In his presentation at the COMSWORLD2020 virtual event, Janusz Bryzek of Exo, described many details to support his premise of the exponential acceleration of healthcare problems. According to Bryzek, the convergence of exponential technologies or ExTech is accelerating the availability of healthcare to all.
Exponential technologies include different types of health sensors, big data, telehealth, energy harvesting, artificial intelligence and more. With over 75 billion internet of things (IoT) connected devices expected by 2025 and as many as 500 billion by 2030, he has identified healthcare as one of the leading drivers with sensor arrays as a major factor.
Well-known as an entrepreneur for sensor start-ups, Bryzek has leveraged the interest in global healthcare in his most recent venture, Exo. The company is using piezoelectric micromachined ultrasonic transducer (pMUT) technology and artificial intelligence (AI) to develop a handheld ultrasound device set. The company chose ultrasound for its imaging technology because it was nonionizing and avoided the radiation issues associated with x-rays. According to Klein Biomedical Consultants, the worldwide point of care ultrasound market is expected to reach $1.5 billion in 2024, growing at compound annual growth rate (CAGR) of 9.5%.
Unfortunately, current pricing of $100,000 to $200,000 for an ultrasound machine prohibits widespread availability in poorer regions. Taking advantage of exponential technologies, the goal of Exo is to produce a handheld device/platform with the same quality of the expensive machines at a fraction of the cost. Progress appears to be good, since Exo expects to be in the market in 2021 with a product.