There is a very well-known worldwide problem in the management of chronic diseases and high costs associated to its control resulting in a poor service. There is also evidence which suggests that there is a correlation between sedentary lifestyle and the prevalence of chronic diseases, such as diabetes. One of the greatest challenges associated with lifestyle diseases is the demand for real-time monitoring of various physiological markers which include blood pressure and blood sugar levels. Diabetes patients are particularly dependent on up-to-date data because routine tracking is an inherent part of living with the disease, which is accompanied by stressful trigger points during which health and psychological needs go in parallel. The ability to log and enter relevant data, whether manually or automatically (via smartphones, tablets or computers), and to update or change information in real time, enables diabetes patients to have greater control over their condition. Diabetes is one of the main existing and growing chronic diseases and according to IDF (International Diabetes Federation) Atlas 8th edition there're over 420 million people between 20 and 79 years old living with diabetes in 2017. The evolution on healthcare expenditure in diabetes has been tremendous, growing from USD 232 billion spent by people with diabetes worldwide in 2007, to USD 727 billion in 2017 only on healthcare which corresponds to one for every eight dollars spent on healthcare (12% of global health expenditure). Moreover approximately 4.0 million people aged between 20 and 79 years are estimated to die from diabetes in 2017, which is equivalent to one death every eight seconds. Medicsen has developed an app that fits perfectly in the European market, in which healthcare providers will benefit from cost reduction and an increase in the quality of their services, initially for patients with diabetes but adapting it later on to other diseases and healthcare problems relevant for the region (high blood pressure, general lifestyle management, epilepsy...). With the decisions we have made in 2017, we believe to have created a solid platform for the sustainable, long-term growth of Medicsen. In 2018, we will focus on implementing the strategies we have developed and started executing in 2017. The increase in the number of people with chronic diseases such as diabetes and the cost of treating them put healthcare budgets under pressure. Therefore, we expect a modest growth on sales in 2018, as we progressively position in order to gain market share for the app while we continue on testing and validating the smartpatch technology in order to be commercialized during 2020.
Medicsen seeks both public and private funding to achieve the milestones mentioned above, up to EUR 4 million during 2018 & 2019, which will allow us not only to attract and hire talent but also to achieve continuous improvement in terms of development, quality control, regulatory aspects and commercial relations.
