Qatar, has one of the world’s highest prevalence of diabetes, with 17 percent of the population diabetic and 23 percent pre-diabetic,1 and also has the world’s highest GDP per capita, and therefore represents a significant market for sugarBEAT. Al-Danah Medical Company, part of the Almana Group, is a medical product distributor in Qatar, representing multiple global brands.
Current global CGM usage rates are low and growing rapidly. The United States is the largest single market, where CGM is being used by an estimated 2.6 percent (630,000 users) of all diagnosed diabetics in 2018, representing annualised growth of 117 percent. SugarBEAT is expected to receive CE Mark approval shortly and launch in the United Kingdom, an addresable market for CGM estimated at $1.38 billion per annum. The global addressable market for CGM is estimated at $82 billion annually.2
Nemaura Medical (NASDAQ:NMRD) is a medical technology company developing sugarBEAT as a non-invasive, affordable and flexible Continuous Glucose Monitor (CGM) designed to help people with diabetes and pre-diabetics to better manage their glucose levels. Insulin users can adjunctively use sugarBEAT when calibrated with a finger-stick glucose reading. SugarBEAT consists of a daily disposable adhesive skin-patch connected to a rechargeable transmitter, with an app displaying glucose readings at five-minute intervals for periods of up to 24 hours.
2. PiperJaffray Company Note DXCM Sep 5, 2018