It’s become a punchline in the tech industry that every start-up is out to change the world. When it comes to medical technology, however, some of the biggest names in Silicon Valley are poised to do just that.
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Apple, Google and Amazon have announced or are reported to be developing cutting-edge technologies for managing diabetes, one of the fastest-growing chronic illnesses, affecting more than 420 million people worldwide.
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Experts say we’re at the dawn of a new era of personal technology for a variety of chronic conditions, including diabetes, heart disease and hypertension.
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It really isn’t a surprise you’d see companies like Apple and Google focusing on this, said Mike Matson, a senior analyst at the investment firm Needham Co. They’re always looking for new opportunities for growth and healthcare is a big market.
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Managing a chronic condition can depend on easy access to data, he said. If you’re a Google or Apple, you know how to manage data.
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The latest diabetes-related tech endeavor to be announced is the Alexa Diabetes Challenge, which focuses on finding ways for the Amazon Echo smart speaker — and its Alexa digital assistant — to assist people with Type 2 diabetes in living healthier lives.
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Type 2 is by far the most common form of diabetes, frequently associated with obesity. Roughly 95% of the nearly 30 million Americans with diabetes are Type 2.
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The Alexa challenge features a $125,000 grand prize for whoever comes up with the best diabetes app for the Amazon Echo, as well as $25,000 each for up to five finalists. Funding is being provided by the drug company Merck, manufacturer of the Type 2 meds Januvia and Janumet.
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Not surprisingly for the tech industry, the contest boasts a very fast pace. It was announced in April. The deadline for submissions was last month. Finalists will be announced…