Periodic Reporting for period 1 - Elektrosens (Wearable Sweat-based painless and continuous glucose monitoring device for diabetic people)
Période du rapport: 2019-11-01 au 2020-04-30
There are 60 million people with diabetes in the EU (10% of total population). Diabetes is the major cause of death in the age of 20- 79. Also, Europe has the highest number of children with Type 1 diabetes (T1D) compared to other regions with approximately 296,000 diagnosed children and it has one of the highest prevalence rates of diabetes in children with 31,100 new cases per year. The frequent glucose monitoring is the key element in achieving good glycaemic control which is the most important factor in preventing diabetes related complications such as diabetic retinopathy, kidney damage, heart disease, stroke and etc. Due to the high cost of the current CGM devices or pain associated with traditional finger-prick measurement, people cannot monitor their blood glucose level continuously. In 2019, 465,900 people aged between 20-79 died due to diabetes related complications. UK prospective study shows that continuous glucose monitoring leads to improved glycaemic control, which in turn results in reduced diabetes related complications. Study shows that with continuous glucose monitoring diabetes related retinopathy and nephropathy (eye damage) in type 1 and type 2 diabetes decreased around 60% and microvascular complication rate decreased 25%.
Elektrosens Wristband uses a highly selective and accurate novel polymer technology for sensing very low sweat glucose levels which are correlated to blood glucose. Our innovative solution makes the continuous glucose monitoring affordable for all customer segments. By providing continuous glucose monitoring at affordable price the system will provide two main benefits: healthy lifestyle and reduced economic burden of diabetes.
The Market, Technical and Economic feasibility objectives were achieved during the SME Phase 1 Feasibility Study. The detailed market and competitor and Intellectual Property Rights analysis were done and business model and commercialization strategy was developed based on this analysis. Technical regulations for glucose measurement device were determined to ensure successful entrance to diabetes market in Europe. Also, product development, production and commercialization costs were assessed to bring the device from TRL 6 to TRL 9. Based on the commercialization plan, business forecast for upcoming 5 years following the market launch was developed.
Elektrosens Wristband uses a highly selective and accurate novel polymer technology for sensing very low sweat glucose levels which are correlated to blood glucose. Our innovative solution makes the continuous glucose monitoring affordable for all customer segments. By providing continuous glucose monitoring at affordable price the system will provide two main benefits: healthy lifestyle and reduced economic burden of diabetes.
The Market, Technical and Economic feasibility objectives were achieved during the SME Phase 1 Feasibility Study. The detailed market and competitor and Intellectual Property Rights analysis were done and business model and commercialization strategy was developed based on this analysis. Technical regulations for glucose measurement device were determined to ensure successful entrance to diabetes market in Europe. Also, product development, production and commercialization costs were assessed to bring the device from TRL 6 to TRL 9. Based on the commercialization plan, business forecast for upcoming 5 years following the market launch was developed.
During SME Phase 1 project, technical, market and economic feasibility studies were made, objectives related to these studies have been achieved and Feasibility Report has been prepared. In depth market analysis including market trends, market size and growth rate was made. Targeted user needs has been determined. Also, technical specifications required to successfully pass regulations have been identified. Business model was validated through the above mentioned studies.
We’ve carried out a competitor analysis and we couldn’t find a similar device in the market that allows glucose measurement from sweat. Elektrosens Wristband is a unique device allowing sweat-based continuous and painless glucose measurement for low cost. Currently, Diabetic people measure their blood glucose levels by the conventional fingerprick method in an invasive and painful way 4-6 times a day. Furthermore, sensors are disposable which do not allow continuous measurement and cause ongoing cost. There are Continuous Glucose Monitoring devices (CGM) present which measure glucose continuously but invasively from interstitial fluid (ISF), the cost of the sensor (70EUR/week) makes it difficult to afford.
The Elektrosens Wristband allows continuous glucose monitoring from sweat at low cost. With continuous and low-cost monitoring, diabetic people will be able to monitor their blood glucose levels frequently (70 measurements/sensor) which will lead to increased life quality through better glycaemic management. The device will be integrated with cloud based system, which will allow the doctors to track their patients’ stet of health, thus leading to better health outcomes. Also, through remote patient monitoring, hospitals will reduce the financial burdens caused by re-admission and emergency room visits.
The Elektrosens Wristband allows continuous glucose monitoring from sweat at low cost. With continuous and low-cost monitoring, diabetic people will be able to monitor their blood glucose levels frequently (70 measurements/sensor) which will lead to increased life quality through better glycaemic management. The device will be integrated with cloud based system, which will allow the doctors to track their patients’ stet of health, thus leading to better health outcomes. Also, through remote patient monitoring, hospitals will reduce the financial burdens caused by re-admission and emergency room visits.