Periodic Reporting for period 1 - Glucoset (Boronic acid hydrogel sensor for intravascular (arterial) blood glucose monitoring)
Reporting period: 2016-06-01 to 2016-11-30
Poor glucose control in critically ill hospitalized patients leads to infections, deaths and large costs for hospitals. Currently, the only viable solution is to use manual point measurements of glucose for moderate glucose control. GlucoSet has developed a real-time arterial blood glucose sensor that will reduce the risk of harmful low glucose episodes, and make safe intensive insulin therapy possible. These two benefits are expected to significantly improve outcomes and reduce the length of stay for patients in the ICU. This is not only important for individuals, but also for society, as the need for intensive care is expected to outgrow supply in the next years, due to an aging population.
The objective of this feasibility study is to validate and quantify GlucoSet’s competitive advantages, market size and IPR; to validate feasibility of mass production of product; and to set up a clinical and regulatory strategy for the product.
The study has confirmed GlucoSet's competitive advantage in a survey among European ICU managers; continuous monitoring through an indwelling arterial catheter was considered a must have and highly valuable. Conversely, the advantages of our direct competitors were not seen as necessary by a significant share of customers. The market size has been estimated at 1350 MEUR, and the company's IPR strategy has been validated by an external party. External parties also validated the feasibility of mass producing the product. Finally, a realistic and feasible clinical and regulatory strategy has been established.
The study has confirmed GlucoSet's competitive advantage in a survey among European ICU managers; continuous monitoring through an indwelling arterial catheter was considered a must have and highly valuable. Conversely, the advantages of our direct competitors were not seen as necessary by a significant share of customers. The market size has been estimated at 1350 MEUR, and the company's IPR strategy has been validated by an external party. External parties also validated the feasibility of mass producing the product. Finally, a realistic and feasible clinical and regulatory strategy has been established.
This study has confirmed that there is a need and a market for an arterial continuous glucose sensor. This is seen as highly unique by the market, and customers highlighted that the device was expected to improve quality of care.
When realized, the project will improve the efficiency and quality of ICUs in Europe and beyond, improving quality of life for individuals and reducing the cost of care for society.
The study has also confirmed that it is feasible to develop and manufacture the device in Europe, selling to an international market. In this way, the project is expected to be of significant value to society through job creation in several European countries.
When realized, the project will improve the efficiency and quality of ICUs in Europe and beyond, improving quality of life for individuals and reducing the cost of care for society.
The study has also confirmed that it is feasible to develop and manufacture the device in Europe, selling to an international market. In this way, the project is expected to be of significant value to society through job creation in several European countries.