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Medtronic Unveils Inner CircleSM Program, Boosts Diabetes Arm
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Medtronic plc (MDT - Free Report) recently launched the Medtronic Inner CircleSM patient engagement program in the United States. This move is in line with the company's strategy to strengthen foothold in the high-potential diabetes market.
Inner CircleSM Patient Engagement Program in Detail
The Medtronic Inner CircleSM patient engagement program uses gamification, the application of game design elements in order to inspire people suffering with diabetes to gain better health results. Further, the program stays focused on increased Time in Range (the percentage of time spent in the optimal glycemic range of 70-180 mg/dL). This program also creates a forum, wherein members can share experiences with others on their diabetes journey.
Market Potential
An ageing population, unhealthy lifestyle, rising awareness and higher expenditure in healthcare are likely to drive the highly competitive diabetes market. Notably, the diabetes market is dominated by other major players like Novo Nordisk A/S (NVO - Free Report) , Sanofi (SNY - Free Report) and Becton, Dickinson and Company (BDX - Free Report) .
Globally, the market is expected to value $66,053.1 million at a CAGR of 6.7% between 2016 and 2025 (per a Transparency Market Research report). Considering the bullish market sentiments, we believe that the latest development has been strategic.
Diabetes Business in Focus
Medtronic is consistently trying to enhance the Diabetes business. The company saw a 21.3% rise at constant exchange rate in Diabetes business revenues during fourth-quarter fiscal 2018. The company benefited from a solid uptake of new sensor-augmented insulin pump systems in the United States and international markets along with increased production capacity for the same.
Of late, the company has been seeing certain favorable developments in this niche. Recently, Medtronic had announced that the FDA approved its MiniMed 670G system for patients with type 1 diabetes between seven and 13 years of age. Notably, the approval was based on positive data from an at-home pediatric study.
Further, Medtronic also received the FDA approval for the Guardian Connect continuous glucose monitoring (CGM) system for diabetes patients between the ages of 14 and 75 years.
Notably, the system was initially scheduled to be made available in the first quarter of fiscal 2019 (May-July 2018).
The company also announced that the FDA approved a new arm indication for the Guardian Sensor 3 continuous glucose monitor (CGM), which is used with the MiniMed 670G insulin pump.
Notably, Medtronic expects double-digit growth in the segment in fourth-quarter fiscal 2018, courtesy of consistent performance by MiniMed 670G system in the United States along with enhanced sensor supply capacity.
Additionally, Medtronic has been gearing up for the international introduction of the MiniMed 670G and the U.S. launch of the new professional CGM iPro 3 in 2019.
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Medtronic Unveils Inner CircleSM Program, Boosts Diabetes Arm
Medtronic plc (MDT - Free Report) recently launched the Medtronic Inner CircleSM patient engagement program in the United States. This move is in line with the company's strategy to strengthen foothold in the high-potential diabetes market.
Inner CircleSM Patient Engagement Program in Detail
The Medtronic Inner CircleSM patient engagement program uses gamification, the application of game design elements in order to inspire people suffering with diabetes to gain better health results. Further, the program stays focused on increased Time in Range (the percentage of time spent in the optimal glycemic range of 70-180 mg/dL). This program also creates a forum, wherein members can share experiences with others on their diabetes journey.
Market Potential
An ageing population, unhealthy lifestyle, rising awareness and higher expenditure in healthcare are likely to drive the highly competitive diabetes market. Notably, the diabetes market is dominated by other major players like Novo Nordisk A/S (NVO - Free Report) , Sanofi (SNY - Free Report) and Becton, Dickinson and Company (BDX - Free Report) .
Globally, the market is expected to value $66,053.1 million at a CAGR of 6.7% between 2016 and 2025 (per a Transparency Market Research report). Considering the bullish market sentiments, we believe that the latest development has been strategic.
Diabetes Business in Focus
Medtronic is consistently trying to enhance the Diabetes business. The company saw a 21.3% rise at constant exchange rate in Diabetes business revenues during fourth-quarter fiscal 2018. The company benefited from a solid uptake of new sensor-augmented insulin pump systems in the United States and international markets along with increased production capacity for the same.
Of late, the company has been seeing certain favorable developments in this niche. Recently, Medtronic had announced that the FDA approved its MiniMed 670G system for patients with type 1 diabetes between seven and 13 years of age. Notably, the approval was based on positive data from an at-home pediatric study.
Medtronic PLC Price
Medtronic PLC Price | Medtronic PLC Quote
Further, Medtronic also received the FDA approval for the Guardian Connect continuous glucose monitoring (CGM) system for diabetes patients between the ages of 14 and 75 years.
Notably, the system was initially scheduled to be made available in the first quarter of fiscal 2019 (May-July 2018).
The company also announced that the FDA approved a new arm indication for the Guardian Sensor 3 continuous glucose monitor (CGM), which is used with the MiniMed 670G insulin pump.
Notably, Medtronic expects double-digit growth in the segment in fourth-quarter fiscal 2018, courtesy of consistent performance by MiniMed 670G system in the United States along with enhanced sensor supply capacity.
Additionally, Medtronic has been gearing up for the international introduction of the MiniMed 670G and the U.S. launch of the new professional CGM iPro 3 in 2019.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
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