#Wearable
#MedicalDevices Snapshot - (OTC: $GTCHD) (NYSE: $SENS) (Nasdaq: $GRMN) (Nasdaq:
$DXCM) (Nasdaq: $GOOG) @senseonics @Garmin @Google;
#artificialintelligence
Point Roberts WA, Vancouver BC–October 27, 2021 –
Investorideas.com (https://www.investorideas.com/),
a global investor news source covering Artificial Intelligence (AI) issues a sector snapshot looking at
the wearable medical device market, featuring technology company GBT Technologies
Inc. (OTCPINK:GTCHD).
Read this article,
featuring GTCHD in full at https://www.investorideas.com/news/2021/artificial-intelligence/10271GTCHD-SENS-GRMN-DXCM-GOOG.asp
With ongoing developments in areas such as Internet of
things (IoT) and Artificial Intelligence (AI), and given the backdrop of the
COVID-19 pandemic, the demand for mobile or wearable medical devices is,
understandably, on the rise. In fact, research published by Coherent Market Insights finds that the global
wearable medical devices market, which was valued at approximately $29.83
billion USD in 2020, is projected to reach $50.89 billion by the end of 2027.
This category encompasses wearable therapeutic devices, wearable monitoring and
diagnostic devices, and health and fitness devices. And it’s not only, or even
mainly, COVID-19 driving demand. According to the report’s summary, demand for
wearable medical devices is expected to be driven by a “high prevalence of
chronic diseases,” and an “increasing geriatric population.”
One company that recently announced plans for this space is GBT
Technologies Inc. (OTC PINK:GTCHD).
GBT, an early stage technology developer in (IoT), Artificial Intelligence (AI)
and Enabled Mobile Technology Platforms is now roadmapping a wearable version
of its qTerm human vitals device. The current finger-touch version of the qTerm
measures a user’s body temperature, blood oxygen level and heart rate. Danny
Rittman, the company’s CTO, explained:
"It
is only natural to create a wearable version of qTerm technology. One of the
major advantages of a wearable form of qTerm is its capabilities to take health
related measurements; independently, and without the user's awareness, this
feature can be enabled upon the user's permission. We see this feature as a
great advantage; especially, when users may forget to take their scheduled
vitals, not aware of a potential problem. The wearable version of qTerm will be
equipped with the same AI system for on-going health monitoring, and it will
learn about a user's health condition and perform scheduled checks to ensure
good health. These checks will be executed throughout the day or night and in
case of abnormalities the user will be alerted, and can be an efficient health
monitoring system for the elderly; 24/7. In qTerm's finger-touch version the
responsibility to perform a vitals check lies on the user remembering to take
these on time. However, with the wearable device the checks will be
automatically executed throughout the day in case the user forgets their daily
health-related duties, this system will do it for them. qTerm wearable will
include a website synchronized mobile application for results representation.
This advanced mobile application will make the qTerm wearable device a personal
health monitoring system constantly on the watch, checking, analyzing and
advising/alerting about any health concerns.”
Chronic diseases were cited as key drivers of the
wearable medical device market by the aforementioned Coherent Market Insights
report, and one such chronic disease is diabetes. Medical technology company
Senseonics Holdings, Inc. (NYSEAmerican:SENS),
which focuses on the development and commercialization of the long-term,
implantable continuous glucose monitoring (CGM) system for people with
diabetes, and Ascensia Diabetes Care, the makers of the CONTOUR family of
diabetes blood glucose monitoring devices and commercialization partner for
Senseonics, recently announced that the University Hospitals
Accountable Care Organization (UHACO) in Cleveland, Ohio has begun offering the
Eversense CGM System to its Medicare enrollees effective early September, 2021.
According to the press release, the Eversense CGM System “consists of a
fluorescence-based sensor, a smart transmitter worn over the sensor to
facilitate data communication, and a mobile app for displaying glucose values,
trends and alerts.” Betul Hatipoglu, M.D., Head of Endocrinology and Diabetes
at UHACO, commented:
"We
are excited to offer Eversense to our ACO patients with diabetes. Supplying
tools for effective glucose management allows us to meet the Standards of Care
for patients using insulin as outlined by the American Diabetes Association.
Eversense offers patients choice amongst continuous glucose monitoring devices.
The Eversense CGM system delivers industry leading accuracy, an improved
patient experience, and an array of unique features that afford people,
especially those in the Medicare population, the opportunity to achieve
improved health outcomes."
Similarly, Garmin International, Inc., a unit of
multinational tech firm Garmin Ltd. (NasdaqGS:GRMN), recently introduced the Dexcom Connect IQ apps,
“providing people with Type 1 and Type 2 diabetes who use the Dexcom®
G6 Continuous Glucose Monitor (CGM) System1 with a way to quickly
see their glucose levels and trends – even while working out – right on their
compatible Garmin smartwatch or cycling computer.” Jake Leach, CTO at Dexcom (NasdaqGS:DXCM), said:
"The
addition of Garmin wearables and cycling computers to the Dexcom CGM ecosystem
is an exciting advancement for Dexcom users who are now able to easily view and
monitor their glucose levels from their favorite Garmin device. Garmin is our
first partner to connect to Dexcom G6 through our new real-time API –
showcasing the value of integrated CGM and further solidifying Dexcom G6 as the
most powerful and connected CGM in the world."
Recently Onduo, part of life sciences research
organization Verily, an independent subsidiary of Alphabet Inc. (NasdaqGS:GOOG), recently announced that it “will offer Fitbit devices
and Fitbit Premium as part of the company’s approach to whole person health.”
Fitbit is a subsidiary of Alphabet Inc.’s Google. Dr. Vindell Washington, MD,
CEO of Onduo, said:
“With
a mission to help people get healthier, Fitbit helps users manage their
holistic health and wellness, making them a perfect complement to our whole-person
health promise. Together with Fitbit, we’ll be able to better support
condition-specific management and our members' overall health and wellness by
providing new tools and actionable guidance to support their health journeys.
For example, in using Fitbit Onduo members will receive Fitbit insights like
how increased activity can decrease resting heart rate — and they will be able
to proactively engage in the management of their activity, sleep and
nutrition.”
Earlier this year, Royal Philips (NYSE:PHG) advanced the case for wearable
devices for cardiac conditions with its acquisition of remote cardiac diagnostics and
monitoring firm BioTelemetry, Inc. A Philips spokesperson told Medical Device Network:
“The
acquisition of BioTelemetry will add to [Philips’ portfolio of] leading cardiac
diagnostics and monitoring solutions, comprised of wearable connected heart
monitors, AI-based data analytics and services. These clinically validated
solutions are focused on the diagnosis and monitoring of heart rhythm
disorders.
BioTelemetry
provides services for over one million patients per year and has built the
world’s largest remote cardiac monitoring services network. Acquiring
BioTelemetry will further broaden and scale our patient care management
solutions for the hospital and the home to enhance patient outcomes, streamline
clinical workflows and increase productivity.”
So while future research might indicate more clearly
the impact of COVID-19 on the market, it is clear that demand for wearable
medical devices is well established and growing regardless.
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