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PALM BEACH, Fla., Oct. 25, 2023 /PRNewswire/ -- Recently, as the assorted global diabetes markets, such as drugs, devices and therapy continue to see an increased revenue yearly, so has the Diabetes Care Market. Factors such as increasing diabetic population, rising awareness regarding benefits of diabetes treatment and management, and favorable national health plans are driving global diabetic care market revenue growth. In addition, factors such as technological improvements in medical devices and increase in prevalence of obesity are driving revenue growth of the market. Furthermore, rising prevalence of diabetes and increasing adoption of insulin delivery devices are expected to continue to drive market revenue growth during forecast period. A report from Emergen Research projected that the Global Diabetes Care Market size is expected to reach USD 41.71 Billion By 2027 and register a revenue CAGR of 8.3% through 2028. The report said: "According to the U.S. Department of Health and Human Services, Centers for Disease Control and Prevention, in 2020, approximately 34.2 million people had diabetes, i.e. 10.5% of the U.S. population, and 1.5 million new cases of diabetes or 6.9 per 1,000 persons, were diagnosed. With such high prevalence, the need for care devices that help monitor and control blood glucose levels continues to increase exponentially. This is one of the leading factors that is boosting growth of the Global Diabetes Care Market. Factors such as increasing government initiatives to drive awareness about dietetic care, rising number of patients requiring a daily dose of insulin, and increasing funds by government and private sectors are fueling market growth. Availability of reimbursement policies and insurance will also boost growth of the diabetes care devices market going ahead." Active Biotech Companies active today in markets include: Thrive Precision Health (OTCPK: CNER), Novo Nordisk A/S (NYSE: NVO), Tandem Diabetes Care, Inc. (NASDAQ: TNDM), DexCom, Inc. (NASDAQ: DXCM), Lexicon Pharmaceuticals, Inc. (NASDAQ: LXRX).
Emergen Research continued: "Hospitals & clinics segment revenue is expected to expand at a rapid CAGR in the Global Diabetes Care Market during the forecast period (2028)… The Global Diabetes Care Market is segmented into hospitals & clinics, home care settings, and diagnostic centers. The hospitals & clinics segment dominated other end-use segments and accounted for largest revenue share in (recent years). An increasing number of hospital admissions of diabetes patients is boosting growth of this segment. Diabetes Care Market in North America is expected to account for larger revenue share than other regional markets (through (2028). Market growth in this region is expected to be driven by high prevalence of diabetes in countries in the region. Diabetes is at an all-time high in wealthy countries such as the U.S. and Canada, owing primarily to lifestyle changes. Diabetes is linked to a slew of health issues. Diabetes has become an epidemic in the U.S., according to the US Centers for Condition Control and Prevention (CDC), with over 30 million Americans diagnosed with the disease."
Thrive Precision Health (OTCPK: CNER): CHINA NEW ENERGY GROUP COMPANY/THRIVE PRECISION HEALTH ANNOUNCES BINDING AGREEMENT TO ACQUIRE TWO DIABETES CLINICS IN ARIZONA - Thrive Focus: Personalized Medicine - Institutionalizing Diabetes Care for Better Patient Outcomes- Thrive Precision Health ("THRV") (formerly Thrive Global Biosafety and China New Energy Group Company (with subsidiary Thrive Testing and Biosafety Inc., "CNER" or "Company") is pleased to announce it has entered into a binding letter of intent to acquire two diabetes clinics on Arizona.
"Our strategy to bring advanced technology to diabetes care has taken its first step in the pending acquisition of True Diabetes Neuropathy and Wounds Solutions AZ, LLC.", stated Guy Zajonc, CEO and Chairman of Thrive Precision Health." " To us, the words Precision Health and Personalized Medicine mean better outcomes by tailoring our approach and offering individualized treatment to every patient using proven science. We will continue to acquire or start new specialized diabetes clinics in Arizona with a goal of thirty more sites".
THRV is developing a standardized clinical footprint that can scale nationwide and internationally to offer Wound Care, IV Therapies, Neuropathy Treatment, and enhanced complementary protocols. Each clinic will have up to 20 IV stations and five wound care treatment rooms, generating up to $5-6 million in total revenues per location. Our goal is a 35% EBITDA within each clinic. Approximately 85% of services are reimbursed by third-party payors such as Medicare, Medicaid, and health insurance companies. Cash paid by the patients will represent 15% of gross income from operations.
THRV will start with the two Arizona clinics, one in Gilbert and the other in Show Low, AZ.
