the first patient in its QDOT AF Study.** The study will evaluate the delivery of high power, short duration ablation with QDOT MICRO, a novel radiofrequency (RF) ablation catheter for the treatment of paroxysmal atrial fibrillation (AF). The first AF patient was treated successfully at OLV Hospital in Aalst, Belgium, one of eight centers in Europe as part of the study that will enroll up to 50 patients. An estimated 33 million people worldwide have been diagnosed with AF and its prevalence is projected to increase significantly as the population ages. Approximately 70 percent of patients with AF are between the ages of 65 and 85.
Abbott (NYSE:ABT) announced this year that the HeartMate 3™ Left Ventricular Assist Device (LVAD) has received U.S. Food and Drug Administration (FDA) approval as a destination therapy for people living with advanced heart failure. With the approval, physicians can now offer the HeartMate 3 system to patients not eligible for a transplant who will live with their device for the rest of their lives. More than 5.7 million Americans suffer from heart failure, and there are approximately 915,000 new patients diagnosed with the disease annually. For advanced heart failure patients who can no longer rely on earlier stage treatment options, LVAD’s take the workload off a weakened heart by pumping blood through the body—providing crucial, life-saving support for patients awaiting a heart transplant or for those not able to receive one.
DexCom, Inc. (NASDAQ:DXCM), a leader in continuous glucose monitoring (CGM), and Verily, an Alphabet company, recently announced an amendment to the Collaboration and License Agreement surrounding the ongoing development efforts between the companies. The revised terms are intended to reinforce the companies’ mutual product development goals, while expanding options for future collaborations. The agreement also accelerates Dexcom’s efforts to advance into the Type 2 diabetes space and improves its future profitability.
Medtronic plc (NYSE:MDT) today announced it has completed the acquisition of Israel-based Mazor Robotics (NASDAQ:MZOR). Under the terms of the acquisition agreement announced on September 20, 2018, Mazor shareholders will receive $58.50 per American Depository Share, or $29.25 per ordinary share, in cash. The total value of the transaction is reported at $1.7 billion, or $1.3 billion net of Medtronic`s existing stake in Mazor and cash acquired. Medtronic`s acquisition of Mazor ranks among the largest orthopedic deals completed in 2018. This acquisition strengthens Medtronic`s position as a global innovator in enabling technologies for spine surgery. By combining Medtronic`s market-leading spine implants, navigation, and 3D imaging technology with Mazor`s robotic-assisted surgery systems, Medtronic offers a fully-integrated procedural solution for surgical planning, workflow, execution and confirmation.
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