Even if the wearable market doubles or triples over the next years, it is still very small and exactly what form it will take remains to be seen. A recent research from Endeavour Partners in the US featured in The Guardian, found that one-third of American consumers who have owned a wearable product stopped using it within six months. What’s more, while one in 10 American adults own some form of activity tracker, half of them no longer use it.
What’s the problem with smart-watches and fitness trackers? Are they just too early? Or is it something more fundamental?
What do you think? Share your opinions in the comments!
At d·HEALTH we feel truly blessed that great educators from all over the map find their way to Barcelona. One such teacher is Mark Bruzzi.
He is an entrepreneur and lecturer at National University of Ireland in Galway, and the Director of the BioInnovate Ireland medical device innovation training program. Modeled also on Stanford Biodesign Fellowship, its’goal is to foster entrepreneurship in healthcare and create value to the Irish economy. And it is in the correct way according to recent news.
The first project under this agreement will be lead by d·HEALTH Faculty member Mark Bruzzi. It is a device for the treatment of acute pancreatitis, an increasingly prevalent condition worldwide with substantial hospitalization costs, but with no widely accepted therapies or practices for proactive management of the disease. Associated healthcare costs are estimated at €3 billion in the US alone. Bruzzi’s team at NUI Galway aims to design and develop a prototype device for human clinical use, build on animal studies conducted thus far and advance the therapeutic technology towards a “first in man” clinical investigation.
This is great news for medtech innovation and we feel really happy for Mark! CONGRATULATIONS! Below it is a video-interview we filmed with Dr. Bruzzi when he visited us last year.
With a forecasted growth rate of 4.5 percent each year between 2012 and 2018, the medical device and diagnostics sales will be as high as $ 455 billion by 2018 according to the report EvaluateMedTech World Preview 2013, Outlook to 2018 published by the market intelligence company Evaluate. In-vitro diagnostics is expected to be the largest medtech segment in 2018, with sales of $58.8 billion, followed by cardiology ($48.7 billion) and diagnostic imaging ($45.1 billion).
We have selected three infograhics that resume medtech market situation in Europe, Latin America and the US. The situation is different depending on the region. The European Union has a positive outlook for the medtech market. So does Latin America, where the medical device market is worth $10.5 billion and still growing. In the US, changing regulations for medical devices will inhibit growth, but revenue will remain stable. By 2016 the medical device market is projected to reach $134 billion. A significant contribution to this will be the U.S. Orthopedic market, which is was estimated at roughly $15.5 billion in 2011, equal to 14.6% of the total market.
You can see full infographics here (Europe), here (LatAm) and here (US).
How do you measure the value of a company? Especially, your company, the one you started just a few weeks ago. How do you determine its value? This is the question that will resonate in your brain over and over again when looking for funds for your startup. The following infographic will help you address the valuation of your company from its early stages:
Several factors influence how much money can you ask an investor if you are negotiating a share of the company:
Traction: The most important aspect to show to an investor. The higher the number of users of the platform, more money you can ask.
Reputation: Entrepreneurs with prior exits in general also tend to get higher valuations.
Revenues: Are more important for the business-to-business startups than consumer startups. Revenues make the company easier to value.
Distribution Channel: Even though your product might be in very early stages, you might already have a distribution channel for it.
Hotness of industry. Investors travel in packs. If something is hot, they may pay a premium
If you want to delve deeper on additional tricks to valuate your startup at different stages read the article here for useful tips.