The Growing Potential of Non-Invasive MedTech Wearables
When you think of cutting-edge technology aimed at improving brain health, devices worn on the outside of the body probably aren’t the first thing that comes to mind.
However, wearable technology in the medtech space is making significant strides and has the potential to change the way we treat a variety of conditions. Although it's still under the radar compared to invasive methods like brain implants, non-invasive tech is beginning to capture investor attention and, more importantly, show real promise for treating neurological conditions.
A company like Elon Musk’s Neuralink, which is focused on brain implants, is perhaps the best-known example of invasive neurotech.
This kind of technology, aimed at directly linking the brain to computers or treating neurodegenerative diseases, requires heavy funding and lengthy development times due to the inherent risks of embedding technology into the brain.
In contrast, non-invasive technology, which stimulates the brain externally, is not only safer but far less expensive to develop. As Kerry Baldwin, co-founder of IQ Capital, points out, this makes non-invasive neurotech a great place for investment. Companies working on wearable tech, like Belfast-based startup Neurovalens, are leading the charge in developing devices that offer the possibility of treating various conditions without the need for risky surgery.
Wearable Brain-Stimulating Tech
Founded in 2013, Neurovalens is one of the pioneers in this field, having raised $30.4 million so far to fund the development of their therapeutic wearables. These devices use electrical stimulation to target specific areas of the brain to treat conditions like anxiety, chronic insomnia, PTSD, and even metabolic issues like Type II diabetes and obesity.
Unlike pharmaceuticals, which can cost billions to develop and come with a range of side effects, these wearable devices offer a potentially cost-effective and non-invasive solution. Two of Neurovalens’ devices have already received FDA approval—one for treating chronic insomnia and another for generalized anxiety disorder (GAD).
By focusing on wearable technology that stimulates the brain externally, Neurovalens is targeting a broad array of conditions. Their approach is a prime example of how non-invasive neurotech could transform healthcare.
A Safer, More Scalable Solution
The benefits of non-invasive wearable technology go beyond safety. Because these devices don’t require surgery, they can be used earlier in a patient's treatment plan. This opens the door to wider adoption. For example, treatments like antidepressants or anti-anxiety medications might be a first resort, but a wearable device could be an appealing alternative—especially for those who either can’t tolerate medication or aren’t seeing results from it.
Wearables like Neurovalens’ Modius devices offer a safe, cost-efficient, and potentially effective treatment that may soon be prescribed alongside more traditional therapies. The technology doesn’t just stop at mental health, either. Devices in development aim to help manage chronic diseases such as Type II diabetes and obesity, which are on the rise globally.
Why Investors Are Excited About Non-Invasive Neurotech
The market for brain-targeting technologies, including both invasive and non-invasive methods, is currently valued at around $13-14 billion. However, forecasts predict this will skyrocket to $40 billion by 2030. As Baldwin notes, the opportunities for growth in non-invasive neurotech are massive, with the added benefit that the financial risk is much lower than in invasive technologies.
For investors, non-invasive neurotech presents an attractive balance between risk and reward. Development costs are lower than drug discovery, and companies like Neurovalens are already proving that this technology can work. With FDA approvals in place and additional devices in the pipeline, wearables might become an essential part of treating chronic and acute conditions.
The Future of Wearable MedTech
While the journey from lab research to patient treatment is never straightforward, the potential for non-invasive wearables is clear. They could soon offer treatments for conditions that are currently underserved by pharmaceuticals or other medical interventions. For example, PTSD, which doesn’t respond well to drug treatments, might find its first effective solution through these wearables.
Neurovalens is a strong contender in this emerging market, showing that wearable medtech could be a vital tool in the future of healthcare. As their devices undergo further clinical trials and gain more regulatory approvals, the hope is that these technologies will become widely accessible, offering a scalable solution to some of the most pressing health issues today.
Non-invasive neurotech is still in its early stages, but it’s on a path to becoming a significant player in the medtech field. With more companies working on these technologies, we may soon see a future where brain health and chronic conditions are managed with simple, effective wearables.
*Disclaimer: Not Financial Advice. Investors should conduct thorough research and seek professional advice before making any investment decisions.