- Metabolic disease cases rising globally, diseases include diabetes, dementia, cardiovascular conditions, stroke
- Companies in diagnostic space posting record revenues, double-digit YOY increases
- Nemaura Medical aims to disrupt the market with Mikobo program’s non-invasive sensor technology, companion mobile application and coaching programs
- Competitor devices use microneedles coated with enzymes and polymers that can cause discomfort, trauma, and skin changes
Clinical research reveals that volatile blood sugar fluctuations are a primary risk factor for rapidly rising cases of metabolic syndrome – a cluster of diseases that include diabetes, dementia, cardiovascular issues, and stroke. Abbott (NYSE: ABT), a global healthcare company targeting the space, recently posted 4Q21 record revenue of $1.02 billion for its FreeStyle Libre diagnostic product, a 35% YOY increase. Nemaura Medical (NASDAQ: NMRD), a medical technology company that develops affordable diagnostic and digital tools for chronic disease management, is strongly positioned to take a substantial market share with its recently launched Mikobo metabolic health and wellness program, offering a distinct competitive advantage with AI-powered monitoring devices that are non-invasive, easy to wear, and cost-effective.
Sensors developed by Nemaura stand apart from competitor devices that employ microneedles coated with enzymes and polymers – some of which require insertion for up to five days. Besides causing discomfort upon insertion, users report trauma and bruising in addition to changes to the skin surface. In contrast, Nemaura Medical’s sugarBEAT(R) and proBEAT(TM) Continuous Glucose Monitors (“CGMs”) sit on the surface of the skin, are easy to apply, and can be worn comfortably without the need for extended periods of wear, providing real-time insights into a person’s state of metabolic health, dietary guidance, and exercise recommendations with the aim of improved long term health and wellness, potentially avoiding many of the chronic conditions that can arise from poor metabolic health.
“A person’s response to sugar intake can influence a number of factors from appetite and body weight to sleep patterns, energy levels, and even mood, not to mention also being a considerable factor in chronic diseases like diabetes, heart disease and dementia,” said Nemaura CEO Dr. Faz Chowdhury. “With MiBoKo, we are able to extend our proprietary non-invasive device and sensor technology and interactive lifestyle and AI-based coaching programs beyond the traditional diabetes market and into an adjacent, yet separate, market application of consumer metabolic health.”
According to Harvard Health, metabolic syndrome cases are rising – especially among women, young adults, Asian, and Hispanic populations. Besides causing multiple health issues among vulnerable groups, employers and insurers are burdened with rising health expenses. According to the International Diabetes Federation, estimates for diabetes expenses – one of many conditions caused by metabolic syndrome – topped $966 billion in 2021, a 316% increase from 15 years ago.
“At Nemaura, we continue to look for the intersection of patient comfort and convenience through advanced and unique technology that addresses significant healthcare needs for large patient populations,” said Dr. Chowdhury. “We believe that MiBoKo offers insights into metabolic health in a user-friendly way unlike any other program on the market.”
Nemaura’s novel technology could potentially help avoid or delay the onset of conditions such as diabetes, heart disease, and other conditions resulting from poor metabolic health. With a strong position at the intersection of the Type 2 diabetes, weight loss health tech, and prediabetic markets, Nemaura management strongly believes that MiBoKo will positively impact populations affected by diseases caused by poor blood sugar management.
For more information, visit the company’s website at www.NemauraMedical.com.
NOTE TO INVESTORS: The latest news and updates relating to NMRD are available in the company’s newsroom at https://ibn.fm/NMRD
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