NEW YORK, July 7, 2020
FinancialBuzz.com News Commentary
NEW YORK, July 7, 2020 /PRNewswire/ -- Wearable devices have now become one of the fastest developing segments of the technology and medical technology industries. Wearable devices were designed to track real time data on various activities of its user and can be worn on the body with ease. Generally, these devices include analog-watches, smartwatches, glasses, fitness trackers and others. More recently, synchronization of such devices with smartphones has become an evolving technology with a numerous new features being incorporated into the devices. This increase of diverse applications is a major driver for this market's growth. Furthermore, the implementation of the Internet of Things (IoT) that is used for the development of new features among smartwatches has created an essential transformation in the watch industry. Overall, according to Knowledge Sourcing Intelligence LLP, the wearable devices market is projected to grow at a CAGR of 21.63% to reach USD 80.438 Billion by 2025, from USD 24.486 Billion in 2019. Nemaura Medical, Inc. (NASDAQ: NMRD), Abbott Laboratories (NYSE: ABT), Medtronic plc (NYSE: MDT), Tandem Diabetes Care, Inc. (NASDAQ: TNDM), Livongo Health, Inc. (NASDAQ: LVGO)
In the medical field, growing health awareness at the global level is expected help the medical wearable device segment reach new highs. Medical wearables are built to track vital signs and other health indicators, including calorie intake, cholesterol levels, heartbeat rate, blood pressure, glucose levels, sleeping patterns and more. Now, the rising occurrence of chronic diseases, along with increasing mortality rates, is a major area of concern among people as well as government organizations. Therefore, healthcare providers are offering personalized care including continuous and remote patient monitoring. These medical devices can be worn 24 hours without affecting the user's routine life. Hence, the demand for wearable devices is projected to witness a rise over the forecast period. "The therapeutic device segment is anticipated to expand at the fastest CAGR throughout the forecast period owing to the increasing influx of these products. Moreover, a strong pipeline of therapeutic devices such as intelligent asthma management devices, wearable pain reliever devices, and insulin management devices is anticipated to assist market growth," a report by Grand View Research, Inc. indicates.
Nemaura Medical, Inc. (NASDAQ: NMRD) just announced breaking news that, "it has submitted its PMA application for sugarBEAT® to the United States Food and Drug Administration (FDA) through the eCopy (electronic copy) program submission process.
Nemaura's CEO, Dr. Faz Chowdhury, commented, 'The USA represents the largest single market for sugarBEAT® and submission of the PMA application is a major milestone for the Company. Whilst the PMA application is under review for approval of sugarBEAT® as a Class III medical device, we plan to launch proBEAT™ in the USA later this year. proBEATTM will be introduced as a wellbeing device whereby we will be collecting glucose profiles and developing artificial intelligence-based prompts and feedback on how different factors affect glucose levels to help people make informed lifestyle choices'.
The intended use of sugarBEAT® is for persons with diabetes as an adjunct to finger prick testing to monitor and track their glucose profiles, so that the user can be better informed about the factors affecting their glucose profile, and to help manage their diabetes or potentially reverse their diabetes in the case of Type 2 diabetes. sugarBEAT is targeted initially at the Type 2 diabetic population, which number is greater than 25 million people in the U.S.
CEO Dr. Faz Chowdhury will be participating in an investor webinar, hosted by RedChip Companies, on Tuesday, July 7, 2020 at 11:00 a.m. ET. A live Q&A session with Dr. Chowdhury will follow the presentation. During the presentation, Dr. Chowdhury will provide an update on the Company's developments, including commercialization progress, U.S. product launch, and status of collaborative partnerships, as well as update on a continuous temperature monitor (CTM) for both the diabetes and non-diabetes markets.
To register for the free webinar, please visit: https://www.redchip.com/corporate/webinar_register/64
For our latest "Buzz on the Street" Show featuring Nemaura Medical, Inc. recent corporate news, please head over to: https://www.youtube.com/watch?v=KBj5haaYzKE
Abbott Laboratories (NYSE: ABT) announced earlier this year that four real-world data abstracts are being presented during the 13th Advanced Technologies & Treatments for Diabetes (ATTD) in Madrid. The new data show that users of the FreeStyle Libre system have improved glucose control, increased time in target glucose range, and decreased time in hyperglycemia (high glucose levels) and hypoglycemia (low glucose levels), as well as reduced HbA1Ci, (average glucose levels over a three month period). "As the world leader in sensor-based glucose monitoring with more than two million users, Abbott's FreeStyle Libre system has an unmatched body of real-world evidence supporting its clinical benefits," said Mahmood Kazemi, M.D., divisional vice president, global medical and scientific affairs, and chief medical officer, Diabetes Care, Abbott. "Time and time again, we've seen meaningful data that reaffirm our technology's direct impact in achieving better health outcomes for people with diabetes – and the findings at ATTD underscore how we're continuing to transform people's lives."
Medtronic plc (NYSE: MDT) announced earlier this year the CE (Conformité Européenne) Mark for Percept™ PC neurostimulator; it is the only Deep Brain Stimulation (DBS) system to be launched in the European Union (EU) with BrainSense™ technology that can sense and record brain signals while delivering therapy to patients with neurologic disorders, such as Parkinson's disease. "DBS is proven to significantly improve motor function in people with Parkinson's disease compared to standard medication alone – but with currently-available systems, physicians need to make therapeutic decisions mostly based on clinical assessments and patient-reported information," said Professor Andrea Kühn, Head of Movement Disorders and Neuromodulation, Charité University Hospital, Berlin. "Percept PC with BrainSense technology is a game changer. Patients and their care teams will have objective patient-specific brain signal data – including data recorded outside the clinic in patients' everyday lives. With this technology, doctors could tailor therapy more precisely to the individual needs of each patient based on data from neuronal activity."
Tandem Diabetes Care, Inc. (NASDAQ: TNDM), an insulin delivery and diabetes technology company, announced back in January its commercial launch of the t:slim X2™ insulin pump with Control-IQ™ technology, an advanced hybrid-closed loop feature designed to help increase time in range (70-180 mg/dL). It is the first and only system cleared to deliver automatic correction boluses in addition to adjusting insulin to help prevent high and low blood sugar. The system integrates with Dexcom G6 continuous glucose monitoring (CGM), which requires no fingersticks for calibration or diabetes treatment decisions. The Company will soon begin sending emails with update instructions to all in-warranty t:slim X2 users in the United States, who have the option to add the new feature free of charge via remote software update. t:slim X2 pumps pre-loaded with Control-IQ technology are now shipping to new customers. "Control-IQ technology has been described by study participants and investigators as 'life-changing,' 'easy to use,' and 'a new standard of care in insulin therapy management,' which is incredible feedback as we commence this commercial launch and begin bringing its benefits to more people with diabetes," said John Sheridan, President and Chief Executive Officer.
Livongo Health, Inc. (NASDAQ: LVGO) announced earlier this year that its Applied Health Signals platform will be available to New Jersey State and School Employee Health Plan Members. Livongo, in partnership with Horizon Blue Cross Blue Shield of New Jersey (Horizon BCBSNJ), will make the Livongo for Diabetes solution available to over 460,000 public employees and their dependents. "As the prevalence and cost of chronic conditions continues to rise, we are excited to be able to offer these new tools and services to make it easier for our members to manage their health," said Christin Deacon, Assistant Director for the State of New Jersey, Division of Pensions and Benefits. "Working within the partnership between Livongo and Horizon Blue Cross Blue Shield of New Jersey, we are now able to bring the industry leading Livongo benefit to the thousands of New Jersey State and School Health Plan Members living with diabetes."
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