Completion of estimate of device production rate

Question

Based on a US diabetes market, assuming that 9 % of the US population has diabetes, and you have 15 % of that target market: If your customers use 3 lancets per day, how many lancets per minute would you have to manufacture?

Answer 1

The one piece of information not specified is the current US population, but a simple Google search yields an approximate value of 320,000,000. With that in mind:

 

0.09 * 320,000,000 = 28,800,000 (population with diabetes)

0.15 * 28,800,000 = 4,320,000 (market share of diabetes population)

3 * 4,320,000 = 12,960,000 (lancets needed daily)

12 * 60 = 720 (minutes in a day)

12,960,000 / 720 = 18,000 (lancets per minute)

 

Correction, 24 * 60 = 1440 minutes in a day, so only 9000 per minute. That's what I get for doing 2 things at once ::hangs head in shame::