Chemistry Analyzer System for Veterinary Market
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Business Opportunity in Veterinary Diagnostics System
We have an extremely attractive opportunity in a near-commercial veterinary diagnostic system from our client that fills an important void in the current veterinary testing market. The system is in the final validation phase and is expected to hit the market in 2010. The system provides for a quick (under 90 second) test on a variety of analytes that are important parameters in determining a pet's health.
Cutting-Edge Technology Providing Competitive Edge
The heart of the system are test strips using innovative electrochemical reactions that can provide results on various chemistries (from a single drop of blood in about 90 seconds. These are read by a portable analyzer. The company has exclusive rights to the analyzer and chemistries for the vetarinary market. Additionally the company also has acquired exclusive rights on a white blood cell analyzer and chemistry that can provide results in under 5 minutes. This analyzer will initially be launched with a menu of six tests and six more will be added in early 2010, offering a total of 12 chemistries that can be analyzed from a single drop of blood in under 90 seconds. And the analyzer is expandable so that more chemistries can be added at a later point.
The technologies behind these chemistries are covered by 12 pendig patents.
Market Opportunity in Veterinary Market
The company intends to market and sell portable chemistry and WBC analyzers with its respective test strips in USA, and throughout the world. In 2006, Americans spent US$41 billion with Veterinarians on pet healthcare and related services. About 63% of U.S. household or 71 millions homes now own at least one pet, up from 64 million just five years ago. After consumer electronics, pet care is the fastest growing category in retail, expanding about 6% a year. More new pet products were launched in the first six months of 2006 than in all of 2005. Americans now spend US$9.8 billion a year on vet services and the annual compound growth rate for core veterinary services alone has been about 10% over the past decade. Americans are expected to spend 52% more on medicines to treat their pets this year than they spent five years ago.
The Company’s business model focuses on the re-curring sales revenue of the test strips. The company plans to launch its products by the end of 2009 and expects to be profitable within a year from launch.
The potential customers of the Company are clinical Veterinarians whose practice focuses on companion animals primarily dogs (canine) and cats (feline). The Domestic USA market includes not only small, medium and large veterinarian practices but also large corporate chains of veterinarian hospitals. Additionally, the Company’s product line is especially attractive to those Veterinarians whose practice is geographically outside the big city environment.
Unlike human diagnostics area, the veterinary diagnostic field is less regulated and hence the products can be developed and launched relatively quickly in this market.
Competitive Advantages
There is an unmet need in this market of a veterinary analyzer which is inexpensive, is portable, is easy to use (and hence does not need a dedicated person) can provide quick results, uses a small sample size and does not need expensive maintenance contracts. The company's analyzer is uniquely qualified to fulfil this void.
Currently, no portable instruments exists under US$3000.00 in the veterinarian marketplace which can provide chemistry, electrolyte and hematology test results within ninety (90) seconds while using only a drop of a whole blood sample. The Company is able to provide this new ground breaking technology to the Veterinary Market at a fraction of the cost of their competitors with better or comparable accuracy.
There are three major established competitors to the Company in the field. Their systems however cost a minimum of US$8,000 and can run upwards of US$30,000 for covering all the tests offered by the Company. In addition some of them need their customers to have an annual maintentnace contract.
So the company feels quite confident of doing well in the marketplace.
Looking for Strategic / Marketing Partners
The company is seeking strategic and marketing partners worldwide so that it can effectively market its products. It believes that it presents an attractive opportunity, given that it expects to be in the market in late 2009 and expects to be profitable within the first year of operation.
Contact Us
Do contact us for more information on this technology and to connect with our client.