- Global diabetes-related healthcare expenses are estimated at $966 billion in 2021
- A recent report reveals 537 million adults currently live with diabetes, projected to rise to 643 million by 2030 and 783 million by 2045
- Glucose intake is an important factor in diabetes management, prevention and reversal
- NMRD’s sugarBEAT(R) wearable is a non-invasive, flexible CGM device helping diabetes and prediabetes patients monitor glucose levels
- NMRD’s MiBoKo metabolic health program recently launched, provides AI-powered insights based on glucose readings
Diabetes is a primary driver of chronic disease costing the healthcare services sector more than $966 billion in 2021. Nemaura Medical (NASDAQ: NMRD), a medical technology company that develops affordable diagnostic and digital tools for chronic disease management, is positioned to address the problem with sugarBEAT(R), a wearable, non-invasive and flexible Continuous Glucose Monitor (“CGM”) that can help diabetes and prediabetes patients monitor glucose levels to manage, prevent, and possibly reverse the disease.
According to the International Diabetes Federation (“IDF”), diabetes is, “spiraling out of control.” The organization recently released a report detailing the disease’s progress, revealing that 537 million adults live with diabetes, a number projected to rise to 643 million by 2030 and 783 million by 2045. Besides affecting the health and wellbeing of patients, employers and insurers are burdened with diabetes-related expenses, currently estimated at over $966 billion – a 316% increase over the last 15 years.
Nemaura addresses this through its flagship sugarBEAT(R) wearable CGM device and companion mobile app that provides helpful disease management insights. Unlike other CGM devices, sugarBEAT(R) is non-invasive and doesn’t require insertion of the sensor inside the skin: Users can now choose the days they wear the patch instead of a prolonged continuous-wear period lasting up to 14 days. Combined with MiBoKo, the company’s recently launched metabolic health program, both products provide valuable AI-powered insights that NMRD management believes will benefit one-third to half of the diabetes market.
“A person’s response to sugar intake can influence many factors, from appetite and body weight, to sleep patterns, energy levels and even mood, not to mention also being a considerable factor in chronic diseases like diabetes, heart disease and dementia,” said NMRD CEO Dr. Faz Chowdhury.
“With MiBoKo, we can extend our proprietary non-invasive device and sensor technology and interactive lifestyle and AI coaching programs beyond the traditional diabetes market and into an adjacent, yet separate, market application of metabolic health. At Nemaura, we continue to look for the intersection of patient comfort and convenience through an advanced and unique technology that addresses significant healthcare needs for large patient populations. We believe that MiBoKo offers insights into metabolic health in a user-friendly way unlike any other program on the market.”
Founded in 2011, NMRD initially developed a single platform technology to measure blood markers at the skin’s surface. Since then, the company evolved its technology to address the global need for wearable glucose-monitoring devices, intersecting the diabetes, pre-diabetes, and weight loss markets. With several filed and pending patents, and significant trade secrets covering its technology platform, Nemaura is favorably positioned to lead the market with cost-effective, wearable, and non-invasive diabetes management devices.
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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