As per data projection of World Population Review, the median age of humanity is 31.0 in 2020. This is a notable increase from 70 years ago, when the median age of humanity was just 23.6 years. This data indicates that increasing access to health facilities is allowing humanity to live longer lives.
However, this poses challenges of its own, like lifestyle and age-related diseases. In both these cases, cardiovascular diseases are the leading cause of worry for the world population. As per WHO, cardiovascular diseases lead to the deaths of around 17.9 million people annually.
Due to the diagnostic difficulty it presents and the persistent belief that cardiovascular disease (CVD) mostly affects males, women’s CVD continues to go undiagnosed and untreated. Although gender-related risk variables have already been identified, there is a dearth of clinical applicability, which causes women with CVD to be misdiagnosed and poorly managed. To optimize care and significantly reduce morbidity and mortality in this patient population, it is essential to address gender-specific symptomatology and risk factors.
This is a worrying trend and needs urgent input from deep tech and AI to present concrete solutions.
These challenges present a unique opportunity for budding and existing MedTech AI entrepreneurs. Out of the five recognized main disciplines of deep tech; Biotech and MedTech are filling the innovation vacuum left by the underperforming traditional health sector.
As per Philips CEO Frans van Houten, “Preexisting data collection of medical data is already more than enough to be leveraged by AI for developing technology solutions for cardiovascular diseases in people. The only thing required is to start acting upon it and not sit on the data that can be of great use to in deep tech research.”
Presenting deep tech and AI products as a disruptor in a negative sense does not do the proper justice to the helpful role these solutions can potentially play in aiding physicians in monitoring health indicators and prescribing preliminary diagnostics. Disruptor in most cases is a value addition for better results.
Companies like 24Sens are doing a great job in doing this. They developed a unique sensor system and software based on artificial intelligence in 2020. They are aiming to present their shoulder strap technology for cardiovascular health monitoring of the people. The focus is to detect CVD in females more accurately.
In contrast to the other ECG devices, 24Sens’s owner says that their wearable guarantees higher quality data recording and documentation coupled with a high level of wearing comfort.
The MedTech startup scene in Europe is a booming sector. Rajat Khare founder of Boundary Holding, based in Luxembourg, has been constantly investing in various MedTech companies across Europe. The innovative solution provided by 24Sens has got the attention of the entrepreneur. Gunter Grabher has appreciated this a lot and now the plan is to invest more than 4.5 million Euros into their joint venture.
We need more such innovators who are dynamic and understand the pain point not only at an industry level or sector but also at the micro level such as gender, age, demography, and other ignored factors.