Can Apple Disrupt the $15 Billion Global Market for Glucose Monitoring?
Depending on which data you trust, the global market for glucose test strips used in diabetes management is somewhere between fifteen and twenty billion USD globally.
We could write an entire article on the artificially high average price of blood glucose test strips, much like insulin, but that's not what this is about.
This is about hope.
As in, I hope that Apple makes blood glucose monitoring less like razors and razor blades and more like blood pressure monitoring.
We all know that an entire generation of quants have figured out that if you can give away the razor handle and sell the razor blades, recurrent revenue is your friend. Blood glucose monitoring has worked like that for far too long, so it should come as no surprise that many healthcare markets work that way, at least in the US.
Thus, I took note today when an ex-Apple exec who I respect spelled out Apple's plans with its digital health initiative, at least in the short-term.
Let's hope he's right, so that millions of people won't go bankrupt paying for blood glucose test strips and instead receive the healthcare solutions they need at a cost that demonstrates the transformative nature of digital health approaches.