 |
| SonoCava Industry & Competitive Analysis |
 |
| This project required that we define, analyze and research the market for intravenous vena cava filters. This included determining the market size and growth rate, identifying and researching competitors, studying the competitive landscape, developing strategic group maps, examining industry key success factors and concluding the opportunity’s feasibility. |
 |
| Pulmonary embolism is a medical condition whereby blood clots float from a large vein in the thigh or pelvis through the vena cava and the right ventricle of the heart into the pulmonary arteries. When positioned in the pulmonary arteries, blood clots impede blood flow and oxygenation of the blood, which can cause death. This cause of death is highly preventable, as the placement of metallic filters inside of the inferior vena cava (the largest vein in the body through which 2/3 of the blood returning to the heart passes) will prevent 99% of pulmonary emboli. Approximately 100,000 vena cava filters are implanted each year into individuals at risk of developing pulmonary embolism. SonoCava has developed a patented technique and medical device that will alter how this surgery is performed, increasing efficiency and decreasing hospital costs by enabling bedside placement of filters under ultrasound guidance. Our patent-protected device and technique will eliminate the need for special X-ray equipment and allow bedside placement of filters under ultrasound guidance by the pulmonologist. Tthese specialists already possess the requisite skills needed to perform this procedure and financial incentives will be very high ($1000 reimbursement for 30 minutes of work), thus inviting rapid acceptance of this innovation. Growth of bedside vena cava filter placements at the expense of existing devices is expected to grow by 20% per year. Three factors - change in the market growth rate related to the introduction of retrievable filters, enabling a new customer group (pulmonologists) to have primary control over who performs the procedure and the opportunity for premium pricing - make this venture very attractive. |
 |
| Developing this Industry and Competitive Analysis allowed the entrepreneurial team to validate the concept, carve out a niche for the product, and determine the viability of the opportunity. Using this information, a business plan was developed to commercialize the product. The innovation also was awarded distinction and a cash prize in the University of Louisville's IDEA competition, which also provided several consulting sessions with local entrepreneurs, an attorney and business consultant. |
business plan development & review |opportunity screening & market feasibility analysis | SBIR / STTR grants | managing growth
opportunity screening | business plan development | business plan editing & review
link | SBIR / STTR grant writing
© 2004-2005 Avocado Group™, LLC 
