Market Size
The market potential for our training device is strongly correlated to the demand for DBS devices. As of 2022, the DBS global market size was estimated to be worth approximately $1.18 billion. However, projections indicate significant growth, with expectations reaching a value of $2.49 billion by 2030, reflecting a compound annual growth rate (CAGR) of 9.8% between 2022 and 2030. These figures highlight the expanding market and the opportunities available for our training device.
Marketing Strategy
Our device is tailored to meet the needs of medical students and professionals in hospitals who are undergoing training for the Deep Brain Stimulation procedure. Our primary target market consists of individuals actively engaged in their education and professional development, seeking to acquire the necessary skills and expertise in performing DBS procedures.
Medical Students
Enhance medical students' learning by allowing a hands-on training experience in the DBS procedure alongside existing learning methods.
Medical Professionals
Enable neurosurgeons to effectively prepare, practice, and enhance their skills for specific DBS procedures in a safe and controlled environment.
We have conducted market research and have determined a competitive price for our device that will allow us to generate a profit. Additionally, we have plans of licensing and collaborating with a medical device or manufacturing company in the future. Through licensing our patent and collaborating with an established company, we can utilize their manufacturing capabilities and established market presence to produce and market our device on a larger scale, reaching a wider consumer.