BioSig's Vision is to further develop the signal processing technology and clinical effectiveness in PURE EP, and extend into the growing field of Bioelectric Medicine
Bioelectric Medical Revolution: The Internet of the Body
Bioelectric medicine is an emerging medical practice that uses miniature implantable devices to modify electrical signals to the body's nervous system. This scientific breakthrough has the potential to become a paradigm-shifting market disrupter in the healthcare marketplace.
For generations, physicians and scientists alike have been intrigued by leveraging the power of electrical impulses in the human body for therapeutic benefits. Throughout the last several decades, the practice has undergone significant growth and technological advancements.
Launched in 1980, Implantable Cardioverter Defibrillators (ICDs) became useful in preventing sudden death in patients with known, sustained ventricular tachycardia or fibrillation. Studies have shown ICDs to have a role in preventing cardiac arrest in high-risk patients who haven't had, but are at risk for, life-threatening ventricular arrhythmias. The market will grow from $2 billion 2015 to $2.5 billion in 2020.
First utilized in 1958, the pacemaker was a medical marvel. Today, the global pacemaker market size was valued at $4.9 billion in 2015 and is expected to grow at a CAGR of 9.2% over the forecast period. In 2025, the market is projected at $12.3 billion.
According to a market research study from Neurotech Reports, the worldwide neuromodulation device industry is expected to grow from approximately $6 billion in 2014 to more than $10 billion in 2018, with the market for implanted spinal stimulators for treatment of chronic pain alone valued at $1.8 billion worldwide in 2014, and growing to $2.88 billion in 2018. Industry observers predict a double-digit compound annual industry growth rate overall.
The size and scope of this market can be easily recognized when we understand the magnitude of the potential treatment population. Afflictions such as epilepsy, migraines, spinal cord injuries, Parkinson's disease and urinary incontinence affect more than 40 million people in the United States alone.
The National Institutes of Health announced that it had awarded nearly $31 million in fiscal year 2014 to develop new approaches to engage researchers. The group's goal is to conduct research that leads to new ways to treat cardiovascular disease by targeting nerves in the heart's nervous system.
Researchers believe that modulating cardiac electrical signals holds promise as a way to treat heart failure and other common cardiovascular problems.
BioSig sees three categories of opportunity in this space: signal capabilities, therapeutic tools, and procedures.