"We are excited to join the Thrive Precision team with the ability to build a national and potentially international platform for diabetes care," says Dr. Jason Mulder, CEO of True Diabetes. "In Arizona alone, there are 600,0001 diabetics and an estimated 2 million pre-diabetics, and the caseload far exceeds the capacity to treat those affected. We want to help reverse the pre-diabetic condition before ulcers, amputation, and dialysis occur." CONTINUED… Read this full Press Release for Thrive Precision Health at: https://www.thrivebiosafety.com/news
In other diabetes developments in the markets of recent:
Novo Nordisk A/S (NYSE: NVO) and KBP Biosciences PTE., Ltd. recently announced that Novo Nordisk has agreed to acquire ocedurenone for uncontrolled hypertension with potential application in cardiovascular and kidney disease from KBP Biosciences for up to 1.3 billion US dollars.
Ocedurenone is an orally administered, small molecule, non-steroidal mineralocorticoid receptor antagonist (nsMRA) that is currently being examined in the phase 3 trial CLARION-CKD in patients with uncontrolled hypertension and advanced chronic kidney disease (CKD). Uncontrolled hypertension is when a person's blood pressure remains high despite taking two or more blood pressure-lowering treatments.
"Hypertension is a leading risk factor for cardiovascular events, heart failure, chronic kidney disease and premature death," said Martin Holst Lange, executive vice president and head of Development at Novo Nordisk. "With its expected benefit-risk profile, ocedurenone has best-in-class potential in treating uncontrolled hypertension and could help address a major unmet medical need in people living with cardiovascular disease and chronic kidney disease."
Tandem Diabetes Care, Inc. (NASDAQ: TNDM), a leading insulin delivery and diabetes technology company, recently announced a limited time offer for its Tandem Choice technology access program. This program provides new and renewing, eligible t:slim X2 Insulin Pump (t:slim X2) customers in the United States a pathway to ownership of the Tandem Mobi System (Tandem Mobi) for $199. The Tandem Mobi was recently cleared by the United States Food and Drug Administration to be used as a part of an automated insulin delivery system and a limited launch is expected to begin later this year with general availability in early 2024.
"Tandem Choice provides our customers time to decide which of our pump platforms best meets their needs and preferences, without having to delay experiencing the benefits of our Control-IQ technology," said John Sheridan, president and chief executive officer. "Our #1 rated1 t:slim X2, designed for people who want the convenience of an integrated touchscreen device, and our new Tandem Mobi, which offers smartphone control and new wearability options, provides people living with diabetes the power of choice in customizing an automated insulin delivery system to meet their individual needs."
DexCom, Inc. (NASDAQ: DXCM), the global leader in real-time continuous glucose monitoring for people with diabetes, recently announced new clinical study outcomes that further demonstrate the benefits of CGM use and offered more details about its expanding portfolio of automated insulin delivery offerings at the 59th Annual Meeting of the European Association for the Study of Diabetes held Oct. 2-6, 2023 in Hamburg, Germany.
New results from the COMISAIR seven-year study, the longest prospective real-world CGM study ever conducted, show significant and continued reduction of HbA1c with the use of real-time CGM by people with Type 1 diabetes. Regardless of insulin delivery method, multiple daily injections or insulin pump therapy, real-time CGM has greater and statistically significant HbA1c reduction when compared to self-monitoring blood glucose over seven years. The COMISAIR study also shows further substantial reduction in HbA1c when real-time CGM is connected to an automated insulin delivery system, specifically Tandem Control IQ. In addition, the study showed high CGM adherence over seven years, regardless of insulin delivery method, 88.8% for those using CGM and multiple daily injections and 91.9% for those using CGM and AID.
Lexicon Pharmaceuticals, Inc. (NASDAQ: LXRX) recently highlighted upcoming presentations of two studies demonstrating positive financial impact of INPEFA® (sotagliflozin) at the Academy of Managed Care Pharmacy (AMCP) Nexus 2023 National Meeting, October 16-19, 2023, at the Orlando World Center Marriott, Expo Hall, Cypress 1 and 2, Orlando, Florida.
Highlights from the published abstracts: "Economic impact of sotagliflozin among patients with heart failure: Budget impact analysis from US payer perspective" - The objective of this study was to quantify the payer budget impact of sotagliflozin following FDA approval in May 2023, and market entry one month later. - The budget impact was modeled as the change in medical and pharmacy costs from using sotagliflozin in addition to the standard of care (SoC) compared with the SoC alone among U.S. patients hospitalized with heart failure (HF). Costs included pharmacy, inpatient, emergency department visits, and other medical and adverse event costs. Budget impact was measured separately for commercial payer and all-payer scenarios.
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