Business Plan
Market Size
With the clear need for optimized prostate cancer treatment, the area's global market worth is sizable at $63.02 billion in 2022 and it is projected to grow to $99.20 billion in 2027.
Marketing Strategy
Our device currently costs us approximately $104,000 to manufacture, but with mass manufacturing and commerical part integration, we are aiming to get the cost closer to $5,000. We are planning to sell our device to hospitals and radiation treatment facilities for $200,000. To increase our flows of revenue and stay engaged with our customers, we also will market software update subscriptions to keep our customer's technology up to date as we improve our technology, as well as transducer replacements as transducers typically degrade in 4-5 years.
Competitor Analysis
SoundDose technology has unique advantages over our current competitors. One competitor, Dose optics, has developed a dual-modality imaging system with Cherenkov radiation, but they are unable to achieve deep tissue depth necessary to fully illustrate the prostate region.
Another competitor product, the MRI Linac, is currently considered the gold standard in adaptive radiotherapy treatments, but is extremely expensive at upwards of 3 million dollars. Additionally, utilizing MRI makes this methodology take 3x longer than traditional radiotherapy, which reduces patient throughput by 66%.