FinancialBuzz.com’s latest Buzz on the Street Show: Featuring Our Corporate News Recap on “Nemaura Medical Interview to Air on Bloomberg International on the RedChip Money Report.”
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”), together with BEAT™diabetes, a planned health subscription service designed to help people with Type 2 diabetes and prediabetes through personalized lifestyle coaching, today announced an interview with its CEO Dr. Faz Chowdhury will air on The RedChip Money Report television program. The interview will air Sunday, June 28, at 3 p.m. local time on Bloomberg International, available in 100+ million homes across Europe.
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 is planning to submit a PMA application for sugarBEAT® during the second quarter of 2020 for FDA review of this device under medical device regulations. proBEAT™ comprises a non-invasive glucose monitor and a digital healthcare subscription service and is due to be launched in the US as a general wellness product.
The ongoing pandemic has caught people as well as various healthcare systems off guard. While the world is coming up with ways to battle the pandemic, some countries have already started to slowly get back to a more normal state of affairs. Overall, new technology and innovative medical devices offer a possible solution to various issues the medical field is currently struggling with. For example, a report by WIRED indicates that a wearable device, which had been approved by the US Food and Drug Administration (FDA) in May 2019 as a tool for remotely monitoring patients recovering from opioid overdoses, has recently been retooled to help doctors manage patients suffering from the pandemic virus. FDA officials approved the modified version of the device within days. “This way, the caregivers can go about their normal days and only get alerts, only pay attention when they need to,” explains Joe Kiani, inventor and founder of Masimo. “And then, if for some reason they don’t respond within a period, it elevates the alarm to other care providers.”
Wearable devices have started to play an important role in the healthcare industry even before the pandemic. Around the world, there is an increasing number of people who are diagnosed with lifestyle-associated diseases, such as hypertension and diabetes, which has created the need to monitor their health on a regular basis. By using self-monitoring wearable devices, patients are now able to gather crucial data related to various conditions, as well as other health parameters and forward the data to their doctor for review. Of course, technology plays a very important role in the growing acceptance of wearables as a legitimate medical device. And the growing adoption of mobile platforms around the world, the increasing adoption of AI and 5G, and the growing awareness and preference for home healthcare are all expected to help boost the market. Overall, the global wearable healthcare devices market is projected to reach USD 46.6 Bllion by 2025 from just USD 18.4 Billion in 2020 and while at a CAGR of 20.5% from 2020 to 2025, according to MarketsandMarkets.
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