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Market Overview Today, an individual's metabolism can only be accurately measured during activity by a $20-70K large stationary device, typically in a clinical environment. With the increasing national awareness of obesity growing to epidemic and an estimated 55% of adult Americans (97 million) categorized as overweight, LifeChek™ anticipates rapid acceptance of its product. However, LifeChek™ intends to establish its technology not only as a "must have" for the obesity market, but also for all markets where an accurate, portable means for the total human energy measurement equation is needed. Target markets LifeChek™ plans to market and sell this device to two major markets: weight conscious consumers, including diabetics and fitness enthusiasts; and professionals, including physicians, nutritionists, and others who need an easy-to-use device to assess energy requirements in a variety of different patient conditions. This latter market represents a significant future opportunity for the metabolism monitor. Weight conscious Obesity has become one of the most serious public health problems in the United States today. It is a chronic disease that contributes to numerous other diseases, including diabetes, the consequences of which consume $100 billion annually in healthcare related costs. At least 70 million Americans are obese: more than one-third of all adults and one in five children. In just the last six years, there has been a twenty-five percent increase in the number of obese people according to the American Obesity Association.
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Diabetics Shape Up America reports that 15.7 million people in the United States have diabetes and that 90-95% of those cases are Type 2. As much as 97% of those Type 2 cases, approximately 14.4 million, are attributable to obesity. The correlation is so high that there is a new term for the trend, "Diabesity." The diabetic market is growing approximately 10-12% yearly. Regular exercise, achieving and maintaining a healthy weight can control many cases of Type 2 diabetes. A 2000 Mediamark Research reported that 70.9 million (almost one third of U.S. adults) say that they are on a diet. According to Simmons Market Research, while 66% of those say they are on a diet to shed pounds, 18% are trying not to gain any more. The LifeChek™ calorie sensor will be a fact-based and motivational tool as part of both exercise and weight loss initiatives. Nearly $65 billion is spent annually on weight loss programs. Physicians, nutritionists and other healthcare providers influence the weight loss market. Fitness The sports and fitness market is large and growing. It is estimated that there are over 40 million sports enthusiasts in the United States alone. In 1999, Mediamark Research Inc. concluded that over 95 million Americans engage in a regular exercise program at least twice a week. Medical: Patient Monitoring The world patient monitoring equipment market totaled over $7 billion in 2000, with an average 10 percent yearly projected growth until 2005. Want to learn more about LifeChek™? Please call or e-mail us for further information. 412.231.5776 |
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