Pressure Paw
Needs Statement: An innovative technology to reduce veterinary anesthesia-related complications and risks.
We identified our market to be small-medium veterinary hospitals, in particular, doctors and administrators. After conducting interviews, we were able to pinpoint the features of our product which mattered more to customers - efficiency, given by an increase in speed of operation, and price. We were mindful to always keep in mind these features during the product development and design process. Our team has successfully built a minimum viable product (MVP), and passed testing iterations. The promising results are quickly leading our product into the next phase of Early Insertion; we plan to start producing more evaluation units for our prospective customers soon, and we approximate the number to be around 30 units. Thanks to our partnership with Midmark Corporation and its already established team of sales representatives, our device will be able to smoothly find its way into small- to medium-sized veterinary hospitals. After a trial period of around 1 to 2 months, our team will send surveys to customers asking to rate and give feedback on the overall performance of the device. Based on the surveys’ results, we will account for a period of re-designing, after which we will conduct a sales forecast. Finally, our team will move into production with the development of a manufacturing plan.
The current veterinary anesthesia equipment market was estimated to be valued 957.9 million in 2017, promising to exhibit a CAGR of 7.2% over a forecasted period of 7 years. Although poised to continue growing in the coming years due to the rapid growth in pet adoptions and oral diseases, the market is presently saturated by two main product segments - complete anesthesia machines, and more basic alternatives enhanced by accessories. Due to the complete novelty of our product, our team found that we don’t have any direct competition. Our indirect competitor is the company Dispomed ltd., one of the leaders in integrated anesthesia machines.
SWOT Analysis
Doctors:
Reduce the stress. Save time. Deliver the best care, to both you and your precious patient.
Hospital Management:
Affordable operational efficiency, compelling price-performance ratio, internal and external customer satisfaction.
