This Medical Technology Company Thinks the Cardiac Chronic Care Market Presents a Possible Big Opportunity

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The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

Heart disease is the leading cause of death for men and women in America, causing 1 in 4 deaths. Every 36 seconds an American dies from a heart-related issue, with the most common form being coronary heart disease.

Many factors can lead to heart disease: high blood pressure, high cholesterol, smoking, obesity, diabetes, and alcohol abuse all play a part. Both genetics and lifestyle choices may contribute to a person’s risk.

Once a person is at high risk of experiencing a cardiac event or has already had one, such as a heart attack, their doctor may wish to treat them with some form of ongoing care. This is what is referred to as chronic cardiac care. And it is a big industry.

The drugs used to treat and prevent heart disease alone represent a $67 billion market. Many people know someone taking a statin like Pfizer Inc.’s PFE Lipitor or an angiotensin-converting enzyme (ACE) inhibitor like Merck & Co. Inc.’s MRCK Prinivil.

With advancements in technology have come new ways to better treat patients at risk. Much of this surrounds active and remote monitoring. Patients and their doctors can be alerted to warning signs by devices either surgically implanted or worn by the patient. By having this information in real-time, doctors can intervene in more timely and appropriate ways, saving people’s lives.

Biotricity Inc. BTCY is a medical technology company that creates products to serve this space. Its flagship product Bioflux is a wearable device that actively monitors ambulatory response. It states that it integrates into popular medical software systems used by doctors, and it has designed apps to integrate with the smartphones and smart devices most patients already own.

The equity research firm Maxim Group LLC states that the addressable market for Biotricity could top $1 billion. It points to the 2.2 million patients that the company has potential access to through the doctors it has sold to. According to Maxim, Biotricity could penetrate 10% of the market, representing revenue of $50 million.

One of the most important indicators, according to Maxim, is the growth and retention that Bioflux has shown. About 1,100 cardiologists used Bioflux with their patients in July, up from 450 at the beginning of the year. And the number of patient access topped 2.2 million, up from 190,000 in the same period.

Bioticity is looking to grow its reach within that market and, according to Maxim, this could mean good things for the company. If you’d like to know more about Biotricity, check out its website here.

The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.