- The blood glucose monitoring system sector is expected to grow to a value of $27.2 billion by 2026, expanding at a CAGR of 9.6% between 2021-2026
- Over 420 million people around the globe currently have diabetes, with the American Diabetes Association recommending that all adults screen for the condition every three years
- Nemaura Medical has sought to capitalize on the blood glucose monitoring sector’s phenomenal growth rate through the launch of its proprietary body worn continuous glucose sensor in both the diabetes sector and consumer healthcare sector.
- The company’s flagship sugarBEAT(R) device provides diabetic and pre-diabetic patients with the ability to track their glucose levels without the use of needles or puncturing the skin – a concept previously thought to be highly implausible
The American Diabetes Association (“ADA”) recently published their recommendations for the Standards of Medical Care in Diabetes, advocating for all adults aged 18 years and older who were overweight, obese, or suffering from other diabetes and pre-diabetes risk factors to get screened. Moreover, the ADA also suggests that all adults be screened for diabetes beginning at age 35 years, with healthy patients repeating screenings at three-year intervals. As such, it comes as no surprise that a recent report delving into the blood glucose monitoring system market has forecast the sector to expand to an annual value of $27.2 billion by 2026, with a CAGR of 9.6% between 2021-2026 (https://ibn.fm/4V317).
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 capitalize on the burgeoning growth within the sector through the release of its two flagship constant glucose monitoring (“CGM”) products, the sugarBEAT(R) and MiBoKo application.
Over 420 million people globally are currently living with diabetes, with pre-diabetic cases totalling almost three times that number. Meanwhile, and in the US alone, over $760 billion was spent on diabetes-related health care expenditures during 2019, equating to an average annual spend upwards of $9,000 per diabetic patient compared to approximately $1,600 for a healthy individual (https://ibn.fm/R6B1G). A rise in the global diabetic population has led to an exponential increase in the use of constant glucose monitoring devices, a critical technological innovation providing both diabetic and pre-diabetic individuals with early detection of hypo and hyperglycaemic conditions.
Nemaura Medical has long made it its corporate mission to develop non-invasive wearable diagnostic devices designed to help diabetic and near-diabetic patients monitor blood glucose levels by measuring blood makers at the surface of the skin. Its revolutionary sugarBEAT(R) CGM device provides users with non-invasive glucose monitoring; as described by the company, it works by “drawing a small number 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/O2GXl).
The company has followed up on the successful pre-launch campaign of its sugarBEAT(R) technology in the UK by its UK licensee, which has already garnered orders for 200,000 sensors in the United Kingdom, with the release of the MiBoKo application. The MiBoKo application, a service offering that has been in development over the past 18 months, and uses a non-invasive glucose sensor to determine users’ Metabolic Score, which is based on glucose tolerance or insulin resistance. The device is linked to an AI mobile application, which seeks to provide users with personalized information by tracking their metabolism. Users will be able to find out how well their body responds to sugar through their metabolic health score — and how what they eat and what they do every day uniquely affects their metabolic health.
With constant glucose monitoring devices rapidly gaining proponents amongst endocrinologists and the public alike, Nemaura Medical has set out to produce what was hitherto thought to be implausible – a revolutionary product through which patients can monitor their sugar levels which do not require any needles or necessitate the individual to puncture their skin at all.
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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