Brighter AB (publ) has developed estimates of segment size and ideal target markets for the company's diabetes solution Actiste® Diabetes Management as a Service for 14 markets.
"These 14 markets are examples of potential target markets for us to penetrate. We weighed in barriers to entry, the size of the market, healthcare structure and how fast diabetes is spreading in the region. Seven of the 14 countries are featured on the International Diabetes Federation (IDF) list of the worlds top10 countries with the highest number of people diagnosed with diabetes, and 6 of them are expected to be on IDF's top list of worst-hit countries in 2045," says Brighter's CEO and founder Truls Sjöstedt.
Diabetes is one of the world's 10 most common causes of death and the number of patients is rapidly increasing worldwide, often in conjunction with fast economic growth in a region. The cost of treating diabetes is high and rises steadily. According to IDF, diabetes treatment was over $ 727 billion in 2017, an increase of 8% compared to 2015. One of the most important drivers for modernizing diabetes therapy is therefore to help patients to better manage their own treatment and to stimulate them to live healthy.
"Markets like the USA are mainly driven by financial concerns, as their healthcare costs need to be reduced. In the US, the health care costs now account for more than 17% of its GDP. Other markets are driven by geopolitical conditions and lack of "modern" health infrastructure, and those markets tend to view Brighter and Actiste as an opportunity to build a digital, cost efficient, secure and decentralized healthcare platform. This allows Brighter to develop different marketing strategies for individual markets and regions. Some markets will be penetrated with partners, others with Brighter's own sales force, and others through healthcare providers," says Truls Sjöstedt.
The 14 markets are shown in the table below. The target market vision indicates the estimated number of subscriptions of Actiste that is achievable, assuming market penetration within the segment reaches 30% within 5 years from market launch, in each respective market.
Market Population Number of Insulin Market Vision Actiste
Britain 66,000,000 1,056,000
Arabia 32,000,000 2,200,000
Arab 9,000,000 680,000
Total: 3,917,000,000 111,887,000 33,565,800
Brighter is a Swedish-based company that, from a unique IP portfolio, creates smart solutions for one of healthcare's biggest challenges: changing patient behavior. Chronic diseases such as diabetes are rapidly increasing, and account for an increasing share of healthcare costs globally. Brighter's Business Model and Multi-Sided Market Platform - The Benefit Loop™ - is based on the fact that many special interests create value for each other. By increasing access to valid health data, Brighter creates value for all stakeholders in the care chain: patients and their close associates, healthcare providers, research institutes, the pharmaceutical industry, and society as a whole. www.brighter.se
Brighter's solution Actiste® handles most of the self-monitoring and treatment of insulin-treated diabetes in a single easy-to-use device. Measurement of glucose levels, insulin injection, and automatic logging and timing of all activity are done in a single unit. Actiste is connected via an autonomous and secure mobile connection, the information can be automatically shared with selected recipients through The Benefit Loop®, Brighter's open cloud-based service where data is collected, processed and analyzed.
Validated user-generated data, such as glucose levels or insulin doses, can be automatically transferred electronically to many different constituents. The patient selects when and how data is shared and who will have access to it. Through The Benefit Loop, different services can motivate patients with chronic illnesses to change their behavior, which can save lives, reduce relatives ' concerns, and release enormous healthcare resources. www.actiste.com
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