Smart Diagnostic Devices Help Ease the Burden on Healthcare
FinancialBuzz.com News Commentary
NEW YORK, Aug. 11, 2020 /PRNewswire/ -- Some of the most promising, high-growth-opportunity segments in the medical device market by application include surgical and infection control devices, general medical devices, cardiovascular devices, orthopedic devices and wearable monitoring healthcare technologies. Wearables, in particular, are a new trend that has been evolving in the medical technology sector in recent years. 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. Overall, the global wearable medical device market size is expected to reach USD 29.6 Billion by 2026 and expand at a Compound Annual Growth Rate (CAGR) of 17.7%, according to Transparency Market Research. Nemaura Medical, Inc. (NASDAQ: NMRD), Abbott Laboratories (NYSE: ABT), Masimo Corporation (NASDAQ: MASI), Livongo Health, Inc. (NASDAQ: LVGO), DexCom, Inc. (NASDAQ: DXCM)
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. This is also reinforced by the fact that wearable devices are expected to become significantly smarter. According to GlobalData Analyst, Ed Thomas, "The wearable tech theme incorporates more than just wrist-worn devices. Smart earwear, or hearables, has become a more prominent category with the emergence of devices that incorporate voice-activated virtual assistants such as Apple's Siri and Google's Assistant. Hearables also have the potential to match, or even exceed, the performance of smartwatches when it comes to providing health monitoring services."
Nemaura Medical, Inc. (NASDAQ: NMRD) announced last month that, "it has entered into a letter of intent with Healthimation, LLC ("Healthimation") relating to a possible acquisition of the Healthimation business by Nemaura.
Healthimation is commercialising an application-based diabetes prevention program that has been developed over a period of over 12 years and is supported with clinical data that has been widely published in scientific journal articles. The program is delivered using Hollywood level animation deploying creative user engagement strategies, with a unique program structure aimed at maintaining muscle mass and enhancing metabolism to improve overall health and prevent the regaining of weight. The Company believes these features could form a strong complement to the proBEAT™ subscription service Nemaura plans to offer in the U.S.
Nemaura entered into the letter of intent to augment and fast-track its foray into the U.S. and other global territories with its proBEAT™ product offering. proBEAT™ is a wearable non-invasive glucose monitor designed to gather big data about the multitude of factors that affect glucose levels based on which predictive algorithms and artificial intelligence-based feedback and prompts can be provided to users. The aim is to empower users with knowledge of factors that could affect their blood glucose levels. proBEAT™ is intended to be sold directly to consumers, to healthcare insurers, and to corporate clients. Nemaura expects that proBEATTM will appeal to a broad range of adults encompassing pre-diabetics and Type 2 diabetics, numbering 88 million and 26 million people, respectively, according to the American Diabetes Association, as well as those seeking to lose weight and/or seeking a healthier lifestyle.
About Nemaura Medical, Inc.: Nemaura Medical Inc. (NMRD) is a medical technology company developing micro-systems-based wearable diagnostic devices and currently commercializing sugarBEAT®, and proBEAT™. sugarBEAT®, a CE mark approved Class IIb medical device, is a non-invasive and flexible continuous glucose monitor (CGM) providing actionable insights derived from real time glucose measurements and daily glucose trend data, which may help people with diabetes and pre-diabetes to better manage, reverse and prevent the onset of diabetes. Nemaura has also submitted a PMA application for sugarBEAT® to the U.S. FDA. proBEAT™ comprises a non-invasive glucose monitor and a digital healthcare subscription service and is due to be launched in the U.S. as a general wellness product. For more information visit: www.NemauraMedical.com."
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Abbott Laboratories (NYSE: ABT) announced back in 2019 the launch of a new, smarter heart monitor for better arrhythmia detection. With CE Mark in Europe and U.S. Food and Drug Administration (FDA) clearance, the next-generation Confirm Rx™ insertable cardiac monitor (ICM), a paperclip-sized implantable device, combines smartphone connectivity and continuous, remote monitoring to track unpredictable heart rhythm problems for fast and accurate diagnosis. Abbott's Confirm Rx ICM is helping advance how physicians remotely monitor arrhythmias in people most at risk. Inserted just under the skin in the chest above the heart during a quick, minimally invasive outpatient procedure, the Confirm Rx ICM device is the only ICM on the market that syncs to a smartphone via Bluetooth® and transmits information to the physician to help identify irregular heartbeats quickly. Abbott's mobile app eliminates the need for an additional transmitter and is user-friendly health technology translated in nearly 40 languages. "Through new advances like Abbott's next generation of Confirm Rx ICM, physicians can act more proactively and efficiently in their treatment approach, and patients can stay engaged and connected," said Avi Fischer, M.D., Medical Director of Abbott's Cardiac Rhythm Management therapies.
Masimo Corporation (NASDAQ: MASI) reported last month a significant expansion to the Masimo SafetyNet™ platform with the introduction of Radius Tº™, a wearable, wireless sensor that provides continuous body temperature measurements. By augmenting the already powerful Masimo SafetyNet, which features Radius PPG™ tetherless pulse oximetry, with Radius Tº, the remote patient management solution becomes capable of tracking four key vital signs – oxygen saturation, respiration rate, pulse rate, and now temperature – making it an ideal solution for assessing the status of patients with suspected or low-acuity COVID-19, among many other remote patient management uses. Unlike spot-check thermometry solutions, Radius Tº measures body temperature continuously, providing remote notifications when a patient's temperature is outside a clinician-specified range – giving peace of mind to caregiver and patient alike. Masimo SafetyNet uses a tetherless, wearable single-patient-use Masimo SET® Measure-through Motion and Low Perfusion™ pulse oximetry sensor to monitor a patient's blood oxygen saturation and pulse rate, as well as respiration rate, perfusion index, and PVi®.
Livongo Health, Inc. (NASDAQ: LVGO) announced back in June the findings of two studies that demonstrate how remote monitoring technologies can utilize continuous and unique data insights via its AI+AI® engine to better inform care decisions and outcomes. "Through Livongo's ability to collect a breadth of real-time data points, including meal tags and feeling tags, we are able to build out comprehensive Member profiles and direct interventions and features from our platform that lead to improved clinical outcomes," said Dr. Bimal Shah, Chief Medical Officer of Livongo and senior author of the studies. "As Livongo's AI+AI engine aggregates more data, our platform continues to improve by providing a more personalized care experience. We are able to leverage a combination of machine learning and clinical studies to continue to improve outcomes, drive down health care costs, improve utilization, and empower people to better manage their diabetes."
DexCom, Inc. (NASDAQ: DXCM) a leader in continuous glucose monitoring (CGM), had partnered with Tandem Diabetes Care in the UK, Sweden, Italy and Spain to distribute the Dexcom G6 CGM System integrated with the Tandem Diabetes Care t:slim X2 insulin pump for people with diabetes. Tandem's t:slim X2 insulin pump with Basal-IQ™ technology uses Dexcom G6 CGM readings to predict glucose levels 30 minutes ahead and suspend insulin delivery when glucose is predicted to go low. Insulin delivery resumes as soon as sensor glucose values begin to rise. Use of the integrated system reduced the time spent below 3.9 mmol/L (70 mg/dL) by 31 percent compared to use of a CGM-integrated pump without automated insulin suspension1. "Combining the Dexcom G6 with Tandem's t:slim X2 insulin pump will meaningfully improve diabetes management. Not only does the system eliminate the need for fingersticks, but it also helps patients reduce the frequency and duration of low-glucose events," said Erik Bjorkman, Dexcom's General Manager for EMEA.
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