Opportunity
A better solution for patients, providers and payers – and society.
The BioSpex solution aims to provide a point-of-care device that measures glucose non-invasively in the home or workplace. With no needles, skin piercing or test strips, it will eliminate pain and suffering in the testing process.
By enabling and encouraging patients to measure their glucose levels more frequently, our non-invasive solution will help patients better control their blood sugar, manage their health and reduce the risk of future complications, such as heart, kidney and other diabetes-related diseases.
Immense market potentials
The worldwide population of diabetes patients reached 463 million in 2020. Test-strip sales alone amounted to $18.5 billion in 2020. The global self-monitoring and continuous measurement device market is projected to reach US$ 28.8 billion by 2024.
Current glucose test methods have known drawbacks. Self-monitoring with blood draws can be painful. Continuous glucose monitoring, which entails micro-needle patches affixed to the skin, measures interstitial fluid – not blood glucose – and relies on an algorithm that can only approximate an actual glucose measure.
Many diabetes patients skip their recommended testing due to these obstacles. Non-invasive technology beats current methods on the “3Cs”: cost, comfort and convenience.