- Over 420 million people around the globe currently have diabetes, with the figure set to rise by 55% over the next 25 years
- Millions of patients required to measure their blood glucose levels daily to accurately determine their insulin dosage amounts
- Nemaura Medical has launched two constant glucose monitoring solutions – the SugarBEAT(R) device as well as the MiBoKo application, which seek to provide users with a convenient, low-cost non-invasive CGM solution
Diabetes affects 34 million people in the United States and upwards of 400 million people globally, with the number of affected individuals expected to rise by approximately 55 percent within the next 25 years (https://ibn.fm/xuZVf). For many individuals, mealtimes have long proved to be an arduous process. Before eating, diabetic patients must often inject themselves with insulin in a time-consuming process that combines estimations of the meal’s carbohydrate content with blood drawing to calculate the proper amount of insulin for the recipient. As such, the advent of non-invasive constant glucose monitoring (“CGM”) has been a largely welcome one for the industry, with the blood glucose monitoring market forecast to expand to an annual value of $27.2 billion by 2026, with a CAGR of 9.6% between 2021-2026 (https://ibn.fm/5jv2C).
“Every day, many patients need to do this complicated procedure at least three times,” stated Hen-Wei Huang, an MIT post-doctorate student carrying out research into the blood glucose monitoring sector. “The main goal of this [research] is to try to facilitate all of these complex procedures and also to eliminate the requirement for multiple devices.”
Over the past few decades, endocrinologists have increasingly sought to develop an economical, compact, painless, and convenient non-invasive device that could alleviate the pain associated with frequent skin pricking while simultaneously promoting routine glucose testing in a bid to control blood glucose levels more effectively. Nemaura Medical (NASDAQ: NMRD), a medical technology company focused on developing and commercializing non-invasive wearable diagnostic devices and supporting personalized lifestyle coaching programs, has sought to fulfill this ideal through the provision of its two flagship constant glucose monitoring (“CGM”) products, the sugarBEAT(R) and MiBoKo application, respectively.
The company’s revolutionary SugarBEAT(R) CGM device seeks to provide users with non-invasive glucose monitoring; as described by the company, it works by drawing a small amount of selected molecules, such as glucose, into a patch placed on the skin. These molecules are drawn out of the interstitial fluid which naturally sits just below the top layer of skin” (https://ibn.fm/KI00a). The device has already met with early success, with Nemaura Medical revealing projections for orders of 2 million sensors and 15,000 CGM devices from the United Kingdom alone over the next two years, with the aim of targeting the over 4.9 million diabetics in the UK currently as well as the 13.6 million people at increased risk of contracting Type 2 diabetes (https://ibn.fm/5glbl).
The company’s MiBoKo application has sought to provide users with a unique and accurate solution to track their metabolic health. Users are asked to wear a small, imperceptible sensor on their upper arm for as little as two days each month. Then, individuals are provided with both real-time insights and weekly reports explaining their body’s unique metabolic health score while giving a breakdown of how each of their habits impacts their overall health and wellbeing, and how to improve it.
A recent report delving into the diabetes care devices market has forecast the overall market to reach an annual value of $31.9 billion by 2028, with diabetes monitoring devices estimated to account for the largest share of the pie (https://ibn.fm/mRpRG). A meteoric increase in diabetes risk factors such as rising obesity levels, increasingly sedentary lifestyles coupled with a rapidly aging global population has led to a growing need for individuals to self-monitor their health to treat or prevent the onset of diabetes. By developing their unique, non-invasive CGM solutions, Nemaura Medical has sought to position themselves to capitalize from the expansion in one of medicine’s fastest-growing areas.
For more information, visit the company’s website at www.NemauraMedical.com. For more information on Miboko, visit www.Miboko.com.
NOTE TO INVESTORS: The latest news and updates relating to NMRD are available in the company’s newsroom at https://ibn.fm/NMRD
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