Heart Monitoring and Screening Device
CardioMap® heart monitoring and screening device, provides early, non-invasive testing of heart disease. With its highly portable design and web-based analysis, it can both penetrate the existing $28B cardiac device market and also expand the market vertical by opening up the possibilities for remote and home screening.
CardioMap depicts disease or stress levels, along with current heart conditions as a 3D image supplementing the line drawing electrocardiogram (ECG), but with device sensitivity that surpasses standard ECG analyzers by 7 to 50 times. It is highly portable and provides a rapid analysis in less than 60 seconds. The device is connected through the internet to the central server that converts the electric conductivity of the cardiac tissue into a three-dimensional, color-coded and easy to interpret visual portrait. The CardioMap® could be the only device approved for both arrhythmia and ischemia.
In addition, when FDA approved, the CardioMap will be the only device in the world that has a predictive value. All other methods presently used, including ECG, Stress Tests, EHO, etc. either define patients as ‘healthy’ (no pathology, no changes) or ‘sick’ (there is a pathology and/or organic changes). The CardioMap could be the only device that has the ability to show the ‘grey’ areas where deterioration has begun but not lead to pathology yet. This is a phenomenal incentive for doctors to use the CardioMap device.
The CardioMap Opportunity
Cardiovascular disease (CVD), like stroke and heart disease, is the leading cause of death across the world. The World Health Organization (WHO) estimates that 30% of the deaths caused globally are due to heart disease. The majority of cardiovascular diseases could be managed by early detection of abnormalities in the functioning heart. Continuous cardiac monitoring devices are used for observation of cardiac activity and is mandatory to assess a patient’s condition suffering from CVD. Cardiac monitoring devices record and display pressure and electrical waveforms of the cardiovascular system for the measurement and treatment of heart disease.
The global cardiac monitoring market is projected to reach $28 billion (USD) by 2021. This represents an increase of $5.8 billion from USD 22.2 billion in 2016 which equates to a CAGR of 4.8%.
A growing challenge in Cardiology is to diagnose early heart injury in asymptomatic patients. No device can do it currently. Once FDA approved, CardioMap will be the first and only device capable of mass screening for early detection. In recent years, there has been a continuing shift from traditional heart monitoring devices to more technologically advanced point-of-care monitoring devices that can be performed in a matter of minutes. Unlike the centralized monitoring segment, which is mature and highly competitive, the point-of-care market is still a relatively early stage market. Although certain simple single lead heart monitoring devices have been developed, such devices have remained incapable of precise and highly sensitive and specific measurements.
Odyssey Group International, Inc. believes that there is significant market potential for advanced point-of-care heart monitoring products that provide quick and accurate diagnosis during a patient visit, shortening the decision time to medical intervention and minimizing the need for additional patient follow-up, thereby reducing overall health care delivery costs.