- An aging Western population and the prevalence of chronic diseases are expected to contribute to the massive growth of the wearable medical devices market in the years to come
- Companies like Endonovo Therapeutics are primed to benefit from the growth opportunities due to innovative developments that are currently in the clinical stages
- Endonovo’s wearable medical device can be used to address an array of medical conditions; it promotes faster post-surgery and wound healing and can also effectively manage inflammatory processes in the body
The global wearable medical devices market is anticipated to grow to $66.8 billion by 2026, a Grandview Research report published in April 2019 suggests (http://ibn.fm/AzXnV). The market is forecast to expand at a CAGR of 26.1 percent over the period, with several factors contributing to the growth.
Increased health awareness and a better understanding of the need for constant monitoring will both help the market expand. In addition, the Western world’s population is aging, and the prevalence of chronic medical conditions is increasing. Wearable devices can be used to monitor various important health parameters, to prompt a more active lifestyle and even to address an array of treatable conditions.
In response, three main types of medical devices are expected to emerge and dominate the market – pain management, respiratory therapy and glucose monitoring devices, according to Allied Market Research (http://ibn.fm/VvEOV).
Based on these forecasts, companies like Endonovo Therapeutics Inc. (OTCQB: ENDV) are anticipated to leverage new opportunities to strengthen their market positions. Endonovo Therapeutics develops, manufactures and distributes wearable medical devices for pain management and the control of inflammatory processes. The wearable medical devices are non-invasive and designed to deliver the company’s proprietary Electroceutical therapy, which targets cardiovascular diseases, central nervous system disorders, kidney diseases and inflammatory conditions.
The SofPulse device by Endonovo is designed to deliver pulsed electromagnetic frequencies – a therapeutic approach that’s especially beneficial for the promotion of recovery in the aftermath of surgical procedures.
Endonovo’s wearable medical device can be used as a standalone therapy or as a part of a treatment protocol. The pulsed electromagnetic therapy aids in the reduction of swelling, and it also speeds up natural recovery processes. Since SofPulse reduces the pain and inflammation related to recovery from surgeries or trauma, the need for using prescription medications and other pain control options is diminished.
Studies carried out to date to test the effectiveness of the wearable medical device demonstrate its ability to reduce narcotics use in the first 48 hours after surgery by 2.2 times. Patients who are not in great pain and who don’t need to take prescription pain management pharmaceuticals could start moving around sooner, which has been shown to promote faster recovery through natural healing processes.
Endonovo received U.S. FDA clearance for the palliative treatment of pain and post-surgical swelling with SofPulse. In Europe, the medical device is CE-marked for the promotion of wound healing and the palliative treatment of pain and post-surgical swelling.
Endonovo’s current portfolio of wearable medical products addresses conditions like liver disease, chronic kidney disease, cardiovascular and peripheral artery disease and ischemic stroke.
For more information, visit the company’s website at www.Endonovo.com
NOTE TO INVESTORS: The latest news and updates relating to ENDV are available in the company’s newsroom at http://ibn.fm/ENDV
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