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- Published: Friday, 13 March 2015 16:28
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Tech Helps More Diabetic Employees
Staten Island commercial bank suggests monitoring may rise in workplace
STATEN ISLAND, N.Y. – The widening prevalence of diabetes suggests that increasingly more people in the workplace have the disease.
Victory State Bank, Staten Island's only community-based business bank, has observed that the demand for blood glucose monitoring devices is expanding as a reflection of an expanding diabetic population.
As a result, workers may need a bit of accommodation in using a glucose monitor, the bank contends.
It so happens that diabetes is the seventh leading cause of death globally with around 387 million people affected with the disease in 2014 and expected to reach 592 million by 2035.
These figures are from a research report by Global Industry Analysts Inc. (GIA) in San Jose, Calif.
Diabetes was responsible for an estimated 4.9 million deaths in 2014, GIA reported two weeks ago.
Fast-paced lifestyles with sedentary modes of livelihood and poor dietary habits and the rapidly aging population are resulting in the steady increase in the number of individuals who have diabetes, it said.
Physiological factors, obesity and genetic predisposition are few of the other factors that cause diabetes, GIA noted. Improper management of diabetes results in increased risk of developing complications such as stroke, heart disease, kidney disease, and glaucoma, among others.
Diabetes also increases the risk of lower-extremity amputations. With no effective cure for diabetes mellitus, effective disease management is growing in importance as the only means to live a healthy life with diabetes.
Against this backdrop, blood glucose monitoring (BGM) devices including BGM meters, strips and lancets are witnessing strong growth.
Technological advancements in monitoring devices are benefiting growth in the market. Rise in home healthcare represents another major factor driving market expansion, the publisher of market research said.
Continual technological developments are giving rise to newer self-monitoring blood glucose (SMBG) devices with enhanced accuracy, portability, durability, functionality and user-friendliness.
So the bank offers that employers will need to be aware of a likelihood of monitoring devices being used in the workplace.
Manufacturers are launching SMBG devices that are compatible with smart phones, tablets and other portable computing devices. Continuous glucose monitoring, one of the cutting-edge monitoring technologies, is poised to gain traction driven by the growing acceptance of devices and improving reimbursements, GIA pointed out.
Artificial Pancreas, a technology that addresses the age-old demand for entirely eliminating reliance on ‘exogenous’ insulin, is expected to become a game changer for diabetes care and blood glucose monitoring devices markets in the next few years, the data reveal.
Blood glucose strips comprise the largest as well as the fastest growing market, the research has disclosed, primarily due to the consumable nature of the product as well as its ubiquitous use in institutional and homecare settings.
About Victory State Bank
VSB Bancorp, Inc. (OTCQX: VSBN) is the one-bank holding company for Victory State Bank. As Staten Island, N.Y.’s only community-based commercial bank, Victory State Bank operates five full-service locations on the Island: The main office is in the community of Great Kills, and branches are in the communities of West Brighton, St. George, Dongan Hills and Rosebank. For additional information, Victory State Bank may be reached at 718-979-1100 or visited online at www.VictoryStateBank.com.