Module 1 Chap 1 Discussion
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Northern Kentucky University *
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600
Subject
Health Science
Date
Dec 6, 2023
Type
docx
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Uploaded by ChiefMandrillPerson882
FreeStyle Libre
is a healthcare app for diabetic patients. Patients download
an app that connects to a small sensor applied to the back of the arm. The
app provides real-time glucose readings for up to 10 days.
Customer demand
for FreeStyle Libre stems from the need to monitor sugar
levels for health and safety purposes. The app is also far more appealing
than traditional finger pricks and allows patients to track averages, enter
food intake, monitor medication dosing, and set lifestyle goals (National
Institute of Health, 2023).
The
market potential
for continuous glucose montioring (CGMs) is quite
large, with 38.4M people suffering from diabetes in the U.S. (CDC, 2023).
2.4M patients currently use CGM (UAB, 2023). The
future growth
potential
within the global market of glucose monitoring devices was valued at
$12.52B in 2022, with an expected growth rate of 8.4% until 2030 (Infinium
Global Research, 2023). CGM apps will continue to become more available to
U.S. citizens has Medicare has expanded coverage of these devices for
patients with Type 2 diabetes (Medtech, 2023).
The
competitive environment
includes other glucose monitoring apps, the
main competitor of which is Dexcom. FreeStyle Libre focuses on achieving a
competitive advantage over Dexcom by using cost leadership. Although both
companies’ apps are free to use, they must be linked to the glucose
monitoring device which requires a prescription. The average cost of
FreeStyle Libre is $87 without insurance, compared to $450 for Dexcom
(Aungst, 2023). This makes the FreeStyle far more accessible to patients.
References:
Centers for Disease Control and Prevention. (2023, November 14).
National Diabetes Statistics
Report
. Centers for Disease Control and Prevention.
https://www.cdc.gov/diabetes/data/statistics-report/index.html#:~:text=Among%20the
%20US%20population%20overall,the%20US%20population%E2%80%94had%20diabetes
.
Yahho! (n.d.).
Global blood glucose monitoring device market poised for remarkable growth, set
to reach USD 26.44 billion by 2030, reports Infinium Global Research
. Yahoo! Finance.
https://finance.yahoo.com/news/global-blood-glucose-monitoring-device-
093000513.html
Doyle-Delgado, K., & Chamberlain, J. J. (2020, December).
Use of diabetes-related applications
and digital health tools by people with diabetes and their health care providers
. Clinical
diabetes : a publication of the American Diabetes Association.
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7755044/#:~:text=The%20app%20allows
%20patients%20to,Apple%20Health%20app%20(21)
.
Reuter, E. (2023, August 17).
Dexcom, Abbott Ramp up DTC marketing amid fight for share of
growing diabetes market
. MedTech Dive.
https://www.medtechdive.com/news/dexcom-
abbott-dtc-marketing-consumers-cgm-coverage/691147/
GoodRx. (n.d.).
Dexcom vs. Freestyle Libre: How do these CGMS compare?
. GoodRx.
https://www.goodrx.com/conditions/diabetes-type-2/dexcom-vs-freestyle-libre
Hi Kadyn,
It sounds like the competitive advantage of My Sugr is its focus (Wiley, 2020). My Sugr is
not
a
continuous glucose monitoring device (CGM), but rather pairs with CGMs to help patients make
informed decisions about how to manage their glucose levels. This means My Sugr is focusing
on a particular part of the market – not just diabetics, but diabetics who use CGMs. The app
then offers differentiation, as it can pair with a wide variety of CGMs and smart phones (both
Android and Apple). The potential market growth for My Sugr should increase in future years.
The digital diabetes management market was $13.6B in 2021 and expected to increase 12%
until 2030 (Yahoo!, 2023). My Sugr will need to increase the number of CGMs it is compatible
with to remain competitive.
Thanks,
Molly
References
Yahoo! (n.d.-b).
Digital diabetes management market size to reach USD 37.8 billion in 2030 |
emergen research
. Yahoo! Finance. https://finance.yahoo.com/news/digital-diabetes-
management-market-size-173000125.html
Pearlson, K. E., Saunders, C. S., & Galletta, D. F. (2020).
Managing and using information
systems: A strategic approach
(7th ed.). Wiley.
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