Market

The World Health Organization (WHO) estimates that more than 180 million people worldwide have diabetes. This number is likely to more than double by 2030.

In 2005, an estimated 1.1 million people died from diabetes in the world. WHO projects that diabetes’ deaths will increase by more than 50% in the next 10 years without urgent action. Most notably, diabetes deaths are projected to increase by over 80% in upper-middle income countries between 2006 and 2015.

American Diabetes Association (ADA) estimates that there are 23.6 million people in the United States, or 8% of the population, who have diabetes. The total prevalence of diabetes increased 13.5% between 2005 and 2007. Diabetes was the 6th most common cause of death as recorded on US death certificates.

According to ADA, total annual cost of diabetes in the U.S. was $174 billion in 2007. WHO estimates that over the next 10 years (2006-2015), China will lose $558 billion in foregone national income due to diabetes, heart disease and stroke alone.

According to the Journal of Diabetes Science and Technology (Volume 3, Issue 5, September 2009), the market for self-monitoring of blood glucose approached $8.8 billion worldwide in 2008 and is expected to reach $18 billion in 2015.

While accounting for only a small slice (around $70 million in 2008) of this market now, CGM technology has the great potential to enlarge the size of both the U.S. and international markets for glucose monitoring. As reported in several market research reports, the global market for CGM systems will grow at an annual growth rate of 15%-20% through 2015 even without solving the accuracy issue.

To date, three companies, Medtronic, Abbott and DexCom, have received approval from the FDA for continuous glucose monitors. In addition, Bayer, Johnson & Johnson, Roche Diagnostics and many smaller companies are working on developing CGM systems. However, none of the FDA approved products are labeled for use as a replacement for finger-stick devices.

 

Opportunity

The main barrier to market adaptation is accuracy (as illustrated in figure below). Armozyme is poised to improve CGM accuracy not only to satisfy FDA requirements for a stand-alone use but also to advance the efforts towards a closed-loop artificial pancreas. In addition, because affordability to end consumer is directly related to reimbursement, by solving the accuracy problem, CGM manufacturers will be able to demonstrate the clinical benefits to payers and gain insurance coverage for their products. The tremendous opportunity is that these benefits will subsequently lead to wide adoption by consumers as well as usage in numerous other applications such as for in-hospital use and artificial pancreas systems. Through its patented technologies, Armozyme’s accuracy solution will induce greater demand for CGMs and improve the lives of millions of diabetes sufferers.  

Source: New England Healthcare Institute (NEHI)

 

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Terms of Use and Copyright Notices

Armozyme, Inc., an enzyme enhancement company, neither produces nor distributes continuous glucose monitoring (CGM) systems. The pictures used in this site are designed to provide general and non-commercial information about CGMs and not intended to market or promote any specific products.

Nothing contained on this site is intended to offer medical advice for the treatment of illness or disease, or to be a substitute for professional medical advice, diagnosis, or treatment. None of the CGM systems is a substitute for blood glucose testing with a blood glucose finger-stick method.

In addition, nothing presented here is intended to provide instructions on the use of continuous glucose monitoring products. For specific information and instructions regarding the commercially available CGM products, please contact the manufacturers of CGMs.

MiniMed Guardian® REAL-Time Continuous Glucose Monitoring System, MiniMed Paradigm® REAL-Time system, MiniMed Paradigm® REAL-Time Insulin Pump and Continuous Glucose Monitoring System are trademarks of Medtronic MiniMed, Inc.

DexCom™, SEVEN® are trademarks and registered trademarks of DexCom, Inc.

FreeStyle , FreeStyle Navigator® Continuous Glucose Monitoring System are trademarks or registered trademarks of the Abbott Group of Companies.

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