Wearable Medical Devices Give Patients the Ability to be More Independent
FinancialBuzz.com News Commentary
16 Jul, 2020, 09:00 ET
NEW YORK, July 16, 2020 /PRNewswire/ -- Currently, there are several trends in the healthcare industry which are driving the wearable medical devices market to new levels of popularity. In recent years, a more patient-centered approach has become a key enabler in the adoption of medical wearables. These devices place both the responsibility and control into the patient's hand, in the case of a smartwatch, to track their own health data and vital signs. The information is then reported to healthcare practitioners to come up with guidelines for an efficient treatment plan. In addition, technological advancements such as big data and machine learning are also crucial developments for the growth of the wearables market. And, according to Polaris Market Research, the global wearable medical devices market was valued at USD 14.6 Billion in 2019 and is expected to grow at a CAGR of 24.8% during the forecast period of 2020 –2027. Nemaura Medical, Inc. (NASDAQ: NMRD), AstraZeneca PLC (NYSE: AZN), Pfizer Inc. (NYSE: PFE), Novavax, Inc. (NASDAQ: NVAX), Co-Diagnostics, Inc. (NASDAQ: CODX)
Other important developments in the medical wearable devices segment include various studies designed to illustrate the role of such devices in a time of a pandemic. Recently, the Stanford Healthcare Innovation Lab launched a study with the goal of determine if information from wearable devices, like Fitbit and Apple Watch, can be used to track infectious diseases. In addition, earlier in March, according to mHealthIntelligence, San Diego-based SRTI launched DETECT, a national effort to gather data from smartwatches and activity trackers to analyze how activity, heart rate, sleep patterns and other connected health data can be integrated into a public health surveillance program. Participants were asked to upload their data through the MyDataHelps app.
Nemaura Medical, Inc. (NASDAQ: NMRD) announced earlier this week breaking news that it has, "issued a presentation outlining potential new applications for monitoring disease progression in Covid-19 patients using Continuous Lactate Monitoring (CLM).
The Company has previously discussed the market for athletic performance monitoring using its non-invasive continuous lactate monitor (CLM), and based on recently published independent clinical evaluations, the measurement of blood lactic acid has been established as an indicator for disease progression in Covid-19 patients. The company has issued a presentation on this subject, which can be found here: https://nemauramedical.com/wp-content/uploads/2020/07/BEAT-CLM-in-Covid19-July-2020-1.pdf
Both the CGM and CLM products are based on Nemaura's BEAT™ platform, which is designed to non-invasively extract a number of analytes through the skin. By adapting the sensor chemistry, algorithm and mobile app interface initially developed for sugarBEAT®, the BEAT™ platform has the potential to be utilized for several markets beyond glucose monitoring and diabetes. Nemaura is evaluating the timelines for bringing the CLM to market as a Class 2 approved Medical Device.
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 US as a general wellness product."
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AstraZeneca PLC (NYSE: AZN) announced yesterday that Survivors Have Heart, a national community-building movement powered by stories of heart attack survivors and their loved ones, will return for its third year. This year, through a series of virtual meetings and live stream events, Survivors Have Heart and Bob Harper – host of The Biggest Loser, best-selling author and heart attack survivor – will focus on empowering heart attack survivors to use their second chance at life to share their inspiring stories and expand the Survivors Have Heart community. Bob Harper said: "My personal mission in life has evolved to advocating for heart health and well-being by sharing my heart attack experience. With everything going on in our world, now more than ever seemed like an important time to reach heart attack survivors and connect with them through Survivors Have Heart. I'm so proud of the work we're doing to educate about the risk of having another heart attack and provide heart attack survivors the opportunity to learn from and inspire each other."
Pfizer Inc. (NYSE: PFE) and BioNTech SE announced yesterday that two of the companies' four investigational vaccine candidates from their BNT162 mRNA-based vaccine program (BNT162b1 and BNT162b2) being developed to help protect against SARS-CoV-2 (the virus that causes COVID-19), received Fast Track designation from the U.S. Food and Drug Administration (FDA). BNT162b1 and BNT162b2 are the two most advanced vaccine candidates in the BNT162 program currently being evaluated in ongoing Phase 1/2 clinical studies in the United States and Germany. "The FDA's decision to grant these two COVID-19 vaccine candidates Fast Track designation signifies an important milestone in the efforts to develop a safe and effective vaccine against SARS-CoV-2," said Peter Honig, Senior Vice President, Global Regulatory Affairs, Pfizer. "We look forward to continue working closely with the FDA throughout the clinical development of this program, Project Lightspeed, to evaluate the safety and efficacy of these vaccine candidates."
Novavax, Inc. (NASDAQ: NVAX) announced back in June that the Company had been awarded a contract by the U.S. Department of Defense (DoD) for the manufacturing of NVX–CoV2373, Novavax' COVID-19 vaccine candidate. NVX–CoV2373 consists of a stable, prefusion protein antigen made using its proprietary nanoparticle technology and includes Novavax' proprietary Matrix–M™ adjuvant. JPEO-CRBND-EB through funding provided by the Defense Health Program, has agreed to fund up to USD 60 Million to support Novavax in its production of several components of the vaccine that will be manufactured in the U.S. The agreement includes a 2020 delivery of 10 million doses of NVX–CoV2373 for DoD that could be used in Phase 2/3 clinical trials or under an Emergency Use Authorization (EUA) if approved by the U.S. FDA. "We are genuinely honored at the opportunity to protect our military personnel and their families who have devoted themselves to the needs of U.S. citizens and others worldwide," said Stanley C. Erck, President and Chief Executive Officer of Novavax. "Importantly, this award will allow Novavax to significantly expand its U.S. production capacity of NVX-CoV2373, a critical step in our ability to provide vaccine support to the COVID-19 pandemic."
Co-Diagnostics, Inc. (NASDAQ: CODX) earlier in May announced the publication of a paper showing its Logix Smart™ COVID-19 Test Kit was used to demonstrate that the SARS-CoV-2 virus can be detected in cancer tissue of coronavirus patients, even before symptoms occur. The peer-reviewed paper, published in the Journal of Clinical Pathology, described a study performed at the European Institute of Oncology in Milan, Italy. Researchers used the Company's test to determine whether SARS-CoV-2 was present in the removed tumor of a man who later become symptomatic and was diagnosed with COVID-19. "We are pleased that the quality of our innovative Logix Smart COVID-19 test kit has been demonstrated once again by this impressive and important study," said Dwight Egan, Co-Diagnostics CEO. "Being able to detect the presence of the virus before symptoms even occur illustrates the sensitivity and value of our test, especially in new sample types. The world needs every advantage we can get in our battle against this deadly disease, and we believe our test has the attributes needed to benefit millions across the globe."
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