REDWOOD CITY, CA - Biotricity Inc. (NASDAQ:BTCY), a medical diagnostic and consumer healthcare technology company, has received Health Canada approval to enter the Canadian Cardiology Devices market, valued at US$1.56 billion. This regulatory milestone allows Biotricity to offer its flagship product, Biotres, to the Canadian market, where cardiovascular disease accounts for a significant portion of healthcare costs.
Cardiovascular disease is a major health issue in Canada, affecting about 8.3% of adults and leading to numerous hospitalizations. Biotricity's Biotres device is designed to address the needs of over 2.4 million Canadians living with heart disease and related conditions. The approval of Biotres aligns with the company's mission to provide innovative diagnostic solutions that empower individuals to manage their health proactively.
Dr. Waqaas Al-Siddiq, Biotricity Founder and CEO, expressed enthusiasm about the opportunity to contribute to the health and well-being of Canadians. Biotricity aims to leverage the growing wearable technology market, which is expected to see a significant increase in the healthcare sector.
The company positions itself at the forefront of the digital treatment and care market in Canada, which is anticipated to grow annually. Biotricity's commitment to innovation is reflected in its development of cardiac monitoring devices and a remote monitoring platform that provides precision and personalized healthcare measures.
Biotricity's entry into the Canadian market is based on the press release statement and represents a strategic move to address a significant health concern while expanding its market reach. The company's focus on cardiovascular health and remote monitoring solutions aligns with the increasing demand for accessible healthcare technologies.
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