132 million birth per year
Across Europe, 7.32 million children will be born each year by 2040, according to data from the UN (World Population Prospects UNDATA). Worldwide, this figure is 132 million per year. Looking at the main Western markets (USA, France, Germany, Italy, Spain, UK, Japan), birth rates are expected to be around 30 million babies per year. These figures do not yet include growth markets such as India.
30 million units per year
Based on these figures, the annual market in the industrialized nations alone is 29.6 million basic units and 6.6 million extension packs. Based on the recommended retail prices of Clearblue (SPD joint venture of Procter & Gamble and Alere) for their Clearblue Fertility Monitor Advanced (single unit price 139.00 Euro) including extension pack (price for 24 units 48.50 Euro), which is comparable in complexity, this would result in potential total sales of 4,121 million Euro for the basic unit and an additional 323 million Euro for the extensions.
2% market share corresponds to sale of 90million euros per year
With a 2% market share, this would correspond to sales of around 88.9 million euros per year. According to surveys, however, market penetrations of 10-20% with correspondingly higher sales figures (400-800 million euros) are also possible.
No competing products and patent protection
Currently, there are no competing products worldwide. However, after a successful market launch, there will be increased competitive pressure. However, comprehensive patent protection has been obtained in the PCT system to secure market share. The globally recognized and award-winning patent law firm Grünecker from Munich developed and implemented the intellectual property protection strategy for this purpose. The patents are filed under EPO PCT/EP2020/074094 & USPTO 17638276.
Monopoly position and first to market
According to the company idea "We turn ideas into inventions, inventions into patents, patents into profit" our innovation, product and profit is protected by patenting. After market introduction, a monopoly position will develop. Should another company enter the market despite high market entry barriers, the product will continue to have all the advantages of first-to-market.
Company Timeline
The founders had the first idea in 2017 and conducted initial scientific work on medical-biological background. They developed the idea to develop a corresponding product. The next year was characterized by the evaluation of the study and the development of the idea and possible products. The company WPmed would be founded in 2019 and filed an international patent for the idea in 2020. In 2021, improvements to the concept were made and tested in further studies. The founders decided to manufacture the product with a partner or integrate it into a wearable platform in 2022. In the next 18 months, prototypes will be created together with the partner and the algorithms will be refined in a field test. The product is then to be launched on the global market.
Marketing
Depending on the selected product version as a stand-alone device, own wearable or via integration into a wearable platform, the marketing goals and strategy also differ. Basically, the medium-term goal must be that every pregnant woman worldwide is aware of the product and its benefits. This requires two steps: informing healthcare professionals and informing expectant mothers.
Information for medical professionals
Prof. Weissenbacher and Dr. Pressmar will introduce the product to the medical community with further study and lectures, highlighting in particular the benefits for high-risk births and primiparous and multiparous babies with a history of prematurity. This is to inform medical professionals and midwives about the product. A recommendation of the medical professionals and possibly an inclusion in the benefit catalog of the health insurers would be a very big step towards a high market share.
Information for the expectant mothers
In addition to the recommendation of scientific professionals (gynecologists, midwives, etc.) all normal marketing tools are entitled. First of all, it must be communicated that there is an innovation for pregnant women which increases the (over-)quality of life of the babies, especially in the case of premature babies, and which can solve further problems in the environment of the beginning and planning of birth.
Target Groups
The high differentiability of the target groups is an advantage here: • Women between the ages of 20-50 years with a desire to have children or in pregnancy. Special emphasis should be placed on older mothers because of the higher risk of preterm birth and usually higher family incomes and mothers who have already had a preterm birth. • Technically interested men and women between the ages of 20-50 who see advantages in a technical, digital product and already use other such products such as fitness trackers or wearables. When integrated into an existing wearable platform such as the Apple Watch, a new target group can be developed in addition to those already interested in such products, as this function adds a completely new USP for this platform.
Prediction Pro Documents
| Titel | Version | Beschreibung | Größe | Aufrufe | Download |
|---|---|---|---|---|---|
| pdf WPmed - Businessplan englisch 2022.08.17 | 1.02 mb | 168 | Download Vorschau | ||
| pdf USPTO - Publication 20220293269-A1_I | 798.21 kb | 165 | Download Vorschau | ||
| pdf WIPO - PCT Publication WO2021038052A1 | 1.85 mb | 176 | Download Vorschau |
Prediction Pro is a groundbreaking innovation that aims to transform the field of obstetrics by accurately predicting the due date of pregnancies and helping to prevent potential complications.