Finnish firm targets India with device for diabetic juvenilesPublished On: Mon, Sep 19th, 2011 | Global Health | By BioNews
A Finnish company is developing a new device to test glucose levels and hopes kids and juveniles in India, often called the diabetes capital of the world, would particularly benefit from it.
Specifically designed for the young, the product has been developed by Modz, founded by Finnish inventor and physiotherapist Salla Koski, who has won the latest European Women Inventors and Innovators Network award in Iceland.
“Modz’s first product is a unique blood glucose meter especially designed for kids and teenagers,” said Pietari Päivänen, chief executive of Modz. “We completed the first round of financing this year. Commercial production will start soon,” he told IANS.
The device is compatible both to connect with a mobile phone and a computer. “On an average, a child is required to take a blood sample around 10 times a day. Our device also reminds him or her on that,” he said.
“Apart from reminding about the test, the device also tells the results with icons, colours and the spoken word. The results can also be sent to parents, doctors and hospitals, which secures the child even more.”
Päivänen said over 300 million people across the world are affected by diabetes. Of these, 15 million are juveniles. Modz would aim to get significant share in the niche market for diabetic juvenile worth $200 million and expanding at 11 percent annually.
The Modz chief executive said studies reveal that India is one of the biggest markets for such products. Currently, nearly 45 million people are affected by diabetes in India. The number is likely to grow to over 70 million by 2025.