2021 May Bring New Potential for Emerging Trends in Healthcare
While companies like Moderna, Pfizer, and Johnson & Johnson compete for position with vaccines, there could be an opportunity for “pick and shovel” companies. This pandemic may subside but that does not negate the fact that its lasting impact could be felt for years.
Beyond Medical Technologies Inc. (CSE: DOCT) In Focus
When you hear about “pick and shovel” companies, the focus is on the “supporting cast” for an industry. Coined during the early North American gold rush, those selling the picks and shovels made far more money than those using these tools to find gold. While only a few struck gold, the picks and shovels sold created considerable wealth during that era.
Beyond Medical Technologies Inc. (CSE: DOCT) has stated that they have extensive manufacturing capabilities. While its initial model aims to develop waste digesters, the company has viewed the pandemic as having created a new opportunity to leverage its capabilities. (CSE: DOCT) looks to produce critical Personal Protective Equipment via its Micron Technologies business. The company manufactures and distributes medical-grade face masks compliant with ASTM F2100 Standards.
The company has also begun manufacturing Made in Canada N95 Model 8800 masks as well. According to company CEO, Kal Malhi, Beyond’s N95 masks are currently approved under its Health Canada and FDA registrations. The N95 masks are undergoing testing and awaiting medical-grade certification from the National Institute for Occupational Safety and Health as well.
Approved For Sale By Walmart
Beyond Medical Technologies Inc. wholly-owned subsidiary Micron Technologies’ three-ply medical grade face masks and N95 medical grade face masks have been approved for sale by Walmart. Micron Technologies has completed the onboarding process and its products will be available at www.walmart.com by the beginning of April 2021.
The availability of our product with one of the largest retailers in the world will bring significant exposure to our made-in-Canada medical face mask brand.
Kal Malhi, CEO of Beyond Medical
Walmart is the latest addition to the company’s retail footprint. Micron Technologies’ products are also available on Amazon and Shopify.
The Potential of Kayan Health?
In early 2021, the company entered into a letter of intent to acquire Kayan Health. The importance here is that this acquisition would allow Beyond to tap into Kayan’s Virtual Medical’ Second Opinion’ platform in addition to the full suite of digital health products.
The Second Opinion Platform will be a peer-to-peer service that will match clinicians in the Caribbean with clinicians in the United States to review patient medical records. Aimed initially at the medical tourism industry, the second-opinion platform seeks to offer specialties focused on pulmonary medicine, acute critical care or emergency intensive care, and mental health.
Additionally, Kayan Health’s proprietary platform allows patients to schedule virtual consultations with their physicians and communicate with them through chat, audio, and video calls.
The Future of Digital Medicine
The platform can guide them to the right specialist, monitor them, and even notify the doctor when something is out of the ordinary. It can also call 911 if necessary and streamline communication between the patient and the doctor through chat, voice, and video calls.
There’s one thing to consider a virtual visit as “digital medicine.” However, the Kayan system’s ability to continue tracking patients and utilizing AI for calling 911 or notifying doctors of unusual activity is another layer of care. The platform even integrates with wearable devices and diagnostic tools to streamline live vital data to a private and secure patient health profile. Considering that the trend in virtual healthcare has only just begun to captivate market interest, this pending acquisition’s timing could be significant.
According to data from Grand View Research*, the global digital health market size was valued at USD 96.5 billion in 2020 and is expected to grow at a compound annual growth rate of 15.1% from 2021 to 2028. Also, a growing trend of preventive healthcare coupled with rising funding for various mHealth startups is further propelling the market growth. What’s more, Grand View highlighted that the current pandemic has “significantly increased the demand for digital health among consumers as well as physicians and practitioners.”
This has offered new opportunities, considering social distancing, as the only existing solution to minimize exposure. Healthcare practitioners continue using telemedicine owing to the restrictions imposed on account of the pandemic. In light of this, digital health could be a big point of focus for the market and companies alike.
Pursuant to an agreement between Midam Ventures LLC and Micron Waste Technologies Inc. (MWM) now Beyond Medical Technologies Inc. (CSE: DOCT), Midam is being paid $350,000 for a period from April 16, 2020, to October 2, 2020 & now extended to April 5, 2021 for no additional compensation. We may buy or sell additional shares of Micron Waste Technologies Inc. (MWM) now Beyond Medical Technologies Inc. (CSE: DOCT) in the open market at any time, including before, during or after the Website and Information, to provide public dissemination of favorable Information about Micron Waste Technologies Inc. (MWM) now Beyond Medical Technologies Inc. (CSE: DOCT).
Click Here For Full Disclaimer
https://www.grandviewresearch.com/industry-analysis/digital-health-market
