- BEAT continues impressive march forward in developing a suite of products designed to detect heart attacks anytime, anywhere
- Inventions protected by patent enable proprietary 3D vector ECG technology to be built into a smartwatch
- Projections for global smartwatch and wearables medical-device markets show consistent upward growth
In a world where an estimated 202.6 million people use smartwatches (https://ibn.fm/zb66P), the ability to harness the power of smartwatches to help people live healthier lives can make a profound difference. That’s exactly what HeartBeam (NASDAQ: BEAT), a cardiac technology company with a track record for innovation and cutting-edge technology, hopes to do with its newest patent.
The company announced on November 16, 2022, that it was granted a patent for its 12-lead electrocardiogram (“ECG”) smartwatch-based monitor design to identify heart attacks and complex cardiac arrhythmias (https://ibn.fm/DFeQC).
“The breakthrough inventions protected by this patent enable our proprietary 3D ECG technology to be built into a smartwatch, eliminating the need for a dedicated ECG device while offering a 12-lead ECG capability enabling heart attack and complex arrhythmia detection,” said HeartBeam CEO and founder Branislav Vajdic, PhD. “This patent may prove to be one of the most valuable patents in our rich and growing patent portfolio and, together with our 12-lead ECG patch patent, I believe, will have a disruptive effect on these existing multibillion-dollar fast-growing markets.”
Projections for the global smartwatch market for the next several years show consistent upward growth, boding well for HeartBeam. “Data Bridge Market Research analyses that the smartwatch market was valued at $33,081.86 million in 2022 and is expected to reach $64,480.18 million by 2030, registering a CAGR of 8.70% during the forecast period of 2023 to 2030,” reported a recent PR Newswire press release (https://ibn.fm/cWWmX).
In addition, HeartBeam pointed out that the global wearables medical-device market is also expected to see billion-dollar growth, estimated to reach $196 billion by 2030. This space “encompasses a wide variety of capabilities, including diagnostic monitoring such as heart rate and some cardiac arrhythmias, blood pressure, glucose, respiratory, and sleep activity, among others,” the company stated. “Currently available wearables are not capable of providing a 12-lead ECG for heart attack detection, complex arrhythmia monitoring or other cardiac disorders. With cutting-edge, 12-lead ECG based on 3D vector ECG technology built into a smartwatch, HeartBeam’s latest patent further expands on the company’s anytime, anywhere capabilities.”
HeartBeam has developed the first and only 3D-vector ECG platform for heart attack detection anytime, anywhere. By applying a suite of proprietary algorithms to simplify vector electrocardiography, the HeartBeam platform enables patients and their clinicians to determine if symptoms are due to a heart attack, quickly and easily, so care can be expedited, if required.
HeartBeam has two patented products in development: HeartBeam AIMI(TM), software for acute care settings that provides a 3D comparison of baseline and symptomatic 12-lead ECGs to identify a heart attack more accurately, and HeartBeam AIMIGo(TM), the only credit-card-sized, 12-lead output ECG device coupled with a smartphone app and cloud-based diagnostic software system to facilitate remote heart attack detection.
The company noted that, while it is currently focused on the development of these two systems, it is also committed to continue advancing the full potential of cutting-edge, 12-lead 3D vector ECG technology. That commitment is demonstrated by recently issued and allowed patents that appear to have the potential for significant market impacts, including this 12-lead, ECG, smartwatch-based monitor design. HeartBeam AIMI and HeartBeam AIMIGo have not yet been cleared by the US Food and Drug Administration for marketing in the USA or other geographies.
For more information, visit the company’s website at www.HeartBeam.com.
NOTE TO INVESTORS: The latest news and updates relating to BEAT are available in the company’s newsroom at https://ibn.fm/BEAT
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