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Biotech Brief: Most Recent Technological Advancements Pushing U.S. Medical Device Market to New Levels
PALM BEACH, Florida, May 14, 2019 /PRNewswire/ -- The U.S. is a global leader in technology. The U.S. is also historically where innovation is always at the forefront… so it is no surprise that the U.S. Medical Device market… a marriage of technology and innovation… is making the U.S. the global leader in medical devices. Typically, the purpose of a medical device is not achieved by pharmacological, immunological, or metabolic means… it is a technological solution. The medical device industry relies on several industries where the United States holds a competitive advantage, including microelectronics, telecommunications, instrumentation, biotechnology, and software development. Collaborations have led to recent advances… innovation fuels the medical device sector… (which) should continue growing at a positive rate in the future. Industry publications report that: "Compared to several other industries including automotive, defense, and telecommunications, the medical device industry invests a higher percentage of yearly revenues into product innovation, reflecting the competitive nature of the industry and constant innovation and improvement of existing technologies.
A recent FORBES article says this about the size of the medical device market and the importance of innovators: "A disruptive market of $410 billion until 2023, changes dramatically with the entrance of small and medium size players, many of them rising up from the startup community." And the demand is also projected to rise according to a report from Grand View Research: "Rising prevalence of chronic diseases and increasing geriatric population in the country are among principal market drivers. According to the U.S. Census Bureau, 49 million or 15.0% of the population in the country belonged to the geriatric category in 2015. The bureau estimates that by 2023, geriatric population will account for 23.0% of the total U.S. population. The onset of chronic diseases is more commonly prevalent between the ages of 45 and 54. Thus, increase in geriatric population is primarily driving demand for medical device solutions globally."
Soliton, Inc. (NASDAQ: SOLY) BREAKING NEWS: Soliton technology is looking to cash in on the rise of the cellulite removal market, which is set to be worth $1.4 billion dollars by 2026. Yahoo Finance talks to Wally Klemp, the Executive Chairman of Soliton, about the company's new acoustic shockwave technology that reduces cellulite.
SEE THE INFORMING INTERVIEW ON TD AMERITRADE NOW: https://tdameritradenetwork.com/video/rB4AoWqwHM-BarJmMhcBEA
Soliton, a medical device company with a novel and proprietary platform technology licensed from The University of Texas on behalf of the MD Anderson Cancer Center ("MD Anderson"), today announced that the Japanese Patent Office has issued a notice of grant of patent Number 6503302, "Rapid Electrohydraulic Shockwave Generator".
Clinical trials for tattoo removals have demonstrated that using the Company's RAP device, in conjunction with a Q-Switched laser, allows for multiple passes of laser treatment in a single treatment session. The current standard of care for tattoo removal is to use a Q-Switched laser to ablate the tattoo ink particles into pieces small enough for the body's natural processes to remove them. Independent studies have shown this standard treatment requires on average ten or more office visits to achieve acceptable results. In our own clinical trial using the RAP device in conjunction with a Q-Switched laser, patients experienced 75% to 100% removal of their tattoos in just three office visits.
Dr. Chris Capelli, President, CEO and Co-Founder of Soliton, said, "Our corporate patent portfolio continues to expand globally as a component of our overall intellectual property assets. This portfolio is essential to support the Company commercialization strategy which focuses both on domestic U.S. channels as well as aesthetic channels in a variety of international markets." Dr. Capelli continued, "Additionally, clinical trials are under way to determine if our device may be effective at removing cellulite or accelerating current fat removal technologies." Read this and more news for SOLY at: https://www.financialnewsmedia.com/news-soly/
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