Biomedical Engineering Reference
In-Depth Information
up until the year 2009, and perhaps for later years, it would help increase the reliability of
these numbers. Inherently, these predictive numbers for growth rates and market sizes have
rather low reliability factors. The further into the future these predictions are made, the lower
will be the reliability of these numbers, thanks to the rapidly changing dynamics in the bio-
sensor field.
A recent report by
reportlinker.com (2008)
titled, “Blood glucose testing and diabetes man-
agement,” published in July 2007 indicates that the global market for glucose testing products
is undergoing a significant change due to the introduction of new technologies and develop-
ments. This is an expensive ($3400), 286 page report, and explains that even though the IVD
industry is mature, there is considerable room for growth in the home testing devices for dia-
betes management, especially in the area of noninvasive management. The report indicates
that consumers prefer to test at home (without visiting a doctor), and the less invasive the
procedure the more comfortable consumers are; besides there is considerably better testing
compliance.
Furthermore, a whole wide range of self-testing devices are available now; and some are even
given away for free. In these cases, it is important to recognize that the money is made through
the testing strips, which can range from 60-80 cents per strip. This is based on the business
model of the printer-ink cartridge, or the shaving razor-blade model, wherein, for example,
the printer is relatively cheap, but the ink cartridges are expensive; or alternatively the shaving
razor is relatively inexpensive, but the company makes its money via the razor blades.
This is an expensive report, but rather exhaustive. Some of the chapters address the following
topics (in chronological order): economics of biosensors, business trends in glucose testing,
confluence of new technology, important technology trends, biosensor technology, the mar-
ket players, increased market penetration, costs of doing business in Europe, cost contain-
ment in Europe, price competition, government regulation of medical devices in different
countries such as US, UK, France, Japan, FDA regulations, legal liabilities of glucose meters,
etc. Also, corporate profiles of different companies are given.
SRI, Consulting Business Intelligence (2009)
points out the advantages and disadvantages of
using biosensors. The advantages include the ability to measure the different analytes accu-
rately, quickly, and with a high degree of specificity. However, the disadvantages include
the instability of the biological molecule as it is removed from its native environment. The
report emphasizes that in nonhealth care applications biosensors will find their mark or niche
only when inexpensive and reliable biosensors become available.
Various electronic and life-science companies are becoming interested in biosensors owing to
the significant technologies that have become available. However, this report explains that
varying skills are required in this interdisciplinary area. More often than not, to be successful,
strategic partnerships will be required.
