FinancialBuzz.com’s latest Buzz on the Street Show: Featuring Our Corporate News Recap on “Nemaura Plans To Launch Body-Worn Continuous Temperature Monitor (CTM) to Track Fever Caused by Viral Infections such as COVID-19.”
Nemaura Medical Inc. (NASDAQ: NMRD), a medical technology company focused on developing micro-systems-based wearable diagnostic devices and currently commercializing sugarBEAT®, its non-invasive and flexible continuous glucose monitor (“CGM”), announced plans for a new product line by seeking to immediately repurpose sugarBEAT® as a CTM since its inbuilt temperature sensor is capable of continuously tracking body temperature through the skin. Nemaura is considering various options to expedite the launch of a CTM, including potential partnerships and direct to consumer sales.
Nemaura Medical, Inc. is a medical technology company commercializing BEAT®diabetes, a health subscription service designed to help people with diabetes and prediabetes better manage diabetes and reverse Type 2 diabetes or prevent diabetes through 1-on-1 lifestyle coaching and behavior driven by real time continuous glucose monitoring (CGM) and daily glucose trend data provided by sugarBEAT®, a non-invasive and flexible CGM.
The healthcare industry has made significant progress when it comes to efficiency and scope in the last several years, yet many complex issues remain unsolved. However, wearable devices provide an innovative solution for various important problems within the healthcare industry, while companies like Apple and Samsung are heavily involved in the innovation of such devices. For instance, wearable technologies allow for constant and remote monitoring of biochemical parameters, as well as human physical activities and behaviors. The most commonly measured data include vital signs such as heart rate, blood pressure, and body temperature, as well as blood oxygen saturation and glucose levels. In the medical field, the accuracy of data provided back to the users is of critical importance. Consequently, medical device manufacturers have to focus on reimagining sensor technologies and improving accuracy of data. Furthermore, the highly anticipated 5G network development is expected to help in that regard and may also change how miniaturization of electronics enables the design of more reliable and adaptable wearables. Overall, the wearable medical devices market value is projected to reach USD 14.41 Billion by 2022 from USD 6.22 Billion in 2017 while expanding at a Compound Annual Growth Rate (CAGR) of 18.3%, according to a report by MarketsandMarkets.
The recent pandemic, which has put a heavy toll on our economy and pushed the healthcare system into a severe scarcity problem, further illustrates the importance of wearable remote monitoring devices. As hospitals are desperate to make space for only the sickest patients, they are evaluating the use of new technologies to monitor patients from their homes. According to a recent report by STAT, U.S. medical personal are seeking to avoid the fate of Bergamo, Italy, where centralized care in hospitals seems to have caused to a sharp rise in the infection rate and death toll, and left health care workers overwhelmed. “Traditional health care delivery is inadequate in dealing with this pandemic,” Raj Khandwalla, a physician and Director of Digital Therapeutics for the Smidt Heart Institute at Cedars-Sinai Medical Center in Los Angeles. “We have to use a health care strategy that deploys resources throughout an entire community, and that’s where remote monitoring comes in.” In addition, companies from various industries have had to step up and increase production of necessary equipment, such as testing kits and ventilators, as well as other necessary accessories like medical masks and gloves.
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