Non-Fouling Peripheral IV IP
The Peripheral IV markets are approaching $4B, and are expected to continue growth rates above 6% through 2022. During their hospital stay 60%-90% of patients require peripheral intravenous catheter (PIVC) and, even in the most rigorously performed studies, the overall failure rate is between 35%-50%. The primary forms of failure are phlebitis, infiltration, clotting, occlusion/mechanical failure, dislodgment, and infection. Any of these events, alone or in combination, can lead to intravenous (IV) catheter failure and the additional expense for treating infections, replacement and/or repositioning.
A single case of catheter-related blood stream infection can add as much as $56,000 in additional patient care costs. Total costs have reached as much as $2.3B in U.S. intensive care units alone each year. As health care system acquired injury continues to enter the spotlight and ceases to be tolerated from both a cost and societal perspective, the legal malpractice implications are enormous and can be expected to increase.
Designs for this early stage technology have been created and developed to provide a low-cost solution to catheter fouling, clotting, biofilm formation, infiltration, phlebitis, and other IV catheter associated complications. The PIVC market is hugely competitive and 3-4 companies dominate the market aggressively. Innovations that provide market advantage are expected to receive interest from any or all of these companies.
Internal assessments of the revenue and value of the IP are illustrated in the graphic above. This IP is expected to provide 4% of the Company’s total combined revenues over the next five years. Very positive feedback was received by the Company in recently convened early conversations with industry experts.
Call or email us today for more information. We would welcome the opportunity to discuss our Company with you in greater depth.