- The global continuous glucose monitoring devices market size is expected to reach $19.04 billion in 2028
- The increasing prevalence of diabetes, rising focus on preventive care are significant factors in the steady revenue growth
- Nemaura Medical’s sugarBEAT device allows individuals to make adjustments to diet and activity that can significantly change their lives
According to a recent Reports and Data release, the global consumer monitoring (“CGM”) devices global market is forecast to see notable growth in the coming years (https://ibn.fm/LhWNO). Key companies operating in the space, including Nemaura Medical (NASDAQ: NMRD), are ideally positioned to benefit from that growth as they work to meet the needs of the industry.
The increasing prevalence of diabetes and rising focus on preventive care are major factors in the steady revenue growth projected for the CGM devices market, according to the latest analysis by Reports and Data. “The global continuous glucose monitoring devices market size was USD 4.11 billion in 2020 and is expected to reach USD 19.04 billion in 2028 and register a revenue CAGR of 19.2% during the forecast period, 2021–2028,” the article stated.
“Continuous glucose monitoring devices enables tracking of blood glucose levels round the clock,” the article continued. “These devices monitor a patient’s glucose levels via sensors that send readings to the receiver’s device screen or smartphone. Continuous glucose monitoring devices aid patients in managing diabetes with lesser fingerstick tests. Increasing prevalence of diabetes in countries across the globe and growing preference for monitoring and managing diabetes at home are boosting adoption of continuous glucose monitoring devices. In addition, rapid technological advancements in glucose monitoring devices and increasing affordability of innovative devices are some other factors expected to contribute to revenue growth of the market going ahead.”
The report also noted that wearable CGM devices can help patients track and understand how their sugar levels change over time. The devices also provide alerts when glucose levels reach levels fall below or rise above acceptable levels. In addition, “CGM data can provide healthcare providers critical insights into patterns of high and low glucose levels, in turn, leading to a personalized care approach and better management of diabetes. These advantages are further boosting adoption of these devices and are expected to fuel revenue growth of the market over the forecast period.”
Nemaura Medical’s proprietary sugarBEAT(R) device is the world’s first-of-its-kind noninvasive continuous glucose monitoring sensor designed for use by “everyone,” meaning people dealing with either type 1 or type 2 diabetes as well as those with prediabetes. The device attaches on (not under) the skin and measures real-time blood glucose levels every five minutes. Using that data, users can track their highs and lows, identify trends, and monitor their Time in Range (TIR). This invaluable information allows individuals to make adjustments to their diet and activity that can significantly change their lives.
Nemaura Medical evolved from a micro-system-based drug-delivery platform in 2011. Since then, the company has developed a platform to monitor multiple chemicals in the blood without needles, replacing traditional invasive methods of diagnosis and healthcare observation procedures. Nemaura’s BEAT(R) technology allows for continuous remote monitoring of chronic diseases and health conditions.
For more information, visit the company websites at www.NemauraMedical.com.
